July 17, 2019

Learning the Terms Business from the Smart Real Estate Coach, with Chris Prefontaine

Episode 58:

Chris has been in real estate for over 25 years. His experience includes the construction of over 100 single family and duplex homes (mostly 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.

What you’ll learn about in this episode:

  • How Chris’s real estate business got hit hard by the 2008 real estate market crash, and why he chose to deal exclusively in terms afterwards
  • How the terms business works, and how it operates under lease-purchase and free-and-clear owner financing exclusively
  • What Chris’s family business looks like today, and what kinds of deals he does with his associates
  • Why the average turn-around time on Chris’s deals is 36-60 months, and why it is vital that you don’t guarantee debt
  • How Chris’s methods create up to three paydays, with a first deposit of around $28,000, a middle payday average of $300, and a final payday averaging $35-40,000
  • How long it takes for Chris to find a tenant buyer on a typical property, and what the average price range of properties he deals in
  • How Chris’s methods are tailored to great tenant-buyers who don’t qualify for traditional bank loans
  • What advantages operating in a higher price range of properties offers over working in lower-priced real estate
  • What tools and methods Chris and his family team use to find leads and connect with sellers
  • Why equity is an illusion and why residual income is the key to creating financial freedom for yourself

Additional resources:

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