Real Clients, Real Results
Hi guys, Now that I got back in the saddle with the right ways of doing things (your way, not my way) I got a couple deals knocked out. The first deal is for 136 Boardwalk, Bristol TN Price $179,000 Payday 1 will end up being $17900 (total down payment) Payday 2 is $2700 (36 months at $75) Payday 3 will be the good one as this is a Principal only Owner Finance deal. After 36 months payoff will be 103,000. $161,100-$103,000= $58,100 Total Deal $78,700 on a $140,000 house. The second deal that closed earlier in the month is 135 Belmont Selling Price is $189,000 Cost to take is $158,500. Payday 1 is $18,900 Payday 2 is $8280 (36 months at $230) Principal paydown is $10,440 (36 months at $290) Payday 3 total is $30,500+$10,440= $40,940 Total deal $68,120 currently. Thanks so much to everyone at Smart Real Estate Coach for all of the support and encouragement. Thanks again
Chris, I went to contract with this seller up on January 19, 2018 after he contacted us on Jan. 4 from a slybroadcast message we left him the day before. The sly broadcast methods learned through the Smart Real Estate Coach Expired Dialing Process and related training is something we do regularly now. They had the property on the market with a realtor/friend for the previous 6 months to no effect, and had withdrawn it at the suggestion of the realtor to wait out the winter months "when the buyers go underground." That's when we jumped and suggested we give it a shot for 90 days so they could see how wrong that advice was. I loved this deal because the existing mortgage had a principal pay down of $1,500 per month. Largely because of that, I agreed to pay his asking price of $640,000. On the buyer side, because the property was in an outlying exurb of Washington, DC, the traffic we got was sporadic, at best, though the house was beautiful in a well-established neighborhood of well-to-do homeowners. Eventually, a buyer I had been working with for several months prior called me after visiting my website and expressed interest in the home. He had enrolled with your suggested credit enhancement and screening company months prior to straighten out his credit and had been making great strides. The report came back that they would be mortgage-ready within 18-24 months. Long story short, with $40,000 he was able to put down ($20,000 up front and $20,000 over the term), the tenant buyer executed a lease/purchase agreement on April 10, about 80 days after I went to agreement with the seller contingent upon finding my buyer within 90 days. The tenant/buyer is moving from Ohio on June 1 and the sellers are happily packing up the house to move to a smaller and simpler home. The interesting part of the story is that the buyer signed a letter of intent from Ohio even before he saw the house in person. His decision was facilitated by the professional photos and video tour that I commissioned and posted on my website. I don't think we would have made the sale without it! The bottom line for us is over a 2-year lease period, our 3 paydays total almost $107,000. 5135 Allison Marshall Dr., Warrenton, VA
Chris, Here's a quick rundown of our most recent deal: Property 5 BR, 4.5 BA Colonial in a well-established, desirable community in Howard County, MD. Built in 2000, it contains close to 6,000 sf with a 3-car garage. Seller Situation The seller had listed it in July 2017 at $869,000. After several months and a price drop, the seller switched to the #1 real estate agent in Howard County at $850,000 in October. In December, at the recommendation of the realtor, the seller took it off the market for the winter, and that's when I contacted her through a Slybroadcast. She was intrigued by the fact that we are buyers not realtors so no commission aspect and the fact we'd be marketing to a larger segment of the buying public, and she agreed to accept $825,000 if we were successful in securing a tenant buyer (Payoff of mortgage plus $71,000 cash) Deal Structure This was a sandwich lease, 2 year term 1st Payday 7.5% of purchase price, or $65,000 2nd Payday We pay Seller $4,285 per month, we collect $4,503 rent per month or $218 per month x 24 months = $5,232 3rd Payday None, as we're collecting everything up front and scheduled payments in Payday 1 In summary, we sell for $869,900, our costs mortgage payoff is $816,000, so profit is $53,900 + cash flow of $5,232 = $59,132 total profit.
Here is my third deal that sold, which is so crazy to say since I started with ZERO real estate experience! This home ended up having multiple buyers interested which created a bidding war. We went with the qualified buyer with the highest down payment which was $80,000 over 3 separate payments in 6 months!! So we are basically getting all our profit on this home up front! I am so excited for whats ahead, and look forward to hitting my goals that I planned for in 2018! This couldn't have been done without your help Chris, you and the Smart Real Estate family have been by my side and have helped build my confidence to feel like a seasoned RE veteran. Here's the $$$ breakdown: Sandwich Lease 48 month term Purchase Price = $354,000 Sale Price = $389,900 Pay Day 1: $21,680 (deposit) + $2725 (1st months rent) = $24,405 Buyers 2nd and 3rd deposit payment $29,160 x 2 = $58,320 Pay Day 2: $14,880 ($310 spread x 48 months) Pay Day 3: $35,900 + $28,560 approx pay down over 48 months Total Profit = $82,065
Hi Chris, 2018 couldn't have started any better!! Not only did I close two deals this month, my wife and I had our first baby!! Both homes were on the market for about the same time (about 60 days) with the holiday season slowing down interest for about a month. Right after new years my phone wouldn't stop ringing on both homes! This was the best feeling because I knew it was just a matter of time. Chris and his family were there whenever I needed them, on whatever question and issue that came up during both transactions. Here is the breakdown of my second home: Sandwich Lease based off 48 month term Purchase Price = $455,000 Sale Price = $489,900 Payday 1: $14,697 + $500 + $2995 = $18,192 Buyer agreed to put down 10% over time, 3% up front $500 per month extra towards down payment. Plus 1st months rent of $2995. Pay day 2: $16,320 ($340 spread x 48 months) Pay day 3: $34,900 + $24,000 approx. pay down over 48 mo. Total Profit = $78,215
Hello Chris It was a pure pleasure spending some time with you. One feedback received after you left from Kelly (male) was that he has been in the business a long time and is starting all over again. He rarely needs to take pictures of any presentations and he did it several times with you. You left the more seasoned person leaving with something and gave something for the newbee to try to reach. He really liked what you had to say and stated that you really know your business. Kudos!!!
