Our guest today, Kris Haskins, a successful entrepreneur, depicts how he managed to escape the rat race to become a skilled real estate investor and advises you how to build up your business. Stay with us and learn where you can find off-market deals, why time isn’t money, and why he decided to start teaching.
- How Kris Haskins went from music business to real estate
- How his business looks like today
- Where he finds his off-market deals
- Kris’ biggest win in the last 12 months
- What he appreciates most about his job
- Why time isn’t money
- Why he loves teaching
- The 3 guiding principles for his success
- How you can get in touch with Kris
- How Matt started the podcast
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Speaker 1: This is Theriault Media.
Kris Haskins: It’s changing man, as I drive down the street and I see this. People driving cars. I got to the urinals and I see people taking a pee, doing this Matt. My perspective and outlook is changing brother. I used to be the direct mail guy. I love direct mail, man. My postcards, I’m cranking them out. Letters and stuff. But now, man I’m seeing if you ain’t living in that phone man I think you might have to be questioned as far as your business is running.
Matt Theriault: So, welcome to The Epic Real Estate Investing Show. It is Thought Leader Thursday. Okay, so today I’m joined by the host of The Real Estate Round-Up. He used to flip music tracks, and now he flips houses. As well, he works with notes, pre-foreclosures, hard money lease options, rentals, and property management, all the while hosting a very popular YouTube channel loaded with his entertaining stories and valuable lessons from the trenches. So, please help me welcome to the show, Mr. Kris Haskins. Kris welcome to Epic Real Estate Investing.
Kris: What’s up Matt? What up bro?
Matt: Good to have you here man. I was really … I was clicking around on YouTube, and I came across your channel, and I started watching some of your shows or your episodes. It was really funny and entertaining. But I started to read about you a little bit more, and I was like wow we have a very common path of how we got to real estate. I was in the music business for 15 years as a producer, and it looked like you have something similar going on. What happened to music and how’d you get into real estate?
Kris: Wow, that’s cool man. First, thank you, brother, for providing this information out to the public, man. It really means a lot, bro.
Matt: Sure, sure. Yeah, glad you’re here.
Kris: So, yeah the music business brother. I don’t know your story. I’d like to hear more about it, but I was a music producer, brother. I mean doing it. Traveling the world. Recording with artists and then we had a couple big hits with 50 Cent. And then rolling with Teddy Rowley and doing that crap. Staying up all night. Matt, I was working from 10:00 in the morning til 2:00 in the morning. Working-
Matt: And then you go to the clubs to promote, right?
Kris: I’m like I’m feeling old. So, and then I got my publishing deal with DMI, and that was a big deal.
Matt: How did we not cross paths? I had a distribution deal with DMI.
Matt: Yeah, I had a full label deal on Caroline, but we leveraged that.
Kris: Holy cow.
Matt: [crosstalk 00:02:28] yeah.
Kris: You weren’t doing urban music though?
Matt: Yeah, it was hip-hop. Ill Boogie Records.
Kris: We probably did cross paths, man, just didn’t link up.
Matt: Right. Yeah.
Kris: As you know, I got my publishing deal doing it, and two months later we had 200 thousand, man. And then a few months later I had $80 in the bank.
Matt: It goes like that music, I’m telling you. I think I had $5 in my account the day before the wire landed on my distribution deal.
Kris: Oh, wow.
Matt: Yeah, I remember those days. But anyway, what happened? How come no longer music and how’d you get into real estate?
Kris: Yeah, man so I was doing this … a lot of our youth, especially youth from the minority aspect, are taught to do … to ball out of control. I thought that was how you do it. If you get some money, you show it out to the world and that is exactly the opposite thing that we should be doing. So, I was traveling around Miami, LA, New York, Atlanta. Blowing money left and right. As you know, technology comes up. We got to get Pro 2s and a new G5, and the new studio. You got to have the newest right?
Kris: $2 or $3 thousand a week I’m spending. Money’s going, depleting. I’m like man this business is not designed to help me at all. It’s designed to take from me.
Matt: Mm-hmm (affirmative). Got it.
Kris: Took a little bit of money I had left from that publishing. Some of the publishing still came in at that time. I took that money, man, and I’m like you know what I’m done. Destructive lifestyle. The drinking, drugging, sexing. Everybody’s doing everybody. Matt, just the lifestyle wasn’t for me.
Matt: Right. Right. And so you’ve been in real estate. When was that transition made? How long ago?
Kris: ’03, ’04 bro.
Matt: ’03. ’04.
