Chris Prefontaine is the Founder and CEO of SmartRealEstateCoach.com and host of Smart Real Estate Coach Podcast. With over 30 years of experience in the real estate business, he has become the go-to expert for buying and selling on terms. He made it through the great recession and came out stronger than ever. And in this episode of the Progressive Dentist podcast, Chris joins us to tell his story and explain why buying and selling on terms is the ideal investment strategy for small business owners across the country.
Buying and Selling On Terms
Chris’s strategy for buying and selling on terms can be broken into three fundamental parts: lease-purchase, owner financing, and subject to existing financing. Lease-purchase is where the investor sets up a lease deal with the property owner that eventually leads to a purchase agreement. Owner financing deals with property owners who don’t owe anything on the home, and they act as the bank for the real estate transaction. Subject to existing financing means the property owner (typically under some kind of external pressure) sells the home to the investor but keeps the loan under their name. All of these tactics are much safer than traditional real estate investments, and they enable investors to protect themselves in a volatile market.
You Get What You Put In
When you are busy running a practice, it is hard to imagine devoting even more of your time to an entirely new craft. But real estate investing doesn’t have to start as a full-time endeavor. Most of Chris’s students come from a professional background looking for some kind of supplemental income or an exit strategy. Your level of engagement as a real estate investor depends on the goals you have, but remember, this is an opportunity to generate income that you can step away from at almost any given time. Opposed to wholesaling, flipping, or any other investment strategy, you get three distinct paydays for every deal. Your money is working for you while someone else assumes the bulk of the risk. As always, please visit me at www.theprogressivedentist.com for more informative podcast episodes with other remarkable business leaders.