CDL 30: How Chris Prefontaine Switched His Real Estate Strategy After The 2008 Crash...

CashFlow DadLife

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So the big question is this, what would you do if money didn't matter? So you had millions in your bank account, what would you focus on? Would you spend more time with your family, with your wife, with your kids? Take family vacations.

Would you pursue your gifts and talents and dreams? Serve your local community, teach others, serve your church. You see if what you would do if money didn't matter, it was pursuing your gifts and talents and dreams to serve others, and that is probably what you should be doing.

The problem is most people are in the rat race, living five inches in front of their face with no time to pursue what they were born to do. That is the problem, and the solution is to develop enough passive income to replace your working income so you can quit your job and be free to live your life the way you were created to.

That is a solution and this podcast will show you how...

Ryan Enk: What's up everybody? This is Ryan Enk with Cash Flow Dad Life coming at you with another awesome episode. We have a really awesome guest with us today, Chris Prefontaine.

He has a family real estate company, they're doing, you know, they don't just a mentor people, but they're also out there in the trenches. They're doing two to four deals a month. They also partner with students in certain geographical areas and what they really specialize in is buying on terms.

So a super excited to have him on our show today to share with you guys some of the wisdom.

I always talk about a different creative ways to purchase real estate. It's always awesome to get as many brains together to put that wisdom together to see if there's new ways of doing it that, that we may be not be exposed to before.

So it's a huge pleasure to have on the show Chris Prefontaine. Chris, can you hear me all right on your mic?

Chris Prefontaine: I can, if you can hear me, we're good and thanks for having me.

Ryan Enk: Awesome. So, uh, so give me a little bit about your backstory. How did you, you, you've got a family owned company. How did you get started in real estate? What was the appeal there?

Chris Prefontaine: Well... so this business was 2013, but I'm going back to. I'm gonna date myself here in 1991. So I started building homes. We, I called spot building back then we would just put signs on people's lots and not buying a lot. Preselling it over that with a new construction package. And then everybody cashed out at the end. It was pretty cool. I know money to start it.

So that's how we had started it...

Chris Prefontaine: Did that all through the early nineties where you put signs on other people's lots without owning it for nothing but to sign on, get a building and put a package together on it and presold that whole package and everyone, including the suppliers wait until the very end to get paid. So it was pretty neat.

So that was just kind of like a wholesaling type thing. Ah, actually we built, we actually built the home to visit and I a back then. So that's what got us started, a 95. I bought a realty executive franchise.

So I put the rail to hat on back then. And then 2000 and I sold that to coldwell banker and then in the early two thousands we were doing a bunch of the condo conversions, you know, two, three, five, six, 12 unit building, turn them into condos, resale macros, crank.

Chris Prefontaine: And then it was good. And then in the lovely, a 2008 debacle, a causes to reevaluate --- Support this podcast: https://podcasters.spotify.com/pod/show/cashflow-dadlife/support