How Does Forbearance and COVID-19 Affect Both Buyers and Sellers, with Nick Prefontaine and Zachary Beach

By August 11, 2021Uncategorized

Episode 38:

Episode Topic:

In this episode of Not Just A Transaction, hosts Nick and Zachary discuss the impact that the COVID-19 pandemic has had on home buyers and sellers. They also share the positive effects that buyers have experienced during this time, and what they expect to see in the market in the future.

Glossary of Special Terms Used in this Episode:

  • Forbearance – Temporary financial relief from the obligation of making a payment on a debt. Forbearance is an option for a lender or creditor who wants to extend the opportunity to postpone repayment to a borrower who is experiencing financial difficulties or personal hardship.

What you’ll learn about in this episode:

  • What are the two ways that sellers were affected by COVID-19
  • What are the two solutions that Pre Property Solutions can offer homeowners struggling with the effects of the pandemic
  • How COVID-19 has affected buyers searching for a home
  • The positive ways that buyers have been affected by the pandemic
  • What Nick and Zach expect to see in the market in the next two to five years
  • Why Pre Property Solutions buyers are walking into homes with equity

Resources:

Nick’s Bio:
In 2003, Nick Prefontaine was in a snowboarding accident that left him in a coma for over 3 weeks. The doctors told his parents that he probably wouldn’t walk, talk, or eat on his own again. Less than 3 months later, he was running out of Franciscan Children’s hospital. Now Nick speaks to groups that benefit from his message of overcoming adversity.

Nick grew up in the real estate industry and got started at an early age. Most notably, he was knocking on Pre-Foreclosure doors at 16, doing up to 50 doors a day. This experience helped shape Nick’s real estate career. When someone opens the door you better have something compelling to say.

Now, Nick specializes in working with lease purchase buyers to get them into a home and on the path to home ownership. That includes working with them throughout the entire deal which ends in them being able to get their own loan. Getting buyers to the finish line is something Nick and the entire Pre Property Solutions team take pride in. That is something that separates them from their competition. Regardless of a buyer’s credit situation, he looks at their complete financial picture and comes up with a plan to get them into a home.

Zachary’s Bio:
Zachary is an Amazon Best-Selling Author of The New Rules of Real Estate Investing and revised edition of Real Estate On Your Terms. He has been an authority in real estate for 7 years now and has personally completed hundreds of real estate transactions and has mentored investors to complete thousands of transactions.

At the age of 25, Zachary decided to leave the world of bartending and personally training and jump into the family business. Now he is an equal partner and runs the acquisitions department, focusing on helping sellers accomplish their goal of selling their property.

If Zachary is not working, you will find enjoying the outdoors or spending time with his wife Kayla and two kids Remi and Bellamy. His passion for family and business is what keeps him motivated and excited to take on each day.