Strategies On Real Estate Investing Deals With Chris Prefontaine

If you want to achieve success in your real estate investing deals, you have to pay attention to two important things: consistency and network building. In this episode, Derek Dombeck is joined once again by Chris Prefontaine, author of Real Estate On Your Terms. Together, they break down real-life deal stories to highlight why being consistent and well-connected regardless of the market conditions or political climate is a must in the world of real estate. They also talk about the right way to navigate legal issues, why due diligence must never be ignored, and the power of trusting your gut when handling deals.

—

Watch the episode here

Listen to the podcast here

Strategies On Real Estate Investing Deals With Chris Prefontaine

We’ve got a returning guest, Chris Prefontaine. Actually, Chris and I have been going back and forth. I’ve been on his show, and he has been on my show, and we’ve got a very similar mindset. We both love creative deal structuring. This show is a lot of fun. We go down several different paths that weren’t even planned, but that’s pretty common for Chris and I.

Introduction

Before I bring Chris on, I really want to, number one, thank all of you who continuously come back and are a part of the Generations of Wealth family. For those of you that are just discovering us, welcome. I really enjoy and love putting out content for you to help you. Anything that that we do, you can find at TheGenerationsOfWealth.com, including our Elite Negotiations Academy, which is a twice-a-month coaching program for negotiating.

We’ve also got the Generations of Wealth Voyage, our conference on a cruise ship coming up in February 2025. Anything else that we have going on, it can always be found in the resources tab at TheGenerationsOfWealth.com. With that, I am very excited to bring Chris back on the show. Let’s get started.

—

Welcome back to the show, Chris Prefontaine. It’s been about twenty episodes since we had you on, but how are you doing?

I’m doing awesome. Thanks for having me back. We just chatted on my show and I know things are changing fast. We’re talking at year-end, so it’s just a good time to catch up.

For those of you who didn’t catch Chris’s first episode, obviously, we’d love for you to go back, but real brief, Chris, who are you, where are you from? Give us a little bit of background on Wicked Smart and then let’s get an update.

I’m in Newport, Rhode Island. You know my story, so I’ll just be brief. I’ve been at this biz for many years in some shape, form or fashion. After the crash of ’08, we launched into our own properties and did so without using banks. I still do not love banks, as you know, so we still buy that way as a family. That morphed into our coaching and mentoring business, as well as dealing with members of the community. That’s been since 2015 when we’re in the trenches doing deals. That’s been our world for that whole time with Wicked Smart Real Estate Coach.

You and I, we’ve got very similar stories. We’ve got very similar beliefs and backgrounds. I don’t want to say that we don’t love banks. We just don’t choose to use banks. It’s always fun on either one of our shows. Real quick, just throw the name of your podcast out there because I want everybody to follow your show.

I appreciate it. SmartRealEstateCoachPodcast.com and there’s a couple of great episodes with Derek on there, so you’re going to want to go check that out.

Market State And Political Climate

What are you seeing now as the markets shift and you’re working with your students and partnering with them? How are you liking the future economy? If we’re going to get a little bit real, what do you think about the political climate moving forward?

Let me preface that with I don’t have a big involvement in politics. I do have an opinion. That’s neither here nor there. I’ll give you a couple of thoughts on this and we can peel it back again. I love the market, but if you asked me if I love the market and if it’s a different political avenue, I would’ve said yes. Here’s why I’m saying that. I’ll talk a little more specific on the politics side because there are always going to be changes. Real estate is constantly changing. Once you do what you and I do and you understand it and you have confidence in it and you have a skill level in it and the creative real estate world, you love changes because you can pivot when everyone else is panicking.

Before the election and post-election, you have the media, and they’re going to keep doing it because they get 66% better ratings. They’re going to keep screaming that things are not good on either side. I love it, generally speaking, because I know when there’s uncertainty, we need to be the guy in the creative world. We get super busy and super relied on and we are the authority. As far as my thoughts on the current direction of the election and where we went, I’m optimistic from a business standpoint and I thought I would be. I’m even more so with what happened. That’s not a political view. It’s just my gut on the market.

