Kris I love your videos! I have learned so much! I am 20 years old and followed Your 4 envelope method and just bought my first 2 homes and are currently renting them out to tenets. Keep up the videos man. Your an inspiration!
Hey I’d love to talk to you about how you got started Brennis. I’m 20 years old and if I may ask how did you buy these houses? Did you have a really good job before you started this?
Pretty awesome idea. Can you make a Pros VS Cons video on the lease option? Or some type of video of things that could potentially go wrong/ common mistaks with the LO
I wanna get into real estate as soon as possible I’ve watched like every video at least 4 times to get a really good understanding. At the age of 17 I’ve learned more than I ever would in a tiny class room. I wanna be my own boss at the age of 25. You’re very inspirational man thank you so much.
Ive been following Kris's videos for a year now, also bought one of his books..Looking at everything at an investor point of view..Being a property investor has been my biggest goal, and is also my childrens goals. Ive now come to realize im to far away from my goal because of lack of my past, credit, and job history ect..So now ive come to the realization a lease option can help me to at least get into my first property..I am now watching the videos to use all the information of the benifits for the investor, to pitch to someone I know that can potentially help me buy useing a lease option on one of his properties..
when enthusiasm is shown i know the person teaching is genuine! these two are dropping some real heat within these four videos i love it and cant wait to come back to this vid with the comment saying i did it
Stil watching and loving it so far and I'm confused on where you get the $40k from? The leasees do not pay that right? They're paying it down monthly as if it was an already established mortgage So I'm not sure where it comes from in the equation.
woow! I've never been interested in real estate until lately. I wanted to have a basic knowledge and technics for future plans. This is so clear and plain for my understanding. Thank you guys for sharing this tips
2 questions. 1. If theyre building equity you wont be able to refiance will you? 2. Youll be losing the house if they buy which means no more infinite equity
i am 16 and i have been enjoying your videos, i am taking notes on these topics and relaying them to my parents in a effort for them to try this cause i can see this working and even though they wont try it i surly will
at 8:20 you calculated vacancy as an expense towards the cashflow, however the cashflow number you calculated, already took vacancy into consideration...
I’m 24 I work 70 hours a week and I don’t see a future in taking care of my mom and sister plus my life and doing the things I want I’m willing to do everything it takes I listen to audio books motivational speakers and videos like yours everyday I want all the help and information I can get please help me in anyway you can
Hey man all you gotta do is Visualize everyday where you are and your seeing yourself driving your dream car and listen to affirmations Hope it helps :)
Rent is better than lease option, with a rent you can make your Tennants sign the contract making them do the repairs and maintenance, also if you live about an hour from your property you do not need a property manager yet
Thanks so much for this video. This video is pre-covid days and about 7 years old. Is there any chance you have a video on this topic with today’s numbers?
Kris this is just amazing... What a great channel... You're about to change my life cuz I already made a decision because of your content... I'm 21, live in New York and I'm living in a rent so I'd love to buy my first property whiting the next 3 month.. I don't want it to be in New York... I want to buy in Florida... All I know about Real Estate is thanks to you... I feel like I need more knowledge though
That sounds interesting.. but it's not only my decision... My mom wants to leave in West Palm Beach... She loves it... If your interested in having me as a client I would love to negotiate with u... I would feel in safe hands
Hey Kris, probably u won't read this but I just bought your book because I'm only 15 and I really wanted to invest in real estate, thank you so much for the knowledge
Kris I have 1 question with this tho.. What u typically preach is to use a home equity line of credit to then purchase your 2nd home.. Now you've eliminated that possibility with a lease option, the equity is no longer mine or is it?
Slim Chain this is an option for people that can’t use a traditional loan to purchase a home, however you can still find a lease deal in which you find equity. When someone else leases or buys the home from you, you will see that equity
Kris Krohn I really like to join real estate but dont know how,think you could be my mentor,just a college drop out without employement,love your videos really motivate me
The trick that some people don't understand is that it's simple to understand. It all just makes sense. If you think too deep into it you'll get confused
I was thinking the same thing because the person who they're leasing the home to is the one now adding value to the home. Plus the agreement will be set of the house value of the year the lease was signed.
You are double counting your vacancies. You only take into account 11 months of rent (after 4 years thats 8800) instead of using 12 months which means 1 month is for vacancy. Then you take out a vacancy exp of one month.
