Creative Real Estate Investing Approaches and Strategies


Sarah Larbi: REITE Club nation, welcome back to another awesome podcast. I'm here with Laurel Simmons. I'm Sarah Larbi, and we've got a great guest on today, Chris Prefontaine, who will talk to us about terms and a really cool new rent to own concept and mixed in with the vendor take back. Shall we bring Chris on?

Laurel Simmons: Let's do it.

Sarah Larbi: All right, Chris, welcome to the show. How are you?

Chris Prefontaine: Great. Good to see you again.

Sarah Larbi: Yes, absolutely. And for those that may be wondering what, who you are, and they might already know a little bit of you from my podcast. However, for somebody that hasn't heard of you prior or spoken to you or read your book, give us an overview of what it is that you do when it comes to real estate investing.

Chris Prefontaine: Sure. So we buy and sell on terms. We can get into a little bit about what that means but 10,000 foot view, it means no cash, no taking out bank loans. And when I say we, it's myself and my family, my son-in-law, Zach and my son Nick, primarily. And we buy and sell in a three state area in the US but we then go off and partner with people all over North America and help them do deals as part of a coaching program/partnership. I think it's the best way to learn. So we've rolled that out in a big way.

Sarah Larbi: Awesome. Now you have Canadian investors as well that work with you from my knowledge. How is it for Canadians? What are some things that we need to learn just investing in the US that you can share with us from a Canadian, investor perspective.

Chris Prefontaine: Good question. Yes, we do have a bunch of candy. That's why I said North America now, which is nice to have. They are operating in Canada and some are operating from Canada into the US because the terms business, this is not new. We've wrapped the system in a support around it, but buying and selling on owner financing and lease purchase is certainly not a new endeavor.

It's been around 18 hundreds. So they can either do it right in Canada or they can certainly do it virtually from Canada to the United States or frankly anywhere. We have people most recently in Israel buying in the United States through terms. It's not too difficult. It's The virtual world now accepted, as you guys know. So it's not like it's a new thing. People welcome that now.

Sarah Larbi: Okay, cool. So let's take a step back now. Let's define what all of this is, right? So what does buying through the term mean? And like what is, walk us through that whole process of what it is exactly that you do from a strategy standpoint.

Chris Prefontaine: Coming out of the oh eight crash, okay, that's where it started. I said okay, I can't get beat up like this again. And I got beat up cause I was on bank loans personally. So when you sign personally, banks come looking for you right when things go astray. And so we started to redesign what the model might look like, and that was what led us to this and the terms businesses simply lease purchase or owner financing.

Let's keep it simple to those two methods right now, owner financing I know means a lot to a lot of people, but to our niche, here's what it means. We look for people that are free and clear. They do not owe anything on the property in any given market. Not exactly, but you're gonna hover around.

A third of the property is debt free in any given market. A third of the property, sometimes higher. And so we tend to fish in that pond, so to speak. And when we structure a purchase with a seller on owner financing terms, we usually structure principle only payments. So picture that for recession, hedge picture that for massive principal reduction throughout the term of the loan.

While we're doing that, we're putting buyers in on a rent to own basis. Who need time to either improve credit, improve down payment, just time to get their act together, whatever it might be. They need time. So we purchase the homeowner financing and we sell it on a rent to own. Eventually cashing out all parties within 2, 5, 7 years. The terms will differ.

That's the owner financing niche by itself. The lease purchase, a little different lease purchase. Let's give you another example because there's so many ways to give it. Lease purchase. Let's say, Sarah, you have a home and it's worth, we agree, 300,000 and let's say you owe 250.
It's not a stressful situation. You just weren't able to sell in the open market, be it Covid or whatever other challenges. So we say to you, okay Sarah, we will stop making mortgage payments on your behalf. Loan stays in your name. So a lease, and we will, at the end of the term, let's call it 36 months, we will give you that 50,000 in equity that you think you have, that you weren't able to get on the market.