We did it! We signed today :-). I'm sure you and Chris could have tied it up in a better package, but I'm really proud of ourselves! We went to the property on our own (thanks of being available by phone on the way!) and got the home under agreement. I also think its a GREAT testament to QLS and membership that with no experience, I managed to have an idea of what I was doing and signed a property within 6 weeks of making calls! Clearly being at the QLS event didn't hurt and I look forward to next year- Thanks again! Hopefully ill get it sold soon! TY!
Denis Rossie Brunicardi, Northboro, MA
Thanks for the quick call yesterday! "As I mentioned on the call, just the one technique you helped me with of lowering the rent to an amount not including the taxes in and of itself has led to a large amount of activity on some of my properties. Last week I had a home tour and about 18 different prospective buyers showed up! Tonight I’m hosting another and currently I have 17 different people scheduled to come to the one hour tour!…. and I haven’t even sent out a text blast to everyone else who inquired on the property yet! Yesterday I took a $1,000 deposit and had the buyer LOI & receipt agreement endorsed by buyers for this same property! Got them to commit to over $20k down during the lease term! So, tonight I get to have one more chance to see if I can find a better buyer! Love the program, the QLS and membership site have been invaluable in giving me those last few pieces of the puzzle I needed…. can’t wait to see what happens as we roll more systems out!" Thanks again for your time!
New Jersey, New York
I want to thank you and the entire Smart Real Estate Coach team for helping me complete my first sale! We had a short time frame to get this property sold, and with your teams help we were able to accomplish a VERY profitable deal within 4 weeks! Every obstacle I ran into, you and your team were there to help. I could not thank you enough, and can't wait to get my next deal!"
Here are the details:
Buy: Purchase Price - $365,000 $1820 per month 24 month lease
Sell: Selling Price - $399,900 $2150 per month 24 month term
Profit Pay day Totals: Pay Day 1 - $12,000 deposit Pay Day 2 - $7,920 ($330 monthly spread x 24 mo.) Pay Day 3 - $48,820 ($25,920 principle pay down + $34,900 back end - $12,000 deposit)
Total Profit = $68,740
Mike & Tiffany Makredes, Married, New Dad
“Real Estate on Your Terms is filled with practical, workable methods for anyone wanting to build consistent sustainable cash flow and long-term wealth. Chris Prefontaine lays out a simple plan and implements a specific system that, when put into action, will be very profitable for novice and experienced investors alike.
I've experienced first-hand the value of Chris's methods in action through his mentoring and closing highly profitable deals. If you’re looking for results, Real Estate on Your Terms is packed full of proven techniques and I would encourage anyone looking for financial freedom to read Chris’s book.”
Don Strickland, Owner, Structure Property Solutions
"I have just returned from an amazing 2 day visit with the team at the Smart Real Estate Coach office. As I told Chris after the 2016 QLS Live Event, “Once again, you actually got me to sit still for extended periods of time!” That’s how fascinating the whole experience was.
That said, I must admit that the planned sequence was well-done such that I rotated into a different environment with different members of the team comfortably.
My main takeaways:
- An excellent learning experience while they remained productive. I shadowed everyone in their workspace/job…all of which I need to be able to do myself. I found it extremely motivating to further understand both the mechanics and the psychology of the calls.
- The sheer volume of phone/email “touches” that Chris, Nick and Zach make in a day is mind-boggling. No wonder they do as many deals as they do. While I’ve been hearing it for months, to actually see it happening was, for me, a real eye-opener. Deals for themselves and for the Associates were getting started right before my eyes. I get it!
- There were SO SO many little tweaks and tidbits that I had never done, thought of or was unaware of as they adapted to each individual buyer or seller situation on the spot. Fine tuning. Working with it. Big picture. I get it about transaction engineering!
- I sorely needed some guidance and modeling re: the physical setup of my office. Kayla showed me her systems for the large number of active properties with the various types of formats all organized. She showed me how each file is organized the same with a primary checklist stapled to the outside. Etc etc! I already have made changes in the last 2 days that make my office feel so much more efficient and relaxed…with more to come.
- On the 2nd day, my house viewing trip with Zach was still more education. I have done several of these myself. The situations the sellers were in and their homes were very diverse. Zach adapted and spent as much or as little time as necessary to get the jobs of evaluation and rapport done.
The Prefontaine hospitality cannot go unmentioned. My quarters were excellent and we were able to relax and enjoy each other, including delightful "matriarch” Kim, with a fine dining experience.
My 4 biggest “aha’s” (so late we get so smart): 1. Focus solely on revenue-producing activities. 2. This can be much simpler if you just follow the protocols/sequences/concepts, whatever you want to call them. 3. Yes, establish rapport. But do not take anything personally. 4. The team is there to support you. Use them!
