this channel is a hidden gem. i'm 19 and i wanted to get into real estate but i had absolutely no knowledge about real estate until i binge watched every single one of your videos. i look forward to becoming successful. thank you #TMT 50-0
This video is on point. I just purchased my third property. I rent out two and live in the third one. All three homes are 410-565k Worth. The heloc help flame facilitate funds to purchase my next home. I only used a small amount of it. Now that I own three it’s not a bad idea to partner with a family member and purchase another home as a partnership.
I just bought my first property at 26. I am going to take your advice on leveraging equity to purchase my second home. My biggest concern with partnerships is that I don't feel like I can trust someone enough for that.
Thanks Kris. Following your foot steps, I am on route to purchase my second home. First property will be turned into rental. Although it's much harder to purchase up here in Canada, your channel keeps me motivated and inspired. Keep up the great work that you do! I look forward to watch more of your videos.
@@twincherry4958 heavy into the stock market but plan to have rentals and airb&b's when I have the capital. I dont agree with how he does rent to owns so wont be following his program.
Im 13 and you have got me into dreaming of being as successful of a real-estate investor such as your self. I have literally written down pages of steps and notes that you have given. Thanks you
I’m 25 and getting into real estate has been something I’ve been thinking about for awhile. I can say I have 2-5K to play with and I would love to get something started.
Strategy is the key element to of a long term successful trading. The problem is that most traders/investors just want a strategy that works, whereas they forget the need for consistency. You can keep making wins at the beginning for a period of time and later you start making losses towards the end of the trading period or even at half-way. This result from little or no attention to the need for sustenance and consistency with the prevailing market structure and trading without comprising your initial investment. When you invest with Kevin Hermen you will understand the importance of consistency with wins as regards trading online.. Trading on your own might not be suitable especially with less knowledge. All you need is an expert like Mr. Kevin
I told my father that I wanted to start investing in real state and how i wanted to start building my credit and contrary to what I expected he told me that he has been thinking about doing it too, and partnering with him would be a great opportunity that not everyone has, he has worked really hard his whole life and now he's in a point where he has his own business, but he's self employed and wants to retire. This chanel is giving us the opportunity to learn about this world of opportunities that he never knew about, and I'm barely learning of. I can only say "thank you"
I'm an investor also. Currently closing on my tenth property. Gonna have to figure other ways tho fund after this. I'm a fan and thank you for your videos. I know this video is old but did you change the battery on your smoke alarm? Lol
i love your channel! :) Although my dad and I are gonna invest in the market in Spain, but your info in this video was gold! thank you so much for sharing!
Purchased a condo in 2019 for 130k, renovations (15k) (worth 300k now and its paid off) took out 200k (HELOC) on it, and rents out for $2,400. Bought a fixer ranch for 310k (Renovations 25k) and worth $425k in under a year. I'm a police officer and my wife is a teacher. I do all the work myself and work 70 hour weeks....it can be done!!! Start now!
Loving the videos Kris. I was hoping you could answer something for me. you said in a video you're making tens of thousands selling houses a few times a month. is your method of making profit on a home selling it at value when you bought it under value? (thus providing you with the equity with which you bought the next property) Another question, is how are you finding properties in your range (talking about your early years) with equity of 40+ thousand dollars? are you buying foreclosures? thanks and keep up the awesome work! I'm learning a bunch!
Great questions. You'll find answers to your questions in this video: th-cam.com/video/htCKJNeMj64/w-d-xo.html And in this playlist: th-cam.com/play/PLWWMFdKhGQUMkMKpkxv5mwCSe7tgQ05Ng.html Glad you enjoy the channel!
Thanks for your video. Can you let us know, what real estate investment software you are using? In order to keep track of Mortgage and Property Payments + Rental Received? Thank you.
What kinds of places should I invest in? Low cost of living areas? Where I live rent can be expected at 1300 and that’s just to get the owner to break even. And is it smart to invest in places that are far from where your primary residence is?
So I don’t understand Kris. I own a house which I rent two floors. I bought it for 66 now is around 120. I want to move forward and buy my second one. Should I refinance or should I obtain a second loan and pay the 20 percent down. It will be great if you can advice me.
Yeah the thing dont understand is lets say you buy a house for 100 k and you need to pay for it every month for 8 years, you have to pay for it then with the profit from rent buy the second one. It woult take lots of years to buy multiple houses.