Kris: I remember having my studio at the end. At the end when I was getting out 2002, I was just letting people come to my house and use my studio. I was having parties. People would just come use my studio. I was just a guy in the house drinking and they’re bringing over whatever. Women. The partying. And I can’t do it anymore. I can’t do it anymore.
Matt: All right. So why was it real estate? What led you there?
Kris: Well, I got a little bit educated. I read the book Rich Dad, Poor Dad in 2003, which I don’t want to give too many props. The book is good but-
Matt: I feel you. I know. I’m tired of mentioning his name for the last decade. Yeah.
Kris: Anyway, the book was good, and I’m like you know what. I never thought about the cash flow quadrant where … can I do that or no?
Matt: Yeah. Let’s do it. Yeah.
Kris: And even the book didn’t break it down for me to where I understood it really. B I … I didn’t understand. Huh?
Matt: No, go ahead.
Kris: I didn’t understand this. The cash flow quadrant is cool, but the cash flow. The cash flow. What I didn’t understand is you could be in the equation, but this arrow here is the key. It’s the arrow. I’m like the cash is flowing from these people making the money and going to … well, me now. This is where I live now. So, it’s all … no matter what you make here it doesn’t matter. It always ends up over there.
Matt: Yeah. Totally. Totally. Yeah, that was pretty much my inspiration as well. But my one critique about the book is it kind of leaves you hanging in the how to part, right?
Kris: No content.
Matt: Yeah, it gives you the idea and the concept, and you get all fascinated with it and then you’re like okay, now what’s next right?
Kris: [inaudible 00:06:01] yeah. Yeah.
Matt: So, how did you do that? Was it a course? Was it a mentor? You just went out and started learning trial and error?
Kris: Dude, I got so blessed to meet two men brother. Two rich, white dudes, man. Lonnie Scruggs was the first one. God rest his soul. They’re both moved on to the afterlife, Matt. Lonnie Scruggs and Mike Cheatwood. They were running the local REA back in the 2003. And this was before the REAs were cool. REAs are cool now. Back then when you showed up being who I am, how I look, it was like what are you doing here? It was all clicked up. I’m showing up. I’m walking in there. Hey. I didn’t know anybody. It was a whole other side of the world. The real estate business operates from 9:00 to 5:00. The music industry operates from noon til 2:00 in the morning.
Kris: Yeah, whatever.
Matt: Yeah, I got you. So, yeah, it’s a totally different world. So, here you are. Now, kind of tell me what you’ve … that was back when? 2003 or 4 I think you said. So here we are, what 15, 16 years later?
Kris: Yeah, dog.
Matt: What does business look like for you today?
Kris: My business … I don’t want to make it seem like I’m a high transaction guy. I do transactions, but I don’t live in the world where everybody’s looking for five, six deals a month. This not my world. I do maybe five to seven transactions a year. I’m putting out … I’m using private money. But I have a rental portfolio, Matt. And it’s not pretty rentals. It’s just ugly stuff and I do lease options. And my lease options are the ones that keep me cranking on and I might sell a house two times a year. I get a big down payment out of people and we do it again. But my lease options is my train. You don’t really see that on the internet. It’s not pretty.
Matt: Right. Right. Well, buy and hold isn’t pretty, right? That’s why they don’t have any TV shows called Hold That House. Right? That’d be very boring television.
Kris: Matt, true wealth is boring as … wealth is boring.
Matt: Yeah. Yeah. I think that’s a what’s his name’s quote.
Kris: Building man next door.
Kris: There you go. It’s boring. Nobody wants to hear. When I tell people, they’re like man, I want to do flip, I want to do that. I’m like dude if you only knew. This is not where the money is, brother. It’s in the holes.
Matt: Yup. Absolutely. Absolutely. So, what’s your best source for off-market deals today?
Kris: Off market deals? Matt, it’s changing. As I drive down the street and I see this. People driving cars. I go to the urinals and I see people taking a pee doing this, Matt. My perspective and outlook is changing, brother. I used to be the direct mail guy. I love direct mail, man. My postcards, I’m cranking them out. Letters and stuff. But now man, I’m seeing if you ain’t living in that phone man I think you might have to be questioned as far as your business is running.
Matt: Mm-hmm (affirmative). Do you use any particular apps or anything like that that helps you out with that?
Kris: Not really. I just got introduced to an app today a few minutes ago. Deal-
Matt: Deal Machine.
Kris: Deal … is that you?
Matt: No, but I just did a deal with a guy, so we got a little relationship now, so. I think it’s a fantastic app.
Kris: This is crazy.
Matt: Yeah, talk about living in your phone. I mean that’s just-
Kris: Back in the phone.