At the same time, we're gonna pay off the underlying loan. Now the underlying loan three years later will be less, right? Because we're paying those payments. So we, the investor get the benefit of that principal pay down. Now how do we exit that to make sure that the payments do get made and we don't come out of pocket?

How do we eventually give you your 50 and your 250 or less? We put another rental and buyer in there. That's how we exit all our properties. So those are the two main methods that I can go deeper into any one of them, if you guys want to dive in a little bit.

Laurel Simmons: I have a question about the owner financing. So can you tell us what's the advantage for the owner financially? You said that it's simply what they pay you, you pay them, there's no interest on that, I guess is what I'm trying to say. So what's the advantage for them? Why would they do that if they've got this equity tied up in their home, so why would they do that?

Chris Prefontaine: A couple things. That's the biggest question we get. One is we bought our office building this way, and so the gentleman is a big investor, so why would he do it? One is estate planning, one is tax planning not to get hit with all the attacks all at once. And third is, this is a biggie.

A lot of times the people that have all this equity, especially debt free, they want their price. They don't need it yesterday, they won't get a discount. They want their price. With owner financing, if I'm getting principal Paydown, I don't mind giving 'em their price. In fact, I can pay a premium. Above and beyond their price.

They love that. We just did a deal recently in a little square in a community and a bunch of elderly people owned these buildings and they wanted 'em sold off, and all they cared about was price. It didn't matter how they got there, they were just stuck on price. So call it ego, call it smart financial. They want the price. So all of those reasons usually play into the mix.

Sarah Larbi: Awesome. It is quite interesting what you have access to, cause I will say in Canada, Unfortunately, we don't have the same ability to pull lists like in the US just because of our privacy laws, right? So where you can actually target a certain type of property where there is, it's free and clear as an example.

Like we don't have those abilities. So I think that's a big advantage, and it is quite interesting to see the different markets. Obviously you're investing in the US, you're working with people across North America, and you mentioned at the beginning that you're focusing on three markets. Can you talk about those markets and why those markets?

Chris Prefontaine: That was referring to just our geographic markets, Sarah. So I tell people, whether you're in Canada or the US, I tell people. Stay within where you are. You can do virtually anywhere you want, but you must stay within a 50 mile radius of where you are right now. So we stay in Massachusetts, Rhode Island, and Connecticut, in our area.

That's just cause it's geographically easy to do that. We live on an island, so we actually have to leave the island to get to these properties. So we actually have a tough area, immediate area to buy in. But to your point earlier, with the lead generation, we do have people in Canada going the expired listing route or the for sale by owner route that those are two of our three main sources. The owner financing is a little bit more advanced where we target it, but expired listings in for sale by owners are a great lead source as well.

Sarah Larbi: Yes, and the other thing I would just say is owner financing is also, I think the, like Canadian terminology often is vendor take back. Where the seller holds the mortgage essentially and becomes the bank. Just in case people are wondering about the differences, it's essentially the same thing. So can you just walk us through like how you even got started in what you're doing in the strategy, what your current real estate portfolio looks like today, and just walk us through that journey.

Chris Prefontaine: Sure. So it started with that kind of, that oh eight pivot because I called the oh eight debacle. On a national basis we got crushed. So that caused us to say how might we operate if we're gonna keep going in real estate? I was so beat up that I almost didn't come back in the business at all.

When we defined the rules, it was pretty much what I said to you. No putting money up, no targeting investors, none of that cause that made me stay up at night and worry. And so fast forward, what we ended up doing was, this was back in 2012 when we started just pivoting and doing terms only with laser focus.

We've got 55 or 60 properties at any one time because they come and go the way we cash out. And none of those, are we on any loans of any type? And then what happens is some of them people say to me why wouldn't you want to keep some? Like why do you do the rent and always cash out? The answer is we don't always cash out.

I can find a property on owner financing. I can extend terms. I can do 20 year deals. I can stay in 'em if I want, but for a new investor, usually they want to get some cash flow going and for say a wholesaler or a builder or a rehabber, they only get one check per deal, right? They do a deal, they get a check.

