What Is Possible with Real Estate Investing

What Is Possible with Real Estate Investing

Today I got a special treat for you. I’ve
invited a close friend of mine that has bought a lot of real estate to share
what she’s learned about hidden assets and also hidden strategies. Alright, I’m sitting here today with the
amazing Wylene Benson. Wylene and I have now known each other for a number of
years, we’ve done a lot of incredible things together, we work quite closely on
our belief breakthrough project through limitless but Wylene has really done
something very impressive in real estate over the years. One of the really
highlight today in this video, I want to talk about hidden assets and I wanted to
talk about hidden strategies because Wylene had her experience in real estate
before she kind of came our way and that’s when really the table’s turned
and everything changed. So Wylene, first of all, thank you, thanks for being here,
appreciate you. – Yeah, you’re welcome. Thank you for inviting me. – Do you mind sharing
with everyone here today on our video just maybe a little bit about what
real estate was like before we got started? – Yeah, my husband and I had done a
little bit of real estate before we found Kris’ team and we had a little
bit of success, what we thought was really great success, you know, maybe
$15,000 here, $10,000 there but we made some mistakes too.
So we purchased a property that was above the median price range and I know
you have a video about that and we knew that was a mistake but we kind of,
our hearts got involved and we’re like, oh, this is a beautiful house, we really
want to fix it up and got emotionally attached to it. And so, we spent a lot of money, a lot of time fixing this house up and
then when we put it up for sale, we couldn’t sell it and we even put it up
for rent, we never had one person kind of look at it. – How long did it go vacant for?
– It stayed vacant for two years. – By the way, if you had a property and it
went vacant for two years, you can imagine what kind of mental mindset
drama might be playing out. What was that like for you and Clint to have done some
properties, made ten thousand here, fifteen thousand here, but now all the
sudden, have dumped a lot of money and a big project that you were emotionally
invested and it sits vacant for two years? What was that like? – It was
stressful. I also felt a lot of gratitude, a lot of credit to that we were able to
make the payments and still able to make our own house payments we didn’t that
actually lose the property. – Which is great cause a lot of people in a situation
like this, they might go belly-up and just say I’m done with real estate, I had
a bad experience, I had a bad experience that soured my experience but you guys stuck
with it, right? So you had dabble in real estate, after you had finished
you know that property, what did you kind of decided about real estate
general before that? – When we finally sold the property, we actually did end up
making a profit on it so it turned out being a good experience but we got
totally out of real estate for probably about ten years. – Okay so that was that
you fled from the real estate? – Yes like, okay maybe we’re not quite as smart as
we think we are and so we did other things, you know, invested our money in
other things and just kind of made the decision that we just weren’t going to be
investing in real estate any more until your team was presented to us. – Yeah, so
there’s a lot of people out there, I call this mom-and-pop shop, where you’re out
there, you’ve read some books, maybe you’ve been to a couple seminars, right?
You learn some things and you have enough knowledge to go out there and be
dangerous and you make some money, you lose some money and you get to
experience the full gamut. You can do really well in that atmosphere but
there’s a lot of people that don’t do well and ultimately, what it can result
in is taking a vehicle that is powerful enough to create financial freedom but
have it actually sour enough the experience where you feel, wait, I’m way
too alone in this. I don’t know what I’m doing. So what I want to do right now is
I want to you know, obviously after we met, things really got shaken up. First of
all, what was it about meeting the team that said you know what? After ten years,
I think we’re going to jump back into real estate. – I think what probably changed our
minds was we sat down with you. I know everybody doesn’t get a chance to sit
down with you personally but that was something that we experienced and you
were able to lay out on paper a way that we could use some of the assets that we
didn’t know that we had access to and to be able to use those to buy one property
then turn that into two, turn it into four, turn it into six and to continue to grow
using some hidden assets that we didn’t know that we had. – Because today, you guys actually have – almost six, we’re in the process of buying – so you’re buying your sixth property
right? And do you have a plan for buying more? – Yes, ten is our goal. – Okay, ten. So
