Chris Prefontaine has been in real estate for twenty-eight years. He has touched almost every corner of the industry, but these days, his primary focus is real estate coaching. Back in 2000, Chris started making his own investments while coaching students throughout North America. But when the recession hit in 2008, Chris and his team went back to the drawing board. There was a silver lining, however, because it forced Chris to reengineer his entire business. Now, his team buys and sells on terms. They do owner lease-purchase, owner financing, and sub-to; with a strong grip on the New England market and associates throughout the country, Chris’s team touches around 12-15 deals per month.
Buy and Sell on Terms
Doing deals with virtually no money down is a great option for people who are new to real estate; lease-purchase is a great strategy to start with. But whether you are doing lease-purchase, owner financing, or sub-to, Chris’s program offers three distinct paydays for every deal. The first payday is a nonrefundable down payment from the carefully vetted tenant-buyers. The second payday is the difference between your outgoing mortgage and the down payment from the tenant-buyer. The third payday includes markup on the property and the principal payments on the entire term. On average, Chris’s students see around $75,000 per deal.
No Barriers to Entry
The best part about the real estate industry is that anyone can do it, and the sky is the limit. Unlike corporate America, there are no glass ceilings because the only limiting factor is you. With Chris’s strategy, there is no barrier to entry, capital included. Every market is different, but the fundamentals stay the same. You can play in any water if you are willing to study the market and determine the best strategy. So, if you are interested in learning more about Chris’s methods and strategy, listen to our podcast episode “Buy and Sell on Terms, with Chris Prefontaine,” and visit him online at http://www.smartrealestatecoach.com/.