REI never has to break the bank... You just have to BREAK the RULES - legally! "Can't spend what you don't have(??)", says you while confining yourself within the box. Chris Prefontaine teaches us how we can Bust Out of the Box with some Wicked Smart and Creative Financing Strategies you can leverage to build generational wealth, paving the path to true financial freedom! Chris is The Guru of Creative Financing, 3-time Best-Selling Author, Founder of Smart Real Estate Coach – a family business with his son Nick, daughter Kayla, and son-in-law Zachary. The family team coaches investors on how to properly scale and automate their businesses throughout North America — all without using their own cash, credit, or taking out bank loans to buy property. The Secret? With you as the buyer, your job is to convince the seller to “become the bank”, and it starts with good listening skills – details let you come at them either as a PROBLEM SOLVER or someone highly capable of helping them achieve their goals. Either approach always nets you Win/Win! Basically, you’re never leaving opportunities on the table when you can direct DEALS on Your OWN TERMS through Creative Financing Strategies! What does it mean to buy and sell Real Estate on TERMS? How do you do Seller Financing the right way? How do you control $60-80 million of real estate with your Wicked Smart Community with little to no money down and not signing on loans? Learn more from the source (+ GET FREEBIES)!!! Check these out to learn more about Chris Prefontaine and Smart Real Estate Coach! FaceBook: /SmartRealEstateCoachYoutube: /SmartRealEstateCoachInstagram: @SmartRealEstateCoach Grab Your FREEBIES NOW!!! FREE Best-Selling Books: WickedSmartBooks.com/UnstoppableFREE Master’s Class: SmartRealEstateCoach.com/Mastersclass Thank you all for listening and I will see you on the next episode. When you're ready, head on over to https://billyalvaro.com https://billyssecrets.com To get some neat (and FREE) Tools | Tips | Tricks to help you in REI!
REI never has to break the bank...
You just have to BREAK the RULES - legally!
"Can't spend what you don't have(??)", says you while confining yourself within the box.
Chris Prefontaine teaches us how we can Bust Out of the Box with some Wicked Smart and Creative Financing Strategies you can leverage to build generational wealth, paving the path to true financial freedom!
Chris is The Guru of Creative Financing, 3-time Best-Selling Author, Founder of Smart Real Estate Coach – a family business with his son Nick, daughter Kayla, and son-in-law Zachary.
The family team coaches investors on how to properly scale and automate their businesses throughout North America — all without using their own cash, credit, or taking out bank loans to buy property.
The Secret?
With you as the buyer, your job is to convince the seller to “become the bank”, and it starts with good listening skills – details let you come at them either as a PROBLEM SOLVER or someone highly capable of helping them achieve their goals.
Either approach always nets you Win/Win!
Basically, you’re never leaving opportunities on the table when you can direct DEALS on Your OWN TERMS through Creative Financing Strategies!
What does it mean to buy and sell Real Estate on TERMS? How do you do Seller Financing the right way? How do you control $60-80 million of real estate with your Wicked Smart Community with little to no money down and not signing on loans?
Learn more from the source (+ GET FREEBIES)!!!
Check these out to learn more about Chris Prefontaine and Smart Real Estate Coach!
FaceBook: /SmartRealEstateCoach
Youtube: /SmartRealEstateCoach
Instagram: @SmartRealEstateCoach
Grab Your FREEBIES NOW!!!
FREE Best-Selling Books: WickedSmartBooks.com/Unstoppable
FREE Master’s Class: SmartRealEstateCoach.com/Mastersclass
Thank you all for listening and I will see you on the next episode.
When you're ready, head on over to
To get some neat (and FREE) Tools | Tips | Tricks to help you in REI!
