In this episode, real estate veteran Chris Prefontaine shares his expertise on buying houses with “no money down” and negotiating zero-interest deals with sellers. With nearly 30 years of experience, Chris has built new homes, owned a successful Realty Executive Franchise, and now runs a thriving buying and selling business with his family team. They purchase 2-5 properties monthly and guide students across North America in doing the same. Chris’s in-depth knowledge and experience in real estate cycles equip his students to navigate this hot market.
Through his experience, he will guide you on conquering the real estate waters and getting deals done effectively. Stay tuned for a special treat as Chris showcases his lease purchase strategies and gives you a free book at the end of the show!
Key Takeaways:
• How Chris got started in real estate.
• What is a niche in terms of real estate, and how did Chris land in this particular niche?
• Controlling a property through a lease purchase.
• Why would sellers be happy with principal-only payments with no interest?
• How to confidently converse with your seller about the “no money down” strategy.
• Buying subject to existing properties.
• Chris’s top three strategies for finding motivated sellers who are not part of the MLS.
Connect with Chris
Email Chris at: chris@smartrealestatecoach.com
Contact Chris at: (401)-808-0648
Website: https://www.smartrealestatecoach.com
Free giveaway:
Giveaway: www.jayconner.com/chris
Master’s Class: www.smartrealestatecoach.com/mastersclassStrategy Call: www.smartrealestatecoach.com/actionBook Request: wickedsmartbooks.com/privatemoneyauthority
Check out my book: Where To Get The Money Now: How and Where to Get Money for Your Real Estate Deals Without Relying on Tradition (or Hard Money) Lenders.
Get it here for FREE: https://www.jayconner.com/book
Sign up for the Private Money Academy and get 4-weeks free: https://jay-conner.mykajabi.com/offers/AMM4hCPW/checkout
Sign up for the Private Money Academy Conference: https://www.JaysLiveEvent.com
Timestamps:
0:01 – Get Ready To Be Plugged Into The Money
0:16 – Today’s guest: Chris Prefontaine
2:54 – What is Terms & Terms Niche In Real Estate?
6:20 – What is Lease Purchase?
9:46 – What is Seller-Financing?
11:32 – Why would most sellers be happy with principal-only payments and no interest?
14:20 – Percentage of Seller-Financing with No-Downpayment
16:34 – What is Subject-To The Existing Note?
20:22 – More Subject-To Sellers In Today’s Real Estate Market
23:46 – Effective Ways In Finding Motivated Sellers
25:50 – Biggest Mistake In Real Estate And How Did You Overcome It
27:40 – The Best Mindset To Continuously Push Through
28:54 – Get Chris Prefontaine’s Best Selling Book: “Real Estate On Your Terms and Deal Structure Overtime” simply go to this link – https://www.JayConner.com/Chris
30:49 – Connect with Chris Prefontaine – https://www.SmartRealEstateCoach.com
Surviving Real Estate Cycles: How To Buy Properties With None Of Your Own Money With Jay Conner & Chris Prefontaine
Jay Conner
00:00:00
Oh, my lands. Have I got an amazing guest for you today? My guess is Chris is gonna pull back the curtain and listen as to why you wanna stay to the end of this episode. First of all, Chris is gonna teach you how over the past 30 years he has been buying houses and any kind of real estate with no money down from sellers. We’re talking about 90% of his sellers of properties are selling properties to him with no money down. And guess what? And the majority of them are selling him these houses with zero interest on top of that, he’s a lease purchase expert and he’s also a subject to the existing note expert. Stay tuned. Don’t go anywhere. And at the end of this show, he is gonna be giving away his brand new book, absolutely free. And guess what? It’s not only free. You don’t even have to cover shipping. So stay tuned right now. You are about ready to be blown away by my friend, Chris. Oh, my land’s welcome to another amazing episode of the show. I’m Jay Conner, the private money authority. I’m so glad that you are tuning in to information that you have not heard anywhere else. His name is Chris Prefontaine. I’ve had him on the show before. He’s one of my most amazing guests and the odds are you have not heard him yet. So with that, let’s bring Chris onto the show and get started. Chris, welcome to the show, my friend.
Chris Prefontaine
00:01:45
Hey Jay. Good to see you again, buddy.
