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222: Chris Prefontaine on Getting Paid 3 Times For Every Real Estate Deal You Do
Manage episode 301849113 series 2942547
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One of the biggest misconceptions about real estate for first-time investors is that you have to come up with the money yourself, and you have to operate within the bank's terms.
If interest rates go up, too bad. If the economy crashes, that’s on you. If a deal goes awry, you’re the one who’s liable.
Today’s guest, Chris Prefontaine, knows that’s not really the truth—that’s just what we’ve been repeatedly told.
Chris Prefontaine is a 3-time best-selling author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer’s Real Estate Investing for Women. He’s also the Founder and CEO of SmartRealEstateCoach.com and host of the Smart Real Estate Coach Podcast.
Having been in the real estate game for nearly 30 years, Chris has lived through his fair share of ups and downs. After the economy crashed in 2008, Chris’s real estate business crashed with it, forcing him to start over from nothing. This time, he vowed never to invest in a deal he was personally on the hook for.
Fast forward to today, Chris only buys real estate “on terms” without using any of his own cash or credit—and in today’s episode, you’re going to hear exactly how he does it.
You’ll learn what it means to buy real estate “on terms”, his approach to structuring deals, and the step-by-step system he uses to create 3 paydays for every deal he does.
Key Takeaways with Chris Prefontaine
- How to create 3 paydays for every deal you do.
- Chris’s step-by-step system for buying, structuring, and selling real estate.
- What does it mean to buy real estate “on TERMS”?
- How to structure principal only payments on a seller financed deal.
- Why Chris doesn’t like the flipping/wholesaling model.
- How to buy deals without using any of your own money.
- The difference between a “sandwich lease”, “seller finance”, and “subject to” deal and how to effectively use them to avoid being on the hook personally.
- Why an active mentor/coach is critically important to your real estate success.
Want the Full Show Notes?
To get access to the full show notes, including audio, transcripts, and links to all the resources mentioned, visit https://acceleratedinvestorpodcast.com/222
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