This is exactly what they don’t want us to know. Especially minorities. In the U.S. at a point in it’s history there were laws against letting African Americans build equity. The season they and other minorities groups are so far behind in that area compared to caucasians
Thankyou, you didn't have to put this knowledge out here, and you didn't have to put it out for free either. So thankyou for all your videos I'm about to watch
@@andrewsilvia1900 check with a reputable lender in your community...often times there are grants and programs where you only have to pay 3% down or even less to buy a home.
For you Americans out there, I live in Canada where the property is crazy expensive. So when he uses examples of purchasing homes for less than their worth, this doesnt apply to me. Otherwise nice vid.
Bro I promise you that was a blessing watching this video! I never understood equity. I typed in in on utube and bam! There you were. I also subscribed. Knowledge is power.
just from this one video i understand completely how you did it... i have been telling my wife this for the last year or so about doing it... she feels there is a risk and she doesnt want to but really im going to show her just like i showed her with the business we own
Yes! Subscribed a few days ago and was wondering what all this equity stuff you were talking about is. After watching about half of your videos I think I figured it out that it was the difference of what you owe on a house and what is worth. I was right! Haha but I'm still glad you cleared it up. I'm 18 and plan on getting into real estate. Keep the awesome videos coming!
I'm so glad you made this video of simplifying what equity means because I was so lost. All the other videos where way too complex, just doing the most with explaining what equity means instead of saying equity is A B & C because of X Y & Z. LAWDNESS! Thank you for not being complicated.
How to you know how much the value of a house is? And if you know it, how can you buy a house for less? And thanks a lot for the videos! I love them💪🏻❤️
I just closed on my first investment property: a studio apartment right in the city center (I'll stick with condos for now, things are a bit different here in Norway). Anyway, you helped me a lot getting my mind in the right place and analyzing deals for a good equity position. It can be a bit hard really knowing what a property is worth, but my best guess is that I walked into 16% equity with my first deal. And that's awesome because my downpayment is 15% ;) So thanks a lot, Kris!
This information is great, I'm 24, and married we are looking into our first home coming up real soon I hope to be able to do this so we can live comfortably. Thank you for the information.
Hi Chris , I'm Marcus a 36 year old father of two and I live in one of your recommended hot bed Markets . I have already purchased my first property with $30 k in equity and I am ready to pull out to purchase my next property . I just ran across your channel yesterday and you have put the flame to the fire. Now I HAVE TO WATCH YOUR video on Procrastinating . I really need help , my brother is my real estate agent and he says similar things but you make it understandable !
Thank you for making this so easy to understand! Equity is a buzzword I hear thrown around all the time and I never really got it until now. How does equity translate in a renting situation? Does it even apply? I'm hoping to buy someday but not quite ready to. Thanks!
Who else thinks he looks a bit like that actor in American Sniper😂😂. My dad has been in construction and real estate he never taught me anything like this😬😬, thank u so much sir
Thank you again Krish. Im really starting to become a listeniner of yours! Your content is cool and you deliver it with excellence and confidence. I will meet you one day, Thank you
But how will you be able to buy a house worth 300K for only 200K, and if you do, then what makes you think you can sell for 300K, most likely potential buyers will also be looking at around same price as you bought it, unless you had to wait a while for the right time??? Great video by the way, very informative.
this guy should be teaching our kids i say that in the most positive way when i was in high school it was hard to stay enthusiastic when the facilitators didnt
This depends on several factors, your credit / fico score (having low-high interest rates), having to purchases home insurance, the market value, landscaping, maintenance, etc) there's a lot that goes into the value of a home
I understand the purchasing value, obviously that is between you and the seller, but how can you decide the value of the house? and what is stopping the seller from just raising the purchase value to the value of the house?
A seller just raising his asking price doesn't change anything. You have to look at comparables. What are other properties in the same area, with the same specs selling for. That's one way you determine value.
Awsome explanation, one question, were u find the value of the house, who determine that value, probably comparing the average value of the houses close by?
It depends on where it’s at in the Housing Market. The market determines the value of the home, to whereas you pay a fee of a few hundred dollars to get it appraised to determine its market value.