Jay Conner
00:01:47
It is great to see you again as well. Chris, I appreciate you blocking out some time to be here on the show to share your many years of experience and what it is that you’ve got going on today. What’s working in this market, but before we get started, nobody understands and knows how to introduce Chris better than you do. So Chris, introduce yourself. Tell us how you got started in real estate.
Chris Prefontaine
00:02:12
Yeah, I’ll be, I’ll be brief cuz it’s 30 and a half years now, and we’ll bore people. So I got started in real estate cause I hung out with my father who was not in real estate, but he had a conventional brick-and-mortar business, a welding supply business. And he built his buildings, Jay. And as he built them, I was too young to understand how this worked, but as he built them, he then leased them back to himself. And I remember saying to him when I was younger, I don’t know how old, maybe 10, 12, I don’t understand. You’re the same person. How do you lease it back to yourself? And now of course with the way LLCs and everything work, I get it. But I didn’t then. So I was in and around that environment, I then went off and built a bunch of homes.
Chris Prefontaine
00:02:54
Then I bought a Realty executive franchise sold out to Coldwell Banker. After that, that brings me to 2000. I started working on my investments and coaching people, but that led up to the crash when the crash happened in oh eight, took me four years to dig out four. And that was because I was signed personally on all those notes and it was a bit of a nightmare. I dug out I didn’t file for bankruptcy. And that was the impetus to develop the terms niche. So for those of, you’re not familiar with that, just creative real estate, very specifically how we do it. And that has built to today, myself, my son, my son-in-law, and a great team doing deals all around the country with who we call associates. But they basically will do deals while we coach them interactively. So it’s, there’s no better way to learn it, bridges that gap of learning. And then we revenue share with them for so many deals and then they’re off on their own because they don’t need us for life. So that’s 30 and a half years. And about a minute or two
Jay Conner
00:03:56
Excellent job, Chris. There’s no way I could have done 30 years in 90 seconds. So lemme ask you this question. Yeah. So as you, as you know, as I know, as the person that’s listening to us right now knows there’s all kinds of real estate, there’s a hundred different ways to be in real estate. There are single-family houses, there’s commercial, there’s self-storage, there’s land, you know, on and on and on and on there’s new development of residential. And then once you decide which part of real estate you get in, there are all kinds of creative strategies that, you know, revolve around those different, you know, strategies in real estate. So here’s the question. How and why did you land on this particular niche called the term niche? And before you answer that question, define what terms and terms niche mean.
Chris Prefontaine
00:04:52
Sure, thanks. So terms, niche to me means buying creatively either one of three ways, lease, purchase owner financing. And we niche down that we’ll talk about that or, and, or subject to existing financing. So how is that the definition, but how and why did I do it come out of oh eight two things come to mind, Jay immediately. And we can D dig deeper if you want and peel the onion back. But two things that come up are number one, I was personally signed on debt on about 23 projects or properties when oh eight happened. And like a light switch went off February of oh eight, hit me right between the eyes. So when I dug out, literally by February of 12, which took four years, I said, all right, if we’re gonna do this again, like I was spent mentally, physically, it was stressful. So if we’re gonna do this again, what will we do?
Chris Prefontaine
00:05:53
Sort of, what are the rules we’ll play by if you will? And the things that just were glaringly obvious were number one, we will not, will not, will not sign on debt ever again. Now nobody will loan to me then, but I’ve rebuilt. And I could now, and I don’t. So we don’t sign first on any bank loans. We don’t borrow period with very few exceptions. That’s number one, number two, I was a little frustrated as I sat and kind of went over what we would do. And just to give some context for the listeners, I went from about a 2.8 million property overlooking the water, which today is assessed at about 8 million, not assessed value to a one-bedroom apartment. Talk about a humbling experience. One bedroom, my wife and I to rebuild quite an endeavor. And when I did that, I said, all right, every January for the past, you know, three, two and a half decades, I would say, all right, real estate treated me well, but I gotta kind of do it again.
Chris Prefontaine
00:06:52
Like it’s transactional and a lot of the niche issues, not all, but it, in my world, it was, it was building, it was flipping, it was rehab. It was the Raise the Roof project. It was condominium conversions. Those all paid me well. But once. So I said, how can we get it? So that’s, it’s not just that payday, but I can get some long-term sustainability federally, the three payday system, which is we get paid now on deals. We get paid over time. We get paid long-term. And that to me is the ideal business model for any business, not just what we do.