All of which can lead to a more balanced lifestyle and greater, real wealth.
Thank you Chris, Kim, Kayla, Nick and Zach."
"Just want to give a shout out to Chris and his team once again on another successful deal. Seller came from yellow letter returned mail expired after a year on MLS. They agreed to sell for full asking price from original listing on terms owner finance. After marketing, 30 days later we found a buyer and assigned our terms over to them for a fee. There were a few hiccups with seller wanting to back out but chris convinced them after a few phone calls and some verbiage changed on the contract for their comfort level. We will be closing in next 2 weeks.. Here are the numbers. Purchase price $559k $1500 principle payments for 48 months
Sold those terms for assignment of $52k. Buyer very happy.
Thank you again chris for all the help. Not a bad check. Total time invested including 2 trips to home and phone time approx 24 hrs. On to the next one."
"Chris, here is another deal, my 3rd actually which is about to be sold this week so two in one week. Not bad for a rookie.
This deal was my neighbors first house that has been vacant for a couple of years and they were just looking to get rid of it. It’s an old farm house that was updated with a few additions, about 2,600 sq. ft. on 3 acres. They had trouble with selling through a Realtor and on their own. It took several discussions as they could not decide whether they wanted us to stay in the deal or assign back to them. I told them we could get an agreement signed and I’ll put it out on the market to see what we get for buyers and they could decide from there. Within a week I had 32 phones calls and about a dozen or so emails. There were 3 buyers that I spoke with that were serious, one showing, and now we are setting up the buyers meeting after Thanksgiving. I didn’t even get a chance to get back to all the other buyers as we found a good strong buyer with some decent cash and will allow us to collect our entire AO fee in about 18 months or less. The kicker here is that we are keeping 100% of the deposit versus sharing with the seller.
Here are the details for this AO. Purchase Price - $210,000 Sales Price - $249,900 Payday #1 - $41,100 all total - $10K by 12/9 deposit plus first month’s rent ($1,100) - $5k on 3/3017 - $5k on 6/30/17 - $5k on 9/30/17 - $5k on 12/30/17 - $5k on 3/30/17 - $5k on 6/30/17
Total profit is $41K Thanks again for all the help and support. It’s greatly appreciated."
"Chris, I just wanted to drop a note to thank you and your family/Team for the great Event this past weekend. It was great to see you and your Team as well as all of the new and returning Associates. The 3 days were full of great information that is sure to help in our business going forward. The real takeaway from the weekend was seeing clearly how there's a well oiled machine in place and we, as partners, have the ability to leverage your experience, your resources, your knowledge of the industry and the systems that you've put in place. There's no reason to feel like we have to re-invent the wheel. In addition to the value brought by you and your Team, the speakers also brought a wealth of information to the Event. Learning more about our business from professionals in the areas of credit, accounting, estate planning, mortgages and real estate law was very helpful and tied in very nicely to our current and future business plans". Thanks again and we look forward to using what we've learned as we build toward next year's event!
Sean and Danielle Ha
“I've known Chris since freshman year of college when he used to go home on weekends to work in his family business. He was unbelievably focused and disciplined at age 18, balancing work, spending time with Kim, and getting his schoolwork done. He was like a 30-year-old businessman living amongst a bunch of partying college kids. He hasn't changed. He is the most driven and focused person I know! If you are interested in any aspect of the real estate business I would highly recommend working with and learning from Chris. Learn from his tremendous knowledge and experience and put yourself in the best position to succeed!”
Robert E. Romano, estate planning attorney and real estate investor
“Whenever you can learn from mistakes, hardships, and tragedies of others, you might want to take notes. In Chris Prefontaine's book, Real Estate on Your Terms, it is an opportunity to advance. From ‘lease options’ to ‘forced profits’ the strategies in this book are quite capable of setting one free. The question is, what do you do when life happens? Chris is a fine example of persistence and resilience. We can all stand a refresher course in that. I highly recommend you read Real Estate on your Terms.”
“In his book Chris tells a compelling story on how to invest in real estate with less risk and better cash flow than the conventional process of buy and hold or property flips. If, like many, you are concerned with the risks of investing in the stock market or regular real estate, this book could change your perspective—a worthy read."
Paul Dion, CPA, CTC
“An outstanding resource for anyone who wants to have success in the world of real estate investing and move onward to that next level. Chris shares his real-world perspectives gained from over twenty-five years of experience as a practitioner, investor, and industry expert. Chris has coached more than thirty thousand people and has been part of $75 million worth of deals. And now in this book, Chris masterfully dissects the nine steps you need in order to become your own master transaction engineer. This is quite a masterpiece and is well needed in the marketplace. You will do deals after reading Chris's book.”
Stephen Woessner, CEO of Predictive ROI and host of the top-rated Onward Nation podcast
“Chris has been a client and friend for close to twenty years and a business partner for ten years. We own a building in Illinois together. I’m also an investor of Chris’s all stemming from him coming to interview our law firm when he moved to the area in 2004. One of the most disciplined and hardest working people I know, he is the ultimate entrepreneur. The advice in his book comes from years of hard-won, practical experience. Pay attention and never give up.”
Richard Sayer, Esq., Sayer Regan & Thayer Newport, RI
“I’ve known Chris Prefontaine since grade school. He knows his stuff and has a knack for encouraging while educating people. He was a mentor to me and helped increase my residual income.”
