Want to hear a crazy shit story (literally)? Of course you do, that’s why you’re here! Chris Prefontaine, a real estate investor and coach, had to do some quick problem-solving when things went south at one of his college investment properties. If you’ve got questions about how investments work without a bank loan or personal money, Chris is the guy to ask. Listen in to hear Chris share what he advises investors, why people love his solution, and how he brought his sons into the business, too.
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Time Stamped Show Notes
- 00:40 – Introducing Chris, who’s been in the industry for almost 30 years
- 00:50 - He’s in Newport, Rhode Island and works with his two sons running a buying and selling entity and coaches others to do the same
- 02:40 - He got crushed in 2008, but during COVID-19 he’s been tripling deals
- 03:30 - They buy everything lease-purchase or owner financing; neither require a bank loan or personal money
- 04:00 – How it works
- 04:05 - Banks aren’t lending like they were, a lease-purchase helps people lock in profit and be hands-off on the process
- 05:20 - It helps you protect what you have no matter what the market does; he helps people get the solution they need
- 06:25 - His CSIRE story
- 06:30 - A client stayed in a home for 26 months and gave them credit the whole time; when she left, they had a payment due
- 07:25 - They gave her stability and peace of mind, but she was essentially paying to be in her home
- 07:40 - On debt limits
- 07:50 - After 2008, he’s careful not to be overleveraged and advises investors to do the same
- 08:25 - Another CSIRE story
- 08:30 - They used to buy college properties; they got a call and the basement was full of sewage a foot deep
- 09:10 - They went in and cleaned it manually and it happened a second time at the same property; it wasn’t the kid’s fault, roots had grown into the pipes
- 10:20 - How to contact Chris:
3 Key Points
- You can’t learn better than toe-to-toe.
- Don’t be overleveraged.
- People value stability and peace of mind.