16 Oct How to Build Your RECESSION PROOF Muscles, with Chris Prefontaine
Chris is the best-selling author of Real Estate on Your Terms: Create Continuous Cash Flow Now, Without Using Your Cash or Credit. He’s also the founder of SmartRealEstateCoach.com and the Smart Real Estate Coach Podcast.
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. He also participated (and still does selectively) in doing condo conversions (multi-family homes to condos) and “raise the roof” projects (converting single-family ranches to colonials in growth neighborhoods).
Chris has been a big advocate of constant education and participates regularly in high-end mastermind groups, as well as consults with private mentors. He runs his own buying and selling businesses with his family team, which buys 2-5 properties monthly, so they’re in the trenches every single week. They also help clients do the same thing around the country.
Chris and his family team have done over 80 million in real estate transactions. They mentor, coach, consult, and actually partner with students around the country (by application only) to do exactly what they do.
What you'll learn about in this episode:
- Why it is important to find a coach or mentor who has been through and survived recession cycles in their own investment business
- Why continuing to learn and grow mentally and personally is important for furthering the growth of your business
- Why you should never personally sign on a bank loan or a loan from a private investor, putting your family's assets at risk
- Why you should set up lines of credit with financial institutions when you don't need them, rather than trying to get them when you do need them
- Why you should buy everything on terms, and why you should set up the agreement for the longest term possible
- How renegotiating your deal and offering a large principal paydown can allow you to extend the terms out even longer
- Why the Smart Real Estate Coach Deal Structure Sunday videos on YouTube are required viewing for anyone in the terms niche
Past podcast episodes and other resources that deal with the above points:
- Episode 15 with Dr. Joe Vitale: https://smartrealestatecoachpodcast.com/podcasts/joe-vitale/
- Episode 56 with Ty Crandall: https://smartrealestatecoachpodcast.com/podcasts/ty-crandall/
- Episode 104 with Ty Crandall: https://smartrealestatecoachpodcast.com/podcasts/ty-crandall-2/
- Asset Protection Video: Email support@SmartRealEstateCoach.com with subject “Chris said please send PCS link”
- Episode 86 with Brett Gilliland: https://smartrealestatecoachpodcast.com/podcasts/brett-gilliland/
- Elite $1 Million+ Plan: Email support@SmartRealEstateCoach.com with subject “Send me $1M+ plan with Elite”
- Episode 81 with Lance Edwards: https://smartrealestatecoachpodcast.com/podcasts/lance-edwards/
- Wicked Smart Sitdown: Email support@SmartRealEstateCoach.com with subject “Send Wicked Smart Sitdown link”
- Deal Structure Sunday playlist on YouTube: https://www.youtube.com/playlist?list=PLi7VN88XrySAQCa_NTNwtZwVTpVpHHRYh
- 31-Day Billionaire Program: www.SmartRealEstateCoach.com/Billionaire
- Elite Entrepreneurs website: www.SmartRealEstateCoach.com/GrowWithElite