He is not counting them twice. He does 4 x 1000 (mortgage expense). You dont collect rent But you do need to pay the mortgage, this creates his 4K expense
@ThatAwesomeSound They most certainly collect rent. Their cash flow is based on cashflow{8.8k) which is rent minus mortgage (this includes a $200 vacancy exp). Plus their mortgage expense is not 4 X1000. If you are calculating mortgage expense: Monthly mortgage is $1000 yearly it would be $12000 and since they are holding for 4 yrs cost of mortg after 4 yrs would be 48000. They calculate a $200 vacancy exp in their cash flow then $4000 in vacancy exp.
He is not double counting. The 8.8k is the cash flow from 11x4 months. Now, with 1 month vacancy, there is no rent collected, thus he has to pay $1000 out of pocket to cover the mortgage. Over 4 years that would be 4k.
Hey You're just awesome! I finished all your four videos at one go. I'm from Malaysia Kuala Lumpur and have been doing deals from bank foreclosure. But this requires huge capital even though it can be very profitable too. Now your teaching has opened up new horizons and business opportunities here. I'm grateful.
Maybe I am missing something, but while calculating the profit on the rented house, how would we not factor in that $44,000 worth of the mortgage has been paid by someone else? (48 months minus the 4 months of vacancy, which is assumed we paid out of pocket). So, after those four years, we don’t owe the 170. We owe roughly $126,000. With that being said, when we sell for $210,000, the number from which we subtract realtor fees, updating expenses, etc., would actually be the difference between $210K and $126K (the balance on the mortgage after 4 years) which would now be $84,000. Thanks in advance. I am just confused as to why, after having someone else pay our mortgage for roughly 4 full years, we say we “owe” 170K on a house we bought for 170K?
Eric Elkus the 1k for the mortgage payment would not be 100 percent to the principal so there is no way the balance would go down 48k. Even if you got a fixed rate for 15 or 30 years the interest is front loaded so the principal change is very minimal in the first 5 years. The property I bought for 72k has gone down to 65k in 5 years. Most of that mortgage payment has gone to interest and property tax, you just bank on the value of the property going up
Totally correct! The $1000 mortgage payment will go towards building equity in the home. BUT!! This $1000 mortgage payment is the same in BOTH scenarios so they cancel each other out. This video is only highlighting the DIFFERENCES between the two options. I hope that makes sense friend!
@@MorisUIC how bad is your interest rate. Obviously the whole payment doesn't go towards the principal but those numbers seem especially bad. I'm currently buying a house for a similar amount but I expect to pay off about 4000 towards the principal a year. More than half of my monthly payment should go towards the principal.
Hi Kris thanks for the video on Lease Option. I want to learn the best terms I can negotiate a Lease Option for myself as my primary residence. My credit is low and job history is only 1 year in a new occupation. I want to buy in 12 months, now I'm working on paying my credit card debts and improve my credit score.
We just got shutdown from a bank for a loan. But we are close to getting the credit where we need it. I will be emailing you in the future kris. Just stumbled upon this have almost the same story. Struggling financially with 5 kids ...I don't feel like "a man" I WILL turn this around and share my success story
Hey Kris, I’m doing a persuasive speech on why you should consider a Lease option over renting out your house and I was talking to a realtor I interned with over the summer and she considers Lease Options to be fraud, why do people think that?
I like how they make those small pauses when it comes to basic math equations and using the calculator. Smart move tho. More minutes being counted on for their UA-cam channel
There are so many assumptions on this video... If the tenants gave you $5000 as down payment that should go towards their equity of the home. In other words, they own $5000 of the home. You are also assuming that this happens twice (thus the $10000) and that none of tenants decide to keep the house at the end. Leasing (also known as home-owner financing) isn’t always the best option. Also, a $200 increase in rent can make any tenant look for other alternatives. This is will make your vacancy period much longer.
After earning thousands of Dollars on investing with a reliable company, I dare not doubt the trade market, with the right skill you'll be making a fortune off the market.
After I looked at the prospectus of the Forex market and saw seeing great results in my investments with Milford Tom , I adjusted my portfolio accordingly to place bigger bets
Seems you knew him recently. He has been my manager for past three months now. He has totally changed my financial state Never met him in person, but work with him for a month and you'll be able to tell he's a genius and a go getter. Never met a better mentor and philanthropist.
