Hey friends, I am on the hunt. I'm looking for my next real estate partner. So, I
thought I'd shoot a video and kind of share with you what I'm looking for in a
partner and if you're not that partner, I'm going to share with you how you can
actually go get one yourself. Because it's the secret to buying as much real
estate as you want and creating a win-win for everybody.
From time to time I get these comments from some of you out there on YouTube
that are saying, "Kris, this is so cool that you're providing all this training
and knowledge and education but what if I really don't want to, like, learn how to
do real estate? Could I just partner with you? Like, what
would that look like? So, I decided to shoot a little video for you guys today.
And this will apply to every one of you because only a few of you may actually
want to go into partnership with me and I'll explain what that looks like.
But for every else, everyone else, you might have seen some of the other videos.
We're actually talking about, you know, how you can leverage partnerships
beneficially because in real estate, 1 + 1 = 11. And what I mean
by that is, real estate takes some different pieces and you might not have
all the pieces it takes to do real estate. So, let's talk about what is a
partner in the first place. When you do the game of real estate, there are some
assets that you need. You're going to need some money, doesn't have to be yours.
You're going to often need credit, doesn't have to be yours. You need
someone to jump in and actually manage the process, doesn't have to be you. And
then you also need someone that can actually get in and actually do the
actual work. Whether it's repairing something, property managing something or
anything like that. And again, doesn't have to be you. So, where I really created
this financial freedom for myself, as I realized, I don't have to have the money,
and I don't have to have the credit. Someone else already does. What I need to
have is the expertise. And the team that can actually do the real estate. So, if
just for a moment here, if I were to kind of drop a wheel of what this looks like
and divide it into four equal parts, we need money, we need credit, we need a
manager and the last thing that you need is the laborers, okay? These are the 4
things that you really need to make real estate work. You need money, you need
credit, you need a manager and you need the laborers. So, I got into the game and
I figured out on my first couple of deals the hard way that I could learn to
do it very profitably. My father-in-law checked in after a couple years. He was
super skeptical at first but after a couple years, he saw that is about to do
my next deal he said, "You know what you got to tell me what you're up to." And I
basically said, "Well, this is my, this is what I do. I put up the money, I put up
the credit, I manage the whole thing and I'm the laborer. I was everything in
the beginning. And what I did is I created
track record. I had all that profitability, my father-in-law saw that.
He said, "You know what, Kris? What if we were to actually go in on doing some
deals together?" And this is what we came up with. My funding partner, Matt, he put
up the money and the credit, I put up the management and the labor. And even then
it didn't mean that I had to do the labor, although I did from time to time.
And what that amounted to is a 50/50 partnership. So, that's really what a
partner is. And a lot of you on YouTube, reach out and say, "Kris, how can
i partner with you?" Well, the only partnerships that I take on are people
that say, "Well I've got money and I've got credit." And then, "Kris, will you find
the deals? Do all of that? Have your team do all the labor and work and will you
manage the whole process?" Now, pause right now. If you're watching this video, you're
like, "Should I keep watching this video if I don't got money or credit?" Yes, I
want you to learn exactly what I'm doing because you can do this too. I've helped
countless people do this and that's why I'm so excited about this video for you
guys. Now, for me, the requirements when I actually work with a partner is
generally, we're putting 20% down on a property. I'm finding the properties and
the best parts around the entire world, right? Right now in America, I've got 4
different hot markets that I'll go into. I'll find undervalued properties, I'll
find properties with equity, I'll find properties with really great cash flow.
And generally, I'm looking for properties that have a 20 plus percent R-O-I. Now, I'm
good at finding those. If you buy you the way we want to know how to get your
hands on those, you should actually check out my website and that's a great
opportunity for you to actually learn how you can get your hands on my excess
inventory. But that inventory is what I use for me and my partner's. We're out
there buying real estate. I do have extra inventory I can hook you up with that. Go
to the website to learn how but generally, my partner is, what they'll do
is they'll put up 30 to $50,000 on a home and so, they'll put up
the money. If it requires credit, they'll use their credit. If they don't have
credit, we'll actually rent somebody's credit. But basically, they're going to be a
50% owner for putting that up. And then what ends up happening is I'll find the
deals, I'll do the work, I'll coordinate everything from the finding and the
fixing up and the management and then renting out, the loan process, everything.
Everything gets done. And then my partner and I we split everything, 50/50. Now, I
have enough partners that I can tell you that there are some people out there
that say, "Hey, you're getting superior returns, you're getting superior profits.
I don't really want to come in and do the work. Let's team up together."
You can do the same thing. If you actually mentor with me in my system
and actually learn how to do this. I can supply you the properties, you can go
bring them to other people and you can actually do the same thing that I'm
doing or I might have some of you watching this video where you're like,
"Well, Kris I know you only take on a handful of clients every single year but
what would it take if you wanted to partner with me?" Well, generally, I only
work with people that have the ability to buy at least two or three properties
right out of the gate. Usually, that means having $100,000 on up. And then we sit
down and we talk and we see if there's room for the right kind of partnership.
Do our ideals line up, we review my track record, your track record and if we come
together, boom. We're off to the races, were out doing real estate and it's
awesome. Basically, how it works? This is the part that everyone always wants to
know? So, what happens next? Once I have a partner that I start working with, where
we go from there is pretty fun. I'm going to get my partner or the other credit
partner pre-qualified. So, I want to make sure the credit is lined up, we want to
make sure that the money is lined up and then I send my team and we go out and we
find a great deal. Again, you watch these video the same thing you can do in your
backyard or you can go to my website and get the excess inventory. I take those
deals, I present on my partner and then I give
them a performance, a Performance. Something that basically says, "Here's all of our
research on this property. This is why we believe this is a good property. We go
through it together, create a comfort level for it and if we both agree this
is a good deal that we want to move forward on", my partner puts up the money,
goes through the loan process and then from there, I take over everything else.
Once the property is actually purchased, then my funding partner, that put up the
money and credit, their job is pretty much done I'm going to basically keep them in
the loop. Me and my team handle the day-to-day and we're off basically
buying real estate, managing it and I'm going to come knocking on my partner's door,
especially in the next year or two and say, "Knock, knock, this property, we can
refinance it and take our money out of it and keep the property so we can go
buy another one, same investment two properties or guess what? Might be 3,
4 years, it's time to sell that property.
Let's parlay it into our next couple of properties. And here's the goal, if I can
help a partner start with 2 or 3 properties, the goal is over 10 years, to
turn it into a dozen properties. The eventual goal, have them paid off, have
the portfolio growing, how have a producing a killer R-O-I. And I pretty much
kick trash out of all the different financial planners basic 3 to 5%
return products with what I've been doing your real estate. Whether the
markets going up or down. Now, as a bonus, I want to share this with you, you can
learn how to do this. You can take some of my courses, you can go to the website
and learn. I've got a way to specifically tutor you and how to do this.
Partnering is one of my favorite ways of saying, "I got some resources, you got some
resources let's put our heads together." And guess what? Now, we can both be better
off because neither of us necessarily wants to do the other person's part. So,
friends, that's partnering 101. I hope that was helpful for you and I've
got a special resource that I want to give you right now.
So, I've got some special resources set aside whether you want to partner with
me or whether you want to learn how to go find partners. Go ahead and click over
the website and I'll share exactly what that looks like.
For more infomation >> Hundreds show up for back-to-school block party - Duration: 1:09. 
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