Great video. Thanks for the info. When you use the value of a property as a fixed number that means that there is an independent way to find this number otherwise the bank would not be able to agree with the value that you have set. So the question is how to you find the "price" number?
calvin jordan how can i buy a home in 200k which is worth 300k k. And how can i sell that house if i had not the whole amount(300k).And why the seller will give me the house in less than the amount it worth???
Hi Chris! Love your videos. I have a question, I split purchasing a duplex with a partner who are now buying my side out. We bought it for 350,000 and it has appraised for 400,000. I essentially acted as a hard money lender. My question is do I get owed the full $25,000? ($50,000 equity divided by 2) His accountant has deducted fees such as selling fees even though it is just a transfer of funds and no realtor is required. Would love to hear you opinion. Thanks again for the awesome content!
If you purchase a home as a new home buyer most lenders and mortgages require the home to be owner occupied for at least a year before leasing it out or selling it. So how are you by passing that stipulation? Is it because now you are purchasing houses as investment properties and paying at least 20 percent down? I have so many questions and I have some ideas but I need a mentor.
Yes, you are exactly correct. An owner occupied allows for a very low down payment. But I ALWAYS put 20% down on investment properties. I think you'll enjoy my Q&A series: ruclips.net/p/PLWWMFdKhGQUMkMKpkxv5mwCSe7tgQ05Ng
How do you access equity? Like your bank? The broker you went through? How do you get the credit card with a 250$ limit on it? That’s my main question.
Ask your bank about a HELOC, home equity line of credit. Be cautious though, don't take out a HELOC unless you know an investment is going to give you a return greater than the interest of the HELOC. Buying investment properties is a smart way to use a HELOC because as long as tenants are paying their rent they will be paying for the properties. Good luck my friend, I can't wait for you to tell me about your success!
Limitless, thank you for the video. The only question I still have is that, times that I have done this and used my equity to invest in other properties, the original loan on my house (where i got the equity from) has gone up considerably and this is the only factor that is keeping me from doing this again and again. What are your thoughts on this point?
Okay so equity sounds like a scary word or concept, but from my understanding (correct me if I’m wrong), in the most simple of terms, it’s how much the property is yours.. if it’s value is 100k and I’ve payed 25k meaning I owe 75k.. so far the property is 25% mine basically. I’m 25% into owing it 100%. If I explained that right
5 years ago my wife and I bought a home for our family for $150k it is now worth $275k . We don't know what to do cause it is our first home and we have small kiddos what is your advice. Should we sell purchase another home or stay? I personally think the area might go under in the next year or two.
The stuff i wish they would of taught me in school 🤦🏾♂️
“Would have” not would of
Lawrence Jones513 fact
Yeah, this video is a much better life skill than calculus...for sure
This is exactly what they don’t want us to know. Especially minorities. In the U.S. at a point in it’s history there were laws against letting African Americans build equity. The season they and other minorities groups are so far behind in that area compared to caucasians
That's what your parents are for 🙄😒
Gets in my nerves people like you expect schools to raise children
I’m 15 and this has just changed my life forever. Thank you
Glad to help Davey!
Kris Krohn so if I own a house right out worth 130000 that’s all mine ?
Tyra Phillips yes
Tyra Phillips so now that you’re 18 what have you done
How is your journey going?
I'm 28 own two properties, but today I actually learnt what equity is.. thank you mate, just wish they taught us stuff like this at school
Thankyou, you didn't have to put this knowledge out here, and you didn't have to put it out for free either. So thankyou for all your videos I'm about to watch
Glad you found this channel!
please ,will you explain me how this works
i dont think he does this for free lol
Do you get a loan to start? I don't have 20k for a down payment.
@@andrewsilvia1900 check with a reputable lender in your community...often times there are grants and programs where you only have to pay 3% down or even less to buy a home.
what a chill dude just giving out free knowledge what a time to be alive
This is the kind of stuff that should be taught in school!
I thought he heard me when I said the answer out loud! Great Video
That's awesome. Glad you enjoyed the video!
For you Americans out there, I live in Canada where the property is crazy expensive. So when he uses examples of purchasing homes for less than their worth, this doesnt apply to me. Otherwise nice vid.
