Archive for February, 2010

Big Business and Technology Expo in Orem fosters ideas to fight the economy’s sinking ship

Feb 26 | by | In the news
1 Comment

BLOG Deseret News 300x56 Big Business and Technology Expo in Orem fosters ideas to fight the economys sinking ship

Published: Wednesday, Feb. 24, 2010 8:09 p.m. MST

By: Lois M. Collins

OREM — The recession is clearly bad news for some, but if you’ve got imagination, energy and the right business approach, it can spell opportunity, five successful Utah entrepreneurs agreed during a panel discussion at the two-day Big Business and Technology Expo.

“It’s not a recession for good ideas and innovation,” said Michael Alvarez of Avantar.

Recession is part of the American business cycle, said Brian Ford, entrepreneur and author. His company, 8 Pillars, has done fine, he noted. “My guess is we’re all going to do just fine. … The best years are ahead of us if we learn from our mistakes.”

That view was echoed by the other panelists, including Ryan Caldwell of Entice Labs, Kris Krohn of Real Estate Investors Club and Garrett B. Gunderson, entrepreneur and coauthor of “Killing Sacred Cows.”

While Caldwell noted the “huge benefit” his company has reaped from the recession, Krohn characterized the economic downturn as a “beautiful opportunity to clean up” businesses and practices that perhaps shouldn’t survive but sometimes do in good economic times.

They also answered questions about their very different styles of corporate communication. Gunderson, for instance, shuns e-mail, while Krohn and Caldwell embrace it. Alvarez said he has trouble setting boundaries.

“You have to use technology to your advantage,” said Ford, who breaks action into “doables” and “deliverables.” With the former, “I’m checking e-mail, (so) I think I’m busy,” while the latter actually delivers results, he said.

The expo, which ran Tuesday and Wednesday at Utah Valley University’s event center, drew hundreds of participants and dozens of exhibitors who networked, looked at products and ideas, and listened to discussions related to business success. And they capped off the event Wednesday afternoon with a rock-paper-scissors battle that had 16 combatants and a sweet prize: The winner of the single-elimination tournament got to haul away a baby grand piano.

To see the article online, click here.

Kris Krohn Speaks Out on Economy at the Big Business and Technology Expo

Feb 26 | by | Announcements
No Comments

BLOG Big Business Expo 150x102 Kris Krohn Speaks Out on Economy at the Big Business and Technology ExpoFebruary 24th 2009 Kris Krohn spoke on a panel of five local successful entrepreneurs about how to win big and be successful in this current economy.

REIC is currently “exploding” as the young founder put it because “the worse the economy is, the better it is for real estate. We have an opportunity that we haven’t experienced in real estate since the Great Depression.”

With so many banks going out of business the current market is ideal for individuals interested in successful real estate investment if you know what you are doing. BLOG Kris at Expo3 150x150 Kris Krohn Speaks Out on Economy at the Big Business and Technology Expo Krohn is founder of REIC (Real Estate Investment Companies); an organization which teaches people how to invest successfully in real estate over a 10 year period of time to maximize realistic retirement.

Krohn was recently featured in Utah Business Q’s Top 10 Coolest Entrepreneurs, December 2009.

How REIC is helping the millions of unemployed…or at least a few hundred for now.

Feb 25 | by | Announcements, Real Estate, Some food for thought
No Comments

So the economy is slowly recovering, just a little bit. The government’s economic stimulus plan is starting to do just that–stimulate the economy. But while things are starting to pick up and a little bit of light is creeping in, there’s still a ton of Americans, who are unemployed. Just because the economy is showing sparse signs of life, doesn’t mean the millions of Americans who’ve lost their jobs the past couple of years, will magically get an employment invitation from their old companies. BLOG Reic Employment Help1 240x300 How REIC is helping the millions of unemployed...or at least a few hundred for now.

This past Saturday (February 20th), The New York Times published an article titled, “The New Poor: Millions of Unemployed Face Years Without Jobs.” Peter Goodman wrote that “Even as the American economy shows tentative signs of a rebound, the human toll of the recession continues to mount, with millions of Americans remaining out of work, out of savings and nearing the end of their unemployment benefits. Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed…Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department.”

Man! Those are some heavy stats. Heavy, negative-sounding stats.

Now where does REIC comes in? Well, we’ve just launched our Business Developer program. This program is a great way for build a side business or serve as a replacement career like stay-at-home parents who want to help earn income for their families can or individuals who have recently lost their jobs. REIC has provided lots of tools (including personal websites, access to REIC resources, etc)  for each business developer. Now, this program isn’t going to solve the nation’s unemployment statistics overnight, over 100 nights or probably over 10,000 nights! However, it is a proactive step to helping improve the current economy and putting hard-working Americans back in the workforce.

If you would like to know more about our Business Developer program, please contact Rod Walgamott at rod@reicutah.com.

