WICKED SMÄRT MONTHLY
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RUNNING A BUSINESS What Steve Prefontaine Taught Me About Work Ethic
People ask me all the time, “Are you related to Steve Prefontaine?” If you aren’t sure who Steve Prefontaine was, I’ll give you a little background. He was a decorated Olympic-level runner from Eugene, Oregon, who set American records in every race from 2,000–10,000 meters during his running career. He was known around the world for being an aggressive front runner, insisting on competing to utter exhaustion and never relinquishing leads. To him, running equaled life. Though I bear no relation to Steve, I’ve always considered his work ethic to be truly inspiring — it’s a value system I strive to emulate in my own endeavors. Our Associates at Smart Real Estate Coach know through working with me that I foster real relationships with real clients to get real results, but not everyone is aware of the journey I took to get to where I am now. Much like preparing for and then competing in a race, my career in real estate has taken time, focus, dedication, and most
importantly, support from my friends and family.
This training continued through the next several decades, during which time I became quite absorbed in the real estate sphere. It has always been a part of my life, but my first real foray into the business began when I started tying up single lots with no money and packaging new construction homes for sale. I had quite bit of success during these early years; however, just as it is with anything else in life, I had to jump over some hurdles along the way. Real estate investments are so interesting because they can be quite lucrative, but they can also wreak financial havoc if buyers don’t know what they are doing. I know this because I experienced it myself, but I took these valuable (and sometimes costly) lessons, and I decided that I wanted to help others avoid such pitfalls. In 2012, one of my good military friends had just returned to Rhode Island after a tour overseas. In an attempt to
I became immersed in the world of real estate at a young age. Through watching my father work hard to understand the ins and outs of the market, I was exposed to the processes of the Realtor world: how to go about buying “A lot of companies try to separate business and family, but to me, that combination is what makes our business unique.” land, getting the proper permits, etc. I watched, I listened, and I learned. It was those early experiences that taught me what it meant to be a good mentor and coach all these years later. You could say that in the race to start Smart Real Estate Coach, my early experiences with my dad served as my initial training.
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How We Helped Our Clients Reach Their Goals THE RESULTS O
Here at Smart Real Estate Coach, our most important goal is to help our clients reach their own. By constantly innovating to improve our coaching and mentoring tactics, we teach clients how to get deals done, even if they don’t have any prior real estate experience. We know that our own success relies on the success of our Associates, so we like to share real-life examples to demonstrate those results to others. Mike Makredes, based out of Fresno, California, explains the real results he experienced after learning from our coaches.
adjust back to civilian life, he expressed his frustration in trying to navigate the housing market. I had coached others in similar situations, but my friend’s plea really encouraged me to take my coaching a step further. According to the Housing Assistance Council, “approximately 15,391 Rhode Island veterans live in homes with one or more major problems of quality, crowding, or cost. Housing affordability is the greatest housing problem among veterans, and roughly 32.7 percent of Rhode Island veterans pay too much for their housing.” My experience mentoring him really catapulted the start of Smart Real Estate Coach. He inspired me to push harder, learn more, and try to be the best at helping others reach their goals. By the end of 2013, I had 12 deals averaging $50K each. But as more and more deals closed, I realized I needed help. My son, Nick, came on in December 2014, followed shortly after by my daughter, Kayla, and her husband, Zach. The fact that Smart Real Estate Coach is made up of my own family members is my favorite aspect of this business because it facilitates a trustworthy environment on multiple levels. I trust them to put in the effort required to help an Associate reach their goals, and our Associates trust our team because they know that we work together seamlessly. A lot of companies try to separate business and family, but to me, that combination is what makes our business unique. We hold each other accountable while simultaneously offering support. And in the race to build our business, accountability and support are 100 percent conducive to growth, success, and getting real results. Regarding his love for competing, Steve Prefontaine explained, “A race is a work of art that people can look at and be affected in as many ways as they’re capable of understanding.” Now, I may never know as much about running as he did, but in my race to become a better coach, mentor, and real estate investor, I’d say that understanding the needs of my family and the needs of my Associates is by far the most important thing I have accomplished.
STUDENT C
Being mentors in the terms business, we always encourage both our prospective and existing Associates to ask questions regarding any aspect of buying and selling on terms. As it is with everything
else in life, learning a new trade takes time, and initially, the systems might seem far more complex than they actually are. That’s where our coaches come in. For this edition, we have gathered two of our most frequently asked questions and offered some feedback that should be helpful regardless of where you are at in your buying and selling on terms voyage.
DO I HAVE TO DO REPAIRS ON THE HOME WHEN I BUY IT?
If you are planning to do repairs on a newly purchased home, you are 100 percent off track. No one should do repairs on homes they are planning to install a tenant buyer in. If there are any repairs on the property that you deem
–Chris Prefontaine
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REAL REAL ESTATE “2018 couldn’t have started any better. Not only did my wife and I have our first baby, but I was able to close two deals,” Mike recalls. “Both homes were on the market for about the same time (about 60 days) with the holiday season slowing down interest for about a month. Right after New Year’s, my phone wouldn’t stop ringing on both homes! The Smart Real Estate family was there whenever I needed them for any question or issue that came up during both transactions.” “Then, later this year, I closed my third deal. This home ended up having multiple buyers interested, which created a bidding war. We went with the qualified buyer with the highest down payment, which equaled $80,000 over three separate payments in only six months! So we are basically getting all our profit on this home upfront. All of this is so crazy to me, considering the fact that I started with zero real estate experience. This couldn’t have been done without the help of the Smart Real Estate family, who helped build my confidence and made me feel like a seasoned real estate veteran.” If you or someone you know is looking to learn more about making money in the real estate investment business, visit our website at SmartRealEstateCoach.com or call us at 855-667-7336.