Mhhm little vague, I feel that the video should a little longer and there should be more about the why instead of what. It feels like this is too 'amazing' and maybe 'fake' because for me the video went too fast paced and the numbers weren't clear. Also if you do a leace option why is there any vacancy at all with the nonrefundable payment And why is this about the home-owner istead of the buyer, I thought I was going to do a leace-option and buy it later with profit. Now you guys propably didn't mean to give that impression and I am coming from a lower place, but it didnand feel scammy.
Chris! I join many people in comments by saying I really love your style and the quality of videos you make! Your numbers on this one is a little off. Recalculate your vacancy on rent option.
Kris this is gold brother. Great as always! Can't wait for the next 3 videos. I live in Canada so I understand not everything is the same but really love the content. Great work! Cheers
You missed a crucial part where you didn't state how much of the "rent to own" rent is going towards lowering there final sale price if they decide to buy it.
All these people trying but you got to know that not everyone can do this because we still need people buying the houses to live in them and getting the perfect price never really happens it’s a big waiting and thinking game so don’t get you’re hopes up
Nice layout of the total understanding. But this guy Is not wasting his time on little 200k property's out in the mid west / small town. It would be nice to see a real world example on the east coast.
How are your monthly expenses (cap exp) and Principle interest and insurance(PITI) going to be 1200.00 on a 170K house? They left out the marketing expenses and the possibility it sits empty for a while. You have to have a funnel set up of people wanting to rent to own.
Kris Krohn Hey Kris! Quick question, would the equity you earned by paying down the principal in the mortgage annually also be part of the $40k, added to the $40k, or won’t be part of the equation? And if not, why? Thank you so much for your videos your my favorite of all time 👨⚖️😁
Kris Krohn - Limitless TV you actually get these people to sign these lol? I would never sign I lease where I am responsible for repairs. What happens if the ac unit goes out? Am I paying 5k for that if I don’t own the house. No. That’s not how a lease option normally works lol.
You would if you were paying a bank mortgage on a house, wouldn't you? The bank sure wouldn't. The only difference in this case is that Kris is playing the role of the bank. It's rent-to-own. The property will be yours once you pay the lender back in full.
Sean Morrissey here’s the difference amigo. In situation one, paying the bank, I have the deed in my name. Situation two, the deed of the home is in Kris’s name.
You always came out with wonderful ideas and great video content. I will follow your ways because you the best. Btw, can i know what brand the shirt that you wearing.? Looks cool! Suit you very well.
In your lease option calculation you don’t award any equity to the renter, you’re pocketing every bit of their money. That by definition is not lease to own
It's true when the monthly mortgage Emi is somewhere near the monthly rental income. But where real estate cost prices are too high as in Delhi in India the aforesaid calculation doesn't seems to work. For example here a property worth Rs 1.5 to 2 crore gets monthly rental of Rs 30,000/- only whereas the monthly mortgage Emi would go up to 1.2 to 1.8 lakh per month.
He deducted vacancy 2x, first he multiply by 11 month then he deduct another $4000 equivalent to 1 month each year. It does not make any sense to me !!!!!
All great info, but in this first video should of teach actually HOW to get the house first what you wanna rent out.. Skipped the biggest major step.. I hope in the next 3 videos there will be info about that.
Is it possible the tenant doesn't do the repairs in the lease option, and just lives through wear and tear? They wear things down and don't buy the property in the end, leaving you with a house that requires fixing if you want to do anything with it again? So it's out of your pocket anyways?
No because you state in the contract you create with them that they are responsible for all repair fee's for anything that broke down while they were at your home
To get started in real estate investing I think places likes Detroit and Midwest in general make a lot of sense, as the property values are significantly lower.
Kris you’re videos are great they’re full of great knowledge. I haven’t yet got my foot into real estate but in the next 90 days I will take your challenge and eventually I’ll have those six figures for a personal mentoring from you. Thanks and continue these great inspiring educational videos.
Bro, i want you to know you are my mentor thru youtube... I am actually almost closing my first first ever deal... Having such a nervious breakdown... Please close this deal with me.. Next week is closing will try to call you direct... I was your number in one of your vids... I hope u could help me to do it the Krohn way
![Calculating Numbers on a Rental Property [Using The Four Square Method!]](http://i.ytimg.com/vi/T_7vhsSBi7c/mqdefault.jpg)
Kris I love your videos! I have learned so much! I am 20 years old and followed Your 4 envelope method and just bought my first 2 homes and are currently renting them out to tenets. Keep up the videos man. Your an inspiration!
