Misconceptions About Your Down Payment, with Nick Prefontaine and Zachary Beach

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Episode Topic:

In this episode of Not Just A Transaction, hosts Nick and Zachary discuss the misconceptions surrounding down payments on a home. They explain why the majority of Pre Property Solutions buyers do not need to make an additional down payment when they get a loan. They also share some of the rare scenarios where a buyer would need to put additional money down. Nick and Zach also explain how buyers build equity into their homes during the lease term.

Glossary of Special Terms Used in this Episode:

  • Down payment – An initial payment made when purchasing a home.

What you’ll learn about in this episode:

  • Why most buyers who work with Pre Property Solutions do not need to put down an additional down payment
  • How you make payments during your lease that contribute to your down payment and help increase the odds of you securing a loan
  • What rare scenarios would cause a buyer to need to come up with an additional down payment
  • Why buyers can’t just pay their down payment at the end of the lease before getting a loan
  • Why your monthly rent does not go towards your down payment, and how it doesn’t lead to success

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.



Win-Win Situations, with Denise Rossi

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Episode Topic:

In this episode of Not Just A Transaction, host Nick Prefontaine speaks with a special guest and former Pre Property Solutions client, Denise Rossi. She explains how filing for bankruptcy prevented her from using conventional options to buy and purchase her home. Denise also explains how her family’s experience of working with Pre Property Solutions twice, influenced them to help other families find unconventional ways to buy and sell their homes.

Glossary of Special Terms Used in this Episode:

  • Lease Option – An agreement between a homeowner and a renter that gives a renter the option to purchase the rented property during or at the end of the rental period.
  • 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.

What you’ll learn about in this episode:

  • How Denise experienced a win-win of buying and selling a property with Pre Property Solutions
  • Why Denise’s declaration of bankruptcy prevented her from buying a property through traditional methods
  • How Denise and her husband help other buyers with their unique perspective of being in their shoes previously
  • What lessons did Denise learn from buying and selling a home with Pre Property Solutions
  • How Denise is currently helping buyers and sellers with lease options
  • Why there are fewer people currently looking for an unconventional sale

Resources:

Denise’s Bio:

Denise Rossi is a real estate investor, who has the unique perspective of being in her client’s shoes. She and her husband worked with Pre Property Solutions as both a buyer and as a seller. After going through issues, like many others, when trying to sell and to buy they were frustrated by the state of the current real estate and finance market. After finding a way to solve their problems by both buying a home through a rental home program and selling property now Denise is helping buyers and sellers out there to do the same thing find creative options to buy and sell their homes in the Boston area.

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 homeownership. 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 Beach 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 personal 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 him 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.

Don’t Let an Attorney Squish Your Deal, with Nick Prefontaine and Zachary Beach

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Episode Topic:

In this episode of Not Just A Transaction, hosts Nick and Zachary discuss how working with an attorney that is not experienced or specialized in real estate could ruin your unconventional deal. They also explain how working with inexperienced attorneys can cost you additional money and what questions you should ask when selecting legal counsel for your lease agreement.

Glossary of Special Terms Used in this Episode:

  • Lease Option – An agreement between a homeowner and a renter that gives a renter the option to purchase the rented property during or at the end of the rental period.

What you’ll learn about in this episode:

  • Why you may experience hiccups or challenges if your attorney is not experienced or specialized in real estate
  • How you could potentially spend additional money if you work with an attorney without real estate experience
  • Why asking two specific questions can ensure that you are working with the right legal counsel for your creative real estate deal
  • What steps should you take when selecting an attorney for your lease purchase or owner-financed agreement
  • Why attorneys without real estate experience may advise that you shouldn’t do an unconventional real estate deal

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 him 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.

Asking Complex Questions, with Adam Carroll

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Episode Topic:

In this episode of Not Just A Transaction, host Nick Prefontaine speaks with TED Speaker, Author, and Educator Adam Carroll. He explains how he utilizes his subconscious mind to work through complex questions. Adam also shares the importance of preparation for success, and how many hours he prepared for his TED talks. Adam also provides insight into why homeowners tend to be wealthier than those who don’t own property.

What you’ll learn about in this episode:

  • Why Adam believes it is important to always remain a student in life
  • How instilling small positive financial habits in children will set them up for life
  • Why and how should we ask complex questions to our subconscious mind
  • What lessons Adam learned from having two TED talks
  • How owning a home helps people become wealthier in their lives

Resources:

Additional Resources:

Adam’s Bio:

Adam Carroll is an internationally recognized financial literacy expert, author of Winning the Money Game: 30 days to 1000, and Mastery of Money for Students. He is a two-time TED Talk speaker, one of his top talks passing 4 million views. He is the creator of the Broke, Busted and Disgusted documentary which has been played in hundreds of high schools and colleges, and is featured on CNBC and available on iTunes. He is the Founder and Curator of www.masteryofmoney.com and a contributor to the Huffington Post. Adam has presented at over 750 college and university campuses, hundreds of leadership symposiums, and countless local and regional events. His passion is helping people build a bigger life, not a bigger lifestyle.