I was at a local real estate investor meetup and one of the people there, we were chatting and he literally shut down any purchasing for about 60 days prior to the election with the intention of if the election didn’t go the way that he wanted, he was not going to buy anymore real estate for a while. I didn’t say it to him, but I thought, “Why are you losing that time?” The whole point of this business is consistency. Consistent marketing and consistent follow-up regardless of who’s in office, what the interest rates are, and what’s happening with inflation. You have to have consistency. It’s just like you said, there’s opportunity in everything.

If I could just hop on this, you just said something about consistency in marketing. Before we started here, Sue walked in from my office and said, “You must have sent this postcard a while ago. You got a handwritten letter back from a gentleman out of state who said his brother passed away a year ago and he went and picked up his mail six months ago and your postcard was sitting there.” That hits two things. That hits consistency, but it also hits a variety because I don’t do a ton of postcards at all. I’m low-budget, but I do a few hundred here and there. That could be a deal. As you know, our deals are worth $45,000 to $300,000. Not a bad postcard.

I can’t tell you how often people come up to me and I’m sure they do the same thing to you and say, “How do you find your deals?” A lot of our deals find us because of that consistent messaging, because of putting it out there in the universe and telling literally everybody this is what we do. This is how we can help people. Part of that is with your students and with people that I coach and mentor as well. We’re out there helping them and it’s not just so we can get deals, but that is going to happen. That’s part of helping people. It reciprocates.

The other piece I’ll bring up about this, because we both have mastermind calls our groups, which is another coincidence. There are so many parallels with you and I, but on that call, I’m going to bring up the post-gut issue about what you and I just said, but I’m also going to bring it up in this. Derek, I love your opinion on this. People do quit. Those that quit would not have gotten that back in the mail because they’d be out of business. It sounds crazy, but we both have had people in our community who we know could have made it, and they just quit seconds short. I’m going to bring it up for that reason too because I don’t know how long ago that went out, but if I had given up, then I wouldn’t have even seen that. That’s an expensive miss.

I can tell you one that’s happening as well. I bought a property in 2023 on terms of the intention of being able to buy three properties from the same woman. Ultimately, we closed on one. We were supposed to go under contract on the second two. They were both duplexes. She ended up backing out and selling the properties on land contract to her grandson. I just said, “It’ll probably come back around.” I didn’t really expect that the grandson would want to keep them long-term. Lo and behold, he reached out to me and we’re getting together. Awesome.

Community Deals

That’s what I meant when I said the follow-up and the follow-through because shortly after he bought them, because they all sit right next to each other on the same street, so we had chatted and I said, “If you are ever interested in selling, I’m still interested in buying.” It’s the same thing. If you quit the business, those opportunities don’t come back around. What are you working on right now? Have you got any great deals going on or bad deals? Any learning curves?

I’ve got a cool deal and then I’ll talk about the community deals because I’d like to shed light on both of those. I’ve got a cool deal now on the water out in Connecticut. My son-in-law, Zach and partner is going to go out there and see it. That’s why it’s fresh in my brain. This is pretty typical of a seller. She had been renting this out on Airbnb and seasonal since COVID. She had top dollar during COVID because it’s a lake house. It’s in pristine shape. I think she was getting about $14,000 a month. It’s about a $900,000 or $1 million property. People would say, “She’s not going to sell.” No. If I talked to her during COVID or a year or two ago, she wouldn’t have. What’s the difference now?

She’s just tired of it. It’s complete timing. It’s not like she’s stressed. She just wants her hands off. Zach, my son-in-law, will go out there and we’ll offer her an owner financing deal or maybe even an AO where we find the buyer and assign it to her because then she’ll get the max profit. Morally and ethically, I will present that to her to see if she wants it. If she says, “No, I want hands off,” then I’ll pivot back to owner financing.

That’s a cool deal because the only reason I said that’s a cool one now, not because it’s pristine but because of the profit potential, Derek, on that one. If it’s $900,000 or $1 million and we do three paydays on that, our three paydays would probably be $250,000, maybe even higher over the course of 3 or 4 years. That’s a cool deal. The house is great. It’s a nice, pretty home.

I think that’s actually a really awesome point. You don’t have to be out there looking for the beat-up, rundown 150-year-old houses. There are plenty of ways when you’re doing creative deal structuring to get pretty homes.

