How I Bought My First Property At 22 Years Old

How I Bought My First Property At 22 Years Old

Hey, what’s up? Kris Krohn here and today
I want to talk to you about my very first property I bought at the age of 22.
I’ve gone on to do hundreds of properties, thousands and today, I want to
just kind of share with you how it all started and what was a young 22 year old
thinking. I’m challenging you. If you’re younger to do it sooner than me. And if
you haven’t done it yet, make it happen. I’m sitting on the steps of this tiny
little bungalow property. My realtor had brought by like this amazing epic pizza
from the famous pizzeria and my wife were sitting around the steps and it was
a surreal moment run. I’m eating this pizza and I have hardly any appetite
because I just finished buying my very first home. Powered me felt like an adult,
part of me felt scared, part of me felt really accomplished. What
I didn’t know in that moment on those dirty steps taken possession that
property, was that years later, I’d sell it makes $65,000.
Along the way, I ran out that basement and I’d live for free and ultimately it
would be the start of something that would change everything in my future. You
see when you buy your very first house, you’re either buying a home or a house
and you need to know which. Most people they’re buying a home. They’re buying a
place that they can live in. They’re buying a place that they’ll say, “Hey, this
is my abode.” This is where my family is going to get raised or this is where I’m
going to hunker down. This is where I’m going to lay down some roots. But not for me. I
didn’t buy a home. I bought a house. My buddy bought a home on the hill. Beautiful. We
have the same income. I bought an investment property that’s what I mean
by house. There was a plan behind it. The plan was for this thing to launch an
entirely different financial future for myself. So how did I get there? Dude, if I
rewind it back up, I was a college kid, totally lost, I couldn’t do what I was
going to college for. I was getting pressure from my in-laws that I was
going to get to sell it if I didn’t get a degree. I was talking to my counselor,
talking about my psychology degree or an education degree or something else.
Nothing felt right and I felt lost in this world.
Twenty-two-year-old feeling lost, I don’t know if any of you can relate to that
feeling but I didn’t know exactly what I wanted to be. What
but and what ended up happening was I found a mentor that put me on a path.
That might happen for one of you right now. You see my mentor I’ve made over $10
million in real estate. And I’m like, “Okay dude, show me what do I need to
do?” And he said, “Well Kris, right now you’ve barely worked a year at this job.
Less than a year, 10 months of history. You need a two-year history and you got
to get some money in savings so you can do a down payment and you got to build
your credit. And he sat down with me and he told me these 3 things. Number 1
2 your work history same job. Number 2, he said save up $5,000 because if you
buy a small home, that’ll cover a 3% down payment and number 3, he
said, “Kris, you got one credit card you need to get 2 more so that you can
show people that you are responsible with using and paying off and using and
paying off your credit.” I did that for 14 months. Now tell you what, 14 months later,
I was driving around. I barely hit the mark where like the banks would barely
go with me and it was weird. It was almost like it was faded. I don’t know if
you’ve ever felt that way where you felt like some invisible hand playing a role
in your life but I strive at home and I just felt like I need to drive home a
different way. So it took this weird long way around through these streets. I would
have never driven just because I felt like it and it was in May and the Sun was out
and it was blue sky and it was snowing sideways. Super bizarre weather but
something that can happen on you too on a rare occasion. And right as the snow
started hitting my windshield, I passed a house so there was a for sale
by owner sign and I just had this feeling, “This is it.” I’ve u- turn my car
around. I parked and I studied the house which was a tiny little brick Rambler
and I studied the sign and the sign said you know for sale by owner. So I was
terrified. I have barely little training. I didn’t know
what I was doing but I got out of my car and I flipped up the back of my
hatchback of my old 1992 Honda Accord or wasn’t even quarter was a Civic it was
red with a little spoiler and I pulled it up and I put and I fished through my
things and I found a patent paper and I remember walking up to the doors of this
house. I could still feel like it was yesterday man. It was like my stomach
was a nuts, silly butterflies. I was terrified. And I was like “Just fake
it. You just fake it. You just fake it. Just pretend you’re calm.” But dude, I was a
young kid and I seriously flat guy like I’m 14 years old. I knocked on the door, this
grouchy woman came to the room only open to the crack. She’s like, “What do you want?”
And I could immediately smell smoke coming in and it was just didn’t smell
good in there. But I was determined. Something inside said, “Leap, this is it.” So
I noticed on the sign she had listed the house for a 110,000. I
didn’t even know what it was worth like I remember saying, “I’d like to buy your
house.” So I started negotiating the deal and I remember, I’m like, a”Aright, well can
i buy the house for a $110,000 and she barked back, “A 110… I don’t like…” And like I’m laughing at myself. I had no agent. I had
no representation like I’ve even seen the house I was making offers like
that’s how dumb and naive I was. I just knew that I needed this thing. Anyway,
funny story is she didn’t want to negotiate at all. She lets me in. I start
walking around. The place is a nightmare. It smells it hasn’t been updated for 40
years. They have two big dogs in the house, poop in the corner. I kid you not
and yet, just something said, “This is it” So I got the information on it and went
back to my mentor and I said, “Alright, here’s the house.” Crunch the numbers
looks like the house fixed up would be worth over a 150 grand. So
I get it under contract with this woman. I go to the bank and the bank turns me
down. I’m like, “Wait a second. I’ve done my homework. I got my credit. I got this.” He
said, Kris, chill out man, you’ve never done this before and you’re at barely able
to do this.” What does the second bank, they shut me down. At this point, I’m like
I’m going to lose my earnest money. I’m going to lose the deal. But on the third
bank, they barely squeaked me through and the moment I sat down that table to sign,
I was terrified, I was nervous and was scared. I was such a skeptic, is so odd
now when I look at myself today. But I did buy that house and my wife and I, we
had a $3,000, $2,700 tax return I think. From
from taxes and we took that and we went to Cancun which I don’t even know why we
did that. But I said we’re going to travel and make
that a habit. So we bought the house, we went to Cancun, came back a week later
and then. then started the adventure. We fixed up this little crap hole. We lived
in it for 2 years, we made it our home, we made it beautiful and you know being
that young and actually getting that advice at 22 buying that house then 14
months later that started everything. What really made it work, was not what I
knew. It wasn’t courses I had taken. It was the help of having a mentor for sure
and then it was the courage to act. It was a good deal and then I acted. I can’t
say how many people don’t take action when the time is right and you reset
your life and you set things back in such a negative way when you do that. So
that’s the story of me guys buying my very first house and I want to tell you
something right now. If you want to make a million dollars in
real estate, you just kind of start with a deal and you’re going to be at like max
scaredness but what you need is a mentor. You need someone that’s got your
back and you need some looking that can check your work. And right now if you
don’t have a mentor, I’m letting you know that that’s the role that I play for
several people. All you got to do is click the link in the description below.
I’m going to give you some information. Get a copy of my book for free. Get with my
team, they’ll explain how it all works. And for those of you that we’re starting
with nothing like me, I created this for you and it’s in service of helping you
get where you want to go in your life because you deserve it. You got this one
life man. Live it epic, live it huge because that first house that could
change everything for you if you do it the right way. Thanks for watching. Listen,
if you’re not a subscriber, become a screwdriver right now, ring that bell.
Tomorrow, I’ve got more videos coming your way designed to help you achieve
not just financial freedom but time free dom, emotional freedom. Frankly, having
it all and living the life of your dreams. You deserve it .You got this one
life, live limitless.