Matt: The way he’s been able to leverage the technology and make it all personal and just … it’s good.
Kris: This is crazy, Matt. When I started, there was no internet around. You couldn’t even pull comps online, so.
Matt: People don’t even remember life pre-internet, right? I actually … you actually had to knock on a door. You had to talk to somebody, right? Let’s see. What’s your biggest win in the last 12 months and what’d you learn from it?
Kris: My biggest win. Meeting new people man. I’m at the stage in my life where I like to just plug into other people and just be the machine behind them or be the money guy. I’ve done enough houses. I don’t care. I don’t know about you, but I could care less if I see another house. They all look the same.
Matt: Mm-hmm (affirmative). I always feel like anyone who says they love real estate, I’m like your lying. You’re lying.
Kris: Or you ain’t done enough houses.
Matt: Yup. Yup. It’s what the real estate gives us. Not the real estate itself.
Kris: There you go.
Matt: Let’s see what else I got for you. What do you like most about what you do? Maybe you just answered it. I don’t know.
Kris: Well, it’s the time, Matt. I get to wake up. Take my kids to school. Go to lunch. Eat lunch with them. I’m really a dog sitter, man. All I do is watch the dogs all day. I got, I mean, I’m … I get to be here. My wife, she takes off work whenever she wants and we go to the movies. I’m just so blessed. But it’s really, real estate has given me the availability of time, brother.
Matt: Mm-hmm (affirmative). I agree.
Kris: [crosstalk 00:11:01] is irrelevant. It’s just a byproduct of the value that I think we both provide to our communities.
Matt: Right. What do you wish you could talk more about?
Kris: What I wish I could talk more about?
Matt: Yeah, what do you not get the opportunity to talk about that you wish you could talk more about?
Kris: No one cares about the journey of life, Matt.
Matt: Tell me.
Kris: The journey. Everybody’s so caught up in … I coach people all around the country. I mean, I’ve coached a guy the other day in San Francisco. He’s like I don’t have the time. I need to have this shit done by the end of the year. Wow, that’s deep. Life is a journey, Matt. People like … even fall. Even area in my life. I didn’t notice the trees turning colors in my town. I’m like man take the time to look around you and enjoy the beauty of your life. And Lonnie Scruggs used to tell me that. I never got it til as I’m getting older, Matt.
Matt: Mm-hmm (affirmative). Yeah.
Kris: No one wants to hear about that.
Matt: Right. I’m in the market for … my mother-in-law’s car just broke down. So we’re kind of giving her daughter’s car. My wife is taking my car. And I have to go get another car, and everyone’s like what are you going to get, what are you going to get? And I’m just like those things aren’t nearly as important to me anymore.
Kris: It’s irrelevant, right.
Matt: Those Hyundai’s are pretty sharp cars right now. They’re solid. They got all the technology in there. They get you from A to B. They got the good gas mileage. And I’m like that’s kind of what I’m leaning towards, but everyone’s encouraging me, especially the wife, no, no, you’re a baller, you need to this, you need to do that. And I’m like no.
Kris: The wife will get you.
Matt: Yes. But-
Kris: Dude, my wife take my car, and all I had to do was go sign them paper, Matt. I didn’t even pick it out. I know how it is.
Matt: Yup. Yup. Yeah, guys don’t drive nice cars ’cause they like them. They drive them because of the girls like them, right.
Kris: Other people. Other people.
Matt: Yeah, the other people.
Kris: [crosstalk 00:12:52]
Matt: All right so let’s see. What’s that?
Kris: Guys like you, I mean you’re so secure in what you are, no doubt, then I mean you worried about I’m sure … I know guys man that been driving cars for the same 20 years man. They carry a check in their pocket when they go to the foreclosure sales for 2 or 300 thousand. I like these are guys.
Matt: Right. Right. Yeah, and sure. I mean after … you can relate after going through the music business, when your income goes like this, sometimes you just want to be nice and flat so you can sleep at night and you ain’t … the car doesn’t help you sleep at night.
Let’s see, what commonly held truth do you disagree with?
Kris: Commonly held truth do I disagree with? I don’t want to say you got to work hard, ’cause you need to work hard. Time is money, man. I used to believe that, but I’m done with that. Time isn’t money.
Matt: Mm-hmm (affirmative). Explain. Can you explain that, elaborate?
Kris: Oh, yeah. Before I would say I would put a value on my time. Now I have seen it Matt where you can make money online, I mean, literally in a second. I’ve seen men make more money in an hour than some men will make in a month. So, it’s like do I think the time is money? Nah, I think it’s more what you do with your time that’s more important.