Willie Austin 😂😂I caught myself answering out loud too!
lol
Willie Austin Hahahahahaha haha!!!!!! Meeeeeeeentooooooo!
I wish I was taught in my 12 years of school ! Real things that matter on how to get financially ahead in life !! Thanks man you're awesome !!
Supplementing my college educations lack of business classes with these, great stuff, thanks man!
Thank you for posting these. I'm a property owner and you've changed my thinking on investment properties. Thank you and keep up the awesome work
From equity to self love, this dude got it all. Great video 🤘
Bro I promise you that was a blessing watching this video! I never understood equity. I typed in in on utube and bam! There you were. I also subscribed. Knowledge is power.
I literally just didn’t know what equity was but heard people talking about it and i wanted to know so i looked it up and this was so simple
just from this one video i understand completely how you did it... i have been telling my wife this for the last year or so about doing it... she feels there is a risk and she doesnt want to but really im going to show her just like i showed her with the business we own
I’m 18 in real estate school I wish you were my teacher you’ve helped me so much with understanding real estate thank you for your videos !💕💕💕
the fact that my practice exam asked the question exactly how you explained it i got the right answer!
Yes! Subscribed a few days ago and was wondering what all this equity stuff you were talking about is. After watching about half of your videos I think I figured it out that it was the difference of what you owe on a house and what is worth. I was right! Haha but I'm still glad you cleared it up. I'm 18 and plan on getting into real estate. Keep the awesome videos coming!
Thanks for commenting. Glad you enjoy this channel.
Limitless TV np thanks for being here! :)
Mama Krohn need to produce more of this man. This world and especially this generation needs it badly. Much love and respect to you brother.
That's literally all you needed to say.
2:12
Equity is the difference between home value and how much you owe.
I'm so glad you made this video of simplifying what equity means because I was so lost. All the other videos where way too complex, just doing the most with explaining what equity means instead of saying equity is A B & C because of X Y & Z. LAWDNESS! Thank you for not being complicated.
Couldn't resist thanking you.... Thanks a lot Sir for such a lucid explanation!
How to you know how much the value of a house is? And if you know it, how can you buy a house for less?
And thanks a lot for the videos! I love them💪🏻❤️
I just closed on my first investment property: a studio apartment right in the city center (I'll stick with condos for now, things are a bit different here in Norway). Anyway, you helped me a lot getting my mind in the right place and analyzing deals for a good equity position. It can be a bit hard really knowing what a property is worth, but my best guess is that I walked into 16% equity with my first deal. And that's awesome because my downpayment is 15% ;)
So thanks a lot, Kris!
Awesome. Keep up the good work. Glad you enjoy the channel!
Awesome! How are you doing now? Do you own more property?
he commited suicid cause of all the debt
@@Andres_Alla how are YOU doing now do you own a property after watching this video??
Hi Kris, Thank you! from Philippines! you have the best videos for real estate investing!
This information is great, I'm 24, and married we are looking into our first home coming up real soon I hope to be able to do this so we can live comfortably. Thank you for the information.
You are welcome. Glad you enjoy this channel!
Thomas Cripe please tell me how this works.....i dont understand it clearly
Thanks man this is great.
You're a great teacher! Wow! Thank you so much, Kris, your Awesome!
Woow we need this type of education in our lives,,,great teacher indeed...Thank you very much.
I’m 8 years old and this helped me so much! Thank you!
I'm thirteen and I'm taking notes on this already, haha.
Keep going
That's great! Start early and you'll be successful!
Hi Chris , I'm Marcus a 36 year old father of two and I live in one of your recommended hot bed Markets . I have already purchased my first property with $30 k in equity and I am ready to pull out to purchase my next property . I just ran across your channel yesterday and you have put the flame to the fire. Now I HAVE TO WATCH YOUR video on Procrastinating . I really need help , my brother is my real estate agent and he says similar things but you make it understandable !
Glad you found the channel brother. Let me know if you want to plug in with my team.