SUMMARY KEYWORDS
buyer, deals, years, people, properties, business, owner financing, owner, house, unstoppable, payment, shiny objects, financing, buy, billy, son, real estate, money, literally, mortgage
SPEAKERS
Chris, Billy, Outro
Billy 00:00
This is episode 72 Unstoppable REI Wealth. Today we're gonna be diving in deep with a gentleman by the name of Chris Prefontaine from Rhode Island. He's actually from Massachusetts you'll tell by his accent, but listen solid guy with high energy, it's gonna show you how he breaks down and controls over $90 million worth of real estate buying properties either with seller financing with 0% interest rates and or subject to the guy is a beast. He has a really good family-owned business in Rhode Island. He's been doing this for years, and in the 25 minutes that we spend together he really just hammers in and gives a ton of information in value on how to grow start, grow and scale a business buying property subject to or with seller financing. Hope you guys enjoy it. Welcome to unstoppable real estate investing wealth. My name is Billy Alvaro, aka the unstoppable VA, former billion-dollar mortgage banker gone bankrupt turn professional real estate investor, where each week you'll learn the tools, strategies, systems, and secrets myself and other highly successful real estate investing entrepreneurs used to start, grow and scale their businesses creating massive profits and how you can too, and we'll teach you how to put those profits to work. So you no longer have to get ready to finally experience financial freedom and generational wealth.
Now let's get started. What is going on everybody?
Welcome back to another episode of unstoppable Rei. Well, I'm your host, Billy Alvaro, the unstoppable BA and we are here today to bring the heat get back into some financing strategies and interview another expert of the elites. Today I'm interviewing Chris Prefontaine from Rhode Island Chris How are you doing buddy?
Chris 01:49
I am awesome. Thank you and you said that perfectly
Billy 01:52
Thank you so much because you know I screw everybody's name up I'm gonna talk face so So listen, I'm excited about this because you are like I don't want to use the word guru but you're a guru when it comes down to creative financing you're not a regular fix and flips buy and hold you're doing some creative shit out there. I want to get into that but first I want to get into how did you get into this business? How far how long ago how'd you get in and didn't want to get into all this creative stuff you deal with today?
Chris 02:17
So I'll condense this to like less than a minute because 30 and a half years ago I've been at this for a while but in oh eight after the crash it caused me to literally re-engineer everything because I lost everything and then some so that's what caused us to pivot to no banks no cash no signing personally ever prior to that I did a little of everything but that's how I got here today.
Billy 02:40
Love and what kind of value you and your team doing these days right now.
Chris 02:44
I think the snapshot someone has hit me with this I think we're about controlling about 90 million in real estate and we do not literally believe there's not a loan on any of them that were on anyway right? Because it's usually their seller loan sell alone or seller financing
Billy 02:58
Alright, so let's go into seller financing there are a lot of guys out there who were doing it I know offline you and I were speaking there are a lot of guys who were doing it incorrectly tell us about seller financing and how to do this right?
Chris 03:09
Well okay, so we acquire properties three ways lease purchase, where we the D doesn't transfer it's good for new people subject to existing financing staying in place numbers it stays in the owner's name even though we take ownership of the house and then owner financing that's how we buy when you and I talked briefly before the show we exit most of these just to keep this simple at this level not advanced rent on and the marketplace like you can I go on other shows and see people talking about this and it just makes me cringe because what they say is yeah, the red zone is good you just put the virus in the house and doesn't matter if they qualify. If they default you just do it again and collect another deposit and although they might be protected legally it's just morally and ethically bogus. So my son Nick runs the buyer side of things we were very specific about making sure the buyer that goes in that home is a buyer who needs time not want to be a renter that has had a 30-year history of credit problems that's not where you want to go. So that's we have about a two to 5% default rate it's not too bad I don't know what the government ones but it's not that bad. And that's just life events do happen right but for the most part, we get to the success point we got up to the finish line.
Billy 04:19
So this is interesting so your whole model is creative financing you're not doing any type of hard money no type of bank loans at all this is all sub to lease option
Chris 04:28
So to lease option owner financing, yes and we even niche the owner financing down deeper we target properties for the owner financing that are free and clear but a third of the properties in the United States a free and clear We love those because they usually don't need quote-unquote the money now and they'll do a longer-term they get their price my office building was bought the same way I'm talking about so it's a great strategy.
Billy 04:49
This is insane. Alright, so take us through what your lead generation process looks like to target? You know, you're buying subjects who owner financing lease options, what does that look Like, yeah,
Chris 05:01
So each one's a little different, right? Because nature is just sort of preempting it with this, the nature of owner financing free and clear is such that they're not stressed. They just want to accomplish a goal the market will give them. But the nature of sub twos is I'm stressed and I need debt relief yesterday, please take my house to two totally different avatars. But how we get them is all the same. We talked to expired listings, even in hot markets, we talked to for rent by owners, because there's a lot of Thailand loads up to COVID. And we speak to for sale by owners. And then we buy two lists. I mean, this goes back three decades, we buy free and clear, when we buy out of state slash absentee owners, that has always produced well for us.