Matt: Right. Implementation is money.
Kris: I like that, Matt.
Kris: Very good.
Matt: All right, that’s yours and mine. No one else can have it.
Kris: I want to take it.
Matt: What do you see happening in the market that excites you and how is it changing the way you do business?
Kris: We are talking about real estate or business in general?
Matt: Yeah, real estate.
Kris: As I matriculate, thank you Hampton University. As I matriculate, Matt, I mean real estate is one thing. I just think it’s overrated. I mean it’s a way to … place to hold your wealth from monthly income. I mean, I just think the internet is so much more exciting, and maybe it’s just me because I’m new to the internet type thing. Is that maybe how it is, Matt? I don’t know.
Matt: Maybe. What are you doing on the internet?
Kris: Man, this internet man. Fucking bomb dude. You go to bed wake up, 1000 bucks. I mean it’s like-
Matt: Yeah. Yeah. How long have you been embracing that side of it?
Kris: Strong? Three months man.
Matt: Okay. All right. That explains everything. I was going to kind of guess that actually. I knew it was less than a year. I did everything through real estate and did very well. Escaped … this is my story. I escaped the rat race in less than four years and accomplished what most of the population can’t do in 40 years. So that’s been kind of my mantra for a long time and when you start doing well, and you know this as well, that people start picking your brain. They want to take you to lunch. They want to buy you coffee and tell me how you did it and show me the way.
Kris: Every day.
Matt: Right? It happens. So, it was probably 2010ish, 11ish. I was like well maybe there’s something to this teaching thing right? And boy, it’s a whole other business all by itself, right? So, I get it. But it just turns into another business and now we’re steering back towards more real estate but-
Kris: You got to put your some money somewhere, Matt. You can’t spend. You can’t go out there spending it.
Matt: Right. Right. But they can coexist nicely, and they actually work well. I mean, if you want to choose a mentor, you want to get a mentor that’s actually doing what they’re teaching and not they did it 30 years ago, right?
Kris: That’s right, brother. That is so cool.
Matt: Kris. What’s that?
Kris: I said you got some cool stories brother.
Matt: Well, I was, yeah, I was looking forward to this conversation. I kind of felt this might happen. What’s something that few people know about you that you wish more people did?
Kris: Everybody knows everything on the damn internet. They know all that stuff. Let me jump back. Can I jump back and then bring that back? One of the philosophies that I got to fight, those who can’t do teach. Those who can’t do teach. That was a philosophy I lived by for a lot of years, years ago. I want to … and that’s the one that I don’t agree with. You asked me that earlier. No.
Matt: Yeah. That thought is incomplete because there is some truth to it, but those that love what they do can’t help but teach.
Kris: Can’t help but wow. That’s deep, Matt.
Kris: [crosstalk 00:17:16]
Matt: I’ve struggled with that same concept before. Well, if it teaches, then people are going to think that I can’t do. And I was like no, but I love doing what I do, and I just can’t keep it to myself, right?
Kris: Wow. I like that. So you heard that saying to. I remember a guy hit me with it. I’m like I’m not going to teach this. I’m going to do it. Those that know will do. Those that can’t do will teach. Something like that man.
Matt: Yeah, those that can, do. Those that can’t, teach. Right?
Kris: That’s it. Those that can will do. There you go.
Matt: Those that can’t will teach.
Kris: I hate, man. I struggle with that for so many years, man.
Matt: Yeah. I mean once you accomplish a certain amount and you enjoy the process, you can’t help but share it.
Kris: Which you are going to teach anyway, Matt, because people look at … they’re freaking calling you all day every day all day anyway. I’m like dude, I might as well just charge you a dollar and then it’s over.
Matt: That’s right. Well, if would’ve known that too back in the day, ’cause I tried to learn everything the hard way. I didn’t want to pay for anything. And boy, what an acceleration of success that is when you just … I just read something. The name might come to me for it then. But somebody very famous and he said one of his biggest regrets in life is … it was Grant Cardone. He was saying that one of the things if he had to go back all over … he says he has very few regrets in his life professionally, but if he were to go back all over again, he would’ve paid more for access earlier to really accelerate his process. And I was like wow that’s something I’m really holding true to myself right now.
Kris: That’s right. Access. You’re right.
Matt: It’s nice when you see other famous or successful people, very accomplished people voice the thoughts that go through your head. So, that’s good. Well, Kris a pleasure. If there were three guiding principles for your success what would they be?
