You know you can hang on this channel and be like, "Wow, Kris thinks real estate is
for everybody."
and part of me kind of does but the reality is, real estate may not be for you if you
fall into one of these 5 categories.
That's coming your way right now.
So I'm going to share with you my top 5 reasons why real estate may not be for you, okay.
Real estate is not for you if...
Let's talk about these 5 reasons and break it down because there are some people that
really shouldn't be in the game of real estate and often failed expectations why we become
disappointed in life so let's save you a lot of heartache and disappointment by just sharing
with you upfront some of the things you need to know and expect about real estate.
Number one, you're going to struggle with real estate if you're afraid of getting out
of the box.
There's fear because society has bred us in a certain way that says go to college, get
a degree and then work in a company, work there for 40 years, put money in a 401k, get
your match, set aside an IRA, try to pay off your house and then be done.
Okay, society's game plan is not a bad game plan, it's a smart game plan for the average
person that doesn't have a plan.
If you're looking at real estate, it's because you might have started to realize that society's
plan i anemic and it falls short, you could even classify it as broken because you could
follow this great plan for 40 years and that retirement have very little of what you actually
need for retirement and so, if you're really attached to society's plan, I'm just going
to tell you right now, real estate is outside of the box.
It's a business, you're becoming an entrepreneur whether you're doing the work or not and that
business mindset means you that you need some mental training, you need some mental strength
training to learn how to be a business owner because they employee mindset is, I check
in, I check out and I get a check and real estate says, I got to do things and I got
to work and I got to be self-motivated, no one's riding my back and so I got to be in
charge of this.
That's a different mindset so the first one is, if you're afraid of getting out of the
box, you will probably make it easier and potentially create your own stumbling box.
Okay, reason number 2 real estate may not be for you is if you're an emotional human
being that ca't separate business and emotion.
Real estate and winning in it is really a game of getting to the crucial numbers and
knowing how to crunch them to know when you have a winner or not and a lot of people that
are highly emotionally charged will look for the real estate deals that emotionally speak
to them or excite them or cause them to think in romantic ways about their dream homes.
Let me tell you right now, real estate is not a romantic sport, it's not heartless,
it's actually filled with heart but not necessarily the emotion that says I'm falling in love
with the house.
I want you to fall in love with the numbers, I want you to fall in love with the deals.
So if you're an emotional human being, you need someone on your team that can help balance
that because I can't tell you how many times I sat down with someone that got so romantically
involved with an idea of a home and they just had to do it and years later turned back and
was like, that was a nightmare.
Well of course it was, you weren't thinking straight, you were thinking just with the
heart and weren't thinking as far as numbers go and real estate, you got to be in your
head to know those numbers so that you have a winner.
So where can you be an emotional human being?
I want you to be emotionally charged about putting someone in that home and giving them
an opportunity for home ownership or beautiful home to stay in.
I want you to be emotionally charged with your goals and your dreams and things that
you want to create but when it comes down to doing the deal, the numbers.
Third reason why real estate may not be for you is if you're afraid of debt.
When you buy a home, you're not going to buy home paid off, that's not how you capitalize
on great ROI's, we're controlling debt for short period of time, we're buying a home,
we don't have a goal of paying it off, we're not doing the 30-year game plan here.
It's like, well if I buy it, I'm paying my mortgage 30 years and now it's paid off.
Better, I'll actually go negative because I can afford to take the hit.
I'm going to do a 15-year mortgage and pay it off.
We're not paying off houses through banks, they want to get their money back 2 to 3 times
over.
We're going to play the game a little bit differently, we're going to control the home,
we're going to get great games and profits on it and then we're going to release it by
selling that home and eliminating that debt.
Real estate is game of controlling a lot of positive debt.
You know, I've shot a video about good debt and bad debt.
Make sure you watch that if you're like, "You just said debt is positive, Kris Krohn?
Are you smoking something?
Are you crazy?"
No, I'm not smoking anything and I'm certainly not crazy, there's actually one word in the
human language for two very different things and one is a bad version and one is a good
version.
Debt, it can be good and debt, it can be bad.
So get educated on that because you got to get accustomed to controlling debt and having
debt and if that debt makes you money, that's what we call a positive debt.
Okay, third reason real estate make not be for you, you're lazy.
Lazy people that don't want to work, don't want to put in the effort and just don't like
efforting of working, that can be a problem but you're totally a hundred percent allowed
to be lazy, some classified me as lazy cause I got a team.
I don't really call that lazy, I call that smart.
I know the things that I like to do and I know the things that I don't.
If you're never landlorded before and you buy your real estate and you're going to play
landlord, you're going to put the tenant in the home, you're going to deal with vacancies,
you're going to deal with loss rent for those months, you're going to deal with talking
to them about the repairs, you're going to be dealing with a lot of entitled people and
if you know already right now, oh my gosh, that does not sound fun to me, that is something
that can really hurt you, so the solution is to have a team and a lot of people will
hire me or my team and say, "Hey, will you help me do my real estate deal?"
I've found ways to do that and leave you with 100% of the profits.
So a lot of people, if you don't have a team backing you up or you're lazy, real estate
is definitely not for you.
And the fourth and final and maybe the most important reason is real estate is not a get
rich quick fix.
At least not the way that I do it.
If you want it safe, sustainable, if you want it to work long term for you then the reality
is, it's going to take time and my belief is that real estate portfolios need 5 to 10
years to match your way and turn into a level of cash flow and equity and net worth that
can create financial freedom for you.
So if you're wanting it to be get rich quick, you're going to gravitate towards strategies
like flips and aggressive flips and some other strategies that people get hurt in every single
day in real estate.
You can do them the right way but when you're and you don't have the team and you don't
have the help, it may not work out for you.
There's a lot of blind spots and unforseenables when you're brand new to the game of real
estate.
So just for a review friends, we're talking about real estate, it may not be for you if
you have one of these 5 situations.
Number 1, you're afraid of escaping society's box and you like the comfort it provides.
Number 2, you're an emotional human being and real estate is an emotional game versus
the numbers game.
Number 3, you're afraid of debt and you don't want to have any debt in your life.
Number 4, you're lazy or you want to figure out how to do it on your own even though you're
not going to enjoy it and don't have the access to team and number 5, you're in it because
you just want to get rich quick.
Real estate can create a tremendous amount of wealth and it can create freedom but in
my world, it takes a team of people to make that happen.
If you want to learn more about my team, click the link up here so that we can educate you
on your different options on how we can train you, work with you, help you, and even do
it for you and otherwise, if those 5 things are for you, don't ply the game of real estate,
it's not for you.
Listen, if you don't fall into one of those 5 categories, then what that really means
by inverse, is that real estate is absolutely for you, it's right up your alley.
And if you want to know the shortcuts on how to get fast, check out my website up here
and otherwise, comment, subscribe and ring the bell, I got more training coming your
way tomorrow.
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