SHOW NOTES
Are you intrigued by the possibilities of acquiring real estate without using your own money or getting traditional loans? Do you want to learn the art of creative financing to scale your real estate portfolio?
In this episode of “Financial Freedom with Real Estate Investing,” we dive deep into creative financing with our expert guest, Chris Prefontaine. Chris is the founder of Smart Real Estate Coach, an author of four books on Amazon, and a Forbes Business Council member. He has over 33 years of experience in real estate and has mastered the art of buying and selling on terms. Chris breaks down three key creative financing strategies: seller financing, subject to existing financing, and lease purchases.
Here are some key takeaways from our conversation with Chris:
Key Takeaways
Introduction to Creative Financing
- What it means to buy real estate creatively
- Benefits of buying real estate without using your own money or getting loans
Chris Prefontaine’s Journey and Credentials
- Founder of Smart Real Estate Coach
- Author and Forbes Business Council Member
- More than three decades in real estate
Creative Financing Strategies Explained
Seller Financing
- Properties free and clear of mortgages
- Principal-only monthly payments
- Finding and contacting potential properties
Subject-To Financing
- Buying properties subject to existing loans
- Importance of proper paperwork and using trusts
- Risks and how to mitigate them
Lease Purchase
- Controlling properties with lease options
- Benefits and scenarios when this works best
Applications to Multifamily and Commercial Properties
- Creative financing in various asset classes
- Specific techniques for small and mobile home parks
- Pros and cons compared to traditional financing
Management and Scaling
- Best practices for managing creative finance deals
- How to handle properties efficiently
In This Episode, You’ll Learn
- How to start with creative financing and the mindset needed
- Real-life examples of successfully using these strategies
- The importance of solving seller problems for successful deals
- Tips for ensuring proper legal setup and avoiding common pitfalls
Connect with Chris Prefontaine:
- Website: Smart Real Estate Coach
- Get a free book: WickedSmartBooks.com/Michael3
- Follow on social media: @SmartRealEstateCoach
Resources Mentioned:
- Melissa Data for property lists
- REI BlackBook for CRM and workflows
- Local REIAs for legal assistance
Call to Action
If you're inspired to explore creative financing further, listen to Chris share his strategies and success stories. Visit The Freedom Podcast to learn more about passive and active investing, and download free resources to get started on your real estate journey today!
Don’t miss out on this value-packed episode to understand the potential of creative financing in building your real estate portfolio. Listen now and take your first step towards financial freedom with real estate investing!