Jay Conner
00:07:26
So the benefits of this term, niche, number one, I just heard you say in recap, you’re not signing any personal guarantees. You’re not signing for debt, which reduces your risk greatly. So when you’re in this term niche, you’re buying creatively, let’s dig down a little bit. You mentioned a lease purchase. You mentioned seller financing. You mentioned subject to, I’d like to drill down for the person listening to us. Exactly. What do you mean by control controlling a property lease purchase? Are you buying on lease purchase? Are you selling it on lease purchase? What do you mean by lease purchase?
Chris Prefontaine
00:08:15
Okay, good. So in all states, except for Texas right now, you’d, we’d refer to this as a sandwich lease. So we’re gonna tie the property up with the seller via a lease purchase, where they’re gonna file a notice of options so that we’re on the title and we’re protected most importantly. So they can’t sell that property off to Uncle Joe or something happens to it. We then turn around and do a rent-to-own with our buyers. But here’s a huge distinction, Jay, I wanna find out cause I’ve been on shows and I’ve listened to shows where mentors talk about this. Our buyer program is extremely strenuous where we have about two to five. COVID may be pushed up to seven, but it wasn’t a bad percent default rate because in this case, my son, Nick has a bunch of steps. He brings them through to pre-qualify them and to make sure that truly buyers, not renters that want to have to have a dream to maybe someday on. And the credit’s been messed up for 30 years, but truly buyers who truly need time.
Jay Conner
00:09:17
And you’re talking about the, you’re talking about the exit strategy.
Chris Prefontaine
00:09:21
Yeah. So we tied up on, a lease apprentice and we exit on a rent-to-own. Now there are plenty of advances where we’ll give them an incentive and maybe change that lease to a longer-term vehicle for us and then the owner finance them. But that’s, probably a different conversation.
Jay Conner
00:09:38
So that’s the least purchase is your desire in your business model to help them or see them through getting their financing or are you happy with them working on that? So to speak on their own
Chris Prefontaine
00:09:55
Good question. So we point them and suggest to them where they should go for financing. We don’t do it, but there are two things that two bots one is we make sure that part of their agreement is they’ve gotta fulfill their mortgage ready steps. We call it. And if they get off track at any point, it defaults their purchase option. In which case they would just be a tenant. And again, we’re about two to 7%. It’ll come back to the two to five, I think post-COVID here. And then if they, if we end up turning our deal, our side of the deal into a longer-term deal, change the lease to a substitute. Eventually, we’ll give them a carrot, the buyer, a carrot, and we’ll say, Hey, if you get your deposit up to 20% over time, take your time. And if you never miss a payment, you’ll never see a bank. If you don’t wanna we’ll own finance you. So there are all kinds of different ways to pivot, but that’s the base model.
Jay Conner
01:10:50
Got you. And then you talk about seller financing. What does that mean
Chris Prefontaine
01:10:57
When we buy you mean
Jay Conner
01:10:59
Yeah. When you’re buying on seller financing.
Chris Prefontaine
01:11:01
So we go a little bit more narrow in this niche. Jay, we cause owner financing’s broad. We will look for properties pointedly, including the office building. I bought four years ago that is debt-free, free, and clip. As you probably know, it’s I don’t know, somewhere around a third of the properties. I talked to a mortgage broker in Florida the other day that told me in Naples, it’s 52% of Naples is free and clear. I thought that was cool. So we look to talk with them. Why? Well, especially during this hot market, they don’t need to sell. They would’ve presumably put a loan on in the past or, you know, HeLOCK or sold what they want is some cool planning, estate taxes, family. You know, they want that kind of planning as long as they get their price. So we hunt for that, so to speak, and then they become the bank.
Chris Prefontaine
01:11:49
We pay them monthly payments. In most of our deals, our principle is only monthly payments principle only. And so it’s a great tool against any market changes, et cetera. Now, quick, quick example, we bought the office bill. I’m talking about all my companies are it, but I have tenants too. He was free and Korea. He was a very savvy investor, a big landowner. He said, I pointedly want owner financing, but he wanted interest. And I said, well, we buy with the principal. Only what we did as a hybrid. I paid the principal only for two years. Got the principal down low. And then at that time, we took it. This was in 20. We took it in amortized, the rest at his interest rate. We both won there and he was super happy. I paid him his price and I got a 20-year term.