Darren LaCroix, CSP, AS, 2001 World Champion of Public Speaking
“Chris Prefontaine is an amazing entrepreneur and a man for which I have tremendous respect. I have had the pleasure of working with him over the past fifteen years. He is a man of integrity, and he seeks to help others and build relationships that last. This book is eye opening, and Chris describes what he knows best … teaching others how to win. I highly recommend this book and hope that you will take his lesson and message to heart.”
Joseph Land, JL Capital Group, LLC
"Hey Chris and team. Another deal where we secured a buyer this week on a nice home in the country. Want to thank all for the help and support to make this happen. This one took a little longer as it was a one of the nicer homes in the area and had some land with a pond in the back. This was a lease purchase and the seller was looking to move closer to their parents’ house and the home was vacant for about 3 months."
The numbers are as follows
Buy: $250,000 $1,750 / month 24 month term
Sell: $274,900 $1,950 / month 24 month term
Profit Summary Payday 1: $17,500 Payday 2: $4,800 Payday 3: $17,000 ($7,400 back end + $9,600 principle pay down) Payday 4: $15,000 (Negotiated additional $15k price reduction with seller) Payday 5: $5,000 (Negotiated additional 12 month term – 3 years total with seller to gain more principle and possibly gain more value / higher price if buyer needs additional time)
Total Profit = $59,300
Want to thank you and the team for all the support and guidance. I’ll take profits like these all day long. Your recent visit here with me sparked a lot of creative methods that will add tremendous value and profit centers in future deals and looking forward to many more. Little tweaks here and there adds up to thousands of dollars."
Don Strickland Structure Property Solutions
"......but thank you all for a wonderful visit! We both got so much from our time with you and I feel we're well prepared to meet and exceed the goals we laid out during our time with you. A few individual shout-outs are in order:
Kayla - thank you for showing us the possibility of order amidst chaos. Your systems will be copied and slavishly followed and hopefully allow us to spend more time making seller calls and less time fussing with the daily minutiae. I can't wait to replicate "Kayla's Corner" in my own office!
Nick - thank you for taking us on a tour of a previously-ignored world, the Universe of Buyers. The way you guide Buyers to discover new ways to increase their non-refundable deposits is inspirational and will serve us well as we start to deal with our future tenant buyers. One word of caution: better start gearing up for D.C., because we'll need you very soon!
Zach: thank you for teaching me the art of "dispassionate passion" when dealing with Seller leads. Seriously, in spite of my multiple pit stops and incessant whining about being in a car for so long, our day yesterday was invaluable, and I truly appreciate your guidance and the solid lessons along the way. Looking forward to your assistance in helping us to close "Emma" on Saturday.
Chris: I can't tell you how happy I am with my decision to join your team. You have done an outstanding job of building a team and a business that will continue to grow and thrive, and I'm delighted to be part of it. You inspire me to greatness and I promise I won't let you down."
Dear Chris, Kim, Zach, Nick and Kayla:
"I would like to thank you for the wonderful office visit I had yesterday. Thank you for your warm welcome! Everything was perfect from hotel stay (thank you for the welcome gift at check in) to a wonderful dinner on the water. I enjoyed great conversation, chatting and getting to know everyone. Also it was so nice meeting Kim, the backbone of a successful business man
I am so impressed with your efficiency and system you have going. I still don’t know what you do to help all 20+ partners around the country but you do it and do it so well!
It is also so great for me to see the team is so close, you have a great tight family, which understandably is one of the reasons helps your business so successful, now helping others like myself to reach success as well.
I am very happy and thankful to be part of your team. You have already helped me so much already in the first 2 months without your coaching and encouragement I would not be where I am here already.
Looking forward to my first deal very soon and many more to come!"
"Signing up and joining the Associate program with Chris and his family was the best decision I could have made. No other REI program out there will give you such a hands on coaching team to help you through the learning process.
Being a Associate has given me the opportunity to go out to Newport, RI where Chris and his family have their office. Seeing how everything is set up and how its being ran in person, confirmed that what Chris is teaching is exactly what he and his family are doing on a day to day basis. It also gave me that much more confidence that I can do this back home in California, and be financially successful in my own right.
As a High 6 partner, Chris came out personally to my city for three days. Working everyday one on one putting together deals, going over individual planned strategies for my business, and even going on appointments with sellers and buyers. Having him there with you and seeing how he interacts on the phone and in person, in your market, was such a great priceless learning experience that you won't get with any other REI coaching program.
I highly recommend Chris Prefontaine and his program to anyone who is looking for the education, and an experienced mentor to help get them out of the rat race and on the right path to financial freedom."
"Yet another deal accepted this week. This was the same seller that we closed on her other property at 1622 Dittmer cir in Palm Bay. This property is tenant occupied with tenancy ending end of July. She was selling for $180k, I bought her down to $172k with no money down on a Lease Purchase and will be converting to Owner Finance, with $850 per month principle only payments for 48 months. Tenants currently are paying $1300 per month. Numbers are as follows"
• Taken as follows: • $172k • payments $850 mth principle payments
If goes through full 36 month term: then profit as follows
• Sell for $224k • PMT: $1500 mth • Cash Flow: $23,400 for 36 mth • Down Payment: $10-15k • Back end profit: $75,500 • Total profit: Approx $116k total for all 3 pay days.
