Like many of you, when I first discovered Kris Krohn I was skeptical. Mainly because he’s a good speaker and good speakers on YouTube can be frightening at times. They have the ability to deceive us and steer us in the wrong direction with their charisma and flattery lips, Kris not only has a gifted tongue but is likeable and not hard on the eyes either. But then I started to wonder “perhaps I’m being a little harsh on good speakers? I mean it’s not Khri’s fault that he’s well-spoken or that he’s built like a WWE wrestler. Perhaps he is a sincere guy that just wants to help us become rich and successful, Maybe he does know what he’s talking about. What if he really does hold the key to financial freedom? One thing I didn’t want to do was pre-judge Kris before diving into my review. But I’ll admit it was hard for me not to. You see whenever I see a YouTuber using a green screen and having multiple camera angles in their videos it’s a red flag to me. Because It signals to me that their main focus is on presentation, rather than content.
In Chris’s defence, he probably has made money in real estate and for the sake of this review, I’m going to assume that he’s telling the truth. Unlike other YouTubers, Kris is selling something that is proven. Yes, real estate is a good thing to get into or at the very least become educated about. Kris is a gifted teacher and does a great job of explaining basic terms and definitions in the real estate world to his younger audience. I’m all for Kris explaining to teenagers what a mortgage is or what home equity is but when he starts talking about numbers and his overall strategy that’s when he starts to lose me. Kris, in my opinion, tends to exaggerate his numbers. For example, If you’re renting out a property you need to expect the unexpected meaning you should always keep an emergency fund for repairs or bad tenants. Say you clear 300$ a month on one of your rental properties that doesn’t mean that you should just pocket that 300$ What you should do is set that money aside so that you have enough money to fix future problems that are bound to pop up like needing a new hot water tank or buying a new front door. If you save 300$ a month you will have put aside 3600$ over the coarse of a year, that money should cover you for unexpected problems as well as upgrades to your house. But under no circumstances should you take that 3600$ and use it for a down payment on another house, this is called growing too fast and it’s the type of happy go lucky approach that Kris seems to subscribe too.
Choosing the right tenant for your home is important too, which is something that I haven’t heard Kris discuss much in his videos. Perhaps he’s able to scare away a lot of bad tenants with his intimidating physic, but I think it’s fair to say that most people don’t resemble Kris and may have a problem finding a good tenant.
In one of his recent videos, Kris tells us that buying a second house will help you pay off the mortgage on your first house quicker. His theory is that if you have equity in your home you can refinance your mortgage and take that money and buy a second home. The problem with this is that most people don’t have enough equity in their home to buy a second property and even if they do I don’t see how going down this route speeds up the process at all. Say you bought your house with 5% down for 110,000$ and then magically your home went up in value to 150,000. Kris’s advice is to get your home reappraised so that you can take that 40,000$ cash to buy your second home; this is doable, however, he fails to mention that now your mortgage is 150,000$ as apposed to 110,000$ You’re now further away from paying off the mortgage on your first house. Chances are the second home that you buy will be in the same area which means there’s no way that the local housing market will continue to climb at that rate. I’m all for you buying a second home with your equity but don’t expect to get rich fast by doing it.
However, the number one thing that confused me the most about Kris Krohn was his book I mean if Kris Krohn is a scammer then why is his book free? What does he gain from that? Think of it this way, why do companies give out free samples at grocery stores? Do they do it just to be kind? Or is there something else behind it? The answer is they do it to peak your interest in their product, hoping that you’ll become a paying customer down the road. I believe that this is exactly what Kris is trying to achieve by giving away his free book. He’s doing something that appears nice on the surface, but he’s just getting you interested in his brand. To buy his book you have to give out your email address and as you can probably imagine that means you’ll probably be flooded with several emails a month from Kris and when he says just cover the shipping it costs a lot like 19 dollars for international shipping a lot.
Overall Kris is a nice guy, a great life coach, but he needs to be more realistic and detailed with his advice if he’s to be taken seriously.