Jay Conner
01:12:38
Why would most sellers be happy with principal-only payments and no interest?
Chris Prefontaine
01:12:46
Well, here’s my experience. Some want, like, I’ll pay a small premium. Let’s just say it’s a house. Get the building out of the mix for a minute. If it’s a house and it’s worth say 300,000, I might pay three 20 or three 10. What that depends on is how long they’ll go out with me for principal-only payments. And so I call it ego, call it. They want the best price for that component. They, let us go on principle. The only second is frankly when the rates were as low as they were, I don’t think they wanted to file for, you know, for interest income and, and go through that mess with a little money. It was most go for it. If they get their price, most sellers witH Fh residential anyway, go for it.
Jay Conner
01:13:28
Yeah. It’s been my experience. And also through other colleagues, such as yourself, when it comes to seller financing for whatever reason. And tell me if you agree with me, the main important thing in the seller’s mind is I want my price. I want my price. And you’re now going to show them a way where they can get their price.
Chris Prefontaine
01:13:54
I agree a hundred percent with you. And I said, call that ego, whatever it is, they just wanna know what they want it on their price range. I, I agree with you. And sometimes I’ll have to say to the seller, you know if they say any other variable, like interest or down payment or higher monthly, I’ll just say, look, there’s, there’s like a quadrant here. We got a price. We got monthly, we got the term. And we got down. If they bring it up. I don’t. And so I say, I can’t give you all four. Let’s have an open conversation here. I can give you maybe a couple, but I can’t give you all four and that’s we just have an open chat.
Jay Conner
01:14:26
And that sounds fair. Right? Right. It sounds fair because actually what I hear you saying in the conversation with a seller is I want this to be a win-win. I want it to win for you. I want you to get your price. It’s gotta be a win for me, based on the strategy that we use to fund or get your property financed to where, you know, it’s gonna be wind on either side of this deal, right?
Chris Prefontaine
01:14:56
A hundred percent. Yeah. A hundred percent. And they feel good about that. And I’ll also say things like these are just like seeding in their mind, right? We’re just seeding some thoughts. And one is, I’ll say, look, we’re a conservative investor. If I try to get along the term we’re conservative. And the last thing I wanna do is call you back and ask for an extension. So I wanna overperform for you not under, and I don’t wanna over promise. So this is why I’m asking for this term and we don’t default. And I just say that confidently it’s, it’s more about making them comfortable with that. I think.
Jay Conner
01:15:26
Yeah. I agree. What percentage best guess, unless you know, specifically what percentage of sellers with seller financing will sell to you? No down payment.
Chris Prefontaine
01:15:41
That’s a good one. I found, find, and found that once I get over 600 in my market over 600 grand or so you’re starting to test the waters of, I gotta put something down. We bought a house on the water for 9 45 and had to put down eight grand. I, I mean, that’s nothing. In my opinion, what we do say, Jay is, look, we’re gonna pay you, your transfer tax, cuz all our states, we deal and have tax some, some don’t for our students, but ours.
Jay Conner
01:16:10
Yeah. Well, here in North Carolina, we pay $2 per thousand.
Chris Prefontaine
01:16:14
Yeah. I think we’re 4 56 per thousand. So I’ll say to them, we’ll pay your transfer tax. I don’t expect you to come out of pocket. I don’t, if I don’t give you a down payment, I’ll pay you to transfer tax which usually works. And sometimes in, in their closing costs, but if they want it down, they’re gonna pay their transfer tax and their closing costs. In which case you do the math, it’s not a big deal. So most of our properties are gonna be under that price range. So I’m gonna tell you that about 90 to 95% of our deals are no, no money down. My building was an exception. It was an income property. I had no problem putting some money down
Jay Conner
01:16:48
Well, for you to do 90% or so with no money down is phenomenal. And I would say your students rely initially on your scripting. Yeah. How, as to how you’re able to confidently have a conversation with a seller? That’s gonna sell you with no money down.
