The Truth Behind Real Estate Partnerships | Paul O

The Truth Behind Real Estate Partnerships | Paul O

Everyday, haters come knocking on my door
saying, “Kris, for real, man. Tell the truth about real estate partnering. Tell the truth about real estate.” And you know what? Today, I can’t think of a better person to
tell the truth than one of my partners in the last 6 months that’s bought a lot of properties
that is seen the good, the bad and the ugly. Check it out. So, let me introduce to you to Paul. Paul, we meet on YouTube. I don’t know… -9 months ago. -9 months ago. And you watched a bunch of videos and we got
engaged and we decided that actually get in the game and start partnering together. And you’ve had a chance to see the good, the
bad and the ugly of real estate because in the last 6 months, we’ve done 6 deals. -No real bad though, Kris. -I mean… No, no. Seriously. What’s the been the worst part of this whole
last 6 months. For example like, all those properties, how
many of them are rented out? -6. 6 out of 6. -Okay. They’re all rented out. That can’t be bad. But what… Like have been there a bunch of like unexpected
repairs and cost and…. Things like that? -Nothing. Really. -So, what do you think has been the hardest
part about this? -It’s just trusting the process. Really, it’s just having all those preconceived
ideas get in the way of… I mean, we moved fast but we probably would’ve
moved faster for we know it was this straight forward. -Yeah. And now that you know what it is, what’s the
next move? -I just texted Cory to… “Hey, we got to get on another one.” -We got to get on another couple and get them
rolling. Yeah. So, guys. Paul has been one of those partners who comes
in and just says, “Hey, I recognize that I don’t have a residual income for my financial
future. If someday I want to replace my income, then
I need to do something different.” And got all into the game of real estate. But what we did was a little different. Often I’m just telling people, “Go to real
estate. Go to real estate.” Paul came in and said, “Hey, Kris. You have your own personal private team. You accessing the best deals.” And so, we created an arrangement called the
Real Estate Partnership. And that partnership is 50/50. It means, you know, I’m bringing my track
record of 4,000 homes to the table. Paul is bringing his money to the table from
401k, IRA and typical traditional stuff. And we’ve met in the middle. And my team puts in 340 hours of work per
deal. How much work has there been for you on this? -Very little. -But you’ve had the… Dig up some documents for the bank for closing
and stuff, right? -Not very much. The biggest and toughest part was the mindset
training. Like really listening to you and watching
all your videos and content and getting comfortable with who you are and character and the people
that are on your team. And other than that, the actual process of
buying the homes is very simple. -Yeah. Very simple. We got them rented out. And we’re getting some ridiculous deals right
now. But let’s talk about the… We’ve talked about the good. Let’s talk about the bad and the ugly. You know, the reality Paul is sometime, the
next 5 years, one of these homes is going to wake up with a hernia and it’s going to
want to go to the doctor and it will want $5,000 worth of paint and carpet. And that’ll happen. Or you know, there might be unexpected expense
like a furnace goes out or something like that. And you know, how do you think you’re going
to feel when you wake up that morning and there’s like a 5,000-dollar unexpected expense? -Well, we’ve got a SWAN account for that. So… -Which stands for? -Sleep Well At Night. -That’s right. -And I sleep really good. I don’t worry about anything. Actually that’s built in the whole recipe. The whole formula. So, we have cost set aside for… Well, we have the SWAN account but we also
are planning on repairs those sort of thing. -That’s exactly right. So, when you’re brand new and you don’t know
what you’re doing, that’s when the unexpected occurs. Because I’ve been through this journey thousands
times, there is no unexpected. So, one of those expectations is in 5 years,
the properties going to need these things. And we’re saving up for that. We’ve got money set aside for that. So, what I want you guys to understand is
that when we talk about what is the real truth about real estate, what is the truth about
partnering is that if you have experience and you lay the right expectations and you
got the proper team and you’re getting the right deals, you can freaking go out there
and crush it. That’s what we’re experiencing right now. But it hasn’t always been that way. It wasn’t like that for me in the beginning. I had to really learn to do a lot of these
things. What has been… For you, what’s the best part about everything
that we’re doing together? -Just the access that I have to Kris and his
team. Actually just watching your videos in the
beginning I was like, “Man, wouldn’t be cool if I could work with him? How does that work?” And then, I kept watching more and more of
your content. Like, actually there is a pathway to do that. And that’s… When we got in touch. And talked to his team and then went over
a game plan and all and everything. Just kind of flow it together and here we