"In the next 2-3 years I'll have almost $200k profit just from 2 deals not even including the other one we have. Can't wait to get more under my belt."
"Once Again another successful closing to happen next week. Only took approx 30 days from contract to close. Originally contracted with owner for $175k with $4k down, but after finding out tenant/buyer was going to have less of a down payment coming in I was able to negotiate no money down and just increase the price by $180k. Here is the break down." BUY: Purchase price: $180k Owner Finance for 48 month term Outgoing Payment: $1000 month principle payments only SELL: Sale Price: $223k Incoming Payment: $1650 mth Payday #1 - down payment: $6000 Additional Payday #1 - extra payment: $300 mth for 7 months Additional Payday #1: down payment through the next 2 years of $8k 2018 and $8k 2019
Total down throughout term: $24,100 Payday #2: Cash flow every month: approx $500x36=$18k Payday #3: Back end profit after sale: $67k Total profits approx $109,000
"Hi my name is Sal, I was an investor in the good old days of 2004-2007 until everything blew up. I took a break for a while until now. I have dozens of books, courses, watched webinars, videos, and been to many bootcamp seminars, I have spent tens of thousands.
When I saw Chris and how he ran his real estate investing business I knew that he had what I needed to get back on my feet and into the investing business again. His QLS course is spot on. He breaks down exactly what you need to succeed and how the terms investing really works step by step. I have a lot of courses and his by far surpasses all of them. if you are a new investor and want to learn the true way of buying and selling on terms then this course is a must watch.
if you are an old time investor like I was then this will add to your ways of investing and teach you new techniques. But what is even better is how he shows you a system to do multiple deals and not get stuck doing one at a time. I just signed up as a Associate and I have accomplished more in 1 month then I have tried doing it my old way in the last 9 months. Thanks Chris and team! looking forward to doing many many deals together."
Sal Barrera – Married, Father
"We utilized the 6-Month Coaching option as we were already doing deals and were looking to make adjustments for growth. Chris Prefontaine truly is "the Smart Real Estate Coach". This guy brings a great level of personal professionalism and understanding to the table when dealing with new coaching students and associates. He is upbeat and energetic, plus always positive and cuts out the fluff to get straight to business in the friendliest manner possible. Our team is looking forward to continuing our relationship with Chris and his family to create a stronger bond that will allow us to constantly improve ourselves and our business so we can do fantastical things in this world."
Sincerely, Perfect Home Buyers.
Brian - Perfect Home Buyers
"Here is my second deal sold this week as I write this and 3rd deal since working with you, I just met the buyers today for a meeting to collect their $1,000 binder on a $500K dollar house where we are looking to close on December 9 and the profits are Huge!
This house was free and clear, 2,800 sq. ft., Solar energy fed, and on 30 acres of land and the seller was looking to move to Texas to be closer to his kids. He had trouble selling and did not like the offers he was given as he was looking to get around $400K and was willing to subdivide the land to keep it in clean and green and in Pennsylvania, that just means lower property taxes. Time was on our site as he wanted to get moving with the winter and Holidays approaching.
I contacted the seller and he was willing to do terms and just needed to understand the details. So I asked Chris to follow up to see if we could do something with the land and / or get this under agreement. After many conversations Chris had with the seller, he did not want a lease purchase in case something happened while he was in Texas so we agreed to owner financing principle only payments and to cash out in 24 months. We had it re-surveyed and kept 10.25 acres of land for a purchase price of $420,000 because he actually was happier that we didn’t want all the land to develop. When Chris called him he was going to go the subdivide and develop route or single lot with home- whichever the seller wanted as he was getting calls from developers and preferred the family compound around it NOT be developed.
Long story short here, Chris worked with the seller over a few phone and email conversations on a somewhat creative custom deal where we would purchase and NOT contingent on finding a buyer within a 2 month timeframe. The seller was wanting to join their family in Texas and be moved by Thanksgiving. I was not a big fan of this being new to the game but trusted Chris and team in addition to PA has a 2% transfer tax cost as well and I didn’t know how we’d pull that off. I was little nervous with taking this leap and trusted Chris and team and texted him one day letting him know that I didn’t want to get caught with my pants down and come out of pocket with all that cash if we don’t find a buyer. He said, deep breath, then you just pull them back up… We’ll find a buyer. So here we are, with a solid buyer that will cash us out in 24 months. We have the buyer set up to sign with our attorney the same day as the purchase on our end on 12/9/16.
As we were marketing this house, Chris had mentioned that he and his team could help with the buyers with their Buyer Done-For-Your Service that his son Nick runs for the team and allow me to focus on the seller side and getting ramped up to add an assistant or some family help to train of my own. I agreed which was a great help and added to the success in getting the deal done within the timeframe for the seller to leave town. It was a win-win and well worth the time and very little effort for such a big payday and his team basically delivered a buyer 100% done and ready to meet me to give the binder."
Here are the details about the deal. Purchase Price - $420,000 Sales Price - $499,900 Monthly Payment to Seller - $1,540 (100% Principle pay down) Monthly Payment from Buyer - $2,100 Payday #1 - $64K all total deposits Payday #2 - $13K roughly depending upon cash out date Payday #3 - $52K ($79k back end plus $37K principle paydown minus $64K deposit)
Total profit is $129K (Cha Ching!!) "I couldn’t thank Chris and team enough for the mentoring, guidance, phone calls, texts, etc. Overall, if you are on the fence about getting a mentor / partner to help you succeed in this business, you won’t find a more dedicated and honest group of people to work with. I know, I’ve spent 10’s of thousands of dollar working with other gurus and folks over the years with little to no deals. Chris and his team are the real deal and are available every day. The three deals with them so far netted us $66,000, $129,000 and $41,000. See the simple $41,000 below.
