How to Invest in Real Estate With No Money
Thanks for watching me go on about how you can buy real estate with no money!
Can you actually invest in real estate with no money? Toady, I'm going to get to the bottom of it. But one thing's for sure - YES, it can be done!
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LinkedIn: Kris Krohn
Kris Krohn is a real estate investor and the founder of Real Estate Investor TV.
Visit this website to learn more about Kris http://reinvestortv.com/
Kris Krohn also established an instructional guide for investors, The Strait Path System, and is the author of The Strait Path to Real Estate Wealth.
Unlock your wealth potential! Take yourself to the next level! Join Kris on his 3 day wealth intensive program http://bit.ly/2b2vr8f
Kris lives in Orem, Utah, with his wife Kalenn and their four children.
Film by Nate Woodbury
Just curious - when you said you brought your father in law into future investments with yourself - how did you guys sort that out? If cashflow is $500 at end of month, you each get $250? I don't particularly see an older man interested in equity that is shared if a house isn't to be sold. I really do appreciate any insight.
Great info Kris, thanks man! When you said about having a 2 year work history....would that be ANY sustained, taxable income that you could show? Would a lower income, like you referenced, with a great credit score be a great start? Or would you suggest a 2 year work history with a much higher income?? Thanks so much man
I’m confused on some of the statements from your video. You said you used an FHA loan. And for a $110k home purchase, you’d need to put 3% down—that’s $3,300. And that doesn’t include fees from escrow. So you needed more than $3k. Additionally, you stated that you got $40k instant equity. That’s assuming that the house was valued at $150k by an appraiser. Lastly, FHA loans do NOT have equity lines. The only way you can get an equity line is through a HELOC program. If you have decent FICO, I’d suggest a Fannie Mae loan. You’re only required to put 3.5%-5% down. And you don’t have to worry about the added MIP fee from an FHA loan.
This guy explained it so simple I like people like this short to the point and not complicated this guy also sounds like he never forgot where he came from very humble character and willing to share his knowledge you have to give credit and thank people like this..
Thanks kris. I have seen this video a thousand times but what i do not understand is how you used the bank to get money even after owing them 110k. Did you buy the second house after paying off your debt or what? Im still very confused. Also, I have never heard of home owner equity leverage. Is it only available in america??
Alright so I understand how you invested but how did that small investment of you renting those basements and getting the equity make you a millionaire?hows there any way you can rent a basement from the same price or even higher than the mortgage?? I feel like that’s impossible or the renter is just dumb
Isn't it a huge hasstle and ton of work just to manage and maintain all of the homes, and all the numbers you are responsible for like taxes, etc? Or do you end up just selling the homes in which the responsibility is transferred to the buyers?
I'm halfway through your book, to be Frank, your the most straightforward person I've seen with a sales pitch. The further I progress through the book the more motivation I receive to get started. I have practiced the law of attraction for over 10 years and i have seen the positive and negatives, so I understand your thinking. And I firmly believe that my thoughts have manifested into your presentation of real estate investments and I hope to be working with you eventually.
This was our most popular video for a while... it was the 4th video we've ever posted. Nate suggested I revisit the same topic in a fresh way, and it worked. In the last two weeks our channel jumped from 80K subs to 140K subscribers. Wow!
There is always a possibility that you default on the loan and then you're really fucked with 3 credit cards on a $105,000 loan that is charging you interest every year. I mean this is the same thing as gambling, objectively, not a smart strategy at all. Guys dont borrow money to invest, only use cash
. My only problem or question is, wouldn't this lead to a large amount of debt. Say you follow this strategy and have 10 properties, you then have 10 home loans and about the same in equity loans. I get you try to have tennant's pay the loans and then a little more for your residual income, but this seems pretty risky
In Real Estate Investing there is Always 'Money Down'! It just doesn't have to be your Money! So 'No Money Down' is more of a play on words in my opinion and as we all learn how to structure deals, the 'No Money Down' option can be presented in your offer. .
Cheers for this, been searching for "first time investor in real estate" for a while now, and I think this has helped. Have you ever come across - Ponasson Estate Earthman - (should be on google have a look ) ? Ive heard some unbelievable things about it and my brother in law got great success with it.
You're awesome for sharing this. Thanks and keep up the great work. We just bought an office building with no money down and all 9 offices are rented out. I'm looking into other things like residential and I hope to do a fraction of what you have done.
You bought the first house at 110K whose market value was 150K, with a down payment of 3K, and the rent was covering your entire mortgage. I didn't understand one thing - How did you buy the second house keeping the first one? The 40K equity position you talk about, what does that mean? Please reply.
$5000 down payment. I used a mortgage for the rest. They didn't know how to sell it for $150,000. They were happy to sell it to me for $110,000. Have you ever bought anything on discount or on clearance? Same thing.
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