Chris Prefontaine explains why sellers should guide tenant-buyers toward ownership rather than act as landlords. He emphasizes thorough buyer qualification, checking in on their mortgage readiness, and letting them handle property upkeep and capture appreciation while you collect rent until they can purchase.
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All right. Q&A Thursday. How involved am I after I place a tenant buyer in the home? This is where people get confused. They think that they're becoming a landlord because all they're hearing out there is how the tenant buyers don't succeed. Yeah, when you do it incorrectly, they don't. You're not a landlord if— big if— if you structure this deal right. Now, I've said this on so many videos. Many well-known educators, you know their names in our space, will tell you openly, publicly, on podcasts, on YouTube, and at their events even, that they don't care if a tenant buyer gets cashed out because they'll just go ahead and put another one in. This is crazy that they don't care if their buyers get qualified because they'll just collect another check from them. Guys, absolutely crazy in my opinion. Morally and ethically awful. Plus, now you are a landlord. Welcome to being a landlord because you don't have buyers at that point. You don't have buyers deserving of a home working on a mortgage-ready plan that you know can succeed. Nope. You have a glorified tenant and a crapload of possible headaches. I promise you. How do I know that? We've been through it. When you don't qualify them right, it's a headache. You want to be more of a guide than a micromanager or a landlord in this relationship. Now, what do I mean by that? Well, hypothetically, you're checking in with them. You're making sure they're on track with their mortgage-ready plan. You're helping them get to the, to the finish line, but you're not getting calls with the right buyer who deserves to be there about leaky faucets. You're not dealing with day-to-day headaches. Because they have an ownership mindset. They treat it like it's their home. In fact, at the buyer's meeting with them, part of our script that you'll get as part of our forms, when we accept them, we say something along the lines of, okay, look it, I'm not a good landlord and I'm not your landlord. You're going to take care of this just like you own it. You just don't have to pay your own mortgage yet because you don't have it yet. You're going to pay me in the meantime. That means you'll pay for things like you own it. You'll take care of things like you own it. You'll capture any appreciation like you own it. That also means if the market's flat, you own it. If the market goes down, you own it. It's your house. Do you stay involved? Yeah, you stay involved. It's more strategically, though. It's not operationally day to day. It's a big difference, guys. Huge difference from being a landlord. And that's why this model works so well. Not sure where to get started? Go to smartrealestatecoach.com/getgoing for free books, strategy calls, and a whole bunch more. We're going to help you get going the wicked smart Smart way. We've been after this for over a decade doing exactly that. My son Nick and my partner has perfected this process and the success rate of it over the past 13 years or so and counting. You can learn all about it. Just go to smartrealestatecoach.com/qls. And if you'd like to access that deeper, use the coupon code. Just use the coupon code TUBE. It's going to give you 50% off. Guys, you can't miss out. Like these little tweaks that are covered, a lot of these in the Q&A Thursdays, but a whole bunch more on the Deal Structure Sundays. A lot of these are going to bring you to a deal worth $45,000 to $350,000, all 3 paydays over the course of 1, 2, 3, 4, 5 years. That's a very big opportunity cost to A, not get after it and get executing, and B, fall short somewhere along the line with these curveballs. We've been through them. Let us guide you there. We'll see you next week on the next Q&A Thursday.