The way we cash out, we actually get three paydays. We actually trademarked that three paydays per deal because we're getting an upfront payment from the buyer when we install 'em in the home. We're getting a monthly spread from the buyer between what we're paying and what we're collecting, and we're getting a long-term payment on that principle paydown and the price markup.

There's actually no, if you think about that business model, there's no better business model. Cash now, cash continuously, and then cash long term. It's like the best of all worlds in any business. So that's how we operate our portfolio and that's how we teach it.

Laurel Simmons: How easy is it for you to find people to actually go into the rent to own? I'm talking about the tenant buyers. Are you finding any difficulty there? Especially now with the way things are?

Chris Prefontaine: Actually the two answers to that very good question. The way things are now is driving a lot more to us, because banks, everybody says rates are low. Great, but they also raised the bar for the criteria to get the loan. And so we tripled our business literally from April on, and it's still going all around North America because of that. As far as finding them, even prior to Covid, there's such a big pool of buyers.
At any given market, you'll have like between 60 and 82% of the buyer pool. If you took a snapshot in time, they can't get a loan today. They either don't have enough down for the criteria or in, especially in the United States, the credit criteria.

It just depends on the particular buyer. But there's always massive amounts. That's the easiest part. The harder product is to find the property. And once you do, you have an onslaught of people looking for terms, during covid, we were like the only door open, so to speak, right? Because banks are so tight.

We have what we call jumbo loans right here. I don't know if this is the exact same in Canada, but over a certain price range in certain rockets, it changes. Those are very difficult to get. You have to be stronger financially and credit worthy, and that becomes very difficult. It almost became non-existent for a few months during Covid where did they go?

They came to us. For the higher end properties, that's what they did. Cause now that they needed time to save more or time to get their affairs in order. So it's actually driving more and more buyers to us.

Laurel Simmons: In Canada, the feds and the banks are constantly raising the bar and making it more difficult for people to qualify for mortgages. And yet there's a huge demand. We've, like just the Toronto area right now, are insane in Vancouver. Even though prices have gone up there's still such a demand around those areas because people are fleeing the cities and it's just ridiculous what's going on right now. There's so much demand, so many people want it, and yet it's harder and harder to get the financing.

Chris Prefontaine: I have a gentleman in Canada that said, and I didn't know it was this set in stone. You guys can tell me if I'm wrong. He said that most banks won't do loans under 20% down. And so he was having a great level of success with the rent to own because he was getting nice deposits up front. They were expecting that. Is that the case that 20 percent pretty much the No?

Sarah Larbi: Yes. So as an investment property, if you're buying an investment not to live in it is 20%. If you're buying an investment like a duplex or even a triplex or a single, and you're planning on living in it, then you can get away with 5% or 10%. With insurance, which is CMHC or somebody to, to ensure that mortgage, cause you don't have the 20% down, but you're right.

Like it is a completely different market when you're looking at the US and Canada. And I'll tell you, there's pros and cons to both markets, for sure. We look at our vacancy rates and we look at the market rent appreciation as an example. And over time our appreciation, I think, is stronger than many places in the US. Yes, the prices are more expensive versus what you guys have. Yes, there's more regulations, but there is some stability too that some of our markets in Canada have that maybe the US doesn't have as much. So you look at oh eight and oh nine, like something like that.

Like where our financing system in our bank system is very highly regulated. So versus like the US where you guys have lots of small independent banks and different things like that. Like for us, it's like there's six major ones across Canada, across the whole country. Yes, there's B lenders and trust companies and that kind of stuff, but it's highly regulated. So it's in a way it could be, it's better in the sense that you're not gonna experience, I think in Canada, what we, what you guys experienced back in oh eight.

Chris Prefontaine: A little bit more steady.

Sarah Larbi: What's like an average property deal that you do price wise and like Brent, maybe run us through the numbers and what that looks like so we can dissect it.

Chris Prefontaine: Sure. So in my market, I'm always talking from my experience. So in our market, we're gonna be somewhere in the three 50 to 550 range. That's our sweet spot. Given that sweet spot, those three paydays I mentioned earlier, we run around 75,000 US, all three of those paydays combined.

