Join us for our next "Successful Investor" Monthly Call
Get your most critical training and updates for successful investing through Strongbrook REIC. Join us this month when COO Tyler Bennett shares a market update and valuable insights on investing in our hot markets.
Date TBD
6:00 p.m. PT / 7:00 p.m. MT / 8:00 p.m. CT / 9:00 p.m. ET
Conference dial-in number:
(559) 726-1300
Participant access code:
803699 #
Take a Firsthand Tour into our Hot Market
The Strongbrook REIC acquisition team has been traveling to Phoenix for over two years now and the transformation is eye opening. Click here for a list of homes to look at if you are in Phoenix.
New Strongbrook Client Flow Chart
If you are a new client, click here to download the flowchart showing how all our companies work together for your success.
Announcing our next Strongbrook REIC Intensive
DATES TBD
1:00 p.m. – 6::00 p.m. PLUS Special Dinner at Kris Krohn's home from 6:30 pm to 9:00 pm.
9:00 a.m.-2:00 p.m.
Courtyard Marriott
1600 N Freedom Blvd
Provo, UT 84604
GO TO THE "EVENTS" TAB FOR MORE IMPORTANT INFORMATION
Updates
Our website is getting a facelift! We hope you like our new look. While we are completing the changes, please be patient with our construction!
October 10| by Webmaster 8
Done right? Don't do it yourself!
Ever heard the phrase, “time is money”? If you think about it, that often doesn’t apply. In real estate, however, it couldn’t be truer. The truth about real estate is there are many aspects that are difficult, and require a high degree of expertise. There is also, however, the minutia. The hundreds of hours that go into the deal to run numbers, track statistics, drive to and from Home Depot, spend endless hours trying to get the Realtor and the mortgage officer to communicate, just to name a few. All these hours add up, and you may ask yourself whether you may be saving money by doing them yourself.
What ends up surprising most people, is discovering what their time is actually worth, and what they are saving by NOT doing all the work themselves. Here at Strongbrook REIC we spend an average of 341 hours purchasing a single investment property on your behalf.
Let’s take a moment and look at what the savings are. If you earn $40 an hour and you had to put in the 341 hours, then that investment property is costing you $13,640. Not only that, you haven’t done this 1000 times.
You may have the book knowledge but you don’t have actual experience in going through this process, so you might end up putting double or even triple the time in to do the same quality job.
This is one of the great reasons why I love leverage. In life, you are either being leveraged, or you are leveraging. When you are being leveraged, you are worth a certain number of dollars per hour. When you are the “leverager,” however, you are in the position to create residual impact and earn residual results.
Now, you can’t “pass the buck” on every chore, nor do you want to. But you want to be available to make the most important decisions. In real estate, this means decisions regarding your portfolio. One hundred percent of the gains and losses are yours, so make the time to take responsibility for what you should.
If the team is going to spend several hundred hours with you, spend a few hours ensuring it is under your guidance and direction.
For me, this is the perfect balance of leverage. You can always make more money, you cannot always make more time. Be wise with your time. When you want something done right, it usually makes sense to find the person or people with the highest level of affordable expertise.
By Kris Krohn, Founder & President