Welcome to the Real Estate Investing Mastery podcast.
Please leave a review of the podcast. You can review us on any platform you use to listen.
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:
- Find motivated sellers
- Use very detailed contracts
- Equity enhancement program
- Better Business Bureau/Chamber of Commerce
Mentioned in this episode:
- Joe’s podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s sponsor:WLO Book
- Marketing productivity: AppFolio
- Company website: Pre Property Solutions
- Coaching website: Smart Real Estate Coach
- CRM: Infusionsoft
What are you thinking?
First off, we really love feedback, so please click here to give us a quick review in iTunes! Got any thoughts on this episode? We’d love to hear ’em too. Talk to us in the comments below.
Enjoy this podcast? Share the love!