Could you give some more detail about your real estate partnerships? So someone else is paying the down payment or do they put up more than that? And what’s your position/role and how are you compensated? Or do I have to sign up to your classes to didn’t this out? 😀
so when you bought the investment property with a little equity in it , did you pay the 20% down payment using HELOC? and lets say primary house mortgage is covered by renting out in the basement and then by renting out the investment property you are covering the HELOC interests but what about the mortgage on the investment property on the remaining 80% the bank gave you to puchase the property, what about its mortgage ?
Cris, you have really motivated me to get into real estate, so thank you for that! I have one property that brings in $1,200 a month cash flow. I have equity in that home and want to get another investment property. If I get an equity line of credit, whats the best way to pay that money back? Thanks in advance
Chris, the object is to use the funds from that equity line, to increase your assets and cashflow. Yes you've have a payment on that equity line, but not that much. The rental income coming in will cover the mortgage and heloc. Then when you purchase another property, you'll also increase in your cashflow. So now you have more equity, and the rental income from the new place is covering the mortgage of that one as well, plus providing you a surplus of a few hundred a month.
i have question reagarding Heloc from the investment property.i just purchase the duplex with 25% down on april 11 2019. can i apply for Heloc form this property and invest to buy new house. Do i have to wait 6 months to get heloc? and last one,is it hard to get heloc from the investment property
Something I'm curious on buying properties out of state. How should you look into finding someone that can upkeep your places. Also what's the best way to have them pay?
Was going to ask the same thing. But not about out of state. I hear all the time that the worse thing about rental properties is managing them. So a big concern of mine is having someone manage my properties for me.
Hey Chris ! I'm 19 years old and not quite in the position yet to start by homes or obtaining lines of credit, but I'm just trying to get ahead as much as I can. Could you explain how you actually keep track of you gains and losses for your portfolio to show others. What does something like this look like?
Maybe I missed this if you said it. But how do you continue to make the mortgage payments and the home equity payments on all the homes and still make a profit?
Limitless TV Oh ok cool, thank you! I'm actually a MLO at BOA and I've been loving your videos! My wife and I haven't bought our own home yet but we want to be freed from a 9-5 and I'm thinking real estate might be my way to keep from being tied down to a desk and office hours and will help us retire sooner.
With that HELOC that you took out. How did you pay that back in an acceptable time frame? Did you also use W2 income as well as the proceeds from rent? I don't want that HELOC tied up for 15 years. I want to use it again ASAP.
how did you buy properties in your name or using an company name i am new in this i have properties in my name just created an LLC still have some questions
Can you please tell me if what my bank told me is true. They told me that I have to wait 13 months to request a equity loan. I bought my first investment in September of 2021 so I have to wait until October of 2023 to get a better equity line. the house that I bought is foreclosure property. Also they told me in order to get investments loans I have to have at least two years of taxes.
Hi thanks for the knowledge you share with the world it's really priceless... Can you do a video on purchasing a bank sealed property as their equity value is very high... Your advice please
Hi Chris, my wife and I are pulling out of our 401k to put on a down payment on a first new house for my young family, will finish in May 2018. We’re withdrawing partial this year, the rest next year, to avoid the higher tax brackets. We’re hoping to reinvest (but not sure in what) to offset the costs and hopeful to get a good enough return by the close of escrow. We’re not experienced but have been wanting to start. Can we partner with you to invest? Btw, I love that you’re LDS, we’re LDS too and you’re doing a great deed through your channel. Thank you for your wonderful service.
I am 20 yrs old and I have been told to put my money into a broker account, later into an IRA. I have 5k in there currently, but do you suggest that I keep putting my money into it or use the money I already have to make a down-payment on a home?
I’m currently saving $5,000 to put towards my first house. Say two years go by, do I just go to the bank and say I have some equity? And is there any paperwork to fill out to let someone rent my first place while I buy my second place?
Hey Chris! I have been watching your videos for 3 days straight. I am in my last year of my undergrad and looking forward to making some money next year. I have one question about owning multiple homes. So say I have 3 homes on my credit and I decide to not live in any of the homes. I decide to rent the homes or rent to own the property to earn more money. By me only being able to have 3 homes in my credit what and how would I purchase another home for me and family to live in while I collect from my first 3 properties?
question on this home equity line of credit when u said u used that too buy your next investment property , how much did u exactly have to use ? all of it ?
