How to Find Off Market Deals in Today’s Market with Chris Prefontaine

Passive Wealth Strategy Show - Real Estate for Busy Pros

Chris Prefontaine is a 3-time best-selling author of Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer’s Real Estate Investing for Women. He’s also the Founder and CEO of SmartRealEstateCoach.com and host of the Smart Real Estate Coach Podcast. Chris stresses the importance of learning from experience and being hands-on, and offers listeners an opportunity to learn more about his business and how he helps others build Walmart on Main Street. He discusses how to structure seller financing in a deal, and how to find off-market deals. If you’re interested in finding out more about real estate investing, this episode is a must-listen!
[00:01 - 11:24] Opening Segment

• Chris teaches people how to invest in commercial real estate
• He teaches us how to find deals in today’s market
• Real estate is a challenging market, and buying or selling a home can be especially difficult in today’s market
  • He recommends buying property on a financing lease purchase or subject to existing financing
• Seller financing is difficult to negotiate in today’s market
  • Most deals are done through principle only payments
  • When negotiating seller financing, it is important to be realistic about the price and terms of the deal

[11:25 - 25:07]

• Chris recommends to get better at pivoting in every market to e successful

• The biggest misconception in our industry is that only short-term deals are profitable

• He recommends focusing on high-quality leads and speaking to only a few sellers at a time

• He suggests to outsource the rest of the work

[25:08 - 31:55] Closing Segment

• Quick break for our sponsors

• The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor. Learn more about Personal Capital at www.escapingwallstreet.com

• What is the best investment you've ever made other than your education?
  • Chris says that we have to invest in people, there’s no way to grow it. You can’t do it by yourself
• What is the worst investment you’ve ever made?
  • He says that he invested the money that he earned at his father’s welding supply business into a penny stock because a broker told him to do so. In a couple of months, his money was gone
• What is the most important lesson that you've learned in business and investing?
  • Chris explains that in the market crash, he was able to find someone that has gone through it

Connect with Chris Prefontaine through LinkedIn, Facebook, Instagram, Smart Real Estate Coach Podcast and visit his website https://smartrealestatecoach.com/ Get his book at Real Estate on Your Terms, The New Rules of Real Estate Investing, and Moneeka Sawyer’s Real Estate Investing for Women!

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.
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Tweetable Quotes:

“No matter what you do, find someone that has done that, that you can get behind morally ethically value.” – Aaron Norris

“You got to invest in people, period. There's no way to grow it without that, you can't do it yourself.” - Aaron Norris

“If I were you, I would pick the neighborhoods that you want to be in, even right down to the zip code of the neighborhood and I would then pull a list of free and clear properties and out-of-state owners in that area and I'd call and/or mail them. They’re great, great, seller to deal with.” - Aaron Norris