How on earth are you supposed to invest your money, when your young? What if you're in your 20's? In this episode Kris shares exactly how you can take a little bit of money in your 20's, and turn it into an handsome retirement.
Watch and Enjoy!
Kris Krohn & Nate Woodbury
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Video by Nate Woodbury (The Hero Maker)
Has to be a select few because if everyone was doing it you'd have clientele.
Not that I'm questioning your credibility because I've known about you for years, but you know that not everyone is intelligent or organized enough to take advantage.
I love your honesty though and I appreciate your down to earth description of the opportunity. Please send me some information. It's perking my interest.
Houses where i live (Toronto) are $800,000. Condos are selling for $400,000. Mortgage rules have been tightened; six figures incone or a huge down payment is required.
I'm 23 and have about $20,000 saved up, can't even DREAM about investing in real estate.
So I'm wondering if you were to buy a house for $100000 when you can pay $10000 you will have to take a loan. You will rent out the house but it will take quite some time to pay this debt off but in the meantime you're buying more houses but your debt is just growing... So can someone explain this to me?
I am only 19, but I believe that I am off to a good start. I invest through Navy Federal, and through Robinhood. I possess equity in 30 companies, and in one index fund. Since January 24th, 2018, I have made an 8% return. It isn't much, but I am focused on long-term growth.
I see people bashing this guy, but I know people that do the same thing as him. The only thing is I can’t invest in real estate as it is really expensive in Canada. A small home is Toronto sells for over a $1,000,000. People that I know that do this started years ago before the insane prices and are now multi millionaires. For someone that does want to invest in their 20s and become a millionaire by retirement, the stock is a great way to achieve that.
QUESTION @limitless TV (and a few heads up not mentioned in video): Do I sell and invest in stock market or use as down-payments for other homes($70K) or do I keep it as an equity bank for investing in other houses? Or do I buy more houses using equity in this.
NOTE: I'm assuming bull market is going to go down at some point and assume 9% which outweighs the interest rates saving if I put more towards principle. My goal is to have a few rental houses for passive income given the rental houses tend be pretty solid investments since people always need a place to stay (decent areas, near good school districts).
I have 2 homes in two different states; excellent credit. My investment property mortgage rate is 2.75% (historic low). I walked into equity as mentioned in video (bought for 85K and now worth 165K without any home improvements). I just moved and bought a second house and used a Locked Home Equity Loan using investment house (Equity Rate of 4.5% for 10 years ($30K). Currently I owe $55k on house, but have a $30K equity loan against it. Assuming realtor involved due to my out of state position (6%) plus closing costs, will cost $10K roughly). I could fix up myself for $4k and sell more, but to keep it simple neglecting that.
From what I know so far, you can sell your primary home without any capital gains tax within 2 years of moving out of it; so if i sold it i'd have this to invest in market: ($165K-55K-30K-10K)=$70to invest. If I rent it out, I'd be getting about $8-10K per year at the moment (yes that # will increase as principle goes up and interest rate decreases).
Behold the power of leveraging your money using debt! Make sure you know the market you're investing in. Pay attention to metrics like population growth, job growth, and new housing being built in the area. Knowledge is critical especially at this stage of the market cycle.
20% down is more than enough. When I first started looking at real estate, condos were going for around 200k.
I only had 10k at the time and wanted to make a higher down payment so I waited. In a year I managed to save 35000$ which put me over my 20% goal, but in that same time condos had gone up to over 300k.
Long story short I bought for 320k about 6 months ago and its now worth over 400k.
The longer money sits in savings, the longer it is not sitting in an appreciable asset.
But honestly real estate as your sole investment is not good advice, its the same idea as dumping all of your equity in the stock of one company, except worse, except stocks generally have a higher potential for return.
And im sure the seller looks at the value of their house before they sell it. They wont be coming up with a random price in their head like 'hmm..i believe my house is worth 100k because i just do'. They will obviously look at the value first before they sell it. And if they dont do that then they will pass it to the estate agents and they will do it for them.
You wanna make money from real estate, buy land, by a house that needs to be moved or demolished, learn how to place that building on the land and refurbish.
This is what got me started. Took alot of hard work and time.
That is the truth. Dont listen to this crap. You are just buying dept and putting yourself in a hard posistion.
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that is nuts, I live in Canada and right now for first home buyers they won't even give it to you unless you give 20 % down, the average house price in my city is 900k, and the average condo price is 500k, i had to put down a 35% downpayment to get a 500k condo. The average salary for a new grad is around 30 to 50k, but since i took engineering and i had internship experiences my salary is 70k a year ot start, that means i can only take out a morgage of 350k, which means i still cant buy a house with out help form parents and friends.....
Canada has much stricter mortgage approval requirements than America. You may be upset that Canada doesn't let you buy a house you can't afford, but in 2008 when the economy crashed ultimately because of loans people couldn't afford, Canada's housing values only dropped by around 50% where America's dropped by significantly more.
On a side note, I live in Vancouver and I bought my condo with less than 20% down. So idk.
If you are this already rich why make YouTube videos? Is it just because you want to share your knowledge to everyone? Or is it just something you are passionate about? Or maybe something else? Just curious.
1 hour ago
Im just taking a chance here , im from South Africa and im looking at your videos and advice , i just got into the property market and got 3 student houses so far ... im still thinking that the american market is better to get into and easier cause the intrest is so low , we pay about 12% ... is it possable for me to invest in your country to diversify ...thanx
Not trying to sound cocky or show off, but I’m 21 years old I’ve been working full time for about 2 years now as a car salesman making a great amount of money on commissions. I have saved $50,000 so far. But I do not know what to invest or where? I know it’s a good enough amount to get started. Just not sure where
Brotha where have you been all my life!!😂 I'm only 19 and I'm already on my way; but it's hard a lot of the time to gain much needed info. Especially when these "gurus" talk for 20 mins. All the while not saying a single mf thing. I appreciate your wisdom brotha. Keep passing it on, and we all will do the same!🙏
This is bullshit , just ignoring how any of these 3 homes were paid for after the 5k down , yes I understand equity , also your networth out of college would not be 250k, you bought 3 houses you would have all that debt
You also started StrongBrook Real Estate investment company that didn't own any real estate and charged lots of money for investors to come learn via direct sales (multilevel marketing). Returns of 8-10% don't even beat the S&P.
I met you in Seattle and I think some people made money with you. But it wasn't my cup of tea. However all those payments to become sales members definitely made you rich. What was the retainer fees? $4,000? Upfront before you could buy with them.
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