In this Expert Insight Interview, Nick Prefontaine discusses helping investors break through their limiting beliefs and build a real estate business that serves their lives. Nick Prefontaine is a Buyer Specialist from Smart Real Estate Coach, specializing in helping associates from all over the country work with buyers.
This Expert Insight Interview discusses:
- How to get started in real estate
- How to get around dealing with banks and loans
- Choosing the right properties to invest in
If you’re looking to get started in real estate, you just have to do something. Look, evaluate, do the due diligence, but don’t get stuck researching because you’ll never get anything done. Pick the niche that makes the most sense to you and get going.
Those wondering whether this is a good time to get involved in real estate should know that there’s no better time to take the plunge than with the market on fire like it is today. That said, Nick was quick to point out that him and his company don’t advise using personal credit to purchase property.
Avoiding Personal Credit
There’s a large portion of the market that needs help. Even though it’s easier to get a loan today than it was a few years ago, it is still difficult. Dealing with banks is still a challenge and the underwriting standards are still very difficult, so roughly 80% of the market can’t even get a loan today.
The reasons for this are many, including death, divorce, job relocation, and many other unpredictable and life-changing scenarios. Signing a lease-purchase agreement is one of the ways of getting around this problem.
Picking the Right Property
Most people think that, to invest in real estate, they need to take out a mortgage and buy something, but there are many different ways to get involved in the market. There is also a wide variety of properties you can choose to invest in, and getting this right can be the difference between success and failure.
The properties that Nick focuses on are nice homes that are fairly move-in ready in nice areas, but for whatever reason, they weren’t able to sell. That’s where he comes in with his company, purchases the property and puts the wheels in motion to get a buyer for the home.
John is the Amazon bestselling author of Winning the Battle for Sales: Lessons on Closing Every Deal from the World’s Greatest Military Victories and Social Upheaval: How to Win at Social Selling. A globally acknowledged Sales & Marketing thought leader, speaker, and strategist. He is CSMO at Pipeliner CRM. In his spare time, John is an avid Martial Artist.