Wow! Congrats. Glad I've been helpful! Keep up the good work!
Hey I’d love to talk to you about how you got started Brennis. I’m 20 years old and if I may ask how did you buy these houses? Did you have a really good job before you started this?
Congrats! But what's 4 envelope method?
Would love more info, if you're open with sharing?
Brennis Muttilainen I would love to hear more about your homes. If you are open to sharing
im 15 and unfortunatly my age matters but i am taking notes
haha same mate, are you studying economy?
Ayee im 15 to
Gabriel Rocha uh I study economics accounts basically business I.t.... Stocks....
15 year old too, now working in the stock market.
you can still do it you need to have a partner that is orlder do the paperwork and do a contract with them
Pretty awesome idea. Can you make a Pros VS Cons video on the lease option? Or some type of video of things that could potentially go wrong/ common mistaks with the LO
I wanna get into real estate as soon as possible I’ve watched like every video at least 4 times to get a really good understanding. At the age of 17 I’ve learned more than I ever would in a tiny class room. I wanna be my own boss at the age of 25. You’re very inspirational man thank you so much.
How has it been going so far
Hey you're 18 now right?? How far have you come? :) You can do it!
Hi
Your 21 now, how is it? Any progress updates?
We need an update!!
Ive watches this like 1-2 yrs ago, and just now got back to watch it again. Now i understand it well
Ive been following Kris's videos for a year now, also bought one of his books..Looking at everything at an investor point of view..Being a property investor has been my biggest goal, and is also my childrens goals. Ive now come to realize im to far away from my goal because of lack of my past, credit, and job history ect..So now ive come to the realization a lease option can help me to at least get into my first property..I am now watching the videos to use all the information of the benifits for the investor, to pitch to someone I know that can potentially help me buy useing a lease option on one of his properties..
Ginger Waniandy my situation is pretty unique as well and I may have to look into a lease option !
when enthusiasm is shown i know the person teaching is genuine! these two are dropping some real heat within these four videos i love it and cant wait to come back to this vid with the comment saying i did it
Stil watching and loving it so far and I'm confused on where you get the $40k from?
The leasees do not pay that right? They're paying it down monthly as if it was an already established mortgage
So I'm not sure where it comes from in the equation.
Im 13 but already interested in real estate and I think I just learned what a lease option is! Thanks from Finland🇫🇮
You're honestly so inspiring to me. Im only 15 but I have a dream to get into real estate when I grow up.
woow! I've never been interested in real estate until lately. I wanted to have a basic knowledge and technics for future plans. This is so clear and plain for my understanding. Thank you guys for sharing this tips
Krish Krohn is the best salesman I have ever seen
When kris says "take notes, I know you don't normally use it"; look down to my hands holding a pen and a agenda to take notes "try me"
2 questions. 1. If theyre building equity you wont be able to refiance will you? 2. Youll be losing the house if they buy which means no more infinite equity
Definitely going to do Lease Options. Also, I’m watching this at school 😂
i am 16 and i have been enjoying your videos, i am taking notes on these topics and relaying them to my parents in a effort for them to try this cause i can see this working and even though they wont try it i surly will
This was awesome!
I’ve been telling my fiancé this for a whole year now, and finally he understands! 🙌🏼🙌🏼
Miranda Bass LOVE IT! If you want more info email me
kriskrohnrei@gmail.com
at 8:20 you calculated vacancy as an expense towards the cashflow, however the cashflow number you calculated, already took vacancy into consideration...
I have been saving on my 401 for about two years now I would love to start ASAP I am only 24 years old!!!
My first time watching L.O bcuz I didnt understand but u guys explained it perfectly to where I totally understood it.!!!
I’m 24 I work 70 hours a week and I don’t see a future in taking care of my mom and sister plus my life and doing the things I want I’m willing to do everything it takes I listen to audio books motivational speakers and videos like yours everyday I want all the help and information I can get please help me in anyway you can
Move to Denmark :)
Hey man all you gotta do is Visualize everyday where you are and your seeing yourself driving your dream car and listen to affirmations Hope it helps :)
Rent is better than lease option, with a rent you can make your Tennants sign the contract making them do the repairs and maintenance, also if you live about an hour from your property you do not need a property manager yet
I'm 17 and I am already studying for this 😁
Me too 😊
I watched this video at 17 now rewatching it at 18, lets marry
Let’s go to everyone under the age of 19 🥳
Thanks so much for this video. This video is pre-covid days and about 7 years old. Is there any chance you have a video on this topic with today’s numbers?
