In this episode, Chris Koerner dives deep into how you can buy significant assets with little money, dismissing the myth that you need a hefty bank balance to kickstart your business or real estate journey. 🌟 He shares his personal journey, from being a broke college student earning $2.13 an hour as a waiter to owning multiple properties through creative financing strategies.
Chris emphasizes the power of constraints, which he believes can drive creativity and innovation. He details practical strategies like seller financing, balloon payments, graduated payments, lease-to-own setups, and other unique deal structures that can help you enter the real estate market or buy a business without large upfront costs.
He recounts the story of how he and his wife bought their first house for $90,000 using grants and minimal savings, coupled with a first-time homebuyer tax credit that provided them with $8,000 back. This early experience fueled his belief that you don’t need a lot of cash to make significant investments.
Chris urges listeners to rethink their approach to funding and focus more on structuring smarter deals rather than needing to have money upfront. He challenges conventional thinking and inspires listeners to embrace creativity in deal making.
For further resources, check out his newsletter: https://TKOPOD.com, and join his community at https://TKOwners.com.
If you’re interested in AI-enabled accounting software, he recommends LazyBooks as an alternative to Quickbooks: https://lazybooks.com/.
This discussion is part of Chris’s mission to educate and empower aspiring entrepreneurs, showcasing real-world applications and strategies that go beyond financial advice.
By Chris Koerner on The Koerner Office Podcast