How do you set percentage on the property? Using the partner credit line to get the loan, then you add your name in later? He has 50% and you have 50% + your experience? How do you get pay for your work? Thx in advance.
And what happens when you do a partner deal but say your partner runs into financial trouble and has to sell the other half of the house he owns. Then what do you do?
Kris Krohn - Limitless TV so let’s say you don’t know anyone personally to partner with, how do you find a partner and how can you express what your doing to make them want to partner with you?
Chris, How different is this from a REIT? Im ready to move on this. I owned a house and sold after two years +50k. I now own a duplex and can net 12,640 a year. Looking to get into the third 4th 5th +++. Can we speak?
I got one question that's been bothering me for quite a long time. So, here it is: Are all those things and principles about real estate investing that you talk about, are they the same for every country? I'm asking because I am from Serbia and the standards aren't the same here. I'm sixteen years old and really looking forward jumping into real estate. Salaries are much more lower than in other countries, so I want to ask you is it even worth to do real estate somewhere where the average monthly salary is around 400$, or I just have to go abroad if I want to do real estate? Thanks in advance!
Well the average house is around 500k here where I live and the minimum deposit to get into them is 20%. That's 100k to save up.. if that's not hard enough then you will need a minimum deposit of 40% for investment properties.. so not easy now. Maybe 10 years ago when minimum deposits were like 5% and house prices were way cheaper.. definitely can't do that now
There are first time home owner loans that do not require the 20% down, you need to speak with loan officer to find out your options. One thing he does not talk about is that with those loans there is always a PMI or private mortgage insurance. If you are military or o vet. you can get a mortgage with 0% down and no PMI.
Move somewhere else? Where I live you can buy double unit duplexes for 100- 125 K both units bringing in a combined rent income of 1800$ or so. Pay 10% down, 10 grand and only pay 600 to 700$ a month for mortgage
@@ve2430 equity is the difference between how much your house is worth and ho much you owe on the mortgage. For example you owe 80 thousand when the house is worth 100 thousand so you have 20 thousand in equity.
Chris, my question is, if someone has 3-5 thousand dollars to invest into Realestate and they want to start looking at properties, where does one go to actually purchase the property and who do they talk to? The bank, a realtor etc?
5K won't get you an investment property unless it's also your primary residence. Otherwise you'll need $25K to $35K. A realtor that specialized in investment properties is who you want to find.
Yeah that’s what I had to pay for my first investment property then don’t forget closing cost etc. It can really deplete your savings. However so glad I did purchase because now the property is paying for itself as a vacation rental. 😀
When you buy a second property aka ur investment property, it requires 20% down payment. So your second home was roughly 90k? Also the bank wants to see 2 years worth of rental income on your tax return. How do u achieve that when u r living in ur first home the whole time?
I have a question, my first house that im still paying for 3 years, how would it affect your plan if i bought this house without the bank? I did it straight with owner to owner with notarized paperwork about our contract.
this channel is a hidden gem. i'm 19 and i wanted to get into real estate but i had absolutely no knowledge about real estate until i binge watched every single one of your videos. i look forward to becoming successful. thank you #TMT 50-0
Glad you found the channel! Thanks for your comment!
Me too limitess u R the best
Same
Haha 50-0
Willy Wilk I'm 14 and I'm also learning a lot
My 17 year old son showed me this channel. Thanks Kris for the content
This video is on point. I just purchased my third property. I rent out two and live in the third one. All three homes are 410-565k Worth. The heloc help flame facilitate funds to purchase my next home. I only used a small amount of it. Now that I own three it’s not a bad idea to partner with a family member and purchase another home as a partnership.
Helpful comment .
How did you get a second one and bypass dti?
Kris is so under rated. Best guy on youtube!
I’m a 24 year old jack of all trades that didn’t know where to place my focus. I think I’ve found my purpose. Thank you for your videos!
I’m sure you are
Master of none
Ruthless but funny comments
I just bought my first property at 26. I am going to take your advice on leveraging equity to purchase my second home. My biggest concern with partnerships is that I don't feel like I can trust someone enough for that.
Thanks Kris. Following your foot steps, I am on route to purchase my second home. First property will be turned into rental. Although it's much harder to purchase up here in Canada, your channel keeps me motivated and inspired. Keep up the great work that you do! I look forward to watch more of your videos.
im from canada too. are they not strict in the states when it comes to acquiring multiple properties compare to canada?