Kris this is just amazing... What a great channel... You're about to change my life cuz I already made a decision because of your content... I'm 21, live in New York and I'm living in a rent so I'd love to buy my first property whiting the next 3 month.. I don't want it to be in New York... I want to buy in Florida... All I know about Real Estate is thanks to you... I feel like I need more knowledge though
Fantastic attitude! Glad you found this channel. Keep watching these videos, and when you are ready to invest in Florida, let's chat.
Do you have properties in West Palm Beach?
We dont' have inventory, but will find a property that meets your goals. Right now there are some amazing deals in Kissimmee.
That sounds interesting.. but it's not only my decision... My mom wants to leave in West Palm Beach... She loves it... If your interested in having me as a client I would love to negotiate with u... I would feel in safe hands
Do this Real Estate tips only work in America?
I love that 12-18 year old kids are watching this.. I'm 33 and just learning now! Keep on going!!!
W/h/a/t/S/a/p
•+1•9•0•8•7•9•3•8•9•0•5
For advanced info
I like how when scrolling through the comments i see that half the people including myself are 13-18
Thanks a lot Kris I'm just 11 but your videos are so simple, even I understand them thanks man
What the heck is that scream @:20!?!
His video editor 😂
Ha! My son in another room.
Totally our kid!
😂😂😂😂😂
Holding hostages?
OMG...I did it...it's amazing! Thanks Chris!
I’m looking for a video that will tell me how to set it up. Contracts? Lawyers?
Lease option is such a powerful strategy. Consider targeting homeowners that bought right before the peak (2006/2007).
Dude that scream at 0:22 was a sound effect or no because it was perfectly on time.
Hey Kris, probably u won't read this but I just bought your book because I'm only 15 and I really wanted to invest in real estate, thank you so much for the knowledge
Kris I have 1 question with this tho.. What u typically preach is to use a home equity line of credit to then purchase your 2nd home.. Now you've eliminated that possibility with a lease option, the equity is no longer mine or is it?
Slim Chain this is an option for people that can’t use a traditional loan to purchase a home, however you can still find a lease deal in which you find equity. When someone else leases or buys the home from you, you will see that equity
Dylon Nace EXACTLY!
What is the scope of house buying? Within same state? Country? Do you physically go to every home?
I can teach you to rap if you need to. It's kind of what I do lol :D
Smart Rapper Gang wtf you doin here??
Thanks a lot for your videos
Bro wtf haha funny i watch your videos too.
Hahaha we r treading on the same stomping grounds Smart Rapper!
Rob lol lets do a real estate song. 🎙💪
Kris Krohn I really like to join real estate but dont know how,think you could be my mentor,just a college drop out without employement,love your videos really motivate me
Same bro let's work together from online
Whatsaap +917907666974
Thanks will do communicate just saw your message
You had already accounted for vacancies in the cash flow
lol i was scrolling down to see if anyone caught this as well lol Kris is still the man tho 💪🏽
Yep, so in the end he would have made 15k.
Plus he was paying down the principal every month so he would owe less on the mortgage
The trick that some people don't understand is that it's simple to understand. It all just makes sense. If you think too deep into it you'll get confused
Calin Campbell Real Estate is easy.... TAKING ACTION is what people struggle with
"He's a total math nerd"
Can't do 3rd grade math.
Lmao
Yea that’s why he’s a multi millionaire 🤣
I’m only qualified to do 2nd grade math 👀
@@KrisKrohn lmao
No! Take it to calculus! No problem!
Been a while since I commented but. Can't wait to get started. Now, hurry up and make the videos. How do you set up the lease?
Your adding $40k profit of equity, that wont be yours since your leasing with option to buy to client. misleading ?
True
I was thinking the same thing because the person who they're leasing the home to is the one now adding value to the home. Plus the agreement will be set of the house value of the year the lease was signed.
Yeah I’m literally ignorant on real estate and saw obvious errors all over this video... they need to relax and script this out more
You access the equity before the mortgage and title goes to the tenant... you sell the house to the tenant after the equity is accessed
@@KrisKrohn Do a video on it
Kris amazing content as always .. met your at 2022 Clever Summit …
You are double counting your vacancies. You only take into account 11 months of rent (after 4 years thats 8800) instead of using 12 months which means 1 month is for vacancy. Then you take out a vacancy exp of one month.
well when you're trying to prove your point you don't need to worry about real facts
ahahaha tru bro!
