Let’s Talk Real Estate Investing with Sharon Vornholt
Business:Investing
I have gotten the same question from a number of people recently who want to know what it takes to be a full-time real estate investor. They want to transition from part-time investing to full-time real estate investing, and I can’t think of someone better to talk about this than my guest today, Chris Prefontaine. Listen in as Chris gives you some of his best tips to make this transition. Let's dive in!
Chris has been in real estate for over 30 years, he is a 3-time best-selling author, and he has a wide range of experience that includes new construction as well as both residential and commercial real estate investing. Chris currently purchases 2-5 properties a month in his buying and selling business. He is also a coach, and the host of the popular podcast, the Smart Real Estate Coach.
Key Highlights:
[00:00 - 06:34] Opening Segment
• Chris shares his background and work
• How to become a full-time real estate investor
• Chris' business was built after the 2008 crash when he decided not to take out bank loans and risk exposure again
[06:35 - 15:36] Building a Business: Tips from a Real Estate Mentor
• How Chris became a coach and how coaches should be held accountable
• How people should match their investing strategies with their strengths and weaknesses
• Chris gives an example of a mentor who he did not agree with and why
• Why doing term deals can be a major advantage in the real estate market
[15:37 - 26:16] Protecting Your Business in a Changing Market
• The option that allows buyers to purchase the property without having to take on any financial burden
• Why sellers are willing to transfer the property to the buyer and leave the loan in their name
• Chris's outlook on how the market conditions have changed since the 2008 recession, and how this affects the way people should do business
[26:17 - 32:35] Closing Segment
• Don't sign bank debt personally
• Find an attorney who is an investor and smart, and have them tweak your contracts to make sure you're protected in case of market fluctuations
• Chris offers free resources that can help you to learn about real estate and make deals
Want to connect with Chris? Follow him on LinkedIn, Instagram, Facebook, Youtube, and Twitter. Check out Smart Real Estate Coach, and join the family that gets results!
Resources Mentioned:
The Smart Real Estate Coach
Key Quotes:
"Whatever niche in real estate you're in. Find someone in the niche that you can trust, that you can get behind morally and ethically." - Chris Prefontaine
"You don't have to sign personally on bank debt and you won't worry as much about market fluctuations." - Chris Prefontaine
Want to Learn More?
Connect with me through my website, Instagram, and LinkedIn
Or you can send me an email at sharon@sharonvornholt.com
Be sure to check out the Louisville Gals Real Estate Blog and my course Probate Investing Simplified.
Learn more about this podcast on iTunes, or Stitcher.
If you liked my show, please LEAVE AN HONEST REVIEW, like, and subscribe!
Marketing Tip #3 - The One Thing Guaranteed to be the "Kiss of Death" for your Business
Creating a Nurture Series of Direct Mail Letters for Probate
Marketing Tip #2 - Do You Ever Feel Like Throwing in the Towel?
Marketing Tip #1- Everything You've Learned About Marketing is Wrong
What’s the Difference Between Probate Leads and Inheritance Leads?
How to Get the Very Best Results from Your Probate Direct Mail Campaigns
Ask Sharon: How Many Times Should I Send out Direct Mail Letters to Someone?
Why You Need to Invest in a Professional Brand Photoshoot for Your REI Business
How to Buy Tons of Houses in Probate with the Right Letter
Building Wealth: The 2-5-7 Method with Andrew Holmes
What Comes First? Systems or Building a Team?
My Probate Investing Roadmap
What are the 7 Traits of a Successful Wholesaler?
Are You Coachable? What Exactly Does that Mean?
Making the Transition from Self Employed to Business Owner
Do You Have a Real Business or Have You Just Created a Job for Yourself?
5 Ways to Ensure You Have Happy, Responsible Tenants that Stay for Years
How this MN Mom Flipped Over 100 Houses with Amber Miller
The 10 Most Frequently Asked Questions in Probate Investing
The Good, the Bad and the Ugly of Working From Home
Create your
podcast in
minutes
It is Free
The Business Of
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast