Money is the biggest obstacle for most hopeful investors, along with the belief that every investing model requires lots of it. How can we get into a model that doesn’t require a lot of money out of our pockets? Why is this model a great way to take advantage of a downturn? How can we protect ourselves from the risks associated with the model?
On this episode, I’m joined by successful investor, best-selling author of Real Estate on Your Terms, and founder of SmartRealEstateCoach.com, Chris Prefontaine. He shares on his no-credit investing business, and some of the obstacles he faced on his journey.
Watch the Full Episode:
Real estate is not all smooth sailing and there will be headaches, even if you’re doing everything right. All you can do is prepare for that. -Chris Prefontaine
Three Takeaways
Why the owner financing/lease-to-buy model is recession-proof
While people believe wholesaling works, when the market dries up and cash buyers start to dwindle, it will become a challenge to keep it going. The owner financing/lease-to-buy model isn’t just downturn-proof, it thrives in a down market. It can position us perfectly, because we can be the solution for sellers who want out but can’t sell, and people who want housing but can’t get a bank loan.
How to protect ourselves from lease-buyer defaults
All businesses have headaches, and owner financing /lease-to-buy model is no different. 1-5% of the people will default, even if we’re doing everything right. A life event will always happen, but we can protect ourselves by having lines of credit set up, just in case.
Creative ways to attend high-price mastermind events
Joining a mastermind can be expensive, but we shouldn’t let the lack of money stop us from attending. We can find ways to pay for the mastermind through the help of people with more resources. We can also offer to donate our time to a mastermind, helping out with the event, in exchange for attending.
Ready to become a Rebel Banker? Click here to learn more about Money School
FREE LIVE Event – Learn everything about how money works in real estate in this content-packed 2 hour session! Click here to reserve your tickets!