He is not counting them twice. He does 4 x 1000 (mortgage expense). You dont collect rent But you do need to pay the mortgage, this creates his 4K expense
@ThatAwesomeSound They most certainly collect rent. Their cash flow is based on cashflow{8.8k) which is rent minus mortgage (this includes a $200 vacancy exp). Plus their mortgage expense is not 4 X1000. If you are calculating mortgage expense: Monthly mortgage is $1000 yearly it would be $12000 and since they are holding for 4 yrs cost of mortg after 4 yrs would be 48000. They calculate a $200 vacancy exp in their cash flow then $4000 in vacancy exp.
He is not double counting. The 8.8k is the cash flow from 11x4 months. Now, with 1 month vacancy, there is no rent collected, thus he has to pay $1000 out of pocket to cover the mortgage. Over 4 years that would be 4k.
I’ve been subscribed and have had notifications to your channel for some time now, thank you for the great info you guys put out!
Frankie Torres appreciate it! If you want to take ACTION on knowledge that you’ve learned email me and we can get you started!
kriskrohnrei@gmail.com
Thanks for the video gentleman, graduating from college next year and trying to get a jump start on the next chapter of life..... ON TO VID #2!!!
amazing! what are you truly passionate about in life?
I am 15 also taking notes I’ve still got a lot to learn
I’m confused .... but if you rent it out your goin to continue to own that house but I thought if you lease the house your goin give it up one day ?
Kris i have been following your videos and i am learning a lot. I really appreciate man 🤞.
I was wondering how i can get my hands on your book
Rent to own homes are the best thing happened to me. I get them for 300% less than market value from here and then sell it for real price.
How??
Thanks Kris, great rock, solid easy number comparison.
Over 4 years... you'd probably pay $5,000-$10,000 of the principal, so it'd be more like $160,000-$165,000 owed.
Hey
You're just awesome! I finished all your four videos at one go.
I'm from Malaysia Kuala Lumpur and have been doing deals from bank foreclosure. But this requires huge capital even though it can be very profitable too.
Now your teaching has opened up new horizons and business opportunities here.
I'm grateful.
Maybe I am missing something, but while calculating the profit on the rented house, how would we not factor in that $44,000 worth of the mortgage has been paid by someone else? (48 months minus the 4 months of vacancy, which is assumed we paid out of pocket). So, after those four years, we don’t owe the 170. We owe roughly $126,000. With that being said, when we sell for $210,000, the number from which we subtract realtor fees, updating expenses, etc., would actually be the difference between $210K and $126K (the balance on the mortgage after 4 years) which would now be $84,000. Thanks in advance. I am just confused as to why, after having someone else pay our mortgage for roughly 4 full years, we say we “owe” 170K on a house we bought for 170K?
Eric Elkus the 1k for the mortgage payment would not be 100 percent to the principal so there is no way the balance would go down 48k. Even if you got a fixed rate for 15 or 30 years the interest is front loaded so the principal change is very minimal in the first 5 years. The property I bought for 72k has gone down to 65k in 5 years. Most of that mortgage payment has gone to interest and property tax, you just bank on the value of the property going up
Totally correct! The $1000 mortgage payment will go towards building equity in the home. BUT!! This $1000 mortgage payment is the same in BOTH scenarios so they cancel each other out. This video is only highlighting the DIFFERENCES between the two options.
I hope that makes sense friend!
@@MorisUIC how bad is your interest rate. Obviously the whole payment doesn't go towards the principal but those numbers seem especially bad. I'm currently buying a house for a similar amount but I expect to pay off about 4000 towards the principal a year. More than half of my monthly payment should go towards the principal.
Hi Kris thanks for the video on Lease Option. I want to learn the best terms I can negotiate a Lease Option for myself as my primary residence. My credit is low and job history is only 1 year in a new occupation. I want to buy in 12 months, now I'm working on paying my credit card debts and improve my credit score.
Now next to part 2. Really worth it!