Doing schools work. Appreciate this
Thank you for making this so easy to understand! Equity is a buzzword I hear thrown around all the time and I never really got it until now. How does equity translate in a renting situation? Does it even apply? I'm hoping to buy someday but not quite ready to. Thanks!
Who else thinks he looks a bit like that actor in American Sniper😂😂.
My dad has been in construction and real estate he never taught me anything like this😬😬, thank u so much sir
That is so awesome man! Equity fundamentals followed by Self Love....Cutting edge Champion quality man. Great Life expression
Many thanks for this simple break down Kris....
Who sets the value? The bank? Or the county per say? And why would someone sell a house with a value of of 150k for 120k
The assessor along with the appraiser, If I'm not mistaking
House could be sold cheaper due to foreclosure
Wow I just learn something new today, Thanks boss for really breaking down the formula
Had to subscribe and you did an excellent job explaining it. 😁
Thank you again Krish. Im really starting to become a listeniner of yours! Your content is cool and you deliver it with excellence and confidence. I will meet you one day, Thank you
Chris I love your explanation except that it's almost impossible to find deals where you get that kind of equity
But how will you be able to buy a house worth 300K for only 200K, and if you do, then what makes you think you can sell for 300K, most likely potential buyers will also be looking at around same price as you bought it, unless you had to wait a while for the right time??? Great video by the way, very informative.
I feel like this man is under rated.
this guy should be teaching our kids i say that in the most positive way when i was in high school it was hard to stay enthusiastic when the facilitators didnt
Favorite videos to watch I’m turning 19! This summer and I’m trying really hard to learn all of this! Thank you for your videos!
Excellent video and knowledge you shared! Thank you Kris!
Our house is still in the process of of being made and its built up a little over 40k in equity.
Can you make a video on buying foreclosure properties please
im 17 and planning to buy my first rental house at 18 :) thanks for all the tips
How do u figure the value of the house vs. The price u purchase at?
Pay 300 to 500 to get it appraised. Bank might reimburse you later
Search for deals in that locality as a seller as well as a buyer and then you would come to know the value of any average house in the locality
This depends on several factors, your credit / fico score (having low-high interest rates), having to purchases home insurance, the market value, landscaping, maintenance, etc) there's a lot that goes into the value of a home
Lets goo buddyy you rock!!!
I understand the purchasing value, obviously that is between you and the seller, but how can you decide the value of the house? and what is stopping the seller from just raising the purchase value to the value of the house?
A seller just raising his asking price doesn't change anything. You have to look at comparables. What are other properties in the same area, with the same specs selling for. That's one way you determine value.
Houses price rise over time as well
The equity is the difference between the purchasing value and the worth..which is ur duty to ascertain..iam just try to learn here
Awsome explanation, one question, were u find the value of the house, who determine that value, probably comparing the average value of the houses close by?
It depends on where it’s at in the Housing Market. The market determines the value of the home, to whereas you pay a fee of a few hundred dollars to get it appraised to determine its market value.
Wow I learning something new 😢thanks so much
You made this so easy to understand, thank you!!
You're welcome!
Super straightforward and to the point, love it, thanks!
Great video. Thanks for the info. When you use the value of a property as a fixed number that means that there is an independent way to find this number otherwise the bank would not be able to agree with the value that you have set. So the question is how to you find the "price" number?
The set number is the cost to rebuild. Insurance companies know what this number is.
Its not like finding a treasure chest , its like borrowing a treasure chest lol
Borrowed or found a treasure chest is very valuable 😁
@u wot because that would imply we got the house for free. you still have to pay for it 😂
Great Video. I have a clear understanding of "equity". Definitely subscribing
O Ponce - Glad to heat! And glad to have you here!
I've learned so much from your videos Chris I will be joining your team soon.
Thanks dude. This was helpful 👍
Great video! Very helpful. Thanks🙏
so brilliantly explained
Thanks Mitchell
Yes I will
This is perfectly simplified
How to calculate the value of a house? And what is refinancing?
thanks for sharing the ideas. love watching your channel
This guy is a g, he made it so easy to understand. Thank you.