Can I give a metric? I don’t know if I’ve done this on your show. Just three variables. We like free and clear, as you probably recall, in our world. When you find a free and clear home and a third of the properties out there, roughly speaking, there are no mortgage. When you find one that you can purchase $200,000 or higher, in most markets, you can find a $200,000 home and up, and you structure at least a 48-month deal or more. You structure a monthly principal paydown of at least $950 for your monthly payment, and you have that three-payday system. You have a six-figure deal. Full disclosure, I’m not saying you’re going to go out and find ten of these a month. Can you find 2 to 6 of these a year and change your world at $100,000 a pop? Yeah, I think everybody can.

Pitching And Negotiating

My love of negotiating and how to talk to people, instantly, I think of how do you pitch that. How do you pitch that to these homeowners? As the readers are reading this, many of them can’t even fathom a six-figure payday. What do you think it takes to really convince somebody to do that?

A couple of things. I get asked that exact question all the time. I know you do. Derek and I don’t convince. What we do is we listen for a headache, a problem or a goal they’re trying to accomplish that the conventional market’s not doing and we solve for that. It’s like find the headache and sell an aspirin. That’s all we’re really doing. If they don’t have a headache or they’re not trying to accomplish a goal that the market’s not letting them accomplish, then you’re not the buyer. How we worked was that I just had a call for a student. It was not my deal, but it’s free and clear. It was a second call to a call. The gentleman’s name is Alex. I think he’s got about a $980,000 home.

Let’s call it a million-dollar home out in Connecticut. He said to me, “I spoke to your partner, Paul. Paul said that you guys usually don’t put money down.” I gave him what I call the four quadrants. This might be a nice nugget for peeps. I said, “Alex, very simple here. You’ve got a price of almost $1 million. You’re asking me for down and we have term to deal with and we have monthly to deal with. We have those four variables. Obviously, it’s not fair if I give you all four. It’s not fair if I take all four. What’s two are most important to you?”

That was logical to him. He said, “call me next week.” I called him before this show. I said, “Where are you with it?” He still waffled a little bit, but you remember distinctly the four variables. He said, “I was thinking if I do go with no down, then the price might be higher.” I said, “Precisely. You’re saying you do want the higher price.” We at least got to that point. We’re going to send him a couple options and see how he reacts. We’re never convincing. We’re trying to push those buttons and find what works for him. That’s all.

I’ve got one right now, too. It’s a five-unit building and the gentleman is a 75-year-old real estate agent actually. He bought the building thinking that his kids would want it after he’s gone, but they don’t. Of course, he wants to go above and beyond what it’s really worth. We just walked through the numbers because some people are analytical, some aren’t. I’m not super analytical, but he really needed to walk through it in an analytical way.

I said, “I’d love to give you what you’re asking for the property, but your cashflow just doesn’t support that. The only way I can get you exactly what you’re asking is if you take payments at no more than 40% of gross rents until paid in full at 0%.” I’m not saying I’m going to get that deal, but that’s how I’m walking him through it. I’ll give him his price. I’ll give him the above and ask if that’s what he wants, but it’s got to be the quadrants, like you said. The payments and the terms got to make sense.

I should bring this up. You could have like 5 or 6 variables, technically 5. I’ll start with three because I don’t want to bring up down in percentage of interest rate all the time. I’ll start with just term price and monthly. Instead of a quadrant, I’ll say to them, “Picture a seesaw. I got to have that seesaw balance with those three variables.” You can play with that. For the readers, you can play with the quadrant of the seesaw.

Avoiding Imputed Interest

I think that was actually really something we should expand on. I know I don’t bring up interest rate or length of term if and until they do. If it doesn’t come up, I’m moving forward as if it’s 0%. I’m assuming that you get the kickback from either students or just the general public. How do you do that without paying the imputed interest that the government forces on you?

You can google this because I put it into the community channel. We operate, for the most part, inside the exceptions to that, outside of the imputed interest. If you’re selling a business or you’re selling over $1 million, there are some other criteria, it’s different. Most of the homes we are buying do not have imputed interest. You just go look up the IRS code.