Kris: The first one, brother, is relationships man. I just can’t tell you. I can pick the phone up, man, and if I get in a bind, I know somebody that will loan me some money or I need a ride to somewhere. Whatever man. If I need a deal. But that has come, Matt, over time, brother. These people have met … and other day I was talking to one. He was like Kris, when I met you I did some research on you. I found out you was all right. So, it’s people that’s checking you out man.
Matt: That’s why you’re here. Yeah. All right. Number one, nurture your relationships.
Matt: What’s number two?
Kris: I was thinking about that too. Probably money dog.
Matt: Probably money.
Kris: I survived the crash. You been through the crash too right? 2007.
Kris: Yeah, dude, without that I wouldn’t be here, man. The people that believed in me, let me use their capital for interest, for the rate of return. I was able to … I didn’t even feel it really. I mean, we kept flipping houses, and we held them a little longer, but private money. If you ain’t using private money in the real state, spanky, spanky.
Matt: Okay. Kind of, somewhat connected to your relationships though right?
Kris: Yeah, I access my network.
Matt: Yup. Absolutely.
Kris: Access be right.
Matt: Okay. So, nurture the relationships. Leverage private money. What would be number three?
Kris: Number three’s your philosophy man. Like that philosophy, those who can do and can’t teach. Your philosophy will raise you. Jim Rohn said it man, will raise you or crush you.
Matt: Got it.
Kris: It’s your philosophy dude. What philosophy do you live by? Do you live in the philosophy of leaving everything and person and place that you go to better than when you arrived? That’s the philosophy that I live by. Whatever I got to, I’m going to leave this whole … even the world better that I’m here. When I pass on, I want to make sure I left it better than when I arrived.
Matt: Mm-hmm (affirmative). I like it. I like it. There’s a guy, Ray Dalio, he’s got the book Principles. Very much along those lines, right?
Kris: I got that one. Yeah.
Matt: Good. That’s good. Hey, so someone wanted to get in touch with you, what would be the best way for them to do that?
Matt: All right. Will do that. Well, this has been a pleasure. Let’s do it again. Let’s stay in touch.
Kris: Yeah, man. All right. Do I get to ask you anything? Or I got to just be the giver?
Matt: Well, you can ask me whatever you want to ask me.
Kris: So, what does your day off-
Matt: [crosstalk 00:21:36] on you. What’s that?
Kris: What you say?
Matt: I said the spotlight was on you today, but ask me whatever.
Kris: I mean I’m fascinated by people that not only that reach out to me online, right. I’m like I know … I sense that you’re an internet guy, that you understand how the internet works. How do your days go? Go ahead.
Matt: I have become recently.
Kris: When does that voice from real estate go over?
Matt: It was a transition about 2010. I wrote a book about my life, about the first half of my life in the music business and I crashed and burned. I was bagging groceries for six months and then raised myself back up through real estate. So, I wrote a book called Do Over. And I started a podcast just to help me sell my book. And all the questions that came in were all about real estate because there was a lot of my personal stories. It was either about music or the real estate.
So, I started a second podcast around just real estate, ’cause I didn’t want to abandon my dream of becoming the New York Time best-selling author, so I wanted to keep that separate, the book over there, right. But the real estate podcast just took off all by itself, and it turned into a business without me even really … without it ever being my intent. And so, then we just started showing. I got wind of what a membership website was, and you could put lessons behind there, and then people would pay to get access to get in there. And-
Matt: [crosstalk 00:23:01]. And but I would say it did not become equal to my real estate until … it took me about seven years to get the education part to be a bonafide income stream that was equal to the real estate. And so, they’re about neck and neck right now. But, boy it’s a lot of work. If you’re going to do both, your attention is widely dispersed. But it’s good. I love what I do. So, it doesn’t feel like work.
Kris: So, you got a scheduler all day? You got like Matt, you got to be here. I mean I’m getting 30 minutes I guess, and then you got a 4:30 or 1:30?
Matt: Yeah, well I don’t know. This is going to air at the beginning of the year, so we’re right here approaching the Christmas. So, I’m kind of on a weird schedule here, too. But yeah, typically Thursdays I do all my phone calls. Mondays I meet with my staff and make sure they’re all straight for the week. Tuesdays are my 100% real estate day. Wednesday is kind of a flex day. And then Friday will be half speed day and spend the time with my son.
Kris: Good for you man. Good for you.
Matt: Yeah, that’s kind of what it looks like most of the time.
Kris: That is sharp. Okay man.
Matt: All right Kris. It was a pleasure.
Matt: I’ll see you next time.
Kris: Talk to you soon. Thanks.
Matt: Take care.