Kris Krohn is the founder and president of Strongbrook and its affiliated real estate investment companies. For more than 10 years, Kris Krohn has realized tremendous personal success in real estate investing and has developed a proven strategy to help others do the same. Kris Krohn developed the Strait Path system for building personal wealth through real estate investing and documented the process in his book, The Strait Path to Real Estate Wealth, published in 2009. Throughout his personal journey and that of the thousands of people he has helped through the Strait Path system, Kris Krohn has found that the very best indicator of future success is having a solid game plan.
Money and wealth are very personal issues. The perceived risks associated with increasing wealth often become a hindrance for many people, says Kris Krohn. While risks should be addressed in any financial deal, Kris Krohn encourages consumers to develop a comprehensive investment plan to alleviate fears, set a clear direction, and keep all actions focused on the end result. For real estate investment, Kris Krohn recommends a realistic 10-year portfolio game plan to direct people where they want to go financially. The 10-year plan should include both beginning and end goals and all the steps in between, says Kris Krohn.
Plan. Find. Purchase. Serve. These four actions are vital to real estate success, says Strongbrook founder Kris Krohn. Here, Mr. Krohn talks about the relative ease of wealthy generations, and explains why real estate investment should be done with more than money in mind.
Q: Thank you for joining us today. We understand that you have developed a revolutionary real estate investment system. Can you explain?
Kris Krohn: The Strait Path to Real Estate Wealth is essentially a four-step system that anyone can utilize to create long-term financial stability. The system has four core phases: plan, find, purchase and serve. In the planning phase, new investors learn to identify their existing resources, outline a 10-year plan, and assert financial self-discipline. Phase 2 outlines how to utilize specific real estate to create maximum profit. Phase 3 of the Strait Path system can be summed up in the words “Buy quickly and most efficiently.”
Compassionate and financing: two words that are rarely used in conjunction with one another. However, Kris Krohn, a founder of the Strongbrook Group, says that a seller financing option known as compassionate financing is perhaps one of today’s most lucrative investment strategies, but one that is often overlooked for its fundamental values.
Kris Krohn says compassionate financing is a win/win buying method for those with less-than-perfect credit, but avaricious investors too often opt for a more self-serving sales option.
Kris Krohn, founder of the Strongbrook Group, is a real estate investment expert with numerous profitable properties throughout the United States. He says that his success is modeled after his philosophy: “If you want something done right, don’t do it yourself.” Many DIY real estate investors fail because they lack essential knowledge in certain real estate disciplines, and they limit themselves with their own workload capacity. DIY real estate investors must recognize when the workload has become too much to handle on one’s own.
Instead of being literal about DIY, Krohn applies this way of thinking to how he chooses people around him. Kris Krohn simply picks the best in their field and gives them the trust and power to make decisions on his behalf.
Q: What are the benefits of assuming a partnership?
Kris Krohn, The Strongbrook Group: Developing a partnership with one or more investors has numerous benefits, especially for those who are rich in ideas and creativity, but lack the funds or credit needed to purchase multiple properties. A partner can provide these things while splitting profits. Also, adding a portfolio of partners offers unlimited growth potential.
Q: What are the primary steps in the Strongbrook Partnering System?
Kris Krohn, The Strongbrook Group: First and foremost you must develop a mentality for partnering. After that, you must understand all of the pros and cons that go along with partnering to create a portfolio of properties. Once identified, potential partners should be organized, then approached. When you find an associate who is interested in a real estate partnership, you can go on to negotiate terms.