097: Kitti Sisters Keeping Up With the Kardashians
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How do you keep up with the Kardashians? 🤔🤔
Easy – you don’t. Think about it, the Kar-Jen family, with a combined following of over $1.5 billion and networth of billions of dollars, is one of the most successful families in history.
According to The New York Post, the Kardashians are officially more powerful than the Windsors, and that’s from an article that was dated back in 2018.
Imagine now right? 😲😲
The family has been tarnished with scandal, sent stock of a Fortune 500 company plummeting, and brought plastic surgery from their reality into our homes via reality tv, all while building an empire.
Love them or hate them, regardless of your personal opinion of the Kardashian-Jenner family, you have to admire the financial savvy stemming from one family. And it’s worth taking a minute and analyzing how they amassed their fortune.
What’s one of their secret ingredients to their success? 👀
Two words: Real estate.
Let’s get into it.
What’s the secret ingredient to their success?
Real estate. 🌆
Kim Kardashian has owned several homes with her ex-husband, Ye – formerly known Kanye West. The former power couple had a large family and busy travel schedules, and their collection was and is something to behold.
You might have heard of one of their more famous acquisitions, which was their Hidden Hills mansion, the estimated value of which is somewhere around a whopping $60 million. The couple, known for fashion and design, obviously made some renovations, but they purchased the home in 2014 for just $20 million. That’s quite an increase in market value! 😉😉
On top of that, even more recently, Kim just bought Cindy Crawford’s former Malibu Oceanside Home for $70.4M, making it the most expensive home sold in Malibu in 2022. The craziest part is that the price tag of $70 million was $29 million less than the original listing price in March. Clearly, what these acquisitions and some dispositions prove is that this family is extremely savvy when it comes to their investments.
Check out TMZ’s take on this to learn even more! 👈
But these aren’t all of Kim K’s real estate endeavors. The list goes on and on… it’s pretty obvious that she loves real estate.
Kim isn’t the only successful Kardashian, not by a long shot. Kylie Jenner is reportedly also worth $1 billion, largely thanks to Kylie Cosmetics, owned by Coty Inc. She’s actually one of the youngest self-made billionaires and she too is already building a real estate empire.
If you thought Kim was impressive, Kylie has already amassed a real estate empire at a very young age, owning multiple houses, the first of which she purchased at just 17.
You might have heard 🧏♀️ of one of her most recognizable in Holmby Hills, which checks in at over $36.5 million. Through her real estate journey, she was able to make millions from buying and selling houses.
And then there’s Kourtney; together with her husband Travis Barker, they purchased an “extra” $14.5 million dollar home. Most people would dream about being able to afford a home like that, much less a secondary home. Can you even imagine? That’s quite a getaway home.
The list goes on and on for the whole family. Khole, Kendall, and even Kris Jenner have multiple homes. By observing their money moves, it’s clear that real estate is important to their wealth and something they invest heavily in.
So in order to keep up with the Kardashian, it seems like real estate is something we should pay attention to, huh? it seems like real estate is something we should pay attention to. In fact, according to a recent blog post, over the last two centuries, about 90% of the world’s millionaires have been created by investing in real estate. 😍🏢
You might be wondering how you can emulate this kind of success. But as you can see, the Kardashian-Jenner aren’t buying average homes. Their homes go for a bit more, which is something that ordinary earners won’t be able to access.
If you’ve been keeping up with the news, you know that there’s some scary headlines out there. In fact, Grant Cardone says that “the end user homeowner who needs a mortgage will be squeezed out of the housing market. They will be unable to buy the house even at a lower price because interest rates doubled. We will look back on this time and realize the Fed trying to control inflation actually created more damage than good, ending the chance for most to own their own home.”
That sounds pretty bleak, but what it means is that like it or not, the U.S. will become a renter’s nation due to rising home prices and interest rate hikes that are keeping prospective buyers out of homeownership.
So how do people emulate billionaires’ success when they can’t afford $70M real estate.
Enter: apartment syndication.
So what is apartment syndication? 👀
Apartment syndication is when you pool your money with other investors to purchase an investment property, under an apartment syndication sponsor. It’s essentially like you’re joining forces with other investors to purchase an apartment — and that’s actually all *you* have to do.
With apartment syndication, the investors themselves really just have one job: to invest their money. You’re not signing up to be a landlord or a property manager, and you don’t need to worry about broken dishwashers or rowdy tenants or come up with all the capital yourself – and that’s millions of dollars. 🤓🤓
That kind of work is left up to your apartment syndication sponsors, also called the general partners or syndicators.
Let’s take a second and do a little case study, one that hits close to home (pun intended).
Earlier this year, Team Kitti Sisters were able to close on a $71M – an institutional quality apartment community. And though we personally don’t have that kind of cash like Kim K, together with our passive investors, we purchased an income generating property that will grow our millions into more millions. We like that kind of math! 😉😉
What we loved about this deal is that it is a 2016 build, class A in Houston with an average household income of $130K. Here’s a Kitti Sisters ninja hack – the higher the median income, the better the quality tenant base. After all, we’re all about attracting creditworthy tenants.
When you have a strong tenant base, lightbulbs should go off in your head about other positive qualities such as more affluent residents, significantly lower delinquency, higher affordability, and long-standing residents.
Plus, the newer the asset, the less (if any) deferred maintenance will be required on the property. Big-ticket repair items such as roofing, foundation, plumbing, and electrical tend to still be in very good condition for newer properties and provide massive savings on CAPEX expenses!
Don’t forget this also means less rent collection delays, and affordability issues.
So if you want to quantum leap your fortunes like the Kar-Jen fam, make sure you join Kitti Freedom Club so you too can take down properties the Kar-Jen would be proud to call their own. 🙌🙏
GET ME ON THE KITTI FREEDOM CLUB
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