Billy 05:39
And so the free and clear in the United States are good for your owner financing this sub shoe you go you do any Pre Foreclosure list that he sub twos, or nothing like that way down.
Chris 05:46
I mean, some of the students do, but we just don't add enough leave lead flow. It's a valid source.
Billy 05:51
Yeah for sure. Alright, take us through the mindset. A lot of people who tried to get into the subject of business or the owner financing business, they can't get over the hump by trying to quote-unquote and convince the seller to actually become the bank. Right. So let's go through that process of what that looks like.
Chris 06:07
Here's why I'm chuckling. And it's nothing against anyone that has a problem with this. But please understand, it's not difficult. Here's why. If you approach calls every call, frankly, I'm looking for someone I can help. You're not looking to convince anyone or anything, keep in mind, that you're called a buyer for a reason. You're not selling them on anything, you're a buyer, they need to tell you what their problem is, or in my case, when I bought the building, he's a real estate investor, and you wanted what the market wasn't gonna give them. So in that case, I'm helping him achieve a goal. So it's either you're solving a problem or helping them achieve a goal that they otherwise can't do in the marketplace. When you have that you're golden if you don't have that don't waste time. In other words, if someone says to me, yeah, I gotta buy a home next week, Chris, for my family soon as the sells, I need every penny of equity out, I might you buy it Good luck if something falls through common. On the other hand, when the building owner had his building on the market, he wasn't getting I think it was 550 back in 18. He wasn't getting it. So I said I'll pay your price out. I have no problem with it. But I need my terms. And that was I wanted some major principal-only payments, know what no interest. And I wanted 20 years he gave me both of us. I gave him his price. Jim saying all you doing is listening.
Billy 07:14
And he had no problem actually having a bank on that deal. That 550 purchase with zero interest. So I just want the listened rs to understand. Every dollar you're paying him each month is going as a principal paid out on every residential house.
Chris 07:25
We've done. We've done it that way. This one was a hybrid because he was so sophisticated. Here's what we did. He said to me, Well, no, of course, he's a math guy too. He said no, of course, I need interest. And I said, Well, we don't buy that way. So I was just kind of doing the set. You know, we never by the way. So we said let's do this. For the first two years, my downpayment, we broke the mold because of my own office buildings I did put money down my down payment, and the monthlies were all principal so I hammered the principal way down to the tune of like 90 grand and then we took the rest of that and amortize it so he was happy and I was happy.
Billy 07:57
Good. So it worked out for both of you guys to talk to us about traditional real estate deals. How will your team, your acquisitions department, and how are they pitching this to the end buyer of the end seller rather than giving them a monthly payment with no interest? How does that conversation happen and what are the benefits to the seller to take a zero interest rate payment.
Chris 08:17
Yep, yep, usually, a couple of things, first of all, is price call it ego call it they want a good return because they won't have something whatever it is, prices usually their hot button like that guy. But this guy had two other things that come up a lot with owners like this that have pretty financially savvy tax issues a big one so they've spread that over time. Number one and number two, trust and estate planning this guy passed away several months ago, I think he knew that he had some cancer issues. So he wanted his wife and his son set up not to run a building that didn't know how to run but to receive payments. So literally passed away in February so I got to think he kind of knew that he had some stuff going on but to answer your question it's all of those things they want to prolong that they want to have they don't want to claim interest income if they can get a nice premium on their price they don't want to be doing that every year so there's a lot of little nuances like that on the ones that are free and clear different animal it's up to obviously
Billy 09:12
Right so let's say with a free and clear so what I hear you saying is if you can give them you're almost building in the interest if you're giving them a higher purchase price you go with 20,000 over asking but because you're doing principal only you're paying that down quickly and then your principles just catch up in their head they're like I'm getting $20,000 more than what I'm actually asked for and don't have to include the interest payments with tax returns it's a win.
Chris 09:34
Yeah, we'll be around and they prolong they spread out the cap gains, right, depending on how their account wants to do that.
