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Chris Koerner

๐Ÿ‘ค Speaker
2524 total appearances

Appearances Over Time

Podcast Appearances

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

Okay.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

So that park probably has no website.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

It probably has way under market rents.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

It probably has occupancy issues because it has no website.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

They're not doing anything.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

So I'm going to get the park to perform by literally posting ads on Facebook Marketplace, free ads, making a free website with a vibe coding app.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

and increasing the occupancy.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

And that $20,000 a year goes to $30,000 a year.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

And the park is worth an 8% cap rate.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

You bought it undervalued at 10%.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

So it's now a $360,000 park that you paid $200,000 for.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

So you can either sell it or you can just manage it and enjoy the profits.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

When you said seller financing, what does that mean?

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

That means the seller is holding the note.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

They are bearing the risk of you buying the park.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

But what's in it for them is, A, they can get the park back if you default.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

OK, so they're not actually giving you the park up front.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

They're letting you have it today on the basis that you'll pay them in the future with profits you make.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

Exactly.

The Diary Of A CEO with Steven Bartlett
Passive Income Expert: How To Make 10k Per Month In 90 Days!

So you're making monthly payments to them.