Thanks again and looking to more profitable deals. I’m loving the $236,000 pay day with you in 3 deals!"
Don S in Pa
"Hi Chris, Today is a happy day. I just placed a tenant buyer into my first property. It has been a lesson in patience and perseverance.
The house was acquired by a Lease/Purchase for what was owed for a term of 36 months. We sold to a strong tenant buyer moving in with a projected time frame to mortgage-readiness of 12-18 months. Throughout the 3 months it took to find the right tenant buyer, Nick and the Team were extremely patient and supportive as we weeded through dozens of applicants. I never felt alone in the process and certainly have learned a LOT. And when it came time to seal the deal, Kayla was right there for me.
Thanks to all of you for your ongoing support, education and motivation."
Here are the details: Purchase Price: $160,440 Sale Price: 189,900 Payday #1 Total: 10,500 At signing: 7,138 (5,700 + $100 DP + 1st month rent of $1,338) Monthly Additional: 1,800 (100 x 17 months) Feb 2017: 1,500 Feb 2018: 1,500 Payday #2: 5,365 ($298 spread x 18 months) Payday #3: ~30,000 + principle pay down for 18 months Total Profit: ~$45,865
"Great stuff. I’m looking forward to many more deals with you as partners."
"I joined the Associates In April of 2016. I spoke with Chris & Team and developed a game plan. During the next few months I received a referral from Chris and Nick on a few properties in Florida which is my home town coincidentally. I made an appointment with the seller and she was relocating and one of the tenants on her second home was vacating. She agreed to sell the property for what she owed (subject to) with the stipulation that she received $2k on each property.
We started marketing the property and received tons of interest. Both properties needed some work(cosmetics only). After a few months we obtained a tenant buyer who agreed to fix up the property while they lived there. We had a buyers meeting and wrapped up that property 30 days after the meeting. The numbers were fantastic. We locked it up for $68k with the seller plus the $2k to her at closing, mortgage PITI were $630 per month.
We sold it to the tenant buyer for $124k payments of $1400 for 6 months and $1200 thereafter, with a total of $15k down payment over the 24 month term of which $1400 plus first month rent was collected with our attorney at the signing. We used tenant buyers money to close on this deal and our next piece of Payday #1 will be $8k. Plus another $3k on both tax days 2017 and 2018. Total profits with down payment, cash flow and back end cash out is close to $75k. Not a bad payout. Chris and his team were excellent. They were only a phone call or email away and walked me through all the steps. The other home will be closing soon in next few months for another profit of $18k. That one we will wholesale to a cash buyer who already wants it. Looking forward to many more deals."
Sergio O - Orlando, Florida
"Hi Chris. Wow! Just received my first lease purchase check (attached) doing a deal other than with one of my own properties and it’s been mostly with your help, guidance, and continued support.
It’s been awhile for me as I started playing around with Real Estate back in the 90’s. I’ve been in the corporate world for many years as an engineering manager working in Telecommunications but was always looking for something more. With many seminars under my belt and businesses I’ve looked at, I always like the benefits of Real Estate and what it could offer. After a few failed attempts with some mentors along the way, I did not like how things were structured with only a few emails to many emails and / or a 30 minute call, etc., etc. This plan did not fit with what I was looking for and over the years as my kids were getting older I wanted to find something …… a true partner so to speak that I could work with and a business to emulate where my kids could get involved, create their own life and incomes, and take it to the next level with me and not be tied to a corporate job.
Well, after many months of searching, calling several other gurus and discussing their systems and business plans, I found you and your team ( family). We had a discussion of what I was looking for and how to get there, and shortly thereafter, I signed up for full coaching. I jumped in not knowing what I was doing with some seller calls but I thought; what’s the worst that’s going to happen? They’ll say no and hang up. No big deal. It was quite the contrary as many of the sellers were very pleasant to talk to and your scripts, videos, etc. on your website helped tremendously on how to handle all the situations and objections which there were very few if any. As I moved forward with learning the process and systems, I was at a point with working, coaching, kids sporting events, etc.,
I needed help and had to do something different. I discussed with Chris about the Associates that made more sense in my situation until I was fully up to speed on all fronts and could either get family involved or had enough money to hire an assistant. I like the idea of doing it all myself at first to learn all aspects of the business and to be able to manage it but I’m at a point where the administrative things are slowing me down and I’m not doing what I need to be doing which is getting agreements signed and cashing checks. Now that I have the first deal under my belt and a very nice payout, my wife is jumping in to help and my kids have been going on some appointments with me listening and learning.
On average I spend about 8-10 hours per week by myself and spend about $400 to $500 / month total running this business. You can see that my first sandwich deal is cash flowing below and I have two more under agreement as we speak. At this rate, I’m looking to do at least 1 deal per month and planning on 2 per month very shortly. Below are some details on my first deal. If someone would have told me that I could make over $66k on a $130K house, I would have told them their crazy!
