Episode 767: Real estate on your terms, with Chris Prefontaine
Our special encore guest today is Chris Prefontaine. Chris has been in the trenches of the real estate industry for over 25 years. His company has done over $80 million in real estate transactions. He is a practitioner at heart \u2014 which is why his company still buys between 4 to 10 properties each month where Chris and his family practices what he preaches. He is the author of the best selling book, \u201cReal Estate on Your Terms.\u201d
I invited Chris back for an encore because of a fundamental problem that most business owners struggle with -- how to get their wealth out of their business and into other assets -- just in case they don\u2019t have an opportunity to sell the business -- or even if they do sell the business -- awesome -- the diversification of assets can provide a very balanced portfolio. And real estate may be one of those investment strategies to consider as you are building out your plan.
What you'll learn about in this episode:- How to get your wealth out of a business and into other assets while still running the business smoothly
- Diversifying your portfolio in real estate
- How to develop and help people grow to reach their full potential
- How to run a family business smoothly and efficiently
- The unique advantages and disadvantages of running a family business
- The importance of having each family member take on a specific role within a family business
- How to show people that they actually have a pathway to financing and homeownership
- How to amass millions in cash outs over the next three years
- How to make money from the three paydays of real estate and how to morph the three paydays into four or even five paydays
- Whether you should have accountants and attorneys advise you for higher-end deals