you’re over half with your goal, that is super awesome. So I want to just
eliminate this conversation for a moment. What do you mean by hidden assets? – We had
some money in 401k, we had some money in the stock market and we had some money
in an annuity which, you know, traditionally, you can’t take money out
of those things without getting hit with some penalties but we had a unique
situation. My husband was disabled and we didn’t know, we didn’t realize that
that’s one strategy that you can use. If you
if you have a disability, you can actually take money out without
penalties so those were things that your team actually brought to the table and
we’re like, wow, we have no idea. – I do want to ask this question,
in hindsight with what you’ve done in real estate, if you had to pay a penalty
to get it out would you have done it? – Oh yeah, for sure. – Okay, so this idea of
hidden assets, part of what’s fascinating is there’s a lot of people around the
world that take money and we’re told to put it into retirement plans or we’re
told to put it in the market, we’re told to put it in equity in our homes and
never once do we feel like we have this money because it’s not in our bank
account, it’s not accessible. In fact, we’re taught don’t touch it, can’t have
it, penalized if you do, there’ll be taxes, all these things so in our minds, we just
come to grips with, well I guess it’s there for maybe someday but that
day isn’t now and that’s what we really mean by hidden assets because these
monies actually can be put to use and whether you have these hidden assets or
not, first of all, there’s a good chance that you do have hidden assets, hidden
credit, hidden abilities but there’s also hidden partnerships and hidden knowledge
that can open doors and real estate that you may not be thinking about. There’s
not a person on this planet I can’t help buy real estate with. I don’t care if
you’ve got poor credit, no money, there’s still a way for you to do real estate as
long as you have the drive and we’re going to uncover hidden things whether it’s
money, time, talent, resources that can make real estate possible and I want to
talk also about hidden strategies. What is it that we were doing different that
was very enlightening for you when you compared to your old experience? – Well, one
of the things that we really thought was only possible was for us to do it
ourselves. One of the strategies that you guys presented to us was partnering and
we actually did partner on our first property. We had the money to be able to
put into it but a partner was presented to us and we’re like, you know what? Why
use their own money if we’ve got somebody that’s willing up to put up the
cash? – So you got into real estate not necessarily even using your own cash?
Yeah, our very first property, we didn’t spend anything, we just used our credit.
– Awesome. – The second property, we did the same thing but the person who came to us
didn’t have the full amount of cash so we kind of partnered on the cash. – So you
did some money? – Right. So we only had to invest $12,000 and the partnerbrought the rest. – Just for a moment, I want to invite you to think about that
for a little bit. So Wylene, as she’s sitting here today, she’s in the
process of buying her sixth property and you’ve got to plan this
next year for your seventh property, right? You got one that you’re – At least.
– Yeah, so they’re really on the move but notice that out the gate, one of their
hidden assets was their credit and they didn’t even use money on the first deal
and on the second deal, they use some money, not all of the money. What I love
about these private game plans that we conduct for people that often Steven
Miller, my business partner, is usually doing and some other people that we’ve
trained is that it’s all about sitting down and saying, hey let’s give you a
different perspective on your finances. So you you talk about having a team that
came to the table that brought a lot more comfort but let me ask you, I
mean, did you really trust a team at first? – It was a little bit hard to trust
because of the experience we’d had with real estate and you know, doing what we
thought was right and we still had mistakes and so we thought, how can bringing
on somebody else really make any difference but we found out really
really fast that the experience your team had done, you know, hundreds of
properties where we’d only done three or four and so it just, it really made sense
to put an element of trust in there just to test it, you know, just to try it out
and it was very quickly that we found we could easily trust. – Awesome,
Wylene. Well I want to just ask one final question here for today’s interview. We
can talk about hidden assets, we can talk about hidden strategies. Now that you’ve
had, it’s been five years now of investing? So five years of this successful
investing got your six property under way, you’ve got plans for more this year,
if you could share a message with those watching this that are really new to the
game of real estate or maybe like you had been burned in the past by real
