Determining Good VS Bad Real Estate Partners Part 2

Determining Good VS Bad Real Estate Partners Part 2

So listen up friends, if we’re going to dive
into the conversation of partnering, we first got to get something out of the
way. Who’s going to make a good partner and who’s going to make a bad partner. ♫♪ Tonton ton ton ton ton ton ton ton ♫♪ Don
Dada♫♪ Listen, we’re getting married, right? I mean, if we’re going to partner, I want you
to understand something. This is not like just a weird random dude and dudette
that live on the other side of the planet and like, “Hey let’s put up some
money Kris. You do the deals and then it’s like…” Listen, money is not the
qualification for deciding who to partnership. I want you to think of this
a little bit more like a marriage, right? I mean, obviously not as thorough but
when people use that phrase we’re getting in bed together, here’s what it
kind of means. You kind of don’t know everything that you’re going to know about
that person until it’s too late. One of the lessons that I learned in
marriage with my wife that I didn’t understand when I got married nearly 17
years ago, was that I wasn’t just marrying who I understood her to be, I
was marrying everything I did not know about her. In fact, I was also marrying
every decision she was going to make in the future that I wasn’t aware of. And
this can produce a risk. You see, I have a long-term track record of treating my
partners fairly and building wealth over the last 15 years. But there are some
unknowns. One of those is what will the economy do. And for me, who will you be as
a partner? You see, you got to have standards. And one of my standards is, I’m
making enough money in my life where I want to work with people I like. So, by
the way, if you say, “Wow, I think I might want to partner with Kris. I’ve got some
money and I want him to cherry pick the very best deals.” And if you actually
click on the link to speak to a member of my team, you need to understand that
there is an interview process. And what they’re going to do is they’re going to learn
about your how abundant versus scarce you are. There’s scarcity and prosperity,
right? They’re going to also be just checking out your attitude, your
personality, how you show up. Are you more of a positive person, more of a negative
person. They have an interview that… I ain’t going to tell you too much about it
because I don’t want to ruin it. I don’t want you to have to answer all the
questions the right way. But here’s what they’re trying to figure out. These
highly trained individuals have spent a lot of time with me. They’ve been in my
personal airspace, my home, my events. They know me and they know who makes a good
partner and who doesn’t. I’m inviting you to think. What would a good partner be
for you? What kind of morals do you want them to
have? What kind of ethics? How honest do you want them to be? Because I wish
everyone was perfectly honest but that’s also probably not true. That’s a great
lie. Do you want them to have family values? Or do you really not care at all?
Those are things for you to be thinking about… When you’re considering your partners
and… Here I’m telling you about the way I partner with people so that you can
understand. And I want to tell you why. Here’s the story of real estate. We buy a
home and let’s say we own it for 1,500 days before we sell it. And when we sell
it, let’s just assume that we make $70,000 profit. Beyond what the money we
put in on it. So, we make $70,000 holding this home for 1,500 days. You as a
partner only had to put in a handful of hours and when you get the proceeds
check and the profits you’re saying, “Man, I freaking feel like I made 5 or 10
or 15 thousand dollars an hour. That was freaking awesome.” I get it. I’m
feeling the same way. But the question is, what happens between
day 1 and day 1,500? Because a couple of things can happen. On any property, at
some point during its 3 year 5 years 7 your holding pattern, it’s going to have a
bad day, okay? It’s not going to have PMS as often as women sometimes get it. But it’s
going to have it’s a moment where you’re thinking, “Oh, this thing’s a nightmare.” Now,
I’m not going to be thinking that. I’m actually here to help you understand
that real estate, you’re going to hold it the first year. It’s been cash flowing.
The second year its cash flow. And the third year its cash flowing. Everything
goes well until one day, tenant moves out. There was $8,000 of
unexpected repairs on the property. And maybe it takes three months before it
gets re-rented because for whatever reason, the rental market slowed down. For
you, you’re having a bad day because you’re brand new and you haven’t been
trained that this is part of the business. In fact, this is actually
something I anticipate. This is why I set up what’s called a “Sleep well at night.”
account. More on that later. Essentially, I know roughly how much pain this property
can cause at a given moment. And we financially fund our business bank
account with enough money as a part of the purchase to be able to handle that.
So, we can do what I call sleep well at night. “Sleep well at night”
It’s your Swan account, right? This is where you get your inner peace. But that
doesn’t mean you’re not going to freak out when that bad day strikes. Well listen.
Every partnership is going to have that day come and when it does, the question
is who are you going to be? Are you going to dig your head in the sand and just
disappear from the face of the planet? Are you going to become irate and angry
and frustrated? Real estate for me as a numbers game.
There’s no emotion to it other than feeling excitement for what will
eventually happen. Because here’s the rest of the story that usually happens.
You got a bad day, you got the money in the business account, we over fund it. We
take care of the problem, we get it rented, we get it back on track.