We have students that run from a lower 45,000 up to a quarter of a million if they have a higher price range because it's just a percentage basis. So a typical lease purchase deal, we call it a sandwich lease, where we have the lease purchase and then we have the rent to own.

It's about a $75,000 deal. But the cool thing about that is I tell people, look, it's not 75 today, but you can sit there and if you get your first six deals, say on a spreadsheet and say, great, I now have this much coming up front. I know this much monthly. You can, living expenses. Now I have this forecast of two to five years with all this backend payday three coming.

It's pretty predictable at this point. Very proven and very profitable. That's a typical deal for us. Now, when you start talking about owner financing with that massive principle, paydown, different metrics here's the metrics on that. If the home is $200,000 or more so not that high end in the payment monthly to the seller principles of $900 or more, and you can get at least a four year term.

That's a six figure deal. All three paydays, a hundred thousand dollars in all the time. Three, all three paydays. And we have students that just go after that niche on purpose for that reason. And then to your point earlier, I think one of you said something about rural people moving outta the city, right?

We had a gentleman in Colorado, Chad, who he was previously doing more things that weren't rural. And free and clear. And all of a sudden with this change with Covid, his rural properties are off the grid. Properties that literally aren't even on the grid with electricity. Again, a huge demand because people are fleeing and he has got some phenomenal deals, all six figures and up, that's, it's a pretty neat model when you start thinking about that.

Sarah Larbi: When we go to the vendor Take Backs I like to call them vendor take backs, how are, so let's just say a student, or you've got somebody that's interested in figuring out this model. What is the first step? If they say, oh, I wanna really ultimately do that route of a vendor Take Back and not necessarily have to come up with all of my own cash, what's the process of uncovering and negotiating that and, maybe walk us through that piece.

Chris Prefontaine: In other words, literally speaking with a seller type thing.

Sarah Larbi: How do you uncover it? How do you create interest negotiates? What do you tell them essentially for them to say, wow, this makes sense.

Chris Prefontaine: This is all the sales we speak with too. To this question. It's always trying to find why they're, the motivation, why they're selling. Because people say do you try to convince them? Nope. We just try to find what their motivation is and then try to band aid that or fix that. So on a free and clear, it would be that the question right up front, Sarah would be, okay, I see you're asking x say half a million.

Do you need all that upfront or would it be advantageous, or could you wait longer term? Oh, take it over time. If you got your full price or more. And usually that gets their attention. Cause if they needed money, they would've presumably taken it out right? With a loan on the property. So if the answer is yes, or I'm open to it, then our discussion only becomes viewing the property.

Of course, virtual or in person. But then the discussion only becomes, if you were to do this, how long could you go? Some people will say I can't go 20. All right, great. So maybe we can go 15 or 10. Some people say I can't go more than two or three years. So you can just try to get that term in mind.

Why is that so important? Because if I'm paying monthly principal payments, and Sarah, let's say you said to me I could go 10 years versus a four year deal, that principal paydown over those extra six years is massive. So I can easily say to you you're asking 500. If I'm gonna pay you 2000 a month, I don't mind paying you an extra six months worth of interest in my mind.

12,000 extra dollars or whatever it might be. This seller's never gonna get a premium on the open market like that. Never ever. So that gets their attention. And so we just structure two or three different options showing 4, 7, 10 year terms, depending on the conversation. But each term that goes further out, the price goes up.

Sarah Larbi: So to pick, they're obviously in their best interest to say, wow, instead of getting 300,000 for this property, I may be able to get. Four 50, but it's going to be in 10 years from now, essentially.

Chris Prefontaine: That's a big jump. But yeah, I can get more than 300. Let's say I can go from three to 320 to 340, somewhere in that range if I'm pushing those three ideas, 450 to be really pushing it.