I used to know the code section. I actually used to have it on the office wall here. That is what anybody should do. We’re not giving anybody tax advice. We may look like accountants, but we’re not. I don’t look like an accountant. You should at least know enough about tax law when you’re working on deals like this to make sure that you’re leading people down a path that they can go down, but don’t give them any legal or tax advice. I tell every seller, “I believe that we can do this, but you need to go and get answers from your tax professionals or your attorney.” I would say 90% of the time, they don’t and that’s fine. We gave them the opportunity. We said they should if they want to feel confident.

Presenting LLC Documents

I thought of another question if I can toss it at you, Derek, actually? I’ll hijack the show for a second. When you said that, I thought of a question that came up in our community. It’s come up before, but it hadn’t in a while. That was a seller. I heard this because I was critiquing a community member’s call, which we do a lot of. I know you do that. The seller said something along the lines of, “I’m going to need details on your LLC and I need your financials.” I think I’ve been asked that once in ten years, but for whatever reason, it probably was a confidence thing and he asked her that. How do you respond to that, or how do you teach how to respond to it?

I will tell you, in all these years, I’ve never been asked for my financials. I’ve never been asked for my LLC documents from a private transaction or a private lender. If somebody asked me that, first of all, I would want more details as to why they want to know that. I would say, “I’m not going to turn over my operating agreement from my entity. However, you can double-check on the state website to make sure that my entity is in good standing. I have no problem with that. I will show you the articles of organization when I organized the company. I’ll give you my EIN number from the federal government. My private documents, unfortunately, are because I have other business partners, and in this case, that’s my wife, but she’s still my business partner. I’m not allowed and authorized to show you our private documents.” That’s how I would deescalate that.

I had that once. I remember the gentleman, but what I said to the student was pretty much what you said, but I also said, “I would bet you that this deal’s going nowhere.” I was asked this once back in I think it was ‘15 or ‘16 and the guy was just literally a pain in the butt. I got a point where I said A) I’m not giving it to him. B) I wouldn’t want to do business with him. We have that luxury. We don’t have to do business with people.

Actually, that’s a great point, Chris. I think too many people get so wrapped up in, “I have to get a deal,” that they enter into deals that are going to be a nightmare. Sometimes, the best deal that you do is the one you walk away from. If the hair stands up on the back of your neck and something is going wrong, don’t just walk away. Run away. You have to trust your instincts in this business. I’ve got one right now that’s absolutely pissing me off and my local friends know about it. I closed on a property last January of 2024. We stuck a $70,000 rehab into this property and we bought it subject-to then gave the sellers some cash and they carried back a second position mortgage, add 0% and then I brought in private capital to do the rehab.

There are three positions on this property. In June 2024, I get a random phone call from the seller. Keep in mind, we’re still in contact because I’m making payments to them. I’m paying on their existing loan. This attorney is questioning the sale. The seller says to me, “Derek, I effed up. I wasn’t supposed to sell the house. Do you have any pictures of what the house looked like when you bought it?” I’m like, “Sure, no problem. I’ll send them directly to the attorney. How do I get ahold of him?” It turns out that this husband and wife who were involved in every part of the negotiation, every phone call at the closing, you name it, she was not of sound mind and body.

He was her legal guardian, but they never disclosed and she signed all the documents. This attorney is now saying this is not a valid sale and thinks I should just give him the deed after I stuck $70,000 into the property. It’s literally tied up in litigation right now. The point of that story is that even if you do everything right, I’ve never heard of this happening because guardianships are not searchable. The title company had no way of knowing. I had no way of knowing. I had a little feeling. The hair stood up on the back of my neck a little bit pre-closing. There were some other things. We’re definitely going to lose money on this transaction. We can’t do anything with it. It’s probably going to be another 4 to 6 months before there are any decisions. What would you do in that case, Chris?

Not knowing or hearing the attorney conversations, I think I’d count my losses and spin out of it. I don’t know if that’s what you’re doing. Is someone in the house?

No, it’s vacant. I can’t sell it.

They won’t come to terms even for you to sell it and give them something because they have already been paid or they have the note left. That’s it.

The sellers aren’t the ones challenging it. The attorney who oversees the guardianship, because there’s an annual reporting, that’s how they found out that it sold. The annual reporting didn’t get done so they came looking to see what was going on. What they want to do is go back in time now and try and make sure that, number one, it was a fair price.