are. So… -Wow. -We’re really happy with the process. -No, it’s been working really great. And you’ve been a great partner to deal with. I want you guys to understand that there’s
the good, the bad and the ugly on my side too. And when I find the partner, you know, I’m
looking for someone that will either come out to my events for training or do some mindset
training because we’re merging ecosystems. And when you do that, I’m taking all of your
beliefs and thoughts and ideas that are good, bad and negative into my world and you’re
getting mine as well. And you know, I’m super fortunate that we’ve
got a great vetting system with Paul. Paul has been willing to do the training and
has adjusted his mindset where he needed it. But frankly, you got a great one to start
out with. You know, you’ve been successful in business
and life and family. Been a great pleasure being to work together
and make that all happen. So, it is a 2-way street. And this one so far is going great. But we’ve both understand that we’re going
to take those 5 homes and we’re going to turn them into… Well, 6 homes. We’re going to turn them into 12. Take 12 turn them into 24. Today, was kind of cool. You came in town though for kind of private
production of our brand new unlimited program. What are you excited about there? What’s that about? -It’s… So, unlimited partnership is ability for partners
to leverage Kris’ power team. And to be attached… The biggest thing I think that’s… I mean, it allows us to do more real estate. But it allows us to work with people who could
also, benefit from this. I work with a lot of people who are in similar
situations where they save money. They’ve been really good savers. And you know, they’re counting on the stock
market or whatever to be their retirement. And I just want to offer this to them as an
option to maybe one at this to your plan for retirement or for the rest of your life. -Yes. So, for the very first time ever, I’ve actually
opened up my personal power team that buys the best properties and the best markets. And I usually just build those portfolios
with my partners. But I’ve now made available for my partners
at a level to be able to bring other partners into their ecosystem and use my team to build
that. The biggest reason behind that was, you know,
Paul, you and I. I think we originally game plan like that we might be able to do 10 homes
together. And then we wait. 10 will become 20, 20 become 40. In time, we’re going to make a lot of money. But this is a way for you to go faster and
say, “I don’t have to wait.” I’ve got my 10 while I’m waiting for them
to multiply like rabbits, I could get start partnerships with other people and be able
to do that. So, you know, really, we’ve been able to create
I think for the last 15 years the most cutting edge approach to doing real estate in the
most intelligent way. Paul, I’m glad that you got to be an awesome
like we’re zipping of it. We get to be out there crushing in the market. For anyone else out there that might be wondering,
“Hey, is real estate really worth pursuing?” You came from super traditional back ground. And you’ve jumped in heavy. That’s something you recommend for people. -Absolutely. I mean, I’ve been waiting for some like this. I just, I hate the stock market. I hate roller coaster up and down. I love having something that is a solid asset
that’s going to generate revenue for us into the future, you know? Don’t want to work forever. -Absolutely. Well, listen guys. Thanks for watching. Paul, thank you for being here. Listen, if you’re not a subscriber, subscribe. Everyday, I’m dropping some new content here
just for you. Helping you become a ninja in the world of
real estate, wealth, mindset and having it all. And listen, if you watched enough of my videos
and you haven’t gotten my free book, it’s in the link below. It’s a great way to get some hard core information
on how to crush it in real estate. Get a million dollar game plan. And also get consultation with my team if
you want one. Or we can put our self in your shoes and say,
“Hey, as experts, this is what we would do to start making real estate happen in your
world today.” So, take advantage of that and we’ll see you
on tomorrow’s video.

10 thoughts on “The Truth Behind Real Estate Partnerships | Paul O

  1. Your suit is fire 🔥

  2. Kris you literally save lives

  3. Nice work fellas. In my experience, as long as the partnership has trust, is drawn out with clear roles and a desire to succeed from each party, are all winning traits of an incredible partnership. 🤙

  4. Kris if you see this please reply…

    I have contacted you a few times now and even sent a video, and got no reply from you or your team. Please give me just a chance to talk to some of your colleagues.

    Thank you!

  5. Got your books, got your info I just need some help… Contact me.

  6. Indian Ben Shapiro

  7. Been waiting for someone from your team to connect with, just starting out and am looking for a mentor

  8. I love u Kris

  9. All your videos volume be super low🤦🏽‍♂️

  10. Looking forward to see you in Utah 14,15,16th,kris. I buying the lease option pro training.looking to crush it in real estate.maybe partner with kris and power team once i get up and rolling.

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