Episode 61
Real Estate On Your Terms With Chris Prefontaine of Smart Real Estate Podcast
Real Estate On Your Terms With Chris Prefontaine of Smart Real Estate Podcast
Are you in the market for real estate, but don't quite have the necessary funds for a traditional purchase? If so, alternative methods of buying property may be an excellent solution for you! In this podcast episode, we discuss creative alternatives to purchasing real estate that can help maximize affordability and minimize your financial risk. Strategies like 'terms' will also be covered as we continue our deep dive into this subject. Listen in to get all the details and resources you need to make an educated decision about whether these non-conventional methods are right for you.
Real Estate on Your Terms with Chris Prefontaine
In this episode of the Remarketing Podcast, Jerome Lewis interviews Chris Prefontaine, a three-time best-selling author and founder of Smart Real Estate Coach. Chris discusses his journey in real estate, the strategies he uses to invest without bank loans, and how he helps others achieve similar success through creative financing.
Conclusion
Chris Prefontaine emphasizes the importance of creative financing in real estate investing. By leveraging strategies such as lease purchases, owner financing, and subject-to deals, investors can navigate market challenges without relying on traditional bank loans. Chris’s approach highlights the benefits of reducing personal financial risk and achieving sustainable success in real estate.
Key points
🎯 Chris's Background: Started in real estate in 1991, building homes on single lots without closing until the homes were sold.
📈 Journey into Real Estate: Transitioned from owning a Realty Executives franchise to running his own investments and coaching clients across North America.
📊 Post-2008 Crash: Re-engineered his business to avoid bank financing, personal loans, and using personal cash, ensuring stability in all economic cycles.
🛠️ Creative Financing Strategies: Focuses on lease purchases, owner financing, and subject-to deals, enabling investment without traditional bank loans.
📚 Benefits of No Bank Loans: Highlights the mental and financial relief of not being personally liable for loans, controlling significant real estate without personal debt.
🚀 Building a Family Business: Runs a successful real estate investment business with his family, purchasing 2-5 properties monthly and helping students do the same.
💬 Lead Generation: Sources leads from Realtors, other investors, FSBOs, expired listings, and rental owners, among others.
🔍 Three Main Strategies: Provides high-level overviews of lease purchases, owner financing, and subject-to deals, explaining their practical applications.
🧠 Resilience and Adaptability: Emphasizes the importance of being flexible and creative in response to market changes, ensuring continuous success.
🤝 Educational Approach: Offers training and coaching to help others implement creative financing strategies and achieve financial independence.
Summary
- Introduction: Jerome introduces Chris Prefontaine, highlighting his extensive real estate experience and innovative investment strategies.
- Journey into Real Estate: Chris shares his transition from building homes and owning a Realty Executives franchise to creative financing strategies.
- Post-2008 Crash: Discusses how the 2008 crash led him to re-engineer his business to avoid bank financing and personal loans.
- Creative Financing Strategies: Explains the three main strategies: lease purchases, owner financing, and subject-to deals.
- Benefits of No Bank Loans: Highlights the mental and financial relief of not being personally liable for loans.
- Building a Family Business: Shares how he runs a successful real estate investment business with his family.
- Lead Generation: Discusses various sources of leads, including Realtors, other investors, FSBOs, expired listings, and rental owners.
- Three Main Strategies: Provides overviews of lease purchases, owner financing, and subject-to deals.
- Resilience and Adaptability: Emphasizes the importance of flexibility and creativity in response to market changes.
- Educational Approach: Discusses his training and coaching programs to help others achieve financial independence through creative financing.
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