Number two, would the court have approved the subject-to sale? This is the part that is going to be fun, and I don’t mean it in a good way. They want to have an appraiser come in and give their opinion of value. Number one, all they can go off of his pictures. Pictures don’t tell the story about how the place smelled or the fact that part of our transaction was we evicted their troublesome tenant.

The other part is their opposing attorney wants very much to question the validity of a subject-to sale without permission of the lender. I’m sorry, but I’m in the Upper Midwest, and our attorneys here are not real estate professional attorneys. They don’t have the background or the knowledge. This guy has no clue about subject-to purchases.

Unfortunately, we had two attorneys at our event in Boston who do sub-tos, and they said something similar to what you’re saying. They said they usually can talk to another attorney on the other side and get them comfortable. They’re experts and they’re the attorneys. They can’t even “convince” the other side. Unfortunately, my brain goes to, option A, hire a great attorney, pay out the butt for fees and maybe win and maybe spend $25,000, $30,000, $40,000. That’s what it costs in a long-term thing.

That’s the option I’m at. What’s option B?

Option B, because I’ve been this route too, is somehow come up with a settlement that’s going to make the attorney puffing his chest happy and move on. Even though you know deep down that it’s wrong, they’re wrong and even though it’s going to hurt because it’s just bad energy.

The reality is that because I have the private money in place and that guy’s in a junior position over everybody else, I can’t let it die. I can’t just give them the deed. Ultimately, if the court comes back and says this was an invalid sale. Legally, she can’t sign these contracts and they reverse the sale, then I have to go and start a civil suit against the sellers for not disclosing and likely end up with a judgment against the house that I just rehabbed.

I know you and I aren’t attorneys, but I guess one question. They couldn’t catch it on title when you bought it, what’s on title now that would stop it from selling tomorrow?

They filed lis pendens. Basically, what’s happened is they never served me, they never gave me any notification. They just filed a lis pendens. We’re suing also for malpractice and a couple of other things.

Push and shove.

By the way, I have been very fortunate to be involved in very few lawsuits. I can count them on one hand. Nobody wins.

That’s what I was going with that. The attorneys do.

They’re probably playing golf on the weekends, laughing about the $400 an hour they’re each charging. There also comes a point in your career when you are going to have a situation where you have to make a choice. Do I just take it and take the loss and move on or do I put up a fight? Usually, I’m the one that just says it’s not worth it. I’m going to back down and just take the losses and move on. In this case, I just can’t do that. I’ve got to protect my investors, first and foremost, but there’s just something about this one that I can’t roll over. It’s going to cost me money, time and stress. Yeah, we’ll see. It’s another chapter to another book.

I have two comments and we can move on if you’d like. I don’t mean this as real salt in the wound. It is what it is. You made a really good comment because you and I both openly will talk about this stuff and I know personally, and you do too, educators and mentors who will only and forever talk about the woman fuzzy and fluffy. You’ll never get them to tell you about one of their challenges. The challenge with that is you got the readers and the community members in both communities, if that were us, they could go out get themselves in trouble. Whereas now they know, “Chris and Derek’s an open book. I can bring them headaches and they’ve probably been through it.”

The coaches have been through a lot if they’re coaching with us. One of them laughed and said, “I know you’re going to tell me you already went through this, but let me tell you the challenge I have,” because we’ve been through a lot, you and I and the coaches that we have. The good news is Derek and I will tell you about it. There’s a huge learning lesson there. The second good news is you can call us, 1-800-GET-HELP. You just call us. Don’t call that line. I have no idea where that goes. I’m just saying it’s a lifeline.

Facing Litigation And Litigious Cases

You might have just sent everybody to a porn line or something. You read it here. This is where you go for phone sex. I don’t think we’re going to edit that out, either. I think we’re just going to leave it alone. That’s who we are. I don’t really want to make this about the worst thing that ever happened to us type of episode, but since we’re on this topic, have you had anything, life lessons that was litigation or litigious in nature that was a real thorn in your side? How did you handle it

Other than small headaches? I’m trying to think of a headache as big as you’re going through right now. I think any headaches that came back over the years, because there hasn’t been one recent, would be a seller trying to go around us. We stuck circumvention clauses in a lot of our agreements. I think we’ve had like 1 or 2 in literally in my career. I can pivot, though, to just property headaches. Since we’re on weird stories, we built a business once around Holy Cross College in Worcester, Mass. It is a system to that. There are people that actually teach that.

