Providing Non-Traditional Buyers a Path to Home Ownership using Lease Purchases with Nick Prefontaine
Nick Prefontaine – real estate investor specializing in lease purchases, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. Nick tells the story of how a snowboarding accident left him in a coma for three weeks, his journey to real estate investing which began with knocking on the doors of pre-foreclosures at age 16 and 17. As part of a family-run real estate business at Smart Real Estate Coach, Nick specializes in working with lease purchasers to get them into a home and on to the path of homeownership.
Key Lessons Learned: Trust the process. One of the great things about real estate is that it is easy to replicate other’s success, especially if they have a process that you can follow. If they do, trust the process and stick to it. Also, don’t get too bogged down in the details. Focus on the next task in front of you. Do that task, learn from it, and then get on to the next task at hand.
How did they acquire their knowledge or what knowledge did they need to acquire? He learned by doing. He came from a real estate family and got started knocking on doors of pre-foreclosures as a 16 to 17-year-old.
How much money did it take to get started? About $1,000.
How much time does it take now? It’s a full-time job as he is heavily involved in selling their inventory of homes using their lease-purchase strategy.
Could they do this strategy from anywhere in the world? Yes, but it really requires an extensive team on the ground in the market. They often partner with students across the country.
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