This is the video that started it all for me. Thank you so much!!
Where are you now???
Yeah, how's it going over there??
Where are you now?
@@twincherry4958 heavy into the stock market but plan to have rentals and airb&b's when I have the capital. I dont agree with how he does rent to owns so wont be following his program.
@@chillfalife9033 got it
Im 13 and you have got me into dreaming of being as successful of a real-estate investor such as your self. I have literally written down pages of steps and notes that you have given. Thanks you
You’re 16 now
Same here.
My first day of moving foward in this direction of purchasing property and chose your video and I'm glad I did!!
I’m 25 and getting into real estate has been something I’ve been thinking about for awhile. I can say I have 2-5K to play with and I would love to get something started.
My 1st video from your channel. Subscribed. Will binge watch after work today.
Strategy is the key element to of a long term successful trading. The problem is that most traders/investors just want a strategy that works, whereas they forget the need for consistency. You can keep making wins at the beginning for a period of time and later you start making losses towards the end of the trading period or even at half-way. This result from little or no attention to the need for sustenance and consistency with the prevailing market structure and trading without comprising your initial investment. When you invest with Kevin Hermen you will understand the importance of consistency with wins as regards trading online.. Trading on your own might not be suitable especially with less knowledge. All you need is an expert like Mr. Kevin
How can I reach him please?
@@nunyabidness5508 He can be reached at Whasapp for professional assistance on account management
@@nunyabidness5508 +1 (6 1 2) 4 2 4 - 2 2 7 1
Mr. Kevin is really the man for the job! Tested and trusted. I've made more than 78k since I started investing with him
@@nunyabidness5508 have a conversation with this *hobbe_duke* on instagram
Super informative... One of the best videos on TH-cam... My eyes has been opened. Thank you
Because you thinking far, looking deep, and doing big, all of those help achieved your big dream👍
Great information thanks I’m thinking of buying my third house just waiting for my credit to improve to a 700
I told my father that I wanted to start investing in real state and how i wanted to start building my credit and contrary to what I expected he told me that he has been thinking about doing it too, and partnering with him would be a great opportunity that not everyone has, he has worked really hard his whole life and now he's in a point where he has his own business, but he's self employed and wants to retire. This chanel is giving us the opportunity to learn about this world of opportunities that he never knew about, and I'm barely learning of. I can only say "thank you"
I have 400k in equity in my house how do I invest
@@albalinares7047 use it as down payment to buy real estate
In the process of getting my second home. Super stoked
I'm an investor also. Currently closing on my tenth property. Gonna have to figure other ways tho fund after this. I'm a fan and thank you for your videos.
I know this video is old but did you change the battery on your smoke alarm? Lol
What way did you make it to 10 properties? Buying equity built in, fixing up or just waiting a long time between deals?
How did you get the 11th property?
Oh all work and save and 20% down.
@@wendellmarasigan4028 Just the same way then...Ok. The banks didn't give you a hard time getting the 11th ?
i love your channel! :) Although my dad and I are gonna invest in the market in Spain, but your info in this video was gold! thank you so much for sharing!
W/h/a/t/S/a/p
•+1•9•087•9•3•8•90•5
Man!
I am doing EXACTLY what you are talking about!
The Partnering has SOLVED the last part.
THANK YOU!
THANK YOU!
How?
Purchased a condo in 2019 for 130k, renovations (15k) (worth 300k now and its paid off) took out 200k (HELOC) on it, and rents out for $2,400. Bought a fixer ranch for 310k (Renovations 25k) and worth $425k in under a year.
I'm a police officer and my wife is a teacher. I do all the work myself and work 70 hour weeks....it can be done!!! Start now!
I think I’d be happy renting just one or two homes. We’re just now moving into our first home.
Don’t settle! Leave your job. Find your definition of life. Break away from the chains. Spend it with the people you love.
I have 100k in equity right now and i am learning about these things I can do even start my own auto shop but like I don’t know if worth taking risk
Change the battery on your smoke detector!!!
When you want something done, don't do it yourself. ;-)
It took me half the video to realise it wasnt mine... (wearing headphones)
ODST626 same... 😆
I got crazy anxiety thinking it was mine..
Exactly. I was going to offer to partner with him but if the clown can not even manage a smoke detector - life and death object - then I'm out.