Sarah Larbi: I think that the big difference is our appreciation. Like just even just looking at history and you don't wanna bank on that, but I think that's one of the big differences too with Canada. Or parts of Canada. I can't say every part of Canada, let's just call it the G GTA and I would say within a couple hour radius from some of the major cities across the country are appreciated.

That 300 to 450 in 10 years, to me, like it could be, it's very probable that's what's gonna happen. But when you look at the markets in the US I would just say you guys have better cash flow in general, right? So like you can buy something for Americans with a lot of US down, but you could still get that 1% rule or that 2% rule. Where for us it's. It's not impossible, but it's definitely not common.

Chris Prefontaine: What we find with that's a good point to hone in on and peel back a little bit. What we find with that is when you have a buyer pool to back up to the earlier question, and they don't have a way to get the mortgage ready in their mind, like most of 'em have given up.
I didn't think I could do that or I was bankrupt and now I thought I needed to wait 10 years. Whatever their reasoning is, they thought they were done. Once you have that mentality and that hope, that need or that desire to get their family in a home and eventually buy again, they tend to not pay too much or not as much attention to the pricing.

They want a path. It's like when in the US when someone says I can't get credit cards anymore, and some company offers 'em this credit card at astronomical fees, it's not quite that much cause that's gouging, but the point is their mentality is different. Show me a path. And they don't get caught up on what the rent might be because they're in their mind, they're a buyer and they get the special path that they can go on. So that's what we find in all markets, actually.

Laurel Simmons: It's really being in a lot of ways it's being a psychologist, isn't it? It's really getting into the mind of the buyer and the mind of the seller.

Chris Prefontaine: Yes, you're fixing whatever they have that they perceive as a problem. Or I shouldn't always paint. It's not always like I have a problem. It's sometimes like the free and clear is, I have a goal I'm trying to get here. Could you help me financially? So it's a positive sometimes and sometimes a very stressful negative for either one of those parties. But yeah, we're just trying to, it's a win-win.
I call it a healthy relationship. I was a realtor for years. I sold hundreds of homes, as was my son. And when my son came and joined me back in like 2014, he said, wow, dad, this is so much healthier is the word he used. Because all parties win here. It's pretty neat.

Sarah Larbi: That's interesting. And one of the things that we started talking about as well, your books that you have, can you just give us a little bit of an overview of what information, maybe overview of the content that's in the books and what people can learn from reading them?

Chris Prefontaine: Sure. So real estate on your terms was the first bestseller. That was in 2017. We happened to revise that coincidentally started before Covid came out right after Covid just got released last month. So it's the newly revised real estate on your terms with added chapters about. It's driving in chaos, so it's very current. That book goes A through Z.

What we do that you and I just talked about lightly, but it goes A through Z. Where do we get the leads? Then what do we say to 'em then how do we structure the deal? How do you know? What deals with two structures? Is it a lease? Is it an owner financing? It goes right through that. And then this book actually, we added a lot by way of actual students in the field telling their story, the good, the bad, and otherwise, because I want people to understand that it's not always roses, right?

There's a whole chapter that talks about what can go wrong. We tend to be very open, very candid, and very blunt about that because there's just too much fluff out there, as you guys know. And so the book really goes in depth about that. And then the second book that came out was called New Rules of Real Estate, and that was co-authored by my son-in-law, Zach and my son Nick, and some guest contributors 24, actually, experts are in that book.

The reader now gets a chance to see different niches. Because they're not so naive to think, okay, you have to do what we do. You have to do terms. So we expose every niche in that book, almost every niche.

Sarah Larbi: Awesome. And I think the REITE Club Nation is gonna be able to access that as well on your website?

Chris Prefontaine: Just go to, all I have to say is they heard us on the show. To get a free copy electronically, just go to free,

Sarah Larbi: Awesome. Cool. Thanks so much Chris for that. That's really generous of you to offer that to our REITE Club Nation. Guys, go take a look and read the book and I'm sure you'll get lots of insights. Go ahead, Laurel.