“Got a check for 80K for 90% discounted real estate because a thought from a book I just read…”

Feb 23 | by | Uncategorized
No Comments

BLOG Atlas Shrugged 175x300 Got a check for 80K for 90% discounted real estate because a thought from a book I just read...From Kris Krohn: A client was thinking about putting 80K into one of our REIC REO pools. In this pool we are buying real estate in 35 different states at often 90% discounts from what they were sold at two years ago. I bought this one house for under $7,800 and it sold two years ago for 150K. Homes like this had one of my clients very interested, but he was concerned because I take half the profit for getting him in. Once in a while I meet people who don’t like this idea because they want to make most of the money. This caused me to have a brief second thoughts. The same time I was interacting with this client, I was reading Atlas Shrugged by Ayn Rand and came across the concept of “ethical egoism.” I became convinced that the best insurance policy on the success of our REO pool is making sure that the deal is also good for me. Well, after reading and analyzing that concept, I re-focused and told the client (in confidence!) that we set up the business not only for the success of our clients but also for me! To benefit the client and myself, the operation succeeds and we all win! It is important for me to create win-win situations especially when we are buying hundreds of homes at a time for 10 cents on the dollar. When I am watching out for my own best personal interests, it allows me to build the success I need to help others create their own personal success.

Would you like to increase your retirement?

Feb 22 | by | Announcements, Cash Flow
No Comments

“Would you like to increase your retirement account this year by over 102K by just working the next 2 months on the side?” Those of you who attended the Tuesday night’s Business Developer meeting heard about the 65 day challenge. This challenge is for anyone!! We are giving away 102K of company stock to EVERYONE who participates. If you have any questions, for immediate assistance contact Rod Walgamott at rod@reicglobal.com and he’ll send you a link to our Business Developer webinar.

BLOG Business Developer 300x226 Would you like to increase your retirement?


“Retirement? Good luck with that.”

Feb 22 | by | Uncategorized
1 Comment

Occasionally I’ll surf the web, read up on celebrities (aka the latest Tiger updates) or watch highlights on the gold medal winners on the Olympics. However, as I was scrolling down the MSNBC.com website, my eyes drifted a little to the right to a headline link ” Retirement? Good luck with that.” So much sarcasm in that one line! A little bit curious, I clicked and started reading.

“…It’s not just investments that are the problem: Social Security needs financial resuscitation, and the bursting of the housing bubble that helped spark the financial crisis vaporized the home equity many people were counting on to fund their golden years. Corporations are curtailing traditional pensions, and older Americans are being forced to work longer to make up the difference…Ask a middle-class American when he plans to retire, and more often than not you’ll get a wry chuckle and “I’ll be working until I die.” The attempt at humor masks what may be close to reality for some people.”

And then the key question comes up. “Where does this leave our retirement plans?” Really. Where does this leave our retirement plans? A collective $2.8 TRILLION disappeared from 401K and IRA assets in 2008 alone. Those of us who were little by little putting money away into 401K’s and IRA’s have lost faith in the system and are now trying to scramble to find ways to make up for that substantial loss. If you know any of us at REIC, we don’t believe in the traditional retirement methods so popularly advertised around the country (ex: 401K’s and IRA’s) . In fact, most of us don’t have one. And if we did, we liquidated that sucker and put it in real estate, but not just any real estate. The Strait Path Program. The proven system takes the least time, effort, and risk, creates the most value for society, and generates the greatest profits than any other strategy. It’s proven to work in every market, especially down markets. BLOG Retirement Good Luck with That 200x300 Retirement? Good luck with that.

Kris Krohn to participate in The Big Business and Technology Expo at McKay Events Center in Orem, UT

Feb 19 | by | Announcements
1 Comment

BLOG Kris 10 Coolest Entrepreneurs 300x160 Kris Krohn to participate in The Big Business and Technology Expo at McKay Events Center in Orem, UTKris Krohn of REIC Global will join a panel of seven local business leaders as part of the featured keynote event at The Big Business and Technology Expo, both February 23 and 24 at noon at UVU’s McKay Events Center in Orem.

“Utah Valley is a great place to be an entrepreneur,” Krohn said. “I am excited to share that enthusiasm, and my secrets for success, to an audience of business leaders still looking for solutions.”

Krohn founded Real Estate Investment Companies (REIC) in 2007. Since then REIC has helped more than 300 investors invest  $30+ million in bargain real estate, both in Utah and nationally, with his proprietary “Strait Path” investment system. He was a successful entrepreneur in his early 20s, and was recently named one of the “Ten Coolest Entrepreneurs” by a local publication. His book, The Strait Path To Real Estate Wealth, will be released later this year.

Other panelists include Michael Alvarez of Avantar, Brian Ford of 8 Pillars, Rich Christiansen of Bootstrap, Mabel Alarcon of Savvy Apparel, Ryan Caldwell of Entice Labs and Oliver Bigler of eHarbor. The lunchtime event will begin at noon each day. Lunch and the keynote are free with Expo admission.