Chris Prefontaine
01:17:10
Yeah. You know, when this came up, this is like literally two hours ago, I got off of a two-hour mastermind call, but it was with the higher level people we have in our community. And I used to mistakenly think, oh, you gotta talk about high-level stuff and go into all these details. You know what, Jay, the last like five calls we did with them, this is the highest level. Now we did scripts over and over and over. And they loved it because when the market’s crazy like it is stick to the basics. Like don’t complicate it
Jay Conner
01:17:37
Do not complicate this business. And then we come to one of my very favorite creative strategies that you do and teach and that is buying subject to the existing note or the existing mortgage. So tell me, what does it mean to buy subject to the existing note?
Chris Prefontaine
01:17:59
Yeah. I love it too, by the way. And I find that the people that, that do the sandwich leases at the beginning are students. They end up, so I’ll call it graduating and understanding that they wanna stay in these deals. So subject two just means I’m gonna buy Mrs. Mary’s home. And Mary I’ll just give you a scenario. Mary owes 250,000. Mary came out of COVID and is stressed out and needs someone to cover that ASAP. So we’ll buy that home from Mary and we will, when you go to the closing table, if you’ve ever bought a home, you’re used to seeing new money, come to the table by wave alone. And that’s listed on the settlement statement. Instead, it says subject to existing loan present balance is listed. You are buying that property and that loan is staying in the seller’s name and it will stay in the seller’s name until such time you cash it out. I can tell you that compared to pre enduring oh eight crashes, I sleep a heck of a lot better mentally, and physically health-wise, knowing that out of the 85 or 90 million in real estate, we control, we are not on one single loan. And so, yeah, it’s one of my favorites, Jay, because you can get all kinds of creativity on the selling end too. After you tie it up.
Jay Conner
01:19:17
Chris, I never heard of this strategy of buying subject to the existing note until February 2009. And when I heard about it, my first thought was who in their right mind would sell me their house, transfer the title into my entity’s name, to where I own the property? And they’re gonna leave the mortgage in their name. I’m not assuming the mortgage they’re leaving the mortgage in their name. I’m agreeing to make their mortgage payment who in their right mind would trust me to make their payments? I have figured out the answer to that. What’s your answer?
Chris Prefontaine
02:20:04
Well, I think this is what you’re looking for. If it’s not, please tell me, because I find that we talked about refining earlier. That’s people that are not in any way, stressed out. I go to the free and clear opposite. The end of the spectrum completely is the people that need financial relief or something. Cause something to trigger some urgency, like a divorce. We just did one like a death. We sadly just did one of those or like post-COVID. We just did one of those. So it’s usually people that are stressed out that need immediate relief. Two quick examples. A gentleman calls me and says, you talk, you talk to me when I was a facility by the owner, I wasn’t in a hurry. I got custody of my grandson. My truck is packed and we’re going cross country in four days. Can you come to do that thing you talked about?
Chris Prefontaine
02:20:51
And he sold to us on, on the sub, you know, sub two recently, sadly, these are coming outta the woodwork. I’d love to know if you’re getting these. And that is this older woman in Michigan. One of my students called and she couldn’t afford a $600 first payment, first mortgage in a $200 second. And she was only 3000 in arrays. And she begged us to take the home. And there was already 60 grand sitting there of equity. She just wanted relief. And when she heard that we help buyers get into homes. She said you’re it. And she’d been pounded by, you know, whole wholesalers and everybody else. So I don’t know if you getting a bunch of those on your end, probably too from post-COVID
Jay Conner
02:21:28
Out of the woodwork, Chris. Yeah. And quite frankly, maybe you have the answer. I don’t, I just know that I’m getting more subs to sellers. I’m getting more all-cash sellers. I’m just getting more all-sellers. And what’s so interesting about it in this market is, of course, all these sellers are coming from our marketing of off-market houses that are not in the multiple listing service. There’s no inventory right in the multiple listing service. So we’re buying a hundred percent of our houses from owners directly and we put it in the multiple listing service. If we’re cashing out, if we’re not selling on terms, it’s immediately gone. Have you got a, have you got a guess? Why now?