My partner and I, he’s a plumber. He is in the field. He ran the field. We had about 6 or 8 buildings. They ranged from 3 to 6 units each. We only rented to kids and we only had them sign with their parents. We only had them prepaid. It was a great little business. To this day, I’d still do it. Remember, my partner is a plumber. He went to collect rent one day and there was this stench coming from the basement. He goes down and there’s a foot and a half of sewer in the basement. That would be shut down like that if the town finds out. This is back around 2000. He calls me and says, “You’ve got to meet me like in the middle of the night. We got to get this out of there.” It was 2:00 in the morning.

Together, we wrap our feet, and we go into this. I don’t know if I do that now. In fact, I can promise you I wouldn’t, but back then, I did and we got it out. Punchline, about a month later, it happened again. Come to find out, there were roots. It was an old building and roots were getting in and blocking the sewer line, which I’m sure you’ve either heard of or experienced. That’s not the first time that happened. If you have blockage, you might want to check the roots and the pipes. That was a nasty story that we had to live through. I smelled it. A month later, I would say to my wife, “Do you smell something?” She would say, “No, you got it in your nose forever.” That was a stench that did not leave my beak. Nothing to do with the lawsuit, but you opened that up.

I can tell you, I’ve had that stench in my nose. A buddy of mine did a transaction years ago and he gets notification from the county that they were going to foreclose against this house. He’s a lien holder as a lender. What he had done is he had just carried back like a $5,000 note because there was a shortfall on a different transaction. He had never seen the house and didn’t care. It was a free and clear house and he had a $5,000 first position note against it. My buddy ends up moving out of Wisconsin and at that time, there were $22,000 in back taxes. The counties where I live in, about year number four is when they’ll foreclose because of not paying your taxes.

He says, “I’ll sell you this note. You can go and foreclose, take the house, rehab it, and do whatever you want to do.” I did a drive by and when I did a drive by, the garage doors didn’t close. There’s stuff spewing out of them. There’s stuff all over the yard, and it is clearly a hoarder house. I was like, “Perfect. I bought this $5,000 note for $7,000. It’s going to cost me $5,000 to foreclose. I’m all in for $12,000. Sure, why not?”

Long story short, I foreclosed. She wouldn’t leave. I had to get the police department to escort her out. While they’re serving the writ, the officer comes up to me. I’m just sitting in my truck out of the way. He says, “Have you been in the house or in the basement?” I said, “No, I haven’t. I’m just staying out of your way.” I walked in there and there were sixteen inches of standing water in the basement because the house was essentially built on a swamp.

There was just a constant flow of water in. If you didn’t have a pump going it, it would fill up. It had its own private well in septic. The sixteen inches of water shorted out the well pump and the furnace. The hot water heater actually floated up and tipped over, ripping the wires out of the wall. She had been living in this condition for over two years. Solid black mold on the joists and everything. By the way, picture a hoarder house and then double it. That’s how bad it was. She’s keeping warm with space heaters. Just a fire hazard.

She would bring water from her daughter’s house to flush the toilet and whatever she needed water for. I walked around the side of the house to where the septic tank was and it collapsed. What actually was in the basement, they had taken the four-inch screwed cover off the cleanout. Every time she brought water from her daughters to flush the toilet, the basement was all raw sewage. She lived in that for years.

Unfortunately, we also had parallel stories on this one.

At some point in time, you and I are going to get together in person and have a beer, and we’re just going to see how many other stories we have.

Just keep doing episodes with each other’s shows, and we’ll vent them all out.

I still like the idea of having beers, though.

I’m game.

Episode Wrap-up

We’ve been going at it for about half an hour and it always seems like five minutes with you, Chris. To wrap this show up, what do you think is a really good question that I didn’t ask you that is going to help both our audience?

