Ep. 79 - Build Your Real Estate Wealth During Bad Economies with Chris Prefontaine
Imagine starting your real estate empire with no money down. Are you curious about real estate strategies like these that boost your wealth? In this episode, Bestselling author and Wicked Smart Companies founder Chris Prefontaine joins us to share his innovative tactics refined during the 2008 financial crisis. We explore owner financing, lease purchases, and buying subject to existing loans while learning how to structure six-figure deals and control properties without personal guarantees. After this, you’ll be equipped with the advantages of buying from free and clear owners and leveraging low interest rates; you’ll understand assumable mortgages, lease purchases, and Chris's distinctive strategy of creating three paydays with rental properties. We also reveal insights into potential pitfalls and common investor mistakes, on top of resources from Chris that will help you stay ahead of the game!
Tune in now to stay informed about market changes and unlock the secrets of high-yield investments, effective negotiation, and much more.
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[00:01 - 06:05] Chris Prefontaine: improving your real estate position and developing wealth through creative financing
[06:06 - 11:33] Solving financial headaches: identifying the ideal seller situation for real estate success
[11:34 - 17:56] Unlocking the power of mirror wrap mortgages: how to thrive in a low inventory market
[17:57 - 25:14] Streamlining the real estate process with advice and resources on how to get started
[25:15 - 34:31] Negotiating deals in your niche—avoiding headaches and setting yourself up for a win
Quotes:
"If you do these straight criteria, you'll have a six-figure deal because we know the metrics." - Chris Prefontaine
"You're not going to wake up one day and have the things that you want. You're going to have to not only earn them, but you're going to build it, build it through wealth, build it through some sort of investment." - Quinton Harris
"Go do due diligence, and when you’re ready, commit and put the blinders on for 3 to 7 years. If you do that, and you have someone guiding you, you can’t have a bad experience.” - Chris Prefontaine
Resources Mentioned:
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Bank of England is a nationwide lender that takes the time to understand your needs and structure the right mortgage for you and your family. Find your local branch at https://www.boemortgage.com/.
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