You remind me of the wolf on wall street with the amount of passion and urgency in your voice
If I partner with someone on their credit. How do I secure the home with my LLC to protect my assets?
What documentation did you have to show the bank to prove a certain amount of rent was coming in from a certain property?
Loving the videos Kris. I was hoping you could answer something for me.
you said in a video you're making tens of thousands selling houses a few times a month. is your method of making profit on a home selling it at value when you bought it under value? (thus providing you with the equity with which you bought the next property)
Another question, is how are you finding properties in your range (talking about your early years) with equity of 40+ thousand dollars? are you buying foreclosures?
thanks and keep up the awesome work! I'm learning a bunch!
Great questions. You'll find answers to your questions in this video: th-cam.com/video/htCKJNeMj64/w-d-xo.html
And in this playlist: th-cam.com/play/PLWWMFdKhGQUMkMKpkxv5mwCSe7tgQ05Ng.html
Glad you enjoy the channel!
You are very inspirational you are a very positive person and I have learned a lot
Thanks for your video. Can you let us know, what real estate investment software you are using? In order to keep track of Mortgage and Property Payments + Rental Received? Thank you.
What kinds of places should I invest in? Low cost of living areas? Where I live rent can be expected at 1300 and that’s just to get the owner to break even. And is it smart to invest in places that are far from where your primary residence is?
So I don’t understand Kris. I own a house which I rent two floors. I bought it for 66 now is around 120. I want to move forward and buy my second one. Should I refinance or should I obtain a second loan and pay the 20 percent down. It will be great if you can advice me.
I want to buy a property and then use the equity to buy another one, or how can I do it? I want to buy an investment property
Are you allowed to rent out a home whilst paying morgage for it??
Yeah the thing dont understand is lets say you buy a house for 100 k and you need to pay for it every month for 8 years, you have to pay for it then with the profit from rent buy the second one. It woult take lots of years to buy multiple houses.
3:26 ...you could've bought a 9 volt battery...
Wow, that was very helpful. Thank you
Could you give some more detail about your real estate partnerships? So someone else is paying the down payment or do they put up more than that? And what’s your position/role and how are you compensated?
Or do I have to sign up to your classes to didn’t this out? 😀
Is this the same as owning several houses in different states as vacation homes?
I’m curious what you meant when you said you would eventually tap out because of debt to income ratio?
Do you have to pay the amount back?? And is this a heloc?
so when you bought the investment property with a little equity in it , did you pay the 20% down payment using HELOC? and lets say primary house mortgage is covered by renting out in the basement and then by renting out the investment property you are covering the HELOC interests but what about the mortgage on the investment property on the remaining 80% the bank gave you to puchase the property, what about its mortgage ?
Thanks Chris. I am your new subscriber.
Currently I own 2 properties and I am looking for a mentor. Could you help me out sir?
Cris, you have really motivated me to get into real estate, so thank you for that! I have one property that brings in $1,200 a month cash flow. I have equity in that home and want to get another investment property. If I get an equity line of credit, whats the best way to pay that money back? Thanks in advance
Chris, the object is to use the funds from that equity line, to increase your assets and cashflow. Yes you've have a payment on that equity line, but not that much. The rental income coming in will cover the mortgage and heloc. Then when you purchase another property, you'll also increase in your cashflow. So now you have more equity, and the rental income from the new place is covering the mortgage of that one as well, plus providing you a surplus of a few hundred a month.
i have question reagarding Heloc from the investment property.i just purchase the duplex with 25% down on april 11 2019. can i apply for Heloc form this property and invest to buy new house. Do i have to wait 6 months to get heloc? and last one,is it hard to get heloc from the investment property
Something I'm curious on buying properties out of state. How should you look into finding someone that can upkeep your places. Also what's the best way to have them pay?
This is what property management companies do. I talk about this is several of my videos.
Okay just found you I'm sure I will see that soon. Thanks
Was going to ask the same thing. But not about out of state. I hear all the time that the worse thing about rental properties is managing them. So a big concern of mine is having someone manage my properties for me.
There are companies that do this for you. They know how to find tenants for you, collect rent, everything for you so you don't have to be there.
Life is beautiful when you dig deep to find the answers that work for you. Thanks
Hey Chris ! I'm 19 years old and not quite in the position yet to start by homes or obtaining lines of credit, but I'm just trying to get ahead as much as I can. Could you explain how you actually keep track of you gains and losses for your portfolio to show others. What does something like this look like?
