Chris Prefontaine is the best-selling author of Real Estate on Your Terms: Create Continuous Cash Flow Now, Without Using Your Cash or Credit. He’s also the founder of SmartRealEstateCoach.com and the Smart Real Estate Coach Podcast.
Chris has been in real estate for over 25 years. His experience includes the construction of over 100 single-family and duplex homes (mostly in the 1990’s and selectively to date), has owned a Realty Executives Franchise (Massachusetts 1994-2000) as broker/owner which maintained high per-agent standards and eventually sold to Coldwell Banker in 2000. The 2000’s included coaching ½ million and higher REALTORs® in order to scale & automate their business throughout the US and Canada. He also participated (and still does selectively) in doing condo conversions (multi-family homes to condos) and “raise the roof” projects (converting single-family ranches to colonials in growth neighborhoods).
Chris has been a big advocate of constant education and participates regularly in high-end mastermind groups, as well as consults with private mentors. He runs his own buying and selling businesses with his family team, which buys 2-5 properties monthly, so they’re in the trenches every single week. They also help clients do the same thing around the country.
Chris and his family team have done over 80 million in real estate transactions. They mentor, coach, consult, and actually partner with students around the country (by application only) to do exactly what they do.
What you will learn in this episode:
- Chris outlines the financial details of a specific deal he did that shows what typical owner financing terms look like
- How Chris purchased this expired listing under owner financing purchase sales agreement for $183,900
- How payday one for this deal was $15,000 non-refundable, with a $923 per month principal-only payment for a payday two of $23,040
- How the third payday for this deal, once it comes to fruition, will total over $85,000 due to the significant principal paydown from the principal-only payments for four years
- Why the total profit of this example deal, assuming the deal ends at year four, will be $123,344
- How Chris and the team can often extend the terms of a deal by offering to prepay, especially around the Christmas season
- Why a “deal after deal” can be incredibly lucrative, and why it is important to think outside the box and be flexible to maximize your profitability
- Why the terms niche is thriving even during the challenges of the pandemic, and why it is the most recession-resistant niche in real estate
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