You’re good again. At some point, we’re going to sell that property. And when we get
those profits and we disperse them or hopefully pass them into the next
properties, guess what you’re going to be thinking? “Man, that was the best thing I
ever did. Back up 800 days, that was the worst
thing I ever did.” Two different statements coming from the
same mouth of the same person. Now listen, I’ve been through it. I’m preusse in this
video because I want you understand that I’m interested in your mindset if I’m
going to partner with you. I’m interested in your mentality. Because I can afford to
be with the right kind of people and besides, if you remember from the last
video I’m saying, “Come out to one of my events.” Maybe multiple. And I want to
train you. If I get the chance to not just partner in real estate but also
mentor you, I will teach you to think like one of the most successful human
beings on the planet. I will show you how to be happy when it’s hitting the fan. I
will show you how to be positive in a world of negativity when you’re having a
bad day. And you will stop having bad days. Because you’re going to determine that
it is your perception that determines everything. And I’m here as your backup
to say, “Hey, you could get a little anxiety, you can get a little stressed.
But we’re going to do some mentoring on it.” And I hope that what happens is that you
choose to change into a more knowledgeable, wiser person that says, “Hey,
Kris is right. I maybe need some faith and trust in the beginning. But this is
actually part of doing a deal. This is a part of what can and will happen. And
we’re preparing for it.” It Doesn’t mean that we’re prepared for everything but
between insurance and our Swan accounts. Friends, we got things covered. Remember,
this is not my first rodeo, it’s not my 500th rodeo, it’s not my thousandth rodeo.
I’ve done this quite a few more times than that. And I’m going to pass that
knowledge and wisdom on to you. Now, things will happen that will take money
out of our pockets where we will lose on our profits. Profits maybe turn into
40,000 instead of $70,000. I won’t tell you those things can’t happen. In fact,
I’ll tell you that they will. This is real investing. And the risk is that we
have a lot to gain. And we have something to lose. Fortunately we’re not in one of
those investments where we can lose everything or
substantial. There’s always something often usually great to gain. So, you need
to understand that even in making this video, I can’t make you any guarantees, I
can’t make you any promises. All I can do is let my track record of the past speak
as we step into an unknown future with politics and presidents and a world and
Technology moving us in places we never have before. We have our experience level
to help us be as prepared as possible. The question is who are you going to be?
Or the partners you select in life, who are they going to be? Ultimately, I shot
this video for one major purpose. I want you to understand that someone having
money and willingness to want a partner is only half of the equation. The other
half of the equation is who are they? And I’m asking who are you? Whether you’re
trying to partner it be partnered with. It’s important to invest in yourself.
Which is why when people get involved with me, find me at one of my live events.
Make the sacrifice, buy the plane ticket, get in the car, drive, pay for the hotel
and have an experience because each one of them is designed to be life-changing
and more importantly you’re making an investment into you. This real estate
between the ears, these five inches, they are the most critical five inches you
will ever invest in. So, if you partner with me I’m going to ask you to invest in
yourself. And I’m also going to make sure that you’re the person I want to invest
in. Anyone can come into the event but not
everyone can be my partner. So, friends, take a hard look at your life and take a
hard look at what are your standards. Who do you want to work with? Me? I want to
work with people I like. I want to work with people I enjoy. And I want to build
wealth with people that I like and people that I enjoy. Set those as
standards for yourself as well. Hey friend, thank you so much for watching
this video. If you are considering partnering, you’ve got a link in the
description where you can take action on that. Otherwise, the next video, we’re
going to be talking about entities and structures and it’s like, “Okay if you say
we’re partnering and putting a business together, then what kind of business
entity is it and how do we actually do that?”

9 thoughts on “Determining Good VS Bad Real Estate Partners Part 2

  1. Bad real estate partner = doesn’t tell you when you’re in a meeting and there’s a booger hanging from your nose

  2. Does your real estate game plans work for real estate investing in UK?

  3. Aye Kris
    Talk abt an awesome video!!
    I would love to come to one of your events and possibly get mentored by a positive individual like yourself. It would be awesome to get into real estate, although i got a bunch of questions and have alot to learn.

  4. Nice new home bro

  5. I honestly would love to partner with you. I'll do what I need to, to qualify. I'm interested in joining the Air Force but I've done research and heard that it's possible.

  6. I always love your content, uncle kris… I'm 15 years old now and i hope i'll be like you in the future :v

  7. where is steven michael miller?

  8. Very true

  9. Hey Kris, my name is Jessee and am working towards saving on my first home. Just wondering if you plan to have future events beyond 2019. I don't want to miss the opportunity to have such pivotal advice from you in case you ever decided to retire for any reason. I plan to use real estate to fund my humanitarian efforts and the timing is my only true concern considering I'm only 23.

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