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Welcome to the Real Estate Investing Mastery podcast.

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Chris Prefontaine is my guest. He’s a creative investor who lives in Newport, Rhode Island.

Chris had to start over after 2008. He had so many projects going then that for the next 4 years he worked on nothing but settling his accounts with short sales, foreclosures, etc.

Chris now does every deal with creative financing. He does lease purchase, owner financing or subject to. He does not take bank loans, doesn’t use his own cash.

Chris concentrates on deals that make $50,000 over the 3-year life of a lease option. Most are fairly nice homes in good shape.

Chris rarely wholesales lease options. Rather, he stays in the deal. He has a few defaults every year, but not many. Most of his sellers are willing to extend term for tenant buyers in trouble.

It’s important to remember that real estate means getting rich over time, not getting rich tomorrow or next month.

Listen and learn:

What’s inside:

  • Find motivated sellers
  • Use very detailed contracts
  • Equity enhancement program
  • Better Business Bureau/Chamber of Commerce

Mentioned in this episode:

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