Isn’t A Fixer Upper A Better Option?

Isn’t A Fixer Upper A Better Option?

To make money in real estate, do you have
to do a fixer upper? It’s a really good question. My name is Kris Krohn. I’ve done over 4,000
single family homes. And I’m here to give you an answer to this. And it comes from a
question that comes from one of you on the other side of the lens watching my videos,
from James who’s 21 years old, in the military and really trying to ask him self, “Hey, if
I want to get ahead in life, should I focus on a fixer upper?” James and everyone else,
got that answer coming your way next. You know when I bought my first property it was
more of a fixer upper than I would ever do again. I mean, this thing I took a wall down
and I expand the room and I had to retile and repaint everything. In fact, there were
big dogs living in the house before and they left piles of crap everywhere. The previous
owners had been heavy chain smoker for who knows how many decades because the white wall
were just nicotine yellow. And by the time I got in there, my wife was terrified. She’s
like, “I’m trusting you because I married you but this house looks terrifying.” And
it wasn’t more than a month later that it was beautiful. We cleaned it up, it looked
great. I’ll tell you this. I’ll never forget what happened. The electricity had been shut
off for 6 weeks prior. We open up the fridge and within an instant, purple sludge came
all over the ground and the smell was so horrific that my wife and I both threw up. I was horrible.
And then we thought we could salvage it because we’re so poor. So, with bleach and masks and
like mat suits, we cleaned this whole thing. You can not undo what had happened to that
fridge. So, I went out to the curb and someone picked it up. We ended up getting a new fridge
there. So, before I can answer this question, James, I want to hear from you. Go ahead an
hop on and share with us your question. -Right now, I’m 21-years old and I do want to make
money because I want to have a big family. So, I grew up in a family of 13. My dad makes
over 100 k a year. And he’s had enough to have us to go to private school and everything
like that. I wouldn’t say I’ve had… I’ve had a pretty good childhood. And right now
I have a car… I have 5,000 in debt for the car. I’m paying it off. And I’m usually pretty
smart with my money. So the thing is in… Even though my grandparent –My grandpa, he’s
a millionaire and he’s… So what he did was he build a company, sold it off. Build a company
with that money, invested and he just… He keeps his building off debt. So, he’s a millionaire.
And my dad has a lot of money. You know, I won’t ever get any of that money at me. I
will eventually, but they don’t give me that money because they want me to do what they
did and make the money of how they did it. You know, learn. And so the thing I want to
ask you is… I’m in a military right now and I want to get a degree in civil engineering.
I want to know if this is a good plan because I want to do real estate. Buying houses and
selling. And not selling them but… Well selling them and renting them at the same
time. And one of my friends that actually work with when I was in highs chool, I worked
the same job as one of my friends. And in 2 years, he bought 6 houses. He’s 27 now.
He’s retired. He’s just traveling. Exactly what you are doing. He’s not as rich as you
but he’s doing what you’re doing and he will probably get to that point. Before I get my
degree, I want to buy houses. And once I get my civil engineer degree, I’d buy a house,
fix it up, rent it out or sell it for way more of a profit than I bought it for. Would
that be a good idea or Is it just better doing what you did? Than just buying a house, making
an equity off of it. Buying another house… And you know, just continuing that cycle as
you explained it. So I want to ask like is that a good plan to actually get a degree
and continue in that or should I just start right off from just buying and selling houses
and just skip the degree. I feel like it’s good to have a degree. So, I want to know
if it’s a good idea to actually get it. Physically, I’m very… You know, I’m motivated and mentally
motivated. So, I know I can do it. I just need a little bit of guidance to actually
know how to do it. And I’m really appreciative of you and your team. Can you give me some
advise on it? Thank you so much for your time. -So James, what I really admire about where
you’re coming from is that I can tell there’s this sincere desire for a solution. You’re
willing to do what it takes. 21, you’re hungry, you’re in the military. And you want to know
how can you get your game on right now, right? I mean… You’ve come from a family of 13,