Maybe I missed this if you said it. But how do you continue to make the mortgage payments and the home equity payments on all the homes and still make a profit?
Each house has a renter that pays me more than the amount of the mortgage payment. So each house increases my cashflow.
Limitless TV Oh ok cool, thank you! I'm actually a MLO at BOA and I've been loving your videos! My wife and I haven't bought our own home yet but we want to be freed from a 9-5 and I'm thinking real estate might be my way to keep from being tied down to a desk and office hours and will help us retire sooner.
@@markhamnolan9910how's it going?
With that HELOC that you took out. How did you pay that back in an acceptable time frame? Did you also use W2 income as well as the proceeds from rent? I don't want that HELOC tied up for 15 years. I want to use it again ASAP.
Hi chris ,up to how many helocs can i have in diferents rental properties ?
how did you buy properties in your name or using an company name i am new in this i have properties in my name just created an LLC still have some questions
Great advice. The use of a credit card can truly change someone's luck.
Need me to come change the battery in your smoke detector? Lol it’s beeping in the background
Can you please tell me if what my bank told me is true. They told me that I have to wait 13 months to request a equity loan. I bought my first investment in September of 2021 so I have to wait until October of 2023 to get a better equity line. the house that I bought is foreclosure property. Also they told me in order to get investments loans I have to have at least two years of taxes.
Hold up. Do lease options still have the same tax benefits as regular rental property?
Yes. It's not really necessary that the govt or bank should know that you are giving your property on lease option.
Hi thanks for the knowledge you share with the world it's really priceless... Can you do a video on purchasing a bank sealed property as their equity value is very high... Your advice please
Wats the link on how to partner with someone 🤔
Hi Chris, my wife and I are pulling out of our 401k to put on a down payment on a first new house for my young family, will finish in May 2018. We’re withdrawing partial this year, the rest next year, to avoid the higher tax brackets. We’re hoping to reinvest (but not sure in what) to offset the costs and hopeful to get a good enough return by the close of escrow. We’re not experienced but have been wanting to start. Can we partner with you to invest? Btw, I love that you’re LDS, we’re LDS too and you’re doing a great deed through your channel. Thank you for your wonderful service.
I am 20 yrs old and I have been told to put my money into a broker account, later into an IRA. I have 5k in there currently, but do you suggest that I keep putting my money into it or use the money I already have to make a down-payment on a home?
I cannot with the low battery smoke alarm 😆
😂😂😂😂
You nail it! We need a partner with the same ideas and trust!
I would like to get more information and mentored on yoir processes. Love your video's
Can it still be done the same way in the UK? because over here it can get expensive.
Chris are there any specifics the basement should have when renting it out? for example should I look for a sink, bathroom, washing machine, ect
Typically it's setup like a complete separate home. Separate entrance, kitchen, bathrooms, living room, bedrooms, etc.
What is this bank that he speak of? Bank of America? National Bank? Just whichever bank we bank with? I’m ready to start NOW!
Man, this is great advice
I’m currently saving $5,000 to put towards my first house. Say two years go by, do I just go to the bank and say I have some equity? And is there any paperwork to fill out to let someone rent my first place while I buy my second place?
Hey Chris! I have been watching your videos for 3 days straight. I am in my last year of my undergrad and looking forward to making some money next year. I have one question about owning multiple homes. So say I have 3 homes on my credit and I decide to not live in any of the homes. I decide to rent the homes or rent to own the property to earn more money. By me only being able to have 3 homes in my credit what and how would I purchase another home for me and family to live in while I collect from my first 3 properties?
question on this home equity line of credit when u said u used that too buy your next investment property , how much did u exactly have to use ? all of it ?
@Zachary Siebenlist the whole equity line or portion
How do you set percentage on the property? Using the partner credit line to get the loan, then you add your name in later? He has 50% and you have 50% + your experience? How do you get pay for your work? Thx in advance.
And what happens when you do a partner deal but say your partner runs into financial trouble and has to sell the other half of the house he owns. Then what do you do?
It's a real partnership. You have an agreement set in place that outlines what you do in all situations.
Kris Krohn - Limitless TV so let’s say you don’t know anyone personally to partner with, how do you find a partner and how can you express what your doing to make them want to partner with you?