The beat boxing and freestyle were appreciated, thanks for the info
Its 2019 im trying to turn my life around doing this
Realshit
You too?
can relate
If you need help email me
kriskrohnrei@gmail.com
We just got shutdown from a bank for a loan. But we are close to getting the credit where we need it. I will be emailing you in the future kris. Just stumbled upon this have almost the same story. Struggling financially with 5 kids ...I don't feel like "a man" I WILL turn this around and share my success story
i love him and have been listening and following him
since the first video
You earned my subscribe when you started rapping . Lol
Hey Kris, I’m doing a persuasive speech on why you should consider a Lease option over renting out your house and I was talking to a realtor I interned with over the summer and she considers Lease Options to be fraud, why do people think that?
I like how they make those small pauses when it comes to basic math equations and using the calculator. Smart move tho. More minutes being counted on for their UA-cam channel
There are so many assumptions on this video... If the tenants gave you $5000 as down payment that should go towards their equity of the home. In other words, they own $5000 of the home. You are also assuming that this happens twice (thus the $10000) and that none of tenants decide to keep the house at the end. Leasing (also known as home-owner financing) isn’t always the best option.
Also, a $200 increase in rent can make any tenant look for other alternatives. This is will make your vacancy period much longer.
After earning thousands of Dollars on investing with a reliable company, I dare not doubt the trade market, with the right skill you'll be making a fortune off the market.
After I looked at the prospectus of the Forex market and saw seeing great results in my investments with Milford Tom , I adjusted my portfolio accordingly to place bigger bets
Seems you knew him recently. He has been my manager for past three months now. He has totally changed my financial state
Never met him in person, but work with him for a month and you'll be able to tell he's a genius and a go getter. Never met a better mentor and philanthropist.
Calculations are wrong. Also, Where are property taxes, insurance etc?
Mhhm little vague, I feel that the video should a little longer and there should be more about the why instead of what. It feels like this is too 'amazing' and maybe 'fake' because for me the video went too fast paced and the numbers weren't clear.
Also if you do a leace option why is there any vacancy at all with the nonrefundable payment
And why is this about the home-owner istead of the buyer, I thought I was going to do a leace-option and buy it later with profit.
Now you guys propably didn't mean to give that impression and I am coming from a lower place, but it didnand feel scammy.
i know of a 7 hour class from a guy whos made millions using lease option. its as in dept as it gets
Chris! I join many people in comments by saying I really love your style and the quality of videos you make!
Your numbers on this one is a little off. Recalculate your vacancy on rent option.
12x100x4...sweating for 10 seconds....4.800
So can you lease out a property without even ´really‘ owning it?
Kris this is gold brother. Great as always! Can't wait for the next 3 videos. I live in Canada so I understand not everything is the same but really love the content. Great work! Cheers
great info..love the energy and assistance fellas
You missed a crucial part where you didn't state how much of the "rent to own" rent is going towards lowering there final sale price if they decide to buy it.
It's in part 3
That’s why he says they set a base price meaning no matter how much they put toward it, they won’t receive less that that #
Dude, I don't usually comment, but let's just say I had to like and comment this video!
question. how do I report leasers to credit bureau weather they pay on time to improve there credit for future purchase of property? and vise versa
All these people trying but you got to know that not everyone can do this because we still need people buying the houses to live in them and getting the perfect price never really happens it’s a big waiting and thinking game so don’t get you’re hopes up
Wearing that leather wristband Looks like he’s waiting for a falcon to land in his arm😂
Nice layout of the total understanding. But this guy Is not wasting his time on little 200k property's out in the mid west / small town.
It would be nice to see a real world example on the east coast.
he’s a good beat boxer lol
Jose Aguirre, what part does he beatbox? (I didn’t watch this whole video, I clicked away at 30 seconds.)
@@cru3lw0rld_96 oh, Morty. 😂😂
Anonymous what? 😂😂😂
Jose Aguirre bthe b
@@cru3lw0rld_96 you want to see my pog collection😂😂
you are forgetting you made the mortgage payments which is equity as well on your rental property.
The camera never focused on the phone lol
just followed all of this and now own path construction and make $17,000,000 a year
How are your monthly expenses (cap exp) and Principle interest and insurance(PITI) going to be 1200.00 on a 170K house? They left out the marketing expenses and the possibility it sits empty for a while. You have to have a funnel set up of people wanting to rent to own.
Fu Dog Whisperer I go into WAAAYYY more detail in my lease option program! Email me if you’re interested
kriskrohnrei@gmail.com
this blueprint is amazing. Ive never payed more attention to anything on youtube until now
Thank you for your nice words!
