All Forum Posts by: Tyler Robinson

Joseph Firmin,

I appreciate the response. My concern with the 1st lien position HELOC is the variable interest rate. I'm currently getting a fixed 4% because I bought these homes as primary residents. I think that's pretty awesome as far as interest rates go on properties that are now investments. I'm 30 years old and have acquired these properties in just the last few years so my total portfolio equity position is probably only 25% to maybe 35%. I know interest rates are likely to stay lower for a while but I'm not sure it would be prudent to have a variable rate especially if it's substantially higher.

The secured business Line of credit could work but the interest is usually higher there aswell and i'd have to refinance my credit lines to be able to access more appreciation capital over time. 

I'd really like it if there was like a hybrid of the two. A product which allows one access to the equity but also have the security of the fixed long term rate. I don't fully understand why a product like this wouldn't be available either because it seems to me like it would help the bank to make more interest money on responsible creditworthy customers all while maintaining the security of collateral as a first lien holder. 

I wonder if there are regulatory restrictions making something like this impossible? I'm guessing that mortgages packaged up to be sold to Fannie Mae and Freddie Mac are likely to have difficulty implementing something like this because maybe the big dogs don't like purchasing HELOCS or can't. Maybe it's to complicated to have an increased credit line second lien HELOC combined with a fixed-rate mortgage sold to these bigger investment companies. I wonder if there is something like this in the non-traditional financing space but then again those are likely to be higher interest rate options as well. I'm sure if i'm feeling this inefficiency in the system other efficient allocators of capital or investors have probably figured out a solution or are equally frustrated as I am seeing some of these same limitations. I'd like to understand why this product doesn't exist and if so would it be possible to create something like this? My gut is telling me investors would absolutely love this type of a product if it were feasible. I mean, who wouldn't want more guarantees and more access to capital if it could compete with the other interest rate options?

I've been contemplating how to maximize my access to cheap debt. I currently own over a million dollars in single-family rental properties and have a secondary HELOC on one of them which is allowing me to access some of the equity in just one of the properties. My frustration is that I would like access to more of the equity inside some of the properties which is in there due to years of appreciation and due to the principle mortgage paydown but I would like to not have to refinance or finance a new HELOC each time I want to access more of this equity. I'd also like to lock in an inexpensive fix rate not just have a first lean variable HELOC.

Does anyone know of a Bank or financial institution which would allow one to lock in a Fixed rate mortgage and a Type of Secondary lean HELOC at the same time? The perfect product would then allow me to access more capital from the HELOC as I pay the fixed-rate mortgage each month equal to the principle paydown amount. The perfect product would also allow me to get reappraisals every so often to access more asset appreciation if I opted for that. This would give me the benefits of the cheaper fixed rate aswell as maximum access to capital all in the same product through the same Institution? I think it would be a big win for the bank aswell because they would get the mortgage and the HELOC Interest money when I access it both with the security of being the primary lean holder. If this is a thing I'd love to hear about it and to whom i need to talk with to get it!

@Account Closed

Kris’s lease option program is probably the biggest scam he offers. I’d bet over 99% of people who learn about it in his system fail at it and It costs $1000 or more to get started. Look up seller financing agreement and combine it with a purchase option agreement. Do each of those agreements with the buyers and sellers and you’ve got a “ sandwich lease option” That’s all Kris’s program teaches. Many states have laws against it and you run the liability and risk of pissing buyers and sellers off as the middle man. You have to do lots of damage control in that buisness and be a strong negotiator. There is no special magic sauce to what he is doing. Also, Kris likes taking 50% profits from his “investing partners” he hasn’t really made much of his money really doing seller financing deals from what I gather. Lease option in my opinion is just a gimmick to get your money and get you to his events. If you spend even a bit of money to get his book shipped out to you, your likely to continue opening up your wallet again and again until Kris owns half your net worth! It’s Luda-kris! See what I did there? 😂 Just trying to help y’all out!

Kris’s lease option program is probably the biggest scam he offers. I’d bet over 99% of people who learn about it in his system fail at it and It costs $1000 or more to get started. Look up seller financing agreement and combine in with a purchase option agreement.  Do each of those agreements with the buyers and sellers and you’ve got a “lease option” That’s all Kris’s program teaches. Many states have laws against it and you run the liability and risk of pissing buyers and sellers off as the middle man. You have to do lots of damage control in that buisness and be a strong negotiator. There is no special magic sauce to what he is doing. Also, Kris likes taking 50% profits from his “investing partners” he hasn’t really made much of his money really doing seller financing deals from what I gather. Lease option in my opinion is just a gimmick to get your money and get you to his events. If you spend even a bit of money to get his book shipped out to you, your likely to continue opening up your wallet again and again until Kris owns half your net worth! It’s Luda-kris! See what I did there? 😂 Just trying to help y’all out

I can’t hold out any longer without sharing my feelings on working for Kris Krohn and his limitless money pit brand.

In the beginning I will admit that I gained a lot from watching Kris Krohn’s content on YouTube. I was about to make my second realestate deal and watching Kris’s content free on YouTube may have given me the confidence to move forward on a deal at the time. Over the next few months, end of 2017, I begged to work for Kris. He seemed like the guy to be in business with from watching all of his videos. Kris was just in the process of building out a new sales group for his Limitless brand and I wanted to be involved. Finally in mid 2018 I was offered a 1099 position on his sales team. After my day job I would make calls and close deals for Kris’s online classes and seminars held in Provo, Utah.

I began to question the value in the offerings which I was selling. What was Kris doing to make these classes worth hundreds to thousands Of dollars and access to him worth upwards of 10K -100K or more? I justified the high prices in my mind because Kris seemed to really care about people and it seemed there was so much abundance in his offering that profits would follow no matter the size of the investment made.

I learned over time that what Kris really does is sucker people into giving him as much money as he can squeeze from them. The 100% money back guarantees are a joke aswell. I don’t know of anyone personally who put the effort into getting the money back guarantee because it’s designed to be an almost impossible process. If his client finally pays enough to qualify to do a deal with him, the investor must pay all of the money for the deal, have all of the credit, and take 100% of the risk to then forfeit over to Kris Krohn 50% of their investment and gains. His Tony Robbins inspired seminars are really just a platform for people to get emotionally charged into giving him even more money. Kris has scamming down to a science. I promise that with a bit of research online you can make an investment without Kris on your own way more profitably than you can with him. You can’t give up 50% of the deal and take on 100% of the risk and consider yourself a real investor. Kris says he plans to donate all of his money to charities but I’ve seen him turn on people and rip people off to the point that I can’t believe him there either.

My opinion, go to Tony Robbins or your choice of speaker If you are looking for a high energy motivational seminar. Use bigger pockets and other free online content to educate yourself but don’t give Kris a dime of your hard earned money just because he pretends to care about you. I put an honest effort into his system and he heartlessly screwed me over too. Please take my word for it and avoid getting entangled into his network of half truths, lies, and greedy ambitions.