Thoughts on Kris Krohn?

Question

Hey I'm just getting my feet wet with real estate, and I came across Kris Krohn and I would like to know you're thoughts on him to see if he's selling dreams.

Jay Hinrichs · Answer

I went on his landing page and have heard of strongbook through the industry.. Utah is ground zero for a lot of these companies for various reasons.. But one thing that always amazing me and I am just sayin.. virtually everyone of them leads off with HEY I WAS DEAD POOR POORER than poor then in 3 short years I am now retired just follow my system. LOL. I dont know his system or what he teaches or does there is not a lot of novel ideas or new methods in real estate that have no been done thousands of times over the last 100 years.. And of course some techniques in real estate are more appropriate for different cycles in the economy. LIke how to get rich in foreclosures right now would be pretty tough to do since they are non existent.. or in a uber hot market like now.. owner financing or the super duper lease option niche these all work in heavy distressed economy cycles but pretty tough today. But anyway.. I would like to see one guru open his landing page with .. Hey my family is very wealthy we have done great for the last 3 generations I was never poor but i understand how to make money in real estate and for a fee happy to help ..

Don Konipol · Answer

@Jay Hinrichs

An unusually high number of “gurus” had actually previously declared bankruptcy when their real estate “programs” , almost always highly leveraged, went bust.  It was usually at this point that they determined they were much better marketing, sales and “pitch” men than investors or deal analysts, or negotiators.  So they scraped together the $10 - 20k necessary as a down payment for one of the real estate personality marketing systems (that also charge a back end percentage of the future sales revenue), and were given the program they would be pitching.

Many moons ago I was at a RICH Club (Realty Investment Club of Houston) meeting, when a certain well known former television real estate fix and flipper was the guest speaker.  His ex wife (also on the show) introduced￼ him, and then inexplicably told that they had lost all their money trying to fix and flip when the economy went bad, that they filed bankruptcy, that her husband went into a state of depression and refused to look for a job or even leave the house for three months, that she contacted an old “mentor” of his in Las Vegas, that she got him to go with her to Vegas, and that this mentor had set up the program, marketing etc that he was about to pitch.  So here was a “expert” who was selling either (1) a system he used that ended in bankruptcy, or (2) a system he never used that he was just a “talking head” for.  Meanwhile after the talk the newbies, the always believers, the desperate, and the just plain stupid we’re fighting to get to the back of the room to spend their money and sign up.  When I asked one guy why he would even consider paying for mentoring from someone who was so unsuccessful that they filed bankruptcy, he said that the guru must have been successful or he wouldn’t have been on television.

As a side note, this guru was later interviewed by some minor investment media co.  He was probably blindsided by a question asking him how much he made in the last year from his guru like activities.  He obviously had no idea, so he made up a number that was actually about 50% greater than what the ENTIRE real estate guru industry grosses annually.  And two or three financial publications then produce articles utilizing this unsubstantiated patently ridiculous claim as fact.  So from then on this financially struggling guru, living in a rented home, traveling with his ex wife from real estate investment club to real estate investment club, is being written about and talked about as a centi millionaire.  They couldn’t print it if it wasn’t true, right? LOL.  But wait, it gets better.  If the truth was told and he was just another guru struggling to rise above the “noise” of the competition, he would probably be traveling under the legal radar.  But because a certain unsophisticated part of the populace believes he possesses hundreds of millions of dollars, he is targeting for lawsuits by the attorneys general of at least 3 states, as well as two private law firms trying to put together class action suits.  But I digress.

Jay Hinrichs · Answer

@Don Konipol  Of course one of the pre requisites  for many of these guys is to claim they were broke and living in their parents garage and now look at me with this system I created  ::)  I saw it in the foreclosure rescue direct mails a lot too.. went something like this.. Hey I know your in a tough spot I was once also I also was in foreclose and was losing my home so I know how you feel let me help you out of your situation  Blah Blah blah.

On the flip side there are Guru's out there that Make huge money no doubt.. but as you note there are others that just re tread old info.. Like the Tax sale Overages I think Diamond is recirculating that one.

Shaun Sidey · Answer

This guy is a certified SCAMMER. Beware of him, his companies and everything he puts online. I tried signing up for his 50/50 partnership that he posts on his Instagram. It costs 10k for them to complete one deal for you and to get your foot in the door. Once I was at the finish line of signing up, they switched the deal last minute so a super crappy investment. I told them I didn't want to do the consortium deal, so they offered me another one where I would need to pay a 30k USD down payment and have an EIGHT PERCENT INTEREST RATE. So I said no, obviously. Then they said that I couldn't get the 10k USD back because "the funds had already been allocated". I kept insisting on refund, and they kept gaslighting me saying I'm just "confused" about the deal... they've explained it to me like 5 times. Im not confused. I just dont want the deal. Theyre refusing to let me back out and their customer service team is a joke. Some rude ass, passive aggressive woman called Denise Adams. They also tell you that you'll get Kris's personal cell phone number.. ha. yeah right. the guy legit never responds and when you call, it goes to a pre-recorded message that sounds soooo fake - its clearly not his real number and he doesn't get back to you with any valuable information. The only time I ever heard from the number was a generic "welcome" text and then another message when I asked for a refund to contact his team. Hardly "1 on 1 support".

Beware. This partnership thing is a total scam. I can see by other reviews, Im not the only person this has happened to. This guy is pumping 10's of thousands into his content online with one of the top content producers in the game right now. I guess his strategy is to bait, switch and scam as many people as possible. If you go online, you can see countless testimonials of this guy being called a scammer/fraudster. I really wish I looked into him more before spending this kind of money. I guess I trusted him. He puts on this "hard working religious American" front, when in reality, hes just another scammer online.

DO NOT BUY OR TRUST THIS GUY. THEY WILL TAKE YOUR MONEY AND SCREW YOU OVER.

Michael Carbonare · Answer

@Nate Marshall  Don Lapre. . .LOL. . .that's going old school.  Fun times!

Ryan Rice · Answer

I really like Kris and his system. I’ve bought 7 properties with him and they’re all doing well.

Michael Carbonare · Answer

Yes. that's precisely what he's selling.  Get-Rich-Quick dreams.

Ramon Morales · Answer

@Brynanh Sledge I used his YouTube videos lots at first. It doesn’t hurt to obtain the free knowledge. My golden rule is: if a big investor hasn’t interviewed on the BiggerPockets Podcast it could be for a reason. I bet anything he is selling is available here in this community for free.

Nate Marshall · Answer

I knew guys at Ft Benning who tried to run ads in the base newspaper. LOL

Nate Marshall · Answer

Even successful people get scammed by smooth talking scammers and shills. THERANOS! MADOFF! ENRON!

How many billionaires and millionaires backed Elizabeth Holmes. Don Lucas. Tim Draper. Betsy DeVos.

There are at least 100 Bad Blood worthy stories in real estate right now.

Thoughts on Kris Krohn?

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