estate, what encouragement would you give them? – Actually, I want to share a
real-life example that is happening right now that kind of shows the
benefit of having a real estate portfolio and maybe the dangers of not
trusting, of not moving forward. My husband’s mother passed away a year ago
and in her trust, she left instructions for us to pay a grandson who has some
disabilities, $500 a month for as long as the money lasted. So she gave us a
certain amount of money and probably about 2 or 3 years before she passed, my
husband went to her and asked her if we could use that money to buy a rental
property that if we can invest in a rental property,
that he would have the house, could build the equity and that he would have the
rental income coming in every single month. She had the cash to be able to buy
a property free and clear and to have that. She was too afraid to take the
chance on that, she felt like it was a risk and she felt like it was much
better just to keep the money in the bank and she’s only been gone for a year,
we’ve been fulfilling on her wishes and my husband just looked at the balance
today and it was only fourteen thousand dollars that’s left. – So it’s almost gone.
– So it’s almost gone just, you know, a couple of years from now. – What a powerful
cautionary tale because had the money been used by a property that could pay
four or five hundred dollars a month, that property could exist for a long
time and instead of having a one or a two year benefit, it could have been a
life long benefit. – Exactly. – Thank you for sharing that. When you look at that real
life story in your life today and the tragedy that it is for her, for the
lasting wishes that she really wanted for this grandson, how does that inspire
you to treat your portfolio maybe even different today than you have in the
past? – It really makes me think about my kids and future generations and not only
creating a wealth portfolio to be able to pass on to my kids but a wealth of
information, a wealth of knowledge, wealth of wisdom in how to invest your money in
a way that it continually perpetuates itself, that a way to become financially
free rather than just, you know, keeping the money altogether into an account
which is what we were doing before we you met your team. We were just
saving up and hoping that would be enough and now we’re
getting ready to sell the first property that we bought with you and we’ll be
able to turn that into another one and so we’re in a position where we’re
beginning to perpetuate that income. – That is so beautiful. Wylene, I’m so proud of
you. Thank you by the way, you were touching some heartstrings here today. I
know I’m feeling that like, wow, what a beautiful reminder in to what freedom
really means and so often we get caught up in financial freedom but
subtract the word finance there and it’s about freedom and it’s about using
real estate as a tool a great tool to create value in the world and at the
exact same time, create more opportunities and more freedom in our
own lives for the lives of our loved ones so it
sounds like you’re building up something really powerful of legacy that you can
leave with your children beyond money and I want to thank you for taking the
time to share all those precious nuggets with us. – Thank you. – Thank you. Wow, that was
a lot more touching of a video than I thought we were really going to produce.
Wylene really brought a very special message I think for all of us here. Thank you, Wylene. For every one of you watching here, hope you know that
ultimately, I’m here dedicated to helping you succeed in unlocking your
real-estate potential so make sure you subscribe, make sure that you’re a member
of the channel here and if you’d like to personally work with me and my team, if
it’s time for you to produce results like what you saw Wylene do then make
sure that you also click the button up here where you can view our our website
and learn some of the different options about how we can empower you to succeed
in your real estate venture.

10 thoughts on “What Is Possible with Real Estate Investing

  1. hello, how can i work with ur team? i wanna buy a proprty

  2. I would love to figure out how to buy more properties using no cash, others cash.

  3. Amazing vid as always, thx Kris

  4. Question: How can one get started in REI without cash but have good credit and don't want to do wholesale?

  5. Great video!

  6. Great Video Like Always ,Can’t Wait For Feb 7 Kris,

  7. Hey Kris, I’m in Grand Rapids Michigan. Any thoughts or interests in partnering? Really all I’m looking for is to start a conversation. Let me know! Thanks

  8. Chris love the videos as always,im one of your biggest fan.quick question,you ever use that pool table though,lol kidding aside.pls keep making more informative videos we can learn from.

  9. Can I buy a property with no money as a teenager

  10. if you’re comfortable with it, I’m sure a lot of us would love to see a home tour of your house!

Leave a Reply

Your email address will not be published. Required fields are marked *