you want a big family. How do afford all that? I want to drop this on you. In the beginning,
I thought fixer upper was part of making a lot of money because when I fixed up I put
a ton in but I got a ton out. So, I made a good money on some of my fixer uppers. I did
enough of them until one day, I learned a lesson. Every time I could find a fixer upper
that needed a lot of work, I could find another house that needed very little work and was
just profitable. And sometimes more profitable. And the second I figured it out is when I
change my philosophy. Why do I have to work hard to get paid a lot of money. I had to
adjust my thinking that said, “Maybe I can make a lot of money without working hard.”
And you know what? That has become a very important part of my life. So, first of all,
do you need to do a fixer upper? Or would it be a good experience for you? My answer
for you is no. Don’t do that. Why would you do that? Don’t do that. If you going to find
a deal that will take you 3 months or 2 months worth of fixing up and swinging the hammer,
you can probably find another one that doesn’t. Now, right there, I want to tell you something.
Some of you are just… You paused and I lost you and you’re like, “Kris,wait, wait, wait….
Are you trying to tell me that you can find good deals that need very little work out
there? That’s got to be way harder.” It is true that you need a better finding team.
But I will tell you that those deals exist. And I don’t do the heavy cosmetics stuff anymore.
I will do some basic cosmetic. You know, lipstick, carpet and paints and simple stuff. But outside
of that, I don’t do heavy stuff. And I recommend that you don’t touch the heavy stuff. In fact,
the bigger the remodel, the bigger the risk, the more expensive it’s going to be than you
think. And it’s not going to turn out the way that you want. That’s my personal experience.
Am I telling you that you can’t make a living flipping homes that way? Of course you can,
If you want a job. You’re in a military for heaven’s sakes, right? Like, you got busy
going on. Like I got busy going on. I don’t want to be known for being busy. I want to
be known for having freedom in my life. For being able to do I want with my life. Don’t
you? So, make it easy on yourself. James, no. You don’t have to make it harder than
it has to be. If you’re looking for fixer upper, you’ll find one. If you’re looking
for a smoking hot deal that’s not fixer upper, you could find that too. Now James, if you
want a shortcut and everyone of you also watching this video, in the link below I got a free
copy of my book. And I’ve just got a truck load of them in. I give them… Every year,
I give away books. In fact, I’ve given nearly a hundred thousand books away for free. Since
I started doing this. All you got to do is cover the shipping. I want to put the knowledge
in your hands so that you can see how to go from nothing to millions of dollars without
needing to put that money in. How do you do that? It takes a system, it takes a team,
it takes a strategy. And the book reveals all of that and what that looks like. So,
the book is a free gift. And also, if you get the book, it also comes with the free
consultation where my team can step in to 21-year-old shoes and say, “Alright. Where
you at? What’s your real situation fully look like? How do we get you in the game of real
estate right now? Whether that’s a lot of money or nothing at all.” Either way, we’re
going to serve you. We’re going to get you the information that you need. Not just you
James. Everyone else. Guys, thank you so much for watching today. James, thank you for your
question. If you guys have other questions, make sure that you also follow the information
in the links below. I might be making my next video about you and your question. Happy to
make these videos to help you guys out. So, thank you very much. If you’re not a subscriber,
fix that right now and we’ll see you on tomorrow’s video.

11 thoughts on “Isn’t A Fixer Upper A Better Option?

  1. i will definately meet you once in my life man … salute with love from India

  2. 💄💄 lipstick only!! 🤣🤣😆

  3. Hey

  4. Great motivation

  5. "If you LOOK for a fixer upper, you'll find it. If you LOOK for a hot deal/non fixer upper YOU'LL FIND THAT TOO." Love it. We find what we look for.

  6. What about his engineering degree he wants to pursue?

  7. Question: at what point were you able to not have to work 24/7 on real estate and take a step back and others do it for you?

  8. Changed my life thanks

  9. That wasnt really his question…. was it?….

  10. nice one. watching from Ghana. The Mawuena

  11. Nice Sir

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