Burn It Down
Find a better business partner....more financially secure, great decision making skills, long term career
How do you set up a partnership? How do you structure the payout?
what ever both parties agree on looking for a credit parthner myself with 50/50 profit split. I handle manage tennets an labor
Can credit help the bank own housing
3:30-3:40 is probably the most important part
Chris, How different is this from a REIT? Im ready to move on this. I owned a house and sold after two years +50k. I now own a duplex and can net 12,640 a year. Looking to get into the third 4th 5th +++. Can we speak?
So you bought your first house about 35k dollars below market? Did you have to renovate? Please elaborate
How do you pay for the house for the months while im waiting for the tenant to come sign the rent to buy deal? I'm reading your book.
Thanks,
Gerson
Gerson Escobar The answer I need right now
When I see a housing ad that says Semi detached 4bedroom $99k, how do i know its the actual value or the purchase value?
Pay a property appraiser to go over there and read the property appraisers report .
Chris, would you run into the same issue of partnering if you were buying apartments or condos? If not would that be a better strategy?
What if I got incorporated instead of partnering up, would I still have to worry about tapping out?
I got one question that's been bothering me for quite a long time. So, here it is: Are all those things and principles about real estate investing that you talk about, are they the same for every country? I'm asking because I am from Serbia and the standards aren't the same here. I'm sixteen years old and really looking forward jumping into real estate. Salaries are much more lower than in other countries, so I want to ask you is it even worth to do real estate somewhere where the average monthly salary is around 400$, or I just have to go abroad if I want to do real estate? Thanks in advance!
Whaou I will watch all your videos thank you so much
Well the average house is around 500k here where I live and the minimum deposit to get into them is 20%. That's 100k to save up.. if that's not hard enough then you will need a minimum deposit of 40% for investment properties.. so not easy now. Maybe 10 years ago when minimum deposits were like 5% and house prices were way cheaper.. definitely can't do that now
There are first time home owner loans that do not require the 20% down, you need to speak with loan officer to find out your options. One thing he does not talk about is that with those loans there is always a PMI or private mortgage insurance. If you are military or o vet. you can get a mortgage with 0% down and no PMI.
Try getting a cheap house with Equity
Wtf does he mean by he uses equity? He uses stock in a company?
Move somewhere else? Where I live you can buy double unit duplexes for 100- 125 K both units bringing in a combined rent income of 1800$ or so. Pay 10% down, 10 grand and only pay 600 to 700$ a month for mortgage
@@ve2430 equity is the difference between how much your house is worth and ho much you owe on the mortgage. For example you owe 80 thousand when the house is worth 100 thousand so you have 20 thousand in equity.
Can you still use a HELOC for the down payment?
Articles I've read seem to suggest banks don't like the use of debt as a down payment anymore.
Chris, my question is, if someone has 3-5 thousand dollars to invest into Realestate and they want to start looking at properties, where does one go to actually purchase the property and who do they talk to? The bank, a realtor etc?
5K won't get you an investment property unless it's also your primary residence. Otherwise you'll need $25K to $35K. A realtor that specialized in investment properties is who you want to find.
Limitless TV Thank you sir!
Yeah that’s what I had to pay for my first investment property then don’t forget closing cost etc. It can really deplete your savings. However so glad I did purchase because now the property is paying for itself as a vacation rental. 😀
Can you give an example of your typical profit distribution between your investors?
Thanks for sharing
This is my wake up call thanks
So did you have to wait two years to sell the first few homes in order to avoid the capital gains tax??
Do you do all this under your own name or a LLC?
Does this method work in countries like Norway?
kris how did pay the mortgages every month? for 2 houses
@kris krohn I have a property worth $65,000:-
Rental income:- $540 per month
Home loan EMI:- $330 per month
How can I buy the second property?
how i can do this strategies in Dubai ?
so you dont finance purely with equity you need partners?
Here in LA a 3% down payment is $13,500 average
When you buy a second property aka ur investment property, it requires 20% down payment. So your second home was roughly 90k? Also the bank wants to see 2 years worth of rental income on your tax return. How do u achieve that when u r living in ur first home the whole time?
If a person have a bank mutual can buy another house (if working gain 1000Euros and the mutual is 650Euros per month for 12 years)?!?!?
I have a question, my first house that im still paying for 3 years, how would it affect your plan if i bought this house without the bank? I did it straight with owner to owner with notarized paperwork about our contract.