How To Become A Millionaire In Two Years Buying One House Per Month - Real Estate Investing

http://www.JoeCrump.com/youtube Read Joe Crumps Blog: http://JoeCrumpBlog.com/ Read the Transcription: Joe: Hey, it's Joe Crump. I've got another video here for you. This one is from Karen Smith in Columbus, Indiana. Karen: "Joe, can you explain the millionaire matrix? Does it really work and can you do it without down payments or using your credit?" Joe: Absolutely, it works. The Millionaire Matrix is a structure that I teach that shows people how they can actually make a million dollars in equity and in cash within 2 years by buying just one property per month using no credit and no down payment. And instead of just me explaining it in this video with a talking head, I'm going to pull up a little power point here and show you exactly how this process works. Joe: I created this little power point to show you what the Millionaire Matrix is and how and why it works. Joe: Before you can understand how it works, you need to understand the principles behind it and why it works. That brings us to the idea of businesses in general. 90% of all of the businesses that start up fail in the first year, whereas 90% of all new franchises succeed. Why is that? Why would franchises succeed and businesses in general, not succeed? And the big answer is -- systems. Franchises have step by step systems to show the business owner (the person who's implementing the tactics in the strategy of the business) how to do each little system in the business. Joe: Let's take the ultimate systematization -- McDonald's. If you go to a McDonald's, everything is done the same at every McDonald's that you go to because each of their processes is spelled out in a specific system. They have a system for making a Big Mac. They have a button to press when it's time to flip the burger. They know how many burgers to put on there, they know what order to have with a picture of a hamburger, and how to put it together where it shows you that that's where the bun goes and that's where the hamburger goes and that's where the lettuce goes and that's where the special sauce goes. And it makes it very easy for people that are not very skilled to put together a hamburger consistently all over the world. Whether it's here in Indianapolis or whether it's in Wisconsin or California or Berlin or Paris or Ireland -- it doesn't matter -- wherever you go to a McDonald's, you're going to get the same burger -- it's going to be put together the same way by the same skill level of people. Now, McDonald's has a 200% employee turnover every year. That means that they're constantly trying to train new people. For them to get that consistency, they have to have a system in place to make that business work. Joe: And that's what I've created in the Push Button Method and the mentor program. I've created systems so that I can take new people (people that have never been real estate investors before) and give them a system and say, 'Step 1, do this. Step 2, do this. Step 3, do this.' Joe: That takes us to the next question in the process here, which is what types of deals make you money. You need to understand that as well. In real estate, there's only two types of deal that'll make you money. One is properties that you buy substantially under market value, either for cash or as an assignable cash offer. And two is properties that you can buy at market value or below but you can buy them on terms. Now, by terms we're talking about zero down structures that I teach; subject-to, multi-mortgage, land contract, contract for deed, lease option, assignable cash deals. Those are terms and if you can buy properties on terms like that, then you can make money even if you buy them very close to market value. Joe: That's going to take us to the next step which is the beginners Millionaire Matrix. Now here's what we want to do with the Millionaire Matrix and the goal of each system. We want to be able to make $5,000 per deal. We want to be able to do one deal per month. We want to be able to work 10 hours per month. That means 2.5 hours per week. We want to be able to have $200 residual income per deal. That residual income I'm talking means every month you're going to get $200. We want to buy 10% under market value; it doesn't have to be dramatically under market value because you're buying on terms, and I'm going to show you why that makes the difference.... To read the rest of the transcript, click here: http://joecrumpblog.com/the-millionaire-matrix-how-to-become-a-millionaire-in-two-years-buying-one-house-per-month/ ?utm_source=Youtube&utm_medium=EndLink&utm_campaign=Youtube130808

Comments

1. it is all based on the theory of numbers.
2. i'm a beginner and I wanted to know what Equity pay off and cash in closing is if you can help me equity billed up , tax benefit ,tax based $100 i will like to learn about it if you can answer my questions thank you
3. I have four rent houses and just paid County taxes, school taxes, HOA fees, & ins for the year which ate up 1/3 of my income. These are expense I incur for just breathing. Most people who can't afford their mortgage anymore certainly don't have disposable income to keep things fixed and updated so add that cost in, as well. And selling your properties have additional costs just as RE commission for buyer and closing costs - figure in 5.5%. I can make deals "look" good all day long by leaving out hard costs. Bunch of crap here....don't waste your time watching it. 
4. Joe...    How do you avoid the due on sale clauses that are in most conventional home mortgages to day?  Mortgage companies tend to be risk adverse and will want the chance to underwrite the new owner.   Are you only working with folks with fully assumable mortgages (not as common as they used to be) such as VA loans?
5. So many things wrong with this!
6. What if someone isn't interested in the properties you have? That means you'll be stuck paying the monthly notes
7. See that's is wrong with people getting the big head just think about it Joe trying to show us other ways to flip our property to make more money like the franchise maybe the only way I am young jumping into the estate business I bet any kind money this is on a higher level
8. Thanks Joe for the great video and the system.  I have been a Realtor, an Investor and a Mortgage Loan Officer for more than 10 years. This system can work if someone is in the right City and has the right attitude.  I having been investing all over the place without a system.  I am going to restructure and try your system.  Thank you.  And for those who are new in this field, I suggest you stay focused and don't listen to the hatters.
9. From where should get 90.000 usd initially to pay the first house? ....it must to come from my savings and credit.... Otherwise from where!???? The system works if you have cash 90.000 CASH... Therefore the system only would work...IF, the real state market keeps stable and doesnt break down...
   
10. i would love to try this ,i lose everythang and i can no longer do the work that i have been doing ,please email me more imformation
11. i would love to try this ,i lose everythang and i can no longer do the work that i have been doing ,please email me more imformation
12. dddd
13. Thanks for your information I think is great but also I think that has a lot of room empty.
    They are so many thinks that are not taken in consideration but your example can be taken as a very basic example, I would suggest people getting in this field to research more about loan types, and regulations in the area that they will be interested in investing money. 10 hours a month I ll tell you that that is not really a realistic scenery, also closing costs, and not mentioning actual taxes
14. Great video Joe! Solid information. 
15. I really need to try this-I'm 72, still working 40 hrs a week, driving 1 1/2 hrs to and from work.  What if your credit Is less than perfect?
16. I don't think mortgages exist that you can simply take over. You need to purchase. At least not in ny. This is bs
17. Question, in year 2 of this example, were we looking at the same properties from year 1? If so, why is there a 5000 closing cost per month? I'm a bit confused, maybe I need to watch the video again when my kids aren't running around.
18. As a mortgage loan officer I think in the right area this can work well, my biggest question is how do you deal with the due on sale clause that many mortgages have.  If the seller deeds it to you that could trigger the due on sale clause causing the note to become due to the seller.  So would you only target those sellers that have no mortgage on the place?  I am not trying to poke holes, just trying to figure out how you deal with this? 
    Thanks!
19. John, wether you think you can or think you can, you are right on both accounts.
20. Great video ,
    If anyone else is   trying to find
    how to get a business line of credit with bad personal credit try Awsomic Fund Finder (do a google search)?
    Ive heard some great things about it and my colleague got excellent success  with it.