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!
Why 95% of all Real Estate Investors Fail with Rufus Thibodeaux
Real Estate Investor's Guide to Marketing and Branding - Part 2
Real Estate Investor's Guide to Marketing and Branding - Part 1
Do Real Estate Investors Need Good Sales Skills with Matt Cavanaugh
The Top 5 Reasons Real Estate Investors Fail in This Business
Reinvention: Finding Joy in Your Business Again With Melissa Johnson
Success Tips for Real Estate Investors with Charles Carillo
Real Estate Investors: Narrow Your Focus for Greater Success with Pili Yarusi
The Benefits of Using Master Lease Options as Interest Rates Soar with Bill Walston
How to Finish the Year Strong
6 Things You Need to Do Now to Set Yourself Up for Success Next Year
Advanced Strategies for Structuring Probate Deals with Al Nicoletti
Transitioning from the NFL to Real Estate Investor Superstar with Dean Rogers
Teaching Kids How to Achieve Financial Freedom Through Real Estate with Marta and Jakub Piechnik
How Real Estate Investors Can Make Money From Dead Leads with Chris Craddock
How to Get Started in Probate Investing
What it Takes to Become a Successful Real Estate Investor with Jason Yarusi
The 3 Biggest Mistakes Real Estate Investors Make When Raising Capital with Dave Dubeau
Tips for Making a Business Partnership Work with Tim Winfrey
Building Real Wealth, The Foundation of Financial Freedom with Rich Fettke
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
U.S Property Podcast
Aligned Money Show
Dubai Property Podcast
The Ramsey Show
The Clark Howard Podcast