Billy 09:40
Yep, yep. But yeah, so taking it all up front to take it out over time. So the free and clear stuff I got talked to us about the subject to subject to
Chris 09:47
Again, totally opposite in the coin that usually it's someone I'll give you some examples. It's always best. So we had a student just last month Michigan, sad story, but these are coming up now because of COVID. She had a first that was only like 600 bucks a month it was tiny and the second that was also tiny like 200 something bucks a month. Sadly, after the forbearance kicked the can forward, she couldn't afford it and stopped paying it. Now, as we all know, that would be foreclosed on her credit screwed up and our life is screwed up for three to seven years depending on what she did and what she does. One of my students Robert and I went in because we do the deals with these guys so that they learn on the fly. Just the fact that we're going to catch up for a small raise, I'm talking like nothing five or six grand, so does again break the mold of no money down but because we have a huge upside, I think she owed maybe 70 or so the house is worth all day long. 140. So it was a no-brainer to find that arrears money. And what she liked Billy was she liked it, we exit by helping buyers that need that on the ramp. She literally said This is why I'm going to you guys because people try to combine stellar houses and didn't really Kia or short sell. And that's why she went with it. She just liked the energy of healthy when both sides.
Billy 10:57
Yeah, that's so important. Dude, that's so important. I don't want to really get into the lease option side because some too, let's flip over. Now let's go on to the back end and with your rent to own, what's your process, because this is really the back end of your business has to be just as strong as the front end of your business. Like you're acquiring properties, you're probably acquiring a massive list of potential buyers you want to put into these properties. Is that an accurate statement?
Chris 11:21
Yeah, the buyer list is huge. Now I remember, gosh, after the crash, when I started this, I remember being excited about 25 buyers, I think we've got like 6000 in there now. Wow. So the backend is interesting. So, my son, Nick will qualify them, they have to jump through a bunch of automation before they even get to the point of applying when they apply, they're going to go through a regular sort of quasi underwriting process, not with us with a third party to check out front end back end, housing ratios FICO score, etc. With the caveat that we understand that one of two things are happening right now, primarily these buyers, one, because of COVID. A lot of entrepreneurs are saying To hell with a job, I'm going to be an entrepreneur, they got cash, they're good buyers, but they need two years of seasoning to go get a loan, most of them. So those are great. They and most of them didn't know that they went to get in and get a loan and know the like, show me your income for two years. So we love those buyers, they just need a set of two years, the second set of buyers are people that may be because of COVID. But this has always been going on, they have credit issues, right death, divorce, you name it. So we give them that on-ramp, but they have to go through the credit enhancement program and have accountability steps where we have a portal. And if they get off the program or screw up or delay we know it and we call them on it. As part of their agreement, their purchase option is that they will complete that. If they don't they lose their option. So it's a serious thing we've created in trademark and United States, the three Payday system, which are those buyers putting money down, no, they have buyers, they have skin in the game, that's nonrefundable. The monthly spread between what we pay on the underlying debt and what they're paying us. That's payday too. And pay three is all that principle pay down that we talked about in the market when the price and that's at the end of the deal. So that's like the standard exit. If we do have if we're sitting on a sub-two, though, or a long-term owner financing deal and that buyer proves themselves so we'll give them a carrot and say, Hey, you get your deposit up to x, you never miss a payment. We'll owner finance you now take you out right Joan? You'll never get a bank loan or try to. So we just started doing that like three years ago.
Billy 13:22
Beautiful. We do a rap you do you get down?
Chris 13:25
Yeah, good. Yeah. And that way, it's two things. One, it's long-term for us. I call it wealth stacking. Because when a student comes in with us, they want to get deals going right away. I understand that. But as soon as they get like five to 10 properties in their portfolio I started teaching them how to take some of those out and make them longer-term deals.
Billy 13:40
Tell me you mentioned the software, is this software that you created that you put these buyers through? Or is it third-party software that you that you're leveraged to make sure that it's mostly third-party people?
Chris 13:49
Good question. Most of the systems internally were built, but that's just you know, checklists, automation. But most of the other people that do the screening and the mortgage officers that help us are all third-party or third-party guys.
Billy 14:02
And there's no software you said you were taking them through something. That's just the internal shit that you were doing. Yeah, yeah. All right, good. All right. So back end you have you I don't know how many buyers you said, how many units do you guys currently have under management? No, it's about $90 million in total value. How many use that equates to?
