In this episode of Not Just A Transaction, hosts Nick Prefontaine and Zachary Beach speak with Fresno, CA realtor Mike Makredes about how the “terms” real estate market positively impacts both buyers and sellers in the community. Mike explains how he helps buyers get their ducks in a row and move forward to a path of homeownership.
Glossary of Special Terms Used in this Episode:
- Equity – The difference in value between a home’s fair market value and the amount of outstanding debt on the home through mortgages or other types of liens.
- Default – A failure to repay a loan or complete payment terms.
What you’ll learn about in this episode:
- What requirements allow someone to qualify as an ideal buyer or seller
- Why “terms” real estate can be a good option for self-employed buyers without a long tax history
- How structuring deals properly from the beginning can save you if a buyer defaults
- What happens if a deal doesn’t go as planned
- Why Mike requires a non-refundable deposit from buyers
- How Mike’s “terms” real estate business positively impacts both buyers and sellers
- Mike’s Website: http://mtmpropertysolutions.com/
- Mike’s LinkedIn: www.linkedin.com/in/michael-makredes-8359211aa/
- Mike’s Facebook: www.facebook.com/MTM-Property-Solutions-Inc-1410920649238036/
- Pre Property Solutions website: https://www.prepropertysolutions.com/
- Contact Us: https://www.prepropertysolutions.com/contact/
Mike Makredes’s Bio:
Mike began his journey of real estate investing back in early 2017, with a clear vision to build and scale a company that will help all buyers and sellers in his community. With a sales and finance background, Mike was able to implement his knowledge and past experience into his real estate terms business. After two very productive years of learning the business and scaling in his own market, Mike left his W2 job and has been officially full-time since 2019.
Over the last several years Mike has helped families buy the home of their dreams and has helped countless sellers maximize the value in their properties. Mike’s next goal is to expand in other markets to continue to build on his vision helping families on both sides of the transaction. Mike is happily married to his wife Tiffany, and they have a son named Michael.
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 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.