Chris Prefontaine
02:22:19
I think it’s a bit of a perfect storm in my opinion. Meaning a couple of things. No, no priority order here. One is rates are starting to go up. Okay. Well clearly and not everywhere yet. This is trickled down, but we are hearing from the community that there’s a bit of a panic cuz the buyers now tens of thousands, well hundreds of thousands have just kept pushed to the sideline. They can’t afford the house. They just get the rates. My son-in-law locked a rate of three now percent, 90 days ago, didn’t do that deal, and bought a house last week. And his rate lock is 5.3, five 90 days. You just kicked everyone out of the market. That was borderline. So then the, so demand has to come down. This isn’t like an opinion. So that’s one thing. The second thing is what you and I just said, a lot of these post COVID sadly are kind of coming up, whether it was forbearance or they, you know, had a job hiccup, whatever, there’s a lot of ripple effect from COVID all, all kinds of different rare. We’re hearing that. And yes, we’re seeing way more sub-twos coming to us.
Jay Conner
02:23:19
Yes. Same thing for me in any of your business models, Chris, do you use private money?
Chris Prefontaine
02:23:27
Very, very, very few times because friends, my accountant, my attorney they’ll call and say, Hey, I got this. Can you, can you do something with it? And, then what we’ll do is we’ll just get a little more aggressive and we’ll call ’em the same people. But it’s those people that if, if they had just 10 or 20 grand, for example, to use an example, you’d pick up, you know, 30, 40 grand in equity. Okay. I’m good with that all day long. But usually, we don’t, I don’t, I don’t teach that cause a new person to go out and raise money. I don’t wanna, I don’t teach that you do very well with that. I just don’t teach that. Do you know? So, we do it personally as a family team when there’s an opportunity available.
Jay Conner
02:24:03
Yeah. The way that I use private money when I’m not paying y’all cash. And of course, as you know, I buy a lot of houses, all cash with private money, but when I’m buying 25% of my deals creatively subject to the existing note, a lot of times I’ll use private money. And I’m sure you have too, I’ll use private money in the second position for a small amount of money, 20,000, 30,000 to either bring payments current. Or if there’s some light repair. And my definition of a light rehab is less than $10,000 is my definition. And then I’ll, I’ll use private money in that case. And then Chris, this question in this crazy market where it is a challenge to find deals on houses, what are your top three favorite ways today to find motivated sellers that are not in the multiple listing service?
Chris Prefontaine
02:25:08
Yeah, right this second, there are two that come to mind for rent by owners. They’re a little tired. We’re finding landlords with like one to 10 properties that are, that are just saying to us, I’m done. I’m all set. The second thing that comes to mind cuz it expired is starting to come back, but it’s not my hot one right now. The second one that I love is that I think personally, I love your opinion is tried and true always, which is absentee out-of-state owners in our And owners. state outta tea script is easy because we just nonchalantly say, you know, with all the craziness in the market and the chaos and post-COVID, we didn’t know if you had planned on selling, picking, picking up a lot of off-market properties from that simple list. And that’s always been a, really good list in my opinion.
Jay Conner
02:25:52
Yeah. I agree with you. My favorite list right now is out state absentee owners and high equity.
Chris Prefontaine
02:26:01
Yeah.
Jay Conner
02:26:02
Out-of-state absentee high equity. Why is that? Well, a lot of those people with that scenario are empty nesters or they are older people, and the property in a lot of cases has just gotten to the point where they’re done. They want to downsize, they don’t wanna deal with it. And for those particular people, outbound calling has been my best actual strategy to initiate a conversation because these people enjoy talking to you. Yeah. Cause they’re not talking to anybody else. Yeah. Yeah. I agree. Yeah. So anyway, that’s mine. So you got a lot of experience. You got over 30 years of experience. I’m gonna hit you from the broad side. So here comes the question, the biggest lesson learned and or biggest mistake made? If you knew then what you knew now, what would you have done differently?
Chris Prefontaine
02:27:06
Yeah, it has to be not to pour more salt in my wound, but it has to be, my experience with the OE crash. And that was signing on loans. It sounds simple, but I get calls from J weekly and I’m sure you do. And then, the call sounds like this, Chris, I, you know, I, this bank or the government loans would let me borrow this many times for this many houses cuz my credit’s good. So I, I can do that. Right. And I don’t, then I can do your method. And I say, not unless it’s your residence. So we just don’t do that anymore. And until you’ve lived it and, and, obviously you’ve gone through cycles like me, it’s hard for someone with great credit getting into real estate to understand no, don’t do that. And here’s why, so that’s my biggest mistake was gladly sharing my credit score and my signature and, and how we got out of it. Was we just, we just don’t do it anymore? It sparked this. You couldn’t have convinced me in oh eight. That, that was a good thing. But it was a great thing cuz it’s what sparked what we’ve built now.