Chris 14:21
Well, we have gotten our family team we carry somewhere between 50 and 60 properties at a time ish. And then the community because we partner on all these deals with them. The community does another 10 to 12 a month conservatively. You've got about 170 of these, we call them associates out in the field who have an associate relationship I'm calling upon it but for them to understand what's theirs, but they call their associates and they do deals with us and they rev share until they get to a certain point and then they’re on their own if they want
Billy 14:49
I love it and those rev shares that go on for the life of that particular property that you get that deal.
Chris 14:54
Yeah, good question. 1010 deals without that deal live with us. The two of us Yeah.
Billy 15:00
How do you do the rev share 5050 between yourself and the student?
Chris 15:03
Depending on what level would get different participation levels, some people are more aggressive and would rather pay some upfront and go, Hey, I want more. So my split, you know, and others go, I just want new deals with you, I want to learn and I'll have that much money, so just depends. Got it.
Billy 15:16
Let's get into your course. So tell us about what you guys do on the coaching side.
Chris 15:20
So the coaching side, I'm big on free, Billy, so I'll give you a link for your listeners later, too. But I'm big on free because I want people to like, and understand what the heck they're looking at. There are too many shiny objects in real estate, as you know, and I want them to be gone. I'm committed to Chris for three years minimum, I'm in the supply not to dip my left toe on and try and so I want them to go to YouTube. And there are 150 deals posted maybe more. Now. We do that every Sunday. So they can go we're like we expose everything. We're from New England, and we just tell it like it is like if the deals suck, we say this is here's where we screwed up. So they can go and free do that. That there's a Master's class I have, again, I'll get at the end that's free. But once you get through that, and you go, Okay, this is it. I like the win-win. I like that healthy relationship, then they can go through our academy. And our academy really focuses on literally from Legion, which you started asking all the way through to my son teaching you exactly what to do to exit that deal. It's like, Gosh, 11 or 12 mods, all the agreements, it's a pretty massive course pretty robust, pretty intense.
Billy 16:21
And with that, is it a drop-in where it's online? They could drop in whatever? Or is it group coaching, how's it set up?
Chris 16:28
After that Academy, they decided they want to go do deals on their own, but they want to fast forward it and in my opinion, not leave any money on the table and do deals with us. And then they'll apply for one of those levels I was referring to earlier because we kind of like our employees, our students, we go by our values so like we've said no to people, it's just if it's not gonna fit or it's gonna pollute the community we just say no. So it is a very tight community wicked smart community and yeah, they love it. It's like family.
Billy 16:54
I love the name by the way wicked smart.
Chris 16:57
It's got the why we finally frickin got that and trade market.
Billy 17:02
Yeah, wait, man, how can we bad that for?
Chris 17:03
Wicked Smart was trademarked? And then the company name changed? Probably only a year and a half ago. We've been smart real estate coaches forever.
Billy 17:11
Yeah. Yeah. Good, man. So talk to me about the structure of your business Fit Small is a family-owned business. Right?
Chris 17:18
Yeah, my son-in-law, Zach is a partner and the failed kind of duplicated me and our business. But in the coaching world, he's the CEO does a great job. My son, Nick, in both businesses focuses on just the buyer piece, a very well-oiled machine. He's got all of that. And then a great team that we built around us. But it started with that and my daughter, but she now has two great kids. So she's not as active but the three of us are super active.