Laurel Simmons: I just had a question about more the commercial side because we've been there's a lot of fallout on the commercial side of real estate these days, right? Because of a lot of places, closing businesses going under. It's really unfortunate. So I just wanted you to give us some insight as to what's going on down in your neck of the woods. Where, in terms of the commercial side, because it's one thing to go and ask for either a vendor to take back from residential. But what about the commercial side? How's that working?

Chris Prefontaine: It's actually become a bit easier than it was when the market was potter for them. Like my building that I bought, I'm at home today, but my building that I bought, As I mentioned lightly earlier, I bought an owner financing with a 20 year note.

The market is softer for commercial and for office, so the owners are more open to getting creative with the financing if they can maintain their price because they're nervous Right now I'd be, if I was them too, if I own a bunch of office buildings, I'd be nervous. So it's actually open the door to more discussion about creative real estate.

I'll give you a stat like in the early nineties. Maybe two or 3% of the transactions were done outside of banks creatively like this. That percentage is going up fast. I don't know the exact date, but it was in teens before Covid. So I would suspect that over the next decade you're gonna see across North America, you're gonna see a lot more deals being done, being completed on terms.

One of the reasons is what you just asked. So they're out there. My building's in an area on this island where most people would say no one's gonna do that. They can sell it themselves. No, the owner was seeking not only financing, but he said to me, Chris, I'm not putting a prepayment penalty on this, but I do not want to be paid off early. And he was 70, he gave me a 20 year note. He works for personal tax and estate planning. He did not wanna be paid off early.

Sarah Larbi: That is interesting. And you know what? In any good crisis, there's gonna be more opportunity, in my opinion. If you look at how you succeeded and it was, back in oh eight and oh nine, you started acquiring and you scaled from there.

At some point we're gonna see the aftermath of what's happening right now, and it's gonna be quite interesting because, Like our markets. It sounds like your market too, like everyone's just buying right now and just on multiple offers and get, trying to get in the market or trying to buy more and acquire and at some point that will subside, but I think in a good market.

Things are great, but in a market that's a little bit more rocky, that's where the VTBs, the vendor take backs those opportunities to talk directly with the seller and get the seller to hold the financing for the price that they still want, even though that market might not be there anymore at that same amount. That could be a huge opportunity for investors to keep their hand on the pulse and what's going on in the current market.

Chris Prefontaine: I couldn't have given more Sarah, I think in the next six to nine months, and I've told my community this over and over in the next six to nine months. I really feel like there's a big opportunity for people to change their life with real estate if they've been seeking to try to do that. And so a lot of people who maybe lost their job or always thought about it or think they may lose their job this winter, whatever it might be, this is a phenomenal time to get in front of that in the world for sure.

Sarah Larbi: It is quite interesting. Now, can you also share just what Canadian investors would need in order to invest in the US? Are you able to provide, I know you're not an accountant and guys like do your own due diligence, are we, so if we can't get something on terms or vendor take back as an example from a Canadian buying into the US from a financing point of view in some of your students, like what have you been seeing?

Chris Prefontaine: On these types of deals we're talking about?

Sarah Larbi: Sure.

Chris Prefontaine: Same exact setup as we are, just that they're doing it virtual, literally there's no other difference. And so what would be required? Money wise Train. They have to get themselves trained first, right? That's the big issue. It's not, can they do it, it's can they get trained? And whether it's me or someone else, I always say this, I always say three things. Find a niche you think you can get behind, you can be passionate about.

Find someone in that niche. Doesn't have to be me. It could be anyone that you can relate to from a value standpoint or whatever else. You, val you want to connect with. But then third, follow that with blinders for 36 months. If you do that, y'all have a great experience. I don't care where you're gonna try to invest. Doesn't matter in fact, you could use that formula for any business, not just real estate.

Sarah Larbi: Absolutely. Some great insight.

Laurel Simmons: That's the truth, isn't it? Like just focus. It's pretty simple. Focus.

Chris Prefontaine: Too many shiny objects.

Laurel Simmons: Exactly. All right, so Sarah, is it time for our lightning round?

Sarah Larbi: It sure is. So Chris, we are gonna ask you a series of four questions. You're gonna give us the first answer that comes to mind. Just keep it short and sweet. Are you ready?