Jay Conner
02:28:03
Oh absolutely. And you know, if you had not been through that experience, you wouldn’t be here. You wouldn’t be where you are today.
Chris Prefontaine
02:28:10
Never, never,
Jay Conner
02:28:11
You know, isn’t it amazing as painful as it is? Most of the growth always takes place in the valley.
Chris Prefontaine
02:28:21
No, there’s no question. And just for context for the listeners, I’m talking. When I said stressful, I’m talking IRS credit card companies, and a tow truck showing up at four 30 in the am. When I went to walk the dog, like you name it, it happened. And so that’s why we went to a one-bedroom apartment rebuilt and now I’m cash. Like there is no debt. So you can, you can do it. If you’re listening, you’ve got a challenge. You can do it.
Jay Conner
02:28:46
So Chris, what is it about your persona? What is it about your mindset? What is it about you personally that got you and gets you to push through? No matter what happens
Chris Prefontaine
02:29:03
Has to be the people I listen to like bar none people. I listen to you and I have some mutual contacts and friends and some of them are the very same people who said to me, that’s nothing. And here’s what you do. So reach up, reach up, reach up, speak to people that have been through cycles. If you speak with someone like JRI, you are gonna learn that it’s okay. There’s a waste to pivot with every single market it’s who you rub elbows with. And you can not underestimate that by, by, by any stretch of the imagination, don’t get caught with the what, what some, some podcast hosts have said to me, they call it new money, like since oh eight. And I know that’s a long time now for some it’s 13 or 14 years, but the fact is you’ve gotta be hanging out with the right people that have been through market cycles and even personal cycles too. And then you can lean on them, go lean on them and you don’t, don’t try to reinvent the wheel.
Jay Conner
02:29:58
Excellent advice, Chris. I know you’ve got a fantastic gift to give and what is that?
Chris Prefontaine
03:30:06
A whole bunch of stuff. So I, I, when people say we’re gonna give you out books, so we’re gonna give you this, just put your credit card in for, for, for free shipping, no need. Jay’s gonna provide links. You’re gonna get some cool gifts just for hearing us on the show today. And that’s gonna be the Amazon bestselling books and likely we’re throwing some other goodies for Jay’s tribe.
Jay Conner
03:30:28
Yeah. So here is the link folks. This is the link. The only link that you need to write down or listen to and take action on, go to www.JayConner.com/Chris again, that’s www.JayConner.com/Chris. And Chris and his team will send you his best-selling books. You don’t even have to pay shipping. I mean, it’s, it’s coming to you in the mail. Chris, take a second and give ’em just a taste of what they’re gonna get.
Chris Prefontaine
03:31:15
Yeah. So I’m, I’m from New England. So we kind of we’re blunt with, to the point we kind of, we’re very candid in the real estate on your terms book, it got revised during COVID. That was not planned. I wish I could tell you. I was that smart. I didn’t know that was coming. We were revising it. So we made it very, very COVID and post-COVID specific in what you should be doing. So that’s the hardcover hard copy book. And then there’s one called deal structure overtime where we rip pot deals, but we also kind of peel back the green current and show you the nuances, the good, the bad, the challenges where we messed up. And it goes into how you get these deals structured the right way to create some amazing three-payday deals.
Jay Conner
03:31:55
That’s awesome. There you have it folks. My good friend, my expert, and my brilliant real estate investing friend, Chris Prefontaine offer the very valuable training for free. You don’t even have to pay shipping again. Get it over at www.JayConner.com/Chris Chris, thank you so much for joining me on the show.
Chris Prefontaine
03:32:22
Thanks for having me. Jay was good to chat with you and I’m glad people could listen
Jay Conner
03:32:26
There you have it. Take action folks. Don’t miss out on this. There you have my friends, another episode of this show, I’m Jay Conner, The Private Money Authority wishing you all the best, and here’s the taking your business to the next level. We’ll see you right here at the next show.