Billy 17:43
You have a wicked family business going on there. Yeah, we do. I want to dive in deeper, we touched on I know you said you take people through the platform, the back end, but what makes your business special unique with your son and that back end, really honing in on the buyer piece because like a lot of wholesalers their tour if you want to go build your business, you have to have a really good buyer's list and get the product but make sure you have buyers in the back end. Just I know you're getting these people going through the underwriting and their mortgages, but how intense is it for them to get qualified? And what does it look like they go in like a portal on a list when a house comes up to you blasted outs and I'm like
Chris 18:21
So general, I mean, peel back a piece of this. So we get a house under contract. Today, we use the app folio platform and if you're familiar with that pretty popular app folio has a great marketing piece to that so once it hits that folio when we launch it, we call just launching his like 20 portals online. But the big difference is we're offering terms we always say things like no immediate bank qualification necessary no bank or necessary. So you're getting all the buyer benefits without getting that loan yet. Once they raise their hand go, hey, I want to see a property my son Nick has a series of voicemail and text drips. So they gotta go take action, they gotta go watch the video so they don't call all the same questions. And then once they get through that they can see the property and fill out what's called the next step form like a mini-application. Yep, he gets that then he's on the phone live with them if they have you know, generally speaking, enough income generally speaking good longevity in the jobs in the downpayment is key because that skin in the game if they have that, or at least worth talking, he'll call them and schedule a face to face or these days zoom and see if it's worth going to the next level on the more popular houses. We'll get three or four of those and just like any other deal they'll kind of Round Robin and see we've come up with a loss down payment. That's a given everything else being equal. Yeah. And then while that's going on in order to get approved, they'll go through my credit team, Paul Ritter and gang been using them Gosh, for like 13 years or so.
Billy 19:47
He was a mortgage company who's doing an underwrite for you.
Chris 19:50
He used to be 27 years as a mortgage rep. Now he just does this credit enhancement side and seasoning and then kicks us back a what we call a mortgage right? A plan. So your eye buyer, we get a plan back, you know, 2030 pages say, Hey, we spoke with Billy, here's his game plan, he'll be mortgage ready in blank months, and then we fit you to a house that that term will fit into.
Billy 20:13
I love that. Is that a product that he actually put together that you guys are leveraging that mortgage-ready product?
Chris 20:17
I think he does have some proprietary software, he uses nuts, not ours. And I don't really like they the arm's length of that too. I like to have someone else qualifying and doing all that.
Billy 20:29
Absolutely. What do you what is your team look for regards to disposable income with these people who are coming in, they're making $5,000 a month, they have bills of, you know, $2,000 a month, how much disposable or how much money on top of their mortgage payment and current payments. Do you want to see that they have readily available if you even underwrite it like that?
Chris 20:46
Nick does a few things sort of he does like Bernie just takes a quick glance at as far as the monthly income buying, they don't have a load of debt he wants to see three times whatever we're looking for monthly like their monthly income, ballpark, and then that gets him into the next level of okay, you're gonna need 10% down for your loan, we're gonna need that over time. Whether you have a ticket into the house or not, you never gonna get into the house with less than 3% No matter how strong you are. But over time, you've got to have a plan with your tax returns with retroactive pay whatever you have coming up, you got to increase your deposit over time. So we get you set up to win number one, and number two, it does get them more invested in the home. And number three, it's good for us. It's just a win-win system.
Billy 21:28
I love it. The question I have for you is doing this owner financing sub-two. It seems like a lot more work than taking in a property renovating and selling it. We're taking the property and keeping it as a rental and renting out seems like just a lot of work. Speak to that. Yeah.
Chris 21:46
Okay, so two things one is the biggest asset is the paydays. You know, I did a lot of building and a lot of flipping, I did hundreds of homes from the ground up from dirt up. The fact is, I loved it. In fact, as you and I know, it's good money in it. But every January literally I remember like I just say I gotta go do it again. Like I gotta go recreate all that again. So that's why we did the three paydays come out of the crash. I just didn't want to do that anymore. I want to have more longevity and more income than if I get off the treadmill for six months. Literally, just stop for six months. I got my spreadsheet. I know my paydays are coming in. But I'm cool. Yeah, as far as the keepers the buying hold, we do some of those. So we'll pointedly the office buildings different. But on a house will pointedly say, Hey, this is a great one to rent or this is a great one for VRBO. So we'll do those very, very selectively. Now again, what we're teaching in our main model is they can get these big paydays going in the course of the two to five years until we get more advanced.
Billy 22:43
I love it, dude. I love it. Talk about your coaching. Just give everybody a shout-out. Where do they go? If you want me to get a coach from you?
Chris 22:50
Yeah, so a couple of things. I wrote down a link for you. They can go to wicked smart books.com forward-slash unstoppable, wicked smart books.com. Forward slash unstoppable. Today is not always that. That's me. I'm Satya lake. It's for your tribe only. So I thought was a really cool fit for you. So the reason is, so many people say Oh, my free book and you got to do it. You got to put a car in for shipping drives me crazy. So we're not gonna put a card in. It's not gonna cost 10 cents, we will get you out a couple of books, actually. But you don't have to go to Amazon and buy the best sellers. And then if you want to get to that match this class I mentioned, just go to smart real estate coach.com forward-slash masters class. And if you don't mind, listen to my New England rant for an hour. You get a lot of info on that. You'll decide if you want to go further.