TAKE A BREAK
Beans and Greens RIGATONI
RNER
Inspired by Bon Appétit Magazine
INGREDIENTS
• 12 ounces rigatoni pasta • 1 bunch Tuscan kale, rinsed
MY ANSWERS TO FREQUENTLY ASKED QUESTIONS
DIRECTIONS • 1 15-ounce can cannellini (white kidney) beans • 2 tablespoons extra-virgin olive oil, divided • 1/2 teaspoon crushed red pepper flakes • Juice of 1 lemon • Salt, for pasta water and to taste • 2 ounces fresh grated Parmigiano-Reggiano (optional) 1. In a large stock pot, boil 6 quarts of liberally salted water. On another burner, heat a large skillet to medium-low. 2. Add pasta to boiling water and cook for 3 minutes less than the package recommends. 3. While pasta is cooking, add beans, red pepper, and 1 tablespoon of oil to skillet. Cook until lightly browned, about 5 minutes. 4. Add cooked pasta, kale, and 1 cup pasta water to skillet. Toss vigorously as kale cooks, about 4 minutes. 5. Transfer to bowls, top with a squeeze of lemon, sprinkle with cheese or salt, and serve. 3 855-667-7336
necessary, such as painting, carpets, or flooring, you should have the seller take responsibility for those repairs. Another solution is that if you are filling a home with a tenant buyer, they will be taking the home in the condition that it comes in, and therefore, the onus falls on them to take care of any desired restorations. That may seem like a negative, but we show you how to market it as a positive. The bottom line is that you should not be spending your own capital to take care of these repairs. CAN I RENT-TO-OWN TO A BUYER IF I DON’T TECHNICALLY OWN THE HOME? This is a somewhat controversial question that I am always excited to answer for prospective Associates and students alike. You don’t have to own the home, but you do have to control the home,
meaning that you have equitable interest in it. This is interest held by virtue of an equitable title or claimed on equitable grounds, such as the interest held by a trust beneficiary. You can gain this equitable interest by taking the home through a lease purchase contract, for which you will need a written agreement, depending on which state the home resides in. That is the general answer, but by becoming immersed in our Quantum Leap System, you will receive much more information and detail to help you with this complex investment process. I will be providing answers to more commonly asked questions in next month’s Student Corner. If you want more information about the two questions addressed above, feel free to contact our coaches at SmartRealEstateCoach.com.
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INSIDE THIS ISSUE
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Smart Real Estate Coach: The Early Days Real Clients, Real Results Q&A With Chris Prefontaine Beans and Greens Rigatoni 3 Tips to Help Organize Your Crazy Life
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NEED A PERSONAL ASSISTANT TO MANAGE YOUR KIDS’ CRAZY SCHEDULES?
TRY THESE 3 TIPS INSTEAD
School has started. Youth sports are in full swing. Work is crazy. Food has become more about necessity than enjoyment. All of this can only mean one thing: Fall has begun. The crazy schedules this time of year can make it tough for parents to keep their heads on straight; making it through the insanity sometimes feels more like survival than life. But there are tactics you can employ to turn the tide and find more time for yourself. TAG TEAM There’s no reason to try to do everything on your own. The phrase “It takes a village to raise a child” exists because managing the stressors of life requires help. A great place to start is by establishing car pools with a parent group you trust. You can alternate drivers weekly, which provides the opportunity for you to focus your attention on other priorities — or if you’re lucky, have some freedom. THE RIGHT TOOL FOR THE JOB
you never miss a beat. And apps like Mealime and MealBoard give you the ability to whip up food that is cost-effective and delicious. I personally outsource and our team outsources many tasks to GetLinked (getlinked.co) — on average 80 hours monthly are done by them on various tasks for us. TEAMWORK MAKES THE DREAM WORK While you’re busy trying to rally the troops at soccer practice, the scene at home resembles a horror movie. Laundry is piling up, food is spoiling in the fridge, and the dust bunnies around the house now have names. Housecleaning is a part-time job in its own right. The only way to stay on top of duties around the house is to work together. A chore chart with clear responsibilities is a great place to start. Whether you have one child or eight, everyone is capable of pitching in. You can have all the organizational abilities in the world, but the best way to manage life’s madness isn’t by directing day-to- day tasks; it’s by managing stress. Instead of using these tools to control life, look at them as a way to free up time so you can decompress and enjoy the things you love.
Technology makes organization easier and more accessible than ever. By using a tool like a shared calendar, you can coordinate the entire family’s schedule so
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Quantum Leap Systems 2018 LIVE EVENT!
Join us at our 3rd Annual Quantum Leap Systems Live Event!
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