Free and Clear House (24 month Term) Purchase Price: $129,500 Sold (lease purchase): $149,500 Down Payment: $4,500 (Plus 2 month’s rent…..1,523 & 1,588) Additional Down Pmt $3,000 (due in Feb 2017) $2,000 (due in Feb 2018) Payment to Seller: $1,000 / month ( principle pay down) Payment from Buyer: $1,400 / month ($400 / month cash flow) Total Profit $20K – price spread $24K – principle pay down $9,500 – total deposit $400x 24 months spread= $10,000 $3,111 – 2 month’s rent $66,611 Profit
In summary, I would like to thank you Chris for all your mentoring, patience, follow up, availability, etc., etc. Without your help and your team, this would not have happened as quick as it did and more than likely, I would have made a mess and some costly mistakes. I have much more to learn and grow but feel that I have a good grasp of what needs to be done and the processes that follow. You’ve been a tremendous help and a true partner and I can’t thank you and your family enough. I look forward to many more profitable deals and to emulate what you have setup with my family as well. Thanks again,"
Don S, Dallas Pa.
It was absolutely amazing to be part of your team for a day. It motivated me to push forward on my business and adopt many of the strategies we discussed. Nick, Kayla and Zach were great and now I understand why you are able to close so many deals on a monthly basis: You got a rock solid team! I look forward to the 10/1 event where I'm sure will be a lot more to learn, and network with other investors, attorneys and guest speakers."
"I asked for and received a ten percent down payment (15,000) the monthly lease amount is 1400 and the contract is for two years. I bought this house originally to flip. I paid 75,000 and I put in around 25 to fix it up. The purchase price is 149,900 so by the end of the deal, I will have made 50 grand over two years, plus 24 for the lease payments so over $83,000 in income all total. Not too bad!...and all this while only accessing the membership area - super, super helpful!"
We have been in two Master Mind groups with Chris and have already registered for the next one coming up. The knowledge, support, and encouragement we receive from being a part of this group are truly invaluable and have helped us so much in our business. It's great to have the opportunity to talk with other people who are going through some of the same challenges and successes that we are, and it gives us a sense of camaraderie. Chris is amazing and answers our questions and gives us education and suggestions during our group discussions. He is also in the trenches every day doing this business and also has many years of experience in real estate, and he selflessly shares with us the lessons and victories he experiences in his own business for the benefit of helping us. The expertise and guidance he provides is something you can't put a price on. We are also in Chris' one-on-one coaching and would highly recommend that as well. We just got four properties under contract in 9 days thanks to Chris' help and support. We would highly recommend Chris' coaching and Master Mind groups and are so thankful to be a part of them. We can't wait to see what the future holds!
Jeff and Tami Surridge
"Dear Chris, I very much appreciated your taking the time to make your presentation Thursday night. I’m sure it was the end of a very long day for you.
The feedback I received indicated that you were clearly knowledgeable and in the real world doing the very deals you described. Your presentation maintained interest with stories, and there was good audience participation throughout. I feel the listeners had gained some insights in to a way of doing real estate practiced by almost no on here in R.I. and you made available some very valuable tools for implementing your strategies.
In short, I was delighted you made the presentation. We’ll be adding your webpage to our list of links. Based upon the experience of other speakers I think you will see some business coming from our group. With sincere thanks,"
"My name is Sean Hannigan. I’ve been a police officer for the past 19 years in the suburbs of Philadelphia. In April of 2015, I was looking for an eventual exit strategy from the police force and a post retirement business plan. I had an interest in real estate investing and I knew from prior business experience with Chris Prefontaine that Chris had a wealth of experience in the real estate industry. In April 2015, I started in a coaching program with Chris personally.
Chris helped me connect with a virtual assistant to quickly develop a steady flow of leads for me to speak with. Within the first 100 leads, I had several promising conversations and by the end of June 2015, I had my first signed agreement for a sandwich lease deal. The deal could not have gone any smoother. The deal came in to me from a For Sale By Owner lead via my Virtual Assistant – I didn’t even have to call at first! I had a brief conversation with the seller who indicated a strong desire to get out of her mortgage and who was open to different options to accomplish that goal. I emailed that recorded call to Chris. I emailed the seller with a summary of how I could help her and Chris followed up with a phone call to answer any questions that the seller had. Within 1 week from that call, I visited the home and left with a signed agreement.
Without Chris’ coaching, the process would probably have seemed overwhelming but in working with Chris, you learn to relate to people’s needs and be system driven from a business perspective. It also helps that I’ll pocket roughly $10,000 up front, $700 per month net income for 48 months and another $20,000 or so when cashed out – I think that makes my coaching investment return approximately 5x what I spent – not bad!!!"
"Good morning, Chris,
It has been a long haul but thanks to your guidance, amazing PATIENCE, and continuous education efforts, I am now doing deals with Sellers! I contracted with one yesterday and have another scheduled for this week. A third just called me last evening and is eager to sell to me as soon a possible. And I already have 2 scheduled for September.
I am one of the many who have spent 10’s of thousands of dollars over the past year searching elsewhere for the right mentor and system to enable me to invest and profit in the real estate field. My total success prior to connecting with you was exactly one wholesale deal that netted $4,000. The one we bought Saturday (thanks for being available on the phone for us - those live calls help a lot!) has a monthly spread (pay day #2) of $305, a back end of approximately $29,000 (pay day #3) and an up front of $10,000 (pay day #1) -that's $49,980 with all three pay days- yeah!