Chris Prefontaine: I'm ready.

Sarah Larbi: All right. Question number one, what is the best advice that you have ever received from another investor or at a networking event?

Chris Prefontaine: Follow success, at least clues. In other words, a mentor, a guide, or a coach.

Laurel Simmons: Okay. Awesome.
Question number two. What's your favorite resource for real estate investing? And that can be anything, both training, event, person, what's your favorite resource?

Chris Prefontaine: Favorite resource right now. It's a program called FreedomSoft that we've built out to get all the stuff we need in real estate. Data leads, everything.

Sarah Larbi: All right, and where can people find out more about that?

Chris Prefontaine: I believe they can go to smart real estate I think it's a direct.

Sarah Larbi: Direct link. Okay. And question number three, what is the one attribute that has made you most successful in your opinion?

Chris Prefontaine: Similar to the first one, seeking training. I can look back and attribute training or masterminds to millions of dollars, literally. So training or mastermind environments. All

Laurel Simmons: The last question, what do you typically do on a Sunday morning?

Chris Prefontaine: Sunday morning Read.

Laurel Simmons: What do you read?

Chris Prefontaine: Depends. That's a good question. So it depends where I am in life or business, right? So right this second, I happen to be focusing on a company called Table Group. They talk about how to run culture in your business. When I'm done with that series of books, I might work on something else within either business or personal. But right now that's what I'm all about. They're all little parables too. They're really good for business owners or entrepreneurs.

Sarah Larbi: All right, awesome. Thanks for playing the lightning round. Chris, where can the REITE Club nation reach out if they want to know more or speak to you?

Chris Prefontaine: They can just go to the main site, There is a 30 or 35 minute free webinar that my son-in-law, Zach and I did. If they don't mind listening to me blab for another 30 minutes, they can check out that free webinar.

Sarah Larbi: Awesome.

Laurel Simmons: Can you tell us one more time, the link where our members can go to download the book?

Chris Prefontaine: Absolutely. Just go to

Sarah Larbi: All right, REITE Club. And you guys will have access to the free book that Chris wrote. So Chris, we always ask this at the end, what is your final last piece of advice for the REITE Club Nation today?

Chris Prefontaine: During these crazy times, just that you can do it the biggest thing stopping you is only you. And you have a nice time right now with the new year. Probably close whenever you're gonna hear this, that you can do it.

Sarah Larbi: Awesome. Thanks Chris for being on the show and for sharing a really cool strategy that is not that common. So thank you.

Chris Prefontaine: Thanks for having me. I appreciate it. Good to see you again.

Laurel Simmons: Wow. Sarah, like my mind, is spinning on all the information that Chris just gave us. What about you?

Sarah Larbi: Absolutely. It's a cool, neat concept by combining rent to own, essentially with a vendor, takeback, and a way for some investors to really not have much to put into the deal, if anything. The seller essentially gives the loan And it's quite an interesting concept. I will say though do your due diligence, of course, like their Canadian rules and regulations are different, taxes are different than the US, definitely do your homework before doing anything.

It's a really neat concept and Chris has done an amazing job and he works with some students that have been very successful and kudos to him. He's built an empire. He had a crisis. And built from there and, really tailored something that I think is quite niche.

Laurel Simmons: It's not that long really, 2008, 2009, and look where he is now. But I just find it really interesting that he saw an opportunity to leverage. People who have fully paid off their homes or and not necessarily their homes, any real estate they have, and how you can actually use that to benefit everyone, both the buyer, the vendor, and the ultimate buyer for the rent to own. It's just a really interesting concept.

Sarah Larbi: Absolutely. And REITE Club Nation, if you enjoy this podcast, please leave a rating and a review. That is awesome. It makes my day. I always check them and I'm like, yes, we got another one. So that'd be awesome. And Laurel, what do we say to the REITE Club Nation?

Laurel Simmons: Come grow with us.

Sarah Larbi: Until next week, see you guys soon.