“We feel like behind every great business community there is a backbone of great entrepreneurial mentors,” said Kendall Bennett, organizer of the Expo. “This event will provide more of that.  It’s great to hear how successful people think and I think it will be invaluable to the people who enjoy it. These are great folks.”

  • What: The Big Business and Technology Expo
  • When: Both February 23 and 24 at noon
  • Where: UVU’s McKay Events Center in Orem
  • Cost: $5
  • On the Web: http://www.uvexpo.com/biztechshow/

How REIC is affecting the economy

Feb 16 | by | REIC Testimonials, Some food for thought
No Comments

A few weeks ago, Randy Davis, one of our employees, sent an email to Kris Krohn about his feelings about REIC and how he felt REIC was positively affecting the economy. He wrote:

I spoke to Kris Krohn the other day about how I felt REIC was affecting our economy. I feel that the work REIC is doing is directly affecting the local economy. Each time we bring a new member into REIC and they pay their membership, the work begins! They are taught simple yet effective strategies to help them change what they are currently doing to improve their financial outlook. Then, once they begin investing, additional monies are put to work in this economy to help members improve their net worth. Hundred of thousands of dollars are infused into the economy by refinancing and/or purchasing new mortgages. Banks are helped, loan officers, real estate agents, coaches, title companies, and property managers are employed to fulfill the needs of the investors/members. New jobs are created and dollars are put into the system allowing for car loans, house payments, groceries, medical bills, etc. to all be paid because REIC is stimulating this change.

Six new companies have been formed since the beginning, less than three years ago. Employees of these companies work hard for the investing members rendering important viable services to each REIC member. In addition, hundreds of families are provided housing at fair market prices and the results are that through an education process these home owners are taught how to repair their credit and budget their money so they can be more productive citizens in their communities. They become more self reliant and they are given opportunities to become investors themselves. In addition, members are encouraged to improve their lives through personal improvement programs and concepts. This also brings additional dollars into the economy, while improving the lives and the net worth of the members. Once an individual becomes an REIC investor, the opportunities are immediately available for improving their lives in these areas.

I mentioned that REIC investors are actively increasing their own individual net worths by hundreds of thousands of dollars. Within much shorter time frames than government or other typical investment means these investors can be totally self-sufficient, independent of government retirements, etc for their future well being. REIC has helped hundreds of investors get back on track to accomplish these things while simultaneously bolstering the economy.

Now that REIC has moved to a national focus, it can provide these opportunities to other people around the country and improve the local economies there. I have also witnessed REIC collecting hundreds of cans/pounds of food from employees, investors and seminar attendees to help the local food bank feed families. I am proud to be an employee and a member of an organization like this.

If you fail to plan, you plan to fail.

Feb 11 | by | Uncategorized
1 Comment

Remember our earlier post about planning? Well, you know the old saying – if you fail to plan, you plan to fail.  Many real estate investors make their first mistake when they jump into the market without long term goals or plans.

The purpose of the first step to real estate investing – planning – is three-fold:

1) Identify your existing resources.
2) Outline a 10-year million-dollar game plan for leveraging those resources.
3) Stay disciplined.

Identify Existing Resources

Millionaires are typically keenly aware of their finances, but most middle- to upper-class individuals are unaware of the assets and resources they can leverage to produce greater wealth in real estate.  These assets lay dormant and unutilized, resulting in a failure to act and lost opportunity costs. For some individuals, they may have enough assets to create a stable retirement in just a few years.

Use a net worth worksheet to analyze your assets and liabilities, and then seek professional help to use what you already have, or work to improve your net worth.

10-Year Portfolio Game Plan

Once your assets are clearly identified, the next step is to create a 10-year million-dollar game plan that maximizes the assets through real estate investing. The goal is to shift unproductive resources into areas of higher productivity. A typical, achievable plan results in an investor purchasing about twenty properties and making over $2 million within ten years.

However, since everyone’s situation, abilities, and desires are different, each plan should be customized.  The important thing to note is the timeframe – 10 years.  Many investors think they can time the market just right, buy and sell for a few years and make a million.  The fact is true real estate investment requires commitment, planning, and long-term focus.

Long-Term Discipline

Any real estate investment system (ours is called Strait Path Investing) is significantly hindered when investors are unable to stay disciplined over the course of 10 years or more. When applied in its most pure form, real estate investing builds on itself to provide exponential growth. When all profits are consumed, especially in the initial stages, only linear and sporadic growth is possible.

Whatever real estate investment strategy you adopt, plan to stick with it for the long-haul.  There is no way to get rich quick in just one year (unless you win the lottery).  Also, you must reinvest your profits rather than spend them, especially in the beginning of the process.

FeedburnerFacebookYouTubeitunes