I bless the day I saw your video that encouraged me to just sign up for membership a month at a time. Within 2 months, I saw the value of committing to the JV program and have never looked back.
I am retired and lost a lot of money in the stock market…twice! This field is so much more hands-on than the market and, as you have taught and demonstrated to me frequently through your own investing success, well within my ability to succeed and regain my former lifestyle on my own terms.
I now believe that I have a functional and still-growing knowledge base that enables me to proceed with Terms investing. Further, as a Associates, I have the incredible availability and support of you and your family with all aspects of each deal and its variables. The weekly mastermind calls, the videos and audios on the website and the very complete and well-written transaction documents as well as marketing and follow-up documents make the actual processes crystal clear.
I am particularly grateful for your willingness to deal with non-technical aspects of our partnership and the business, resulting in new-found confidence with seller calls (big deal!), efficiency and creativity. I’ve gone from being a glorified assistant for myself, practicing “creative procrastination”, to getting out there are making the necessary calls and contacts to create deals. It makes this fun and really, quite exciting!
Thank you and your family so much for being willing to share your knowledge, time and energy with me and with the other partners/students. See you at the 10/1 event - You are changing lives!"
Hi Chris, I went through a lot of your new material posted today and want to thank you for it! I really needed and appreciate the Getting Started video as well as Nick’s info on the internal checklists and marketing to buyers and your latest re: my business plan for 2016. The membership area is quite amazing! I also didn’t realize as a Associate I could ask Nick and others on your team some of my questions.
"Hi Chris, Great call today, got lost of great nuggets! By the way I forgot to mention that the deals I got this week were are as a result of emailing your lease purchase explanation to the sellers, who then called me back and said yes."
"Thanks for being such a great coach and a very nice person. It is so hard to meet someone who has achieved what you have and not let the money go to your head. You care about others. I think you’re a great guy and I have learned a lot from you. Whatever it takes!!"
"I'm a social worker by training and have only a small amount of experience in real estate investment. Chris turned out to be the perfect mentor for me, as he takes me step by step through the many processes that he knows so well. Even my most basic questions are taken seriously and I always feel like I'm getting traction and making headway week after week.
I'm not floundering anymore by aimlessly and endlessly searching through real estate investment websites or other types of coaching that don't have anything to do with my goals. I now have solid plans and objectives that I am continuously meeting as long as I show up and do the work. Chris encourages me to take steps on my own when I am ready but is always there with a helping hand for when I'm unsure of what to do next.
I would highly recommend coaching and mentoring with Chris Prefontaine whether you are a beginner or have many years in the field. He has a wealth of knowledge to share and is always happy to impart it."
Every effort has been made to accurately represent this product and it’s potential. Even though this industry is one of the few where one can write their own check in terms of earnings, there is no guarantee that you will earn any money using the techniques and ideas in these materials. Examples in these materials are not to be interpreted as a promise or guarantee of earnings. Earning potential is entirely dependent on the person using our product, ideas and techniques. We do not purport this as a “get rich scheme.” Any claims made of actual earnings or examples of actual results can be verified upon request. Your level of success in attaining the results claimed in our materials depends on the time you devote to the program, ideas and techniques mentioned, your finances, knowledge and various skills. Since these factors differ according to individuals, we cannot guarantee your success or income level. Nor are we responsible for any of your actions. Materials in our product and our website may contain information that includes or is based upon forward-looking statements within the meaning of the securities litigation reform act of 1995. Forward-looking statements give our expectations or forecasts of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. They use words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” and other words and terms of similar meaning in connection with a description of potential earnings or financial performance. Any and all forward looking statements here or on any of our sales material are intended to express our opinion of earnings potential. Many factors will be important in determining your actual results and no guarantees are made that you will achieve results similar to ours or anybody else’s, in fact no guarantees are made that you will achieve any results from our ideas and techniques in our material.
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Please note that Chris Prefontaine or Chew Publishing, Inc. DBA/ SmartRealEstateCoach.com earnings are in no way average and that any examples provided should not be considered typical as your results will vary on many factors. If you think you can get rich by simply clicking a button or allowing others to do all the work than we recommend you do not invest your money in any educational program or business tools it will not be a good investment. Our team is here to support you and we hope that you make buying decisions because you are also dedicated to success.
From time to time we send emails promoting other company’s products or services and may earn commission for doing so. It is important to realize that while we only send products that we believe will help your business, we do not recommend investing into anything without doing you own due diligence. Like with anything in life, in order to succeed you will need to put forth effort and be persistent. And finally, any information provided is education and cannot be taken as legal or financial advice.
We are not attorneys. Laws change in every State from time to time. Always check with your attorney before buying and/or selling real estate for the applicable laws, etc. These laws may or may not affect some of the techniques we teach. There are no laws to our knowledge that can STOP you from profiting in real estate, but you'll need to seek a qualified local real estate attorney.
As of the posting of this disclosure, we are aware of laws in the following areas that are different from the other States. This is not all inclusive and only those that we are aware of:
- Texas-lease/purchase restrictions unless you comply with local changes.
- Maryland-foreclosure laws within 20 days of foreclosure. We don't teach foreclosure. Some restrictions buying subject to existing mortgages.
- North Carolina-comply with 3-day right of rescission as well as recording agreements when doing lease/purchase.
- California -Foreclosure property laws. We don't teach foreclosure.