Glad you liked the video. Just yesterday I recorded a sequel to this video... Stay tuned.
calvin jordan how can i buy a home in 200k which is worth 300k k. And how can i sell that house if i had not the whole amount(300k).And why the seller will give me the house in less than the amount it worth???
calvin jordan please ,tell me how this works
it's hard to ascertain value, you just sell what u hope it's worth and look at market competitor prices
I am following your videos for the longest while now and I really do love them and I will like to partner with you.
My God, your videos are too freaking good
Hi Chris! Love your videos. I have a question, I split purchasing a duplex with a partner who are now buying my side out. We bought it for 350,000 and it has appraised for 400,000.
I essentially acted as a hard money lender. My question is do I get owed the full $25,000? ($50,000 equity divided by 2)
His accountant has deducted fees such as selling fees even though it is just a transfer of funds and no realtor is required. Would love to hear you opinion.
Thanks again for the awesome content!
I'll answer this in a future Q&A, but if you need a quicker answer, schedule a chat with me and my team here: bit.ly/2lPGp9d
omg you are so cool. I loved your video. I understand equity better now.
If you purchase a home as a new home buyer most lenders and mortgages require the home to be owner occupied for at least a year before leasing it out or selling it. So how are you by passing that stipulation? Is it because now you are purchasing houses as investment properties and paying at least 20 percent down? I have so many questions and I have some ideas but I need a mentor.
Yes, you are exactly correct. An owner occupied allows for a very low down payment. But I ALWAYS put 20% down on investment properties. I think you'll enjoy my Q&A series: ruclips.net/p/PLWWMFdKhGQUMkMKpkxv5mwCSe7tgQ05Ng
that’s how you teach. thank you
Thanks for another great video. I really enjoy your channel.
How do you access equity? Like your bank? The broker you went through? How do you get the credit card with a 250$ limit on it? That’s my main question.
Ask your bank about a HELOC, home equity line of credit. Be cautious though, don't take out a HELOC unless you know an investment is going to give you a return greater than the interest of the HELOC. Buying investment properties is a smart way to use a HELOC because as long as tenants are paying their rent they will be paying for the properties. Good luck my friend, I can't wait for you to tell me about your success!
Love your videos am subscribed
Thank you! Liked and subscribed.
Thank you so much for this informative detailed video. 👍🏽😁
Awesome video. Thank you very much.
So is a higher equity precent is what you would want.
Limitless, thank you for the video. The only question I still have is that, times that I have done this and used my equity to invest in other properties, the original loan on my house (where i got the equity from) has gone up considerably and this is the only factor that is keeping me from doing this again and again. What are your thoughts on this point?
The biggest factor in multiplying your money, is buying properties with a huge discount.
I adore this channel
Thank you for saying so!
Man, thank you so much.
Thank you for the information ! made everything easy to understand ! going to take your knowledge and change my life
Thank you so much for uploading this video.
Sure thing! Glad you found it helpful!
So how do you know if a property has a higher value than the listed price? Is there an appraisal process? Is it kind of subjective?
Thank you so very much for the clear, visual explanation!
You're welcome. Thanks for commenting!
Fantastic video, really. You expanded very well on what I had previously only assumed.
Thank you for the detail on what equity is. Subscribed.
+Friis Forge your welcome
This was wonderful, thanks so much, new subscriber!
How do you measure the properties value and it’s equity?
Krohn you really awesome,educating and life changing, from Zambia... Please do a video on how to invest in public properties thank you...
awesome vids man love yr energy
Awesome video! Thank you soooo much for making it.
Great video ❤
Love your videos awesome explanations!!
Why Thank you!
You are amazing at explaining everything! Thank you!
Can you make a video for people with no credit, on how to grow and get a home within the next year
I'm listening!
Okay so equity sounds like a scary word or concept, but from my understanding (correct me if I’m wrong), in the most simple of terms, it’s how much the property is yours.. if it’s value is 100k and I’ve payed 25k meaning I owe 75k.. so far the property is 25% mine basically. I’m 25% into owing it 100%. If I explained that right
5 years ago my wife and I bought a home for our family for $150k it is now worth $275k . We don't know what to do cause it is our first home and we have small kiddos what is your advice. Should we sell purchase another home or stay? I personally think the area might go under in the next year or two.