Billy 23:36
Listen, I can just tell just from your vibe and talking to you. We've been on now for 25 minutes. You definitely have the energy. You definitely have the expertise like you know what the hell you're doing. I don't know how old you are probably about my age. It looks like you were fucking great shape. So you got the mind the body, the spirit, the business, the family. Like it's all together for you, man. You're on. You're on fire, bro. I'm coming.
Chris 23:55
Appreciate it. Appreciate it. I'm 56 I don't know. I don't know where you're pushing. But the 50s Yeah.
Billy 24:00
50. I'll be 53 So we're right there.
Chris 24:03
There you go. Yeah. Again, it's all just one number. Now it's like batches of 10.
Billy 24:09
It is your Is there anything? Chris? Do you want to leave off our listeners? He added a lot of value today. I mean, this was hard-hitting really quick tons of information, like no BS, no fluff. You just brought it for 25. You did? It takes certain people two hours you did it. 25 minutes that well on the mainland.
Chris 24:23
I talk fast. I would just say this because there are so many shiny objects. And because I'm not so naive to think oh, yeah, everybody should do what I do. I mean, I'm biased toward it, but I know that that's not reality. So do this. My only advice is three things. One, pick a niche that you really can get behind. Some people love helping people. Some people rather just stay by the computer and flip land. It's okay, whatever your personality is. Second, find someone who is so important. Find someone in that niche that has gone through at least one or two cycles and some life events frankly, because then you have a mentor that's not gonna show you how to do a deal. Anybody can do that. You have a mentor that can bring you through the challenges that are coming like you're gonna hit stuff that you don't know what to do. And so once you find that person morally, ethically you get behind them. Then third put the blinders on for three years bare minimum of three years, you're old enough to know Billy, Brian Tracy. Of course, people wouldn't. Brian was on my show. And I told him that three-year thing because I said, I don't want people getting a curveball and then like, quit, and he said, okay, but that's not right. That's not enough. I said, why he was the first person to challenge me. He said, It's seven years, he said, Chris, I'm 82. Here's what they're gonna go through two or three years, they're gonna suck two or three years, they're gonna say, Ah, I'm starting to make money. And then the last whatever, one to two years, they're going to create wealth, if they can do it for seven years. That was his opinion. So I've been screaming about that because I think he's very spot on.
Billy 25:44
Yeah, that's spot-on information, man. I mean, the 10,000-hour thing, you really need to be into it, and focus in on your craft and hone in and, and I know in the beginning, when I first started doing this, I was shiny objects, like I was doing a bunch of little things, I cleared my plate, focus on one thing, did it well, systematize it, got myself together, hired it out, set up the next division and, you know, 13 years doing this, and I'm happy to say the business could run without me. I don't leave any in the office. You know, we went we just got back from Puerto Rico for a month for two weeks. And it's this week. Because we build a sustainable business that actually is a living breathing organ. It's an organization that can run without me, which is a fantastic feeling.
Chris 26:23
Okay, I love it. Congrats. It's awesome.
Billy 26:27
It is brother. Thank you. Let's say you've been wonderful love having you on love your energy. We definitely have to connect and stay in touch. And thanks again, man for coming on. Appreciate you. I look forward to it. Thank you.
Thank you so much for listening to today's episode of unstoppable real estate investing wealth. My mission is to give you my listeners the blueprint for success, the insider secrets for starting, growing, and scaling your real estate investing business, so you could experience and live an unstoppable lifestyle. I've made it simple for you to catapult yourself to success.
Go to billysecrets.com, and B I L L Y secrets.com. There you will find every single tool, tip, trick strategy system, and secretly used to make millions of dollars as a real estate plus everything my team uses, and my guest uses all in one place for you to tap into the toolkit to start, grow and scale. Real estate doesn't business. I really hope you implement what you're learning. I hope you utilize these tools, tips, tricks, strategies, and secrets.
And I hope to see you in the next episode. God bless bye bye