More of a comment based on what we said than a question because the communities are so similar. I don’t care when you read it, but going to ‘25, there’s one way, every single person reading, I would think they would want to get their fingers on and participate in and enjoy the lifestyle of the profit you and I have talked about before the horror stories. If that’s the case, what stops you? I got to think. It’s just simply the belief in you.

To get that belief in you, all you need to do is connect with the community so that you can pick up the phone and call and get help on your calls like Derek and I do in our communities. We critique calls. We help you gain your confidence in your skillset and your poise. That’s it. It’s just a recap of everything we said and more to say. Reach out. Don’t try to do it yourself in ’25.

Here’s the gut check for everyone. I don’t know the answer, but the question is this. Are you where you thought you’d be in December of ’24? If you do a gut check, are you where you thought you’d be when you set your goals in January of ‘24? If you’re not, figure out why and let’s patch that hole so that in December of ’25, you look back and go, “I’m super glad I took their advice and jumped on something and didn’t just sit and do the same old.” That’s my thought.

Whether you’re plugging into Chris’s network for your education and your information, it’s super important to ensure that whoever you are getting your information from has experience. They’re not just telling you the fluff and the good stuff. YouTube University is great, but YouTube University is dangerous. I would very much caution anybody that’s just out there. I’m not going to say names, but there’s educators out there that are pitching stuff that is going to get themselves and their students in a lot of deep shit, so be careful out there.

I run my Elite Negotiations Academy, EliteNegotiationsAcademy.com. That’s open to the general public. That’s where we are doing what Chris does as well. We listen to recorded negotiations and we pick them apart. I walk you through how you could handle it differently and how you can deal with structure. Chris does the same thing with his students. Wherever you’re getting your information from, definitely follow Chris’s podcast. Chris, throw that out there again real quick.

SmartRealEstateCoachPodcast.com. You can find it. Just type in Smart Real Estate Coach on Apple or your favorite podcast platform.

Let’s do this again.

Yeah, I can’t wait. If you’re good with it, do you want to give them the physical book again?

Yeah, absolutely. If you want to shoot my team or me a link, I’ll give them a CTA really quickly. I would say TheGenerationsOfWealth.com/wicked. That way, just go to that URL, and we’ll get you hooked on how you can get the book from Chris. What’s the book about, Chris?

Real Estate on Your Terms. It was revised. It was written in ’17 and revised after COVID. It’s everything we talked about. It’s A through Z of how we operate. You hear from people around the country, but it’s the three-payday trademark system.

Go to TheGenerationsOfWealth.com/wicked, get a free book from Chris, plug into Chris’s community. Stay plugged into the Generations of Wealth community. It’s been a pleasure and I can’t wait to get it get on another show with you. Also, we really should plan some time to get together in person, break bread and have some beers.

We’ll figure it away. Thanks for having me. I appreciate it.

Alright, everyone else, we’re going to wrap up this show. Thanks again for following the show. Please get out there, share this show and give us all the likes, the loves, and everything that we need to grow the community so we can continue to help you. Until the next one, live your vision, love your life. See you.

Important Links

• Reicot.com
• Gowvoyage.com
• TheGenerationsOf Wealth.com/Fbgroups
• The Generations Of Wealth/Wicked
• TheGenerationsOfWealth.com/YTChannel
• TheGenerationsOfWealth.com/Instagram

About Chris Prefontaine

Chris Prefontaine is the Chairman and Founder of Smart Real Estate Coach®, a 4x best-selling author.

He is a Forbes Business Council Member and a 3-time Inc 5000 Honoree for Fastest Growing Company.

Wicked Smart Community operates all over North America and has successfully completed hundreds of transactions, assisting students in doing the same. Alongside his achievements, Chris hosts the Smart Real Estate Coach® Podcast, which ranks in the top 0.5% globally.

Having navigated through challenges such as the crash of 2008, 9/11, a near-death experience with his son, and the impact of COVID, Chris reengineered his entire business to weather all storms and economic cycles. Understanding these challenges, he helps students navigate the constantly changing real estate waters.

Chris, his family, and his team’s mission focus on transforming dedicated individuals into Wicked Smart real estate investors.

Chris and his wife Kim have been married for 37 years, and their adult children Nick and Kayla participate in the family business while also pursuing their own entrepreneurial ventures.