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 homeownership. 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 Beach 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 personal 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 him 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.

Am I Restricted on the Type of Loan That I Get or Can I Use Any Type of Loan Product as Long as I’m “Approved?,” with Nick Prefontaine

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Episode Topic:

In this episode of Not Just A Transaction, host Nick Prefontaine discusses the different loan options available for buyers at the end of their rent-to-own agreement. He explains what loan most Pre Property Solutions buyers are the best fit for, and how much of a deposit he recommends and why the amount you put down can be beneficial.

Glossary of Special Terms Used in this Episode:

  • Rent-to-own – An agreement between a homeowner and a renter that gives a renter the option to purchase the rented property during or at the end of the rental period.
  • Lender – A bank, credit union, or other financial institution that provides mortgage loans to qualified buyers.
  • Deposit – An amount of money paid as an installment towards a purchase.

What you’ll learn about in this episode:

  • How Pre Property Solutions help to educate buyers throughout the process
  • Are buyers restricted to a certain type of loan at the end of their rent-to-own agreement
  • What differences should buyers be aware of when selecting an FHA loan vs a conventional loan
  • Why is a conventional loan typically considered best for Pre Property Solutions buyers
  • Why does Pre Property Solutions recommend that their buyers get over a 10% deposit on the home
  • Why is an additional downpayment is needed for some buyers

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.

The Evolution of Buying and Selling Homes, with Chris Prefontaine

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Episode Topic:

In this episode of Not Just A Transaction, hosts Nick Prefontaine and Zach Beach speak with Chris Prefontaine of Pre Property Solutions. He explains why he started Pre Property Solutions after facing his own credit challenges, following the 2008 market crash. Chris also provides insight into why sellers are interested in working with the company, even if they aren’t in financial despair.

Glossary of Special Terms Used in this Episode:

  • Estate planning: the preparation of determining what happens to your assets in the event of death of incapacitation

What you’ll learn about in this episode:

  • Why Chris started Pre Property Solutions back in 2012
  • How Pre Property Solutions helps both buyers and sellers facing challenges buying a home
  • What are five scenarios where sellers would care about working with Pre Property Solutions
  • What has been the biggest evolution of Pre Property Solutions since including Nick and Zach in the business
  • How Pre Property Solutions can help you regardless of location or budget

Resources:

Additional Resources:

  • Pre Property Solutions website: https://www.prepropertysolutions.com/
  • Contact Us: https://www.prepropertysolutions.com/contact/

Chris’s Bio:

Chris is the three-time best-selling author of Real Estate on Your Terms: Create Continuous Cash Flow Now, Without Using Your Cash or Credit. He’s also the founder of SmartRealEstateCoach.com and the Smart Real Estate Coach Podcast.

Chris has been in real estate for over 30 years. His experience includes the construction of over 100 single-family and duplex homes (mostly in the 1990’s and selectively to date), has owned a Realty Executives Franchise (Massachusetts 1994-2000) as broker/owner which maintained high per-agent standards and eventually sold to Coldwell Banker in 2000. The 2000’s included coaching ½ million and higher REALTORs® in order to scale & automate their business throughout the US and Canada. He also participated (and still does selectively) in doing condo conversions (multi-family homes to condos) and “raise the roof” projects (converting single-family ranches to colonials in growth neighborhoods).

Chris has been a big advocate of constant education and participates regularly in high-end mastermind groups, as well as consults with private mentors. He runs his own buying and selling businesses with his family team, which buys 2-5 properties monthly, so they’re in the trenches every single week. They also help clients do the same thing around the country.

Chris and his family team have done over 80 million in real estate transactions. They mentor, coach, consult, and actually partner with students around the country (by application only) to do exactly what they do.

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 homeownership. 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 Beach 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 personal 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 him 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.

When I Get To the End of My Lease Can I Use Uncle Frank Because He Does Loans and I Want to Give Him the Business?, with Nick Prefontaine

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Episode Topic:

In this episode of Not Just A Transaction, host Nick Prefontaine discusses securing a loan before the rent-to-own agreement expiration date. He explains why Pre Property Solutions puts buyers in touch with lenders that are familiar with the process, and why you may want to avoid working with lenders you know that haven’t worked on unconventional deals.

Glossary of Special Terms Used in this Episode:

  • Rent-to-own – An agreement between a homeowner and a renter that gives a renter the option to purchase the rented property during or at the end of the rental period.
  • Lender – A bank, credit union, or other financial institution that provides mortgage loans to qualified buyers.
  • Deposit – An amount of money paid as an installment towards a purchase.

What you’ll learn about in this episode:

  • Why Pre Property Solutions reaches out 10-12 months before the expiration of an agreement to connect buyers with a lender
  • Why is it easier to work with a lender that is already familiar with rent-to-own deals
  • How buyers put themself at risk when they are not proactive about getting their loan
  • Why does Pre Property Solutions refer buyers to lenders even if they don’t get a referral fee
  • How many months could it take to secure a home loan from a lender

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.