How To Become Rich With No Money

So... you don't have any money... and you want to be rich. What can you do? Well, I have some good news, that's what I did. In this episode I teach you exactly what I did, and how you really can become rich quickly, even when you are starting with no money.

Watch and Enjoy!
Kris Krohn & Nate Woodbury

RESOURSES:
========================

EQUIPMENT
========================

MUSIC
========================
Tobu - Infectious
Licensed under Creative Commons — Attribution 3.0 Unported— CC BY 3.0

Support This Channel:
========================
==LIKE== Your "Likes" help more people find our videos.
==COMMENT== Comment and ask Questions

========================
Video by Nate Woodbury (The Hero Maker)

[CorekBleedingHollow]

How did you buy all these houses for less than what they were worth?

[williammuscato]

Kris is right on the subject of gaining equity when purchasing a home. A house can be listed below market value for a quick sale or be listed as a foreclosure, which most people avoid. There are other scenarios where you gain instant equity. Bidding on a house is a sign that you're likely not going to gain equity since other buyers are signaling you're at market valuation. Yet, bidding on a house does signal the market is on an upswing and you need some patience to achieve the rise in equity.

[princessshammeri]

at 0.00 i thought he was going to say ''Never''' after his evil laugh XDD

[tanveerahmed]

I have a quick question. Let's say I bought a house on equity and I depend completely on tenants to pay my mortgage. If the tenant fails to pay the rent that means I will also fail to pay my mortgage. If I buy the second home from an equity line of credit and let's say I have a 2-3 mortgage. More house I buy, more I will depend on tenants. If they fail to pay, I will mess up too and l will lose my property. How you tackle this problem? not to mention the maintenance cost too.

[KLRJamz]

ask Jesus into your heart. and you'll be rich, in spirit which is priceless.

[mytibrown]

Hey Chris, I'm not really understanding how you were able to live for free with the basement apartment in the first house. Could you further explain how you were able to?

[maurencegibson]

Sounds good, but I thought equity were lines of credit U have to pay back. How are U paying that back with just the rent per month. Remember, U have living expenses and taxes. The repairs are all yours too.

[joesilva]

So say your tenant ruins the house or loses their job and can't/won't pay monthly rent. How can you prevent getting a person like that?

[josephcronin]

Kris how did you determine how much the property was worth? Were you going off of the ARV or what it was appraised for?

[damianking]

Im lost. so you save $5, 000 and buy a house not rent and save more money to buy another house and make it rentable and use more money to buy another house that is rentable? is that what you are saying?

[nickjones]

This is one of the best videos for being able to get money easily! Thank you so much for the help.

[stevenpalacio]

Are these supposed to be long term investments? If you are making $500 a month from each property I'm assuming 100% of that is going into the mortgage for each individual property which builds up equity in the long run... I also worry about what might happen when im juggling 4 properties and all of a sudden I'm without a tenant for 6 months or the housing market is moving slowly and selling becomes difficult. How would you suggest controlling for these factors? Do you do any work on these properties before selling them?

Thanks I'm really enjoying the videos!

[CorekBleedingHollow]

What is equity? I have no idea what that word means?

[Tracks]

When is your next video? :D Keep it up!

[thelifepurposeof...]

Very inspiring video. Extremely helpful, thank you Kris.

[DeadSilence-pthr]

How would you get a mentor? Would you need any college education for real estate?

[abya]

real estate, property investment..that's it... today you can not do this, what house can you buy with $5000 deposit ..????

[septile]

Hey Kris I'm a 14 year old kid and I love watching your videos and I hope you keep up the amazing videos and you inspired me to start my first business a month ago and I have already generated 1k. When I'm 18 I hope to buy my first house using your system. Just wondering if there is anyway that you can get a FHA loan before you turn 18 or not if I have a source of income coming in each month from a company? Thanks and keep up the good work I love your vids!

[bbrownlee]

This really sounds like great information assuming you are keeping your properties rented

[gibransaliba]

You can also wholesale houses with no money

You can start a business for little to no money.
(Zappos started that way)