25 thoughts on “How I Bought My First Property At 22 Years Old

  1. hello

  2. I’m 20 turning 21 in August looking into getting a FHA Loan for my first home buyers to get a duplex

  3. Use credit for the downpayment, that's how you get 0% down.

  4. Where is the best place to find a mentor?

  5. I bought my first rental property at 23, and I feel like I’ve had a similar path since. (I talk about it on my own channel). Since buying that house, I’ve been able to build a net worth of $300k in just 4 years. Real estate is the key!

  6. I would teach this to my family. Starting young would be the best plan for my family's future.

  7. You’re an inspiration Kris, I’ll be contacting your team once I have 5K to invest and spend.

  8. Congrats to you man.

  9. Why are people so excited about making ONE million?
    Get excited to make 100s of millions!

  10. 🐐 Video

  11. I wish I would have known this in my 20s. I’m 37 now never too late to start I guess

  12. Bought my first investment property when I was 20! Thanks Dad for instilling in me how important passive income is! I did this for my son. Now he is in his 30s and has over 25 investment properties! He is already talking about teaching his children at an early age. All you young Guys and Gals, Just go for it! Nail down that first deal and just watch what happens!

  13. I’m 18 this is a goal i have in life! I’m going to keep going watch Kris

  14. How much did you make a month in your first house?

  15. I want to come down and hang out with you

  16. I bought two of your books and only received one, its been three months.

  17. It’s hard to keep a 2 year job history with all jobs paying $13 or less with is about minimum wage after taxes

  18. I’m 19 and I’m taking than Merrill’s real estate investing classes coming up in August

  19. Currently been working for just over a year and working on building my credit

  20. What bank did you use

  21. I picked up my first one at age 20 and now moving towards my 38th!

  22. wow only 3k views

  23. Great video and great channel man, I can tell you care and that means a lot to us.

  24. Hey kris im Ezgar , I’m 16 years old you have inspired me to go into restate , I can’t wait when I turn 18 show everyone what I’m capable of

  25. I’m really interested how do i get a mentor ?

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