Kris Krohn Hey Kris! Quick question, would the equity you earned by paying down the principal in the mortgage annually also be part of the $40k, added to the $40k, or won’t be part of the equation? And if not, why? Thank you so much for your videos your my favorite of all time 👨⚖️😁
But the question is how to do I own or buy that house when I’m 18 with no money?
Here you go: ua-cam.com/video/_dcnQgJj-qg/v-deo.html
Anymore questions feel free to email me
kriskrohnrei@gmail.com
You get it for free in lala land
I do want to say the only thing you forgot on the rent was equity paydown but great information.
With a lease option the renter don't necessary have to buy the house therefore you still have to pay for repairs?
Not unless they move out. The agreement puts that responsibility on them.
All responsibilities are stated in the lease. If you want that on them, you put that on them.
Kris Krohn - Limitless TV you actually get these people to sign these lol? I would never sign I lease where I am responsible for repairs. What happens if the ac unit goes out? Am I paying 5k for that if I don’t own the house. No. That’s not how a lease option normally works lol.
You would if you were paying a bank mortgage on a house, wouldn't you? The bank sure wouldn't.
The only difference in this case is that Kris is playing the role of the bank. It's rent-to-own. The property will be yours once you pay the lender back in full.
Sean Morrissey here’s the difference amigo. In situation one, paying the bank, I have the deed in my name. Situation two, the deed of the home is in Kris’s name.
I have OFFICIALLY subscribed. Thank you for doing this guys!
Carlos Salgado I appreciate it!
Wish I had a friend at my age (16) to talk about these stuff all the time😢😢
I'm 17 thinking the same
@@muaazkasker5075
Lols 17 now. And still haven't found that person.
@@santinogarcia6836 lol, where u from
@@muaazkasker5075
NZ, Auckland
U?
@@santinogarcia6836 Cpt, South Africa
You always came out with wonderful ideas and great video content. I will follow your ways because you the best. Btw, can i know what brand the shirt that you wearing.? Looks cool! Suit you very well.
In your lease option calculation you don’t award any equity to the renter, you’re pocketing every bit of their money. That by definition is not lease to own
PoorlyGenie12 maybe they loose all equity if they don't purchase in the end
They are buying the property from YOU. which you will sell for 200k instead of the 170k you bought it for. that original equity is yours to keep
Also the renter is getting equity by paying for the mortgage and the extra money from the monthly payments is profit for the property owner
The best lectures ever
That doesn't work in most countries!
It's true when the monthly mortgage Emi is somewhere near the monthly rental income. But where real estate cost prices are too high as in Delhi in India the aforesaid calculation doesn't seems to work. For example here a property worth Rs 1.5 to 2 crore gets monthly rental of Rs 30,000/- only whereas the monthly mortgage Emi would go up to 1.2 to 1.8 lakh per month.
He deducted vacancy 2x, first he multiply by 11 month then he deduct another $4000 equivalent to 1 month each year. It does not make any sense to me !!!!!
All great info, but in this first video should of teach actually HOW to get the house first what you wanna rent out.. Skipped the biggest major step.. I hope in the next 3 videos there will be info about that.
Is it possible the tenant doesn't do the repairs in the lease option, and just lives through wear and tear? They wear things down and don't buy the property in the end, leaving you with a house that requires fixing if you want to do anything with it again? So it's out of your pocket anyways?
No because you state in the contract you create with them that they are responsible for all repair fee's for anything that broke down while they were at your home
And if they disregarded what it says in the contract and leave anyways, what then?
sue them
To get started in real estate investing I think places likes Detroit and Midwest in general make a lot of sense, as the property values are significantly lower.
Kris you’re videos are great they’re full of great knowledge. I haven’t yet got my foot into real estate but in the next 90 days I will take your challenge and eventually I’ll have those six figures for a personal mentoring from you. Thanks and continue these great inspiring educational videos.
Awesome. Glad to hear it! Thanks for being a part of this channel!
How did the real estate thing go?
King of the Jungle did ya do it lol
Did you do it?
how is it going dude
Yo yo hello... Ay hi Bro... This is crasy!!! I am doing my first home for sale through lease option thanks to you Mr. Krohn
Bro, i want you to know you are my mentor thru youtube... I am actually almost closing my first first ever deal... Having such a nervious breakdown... Please close this deal with me.. Next week is closing will try to call you direct... I was your number in one of your vids... I hope u could help me to do it the Krohn way
Saw your number