In this 45‑minute live coaching session, Chris Prefontaine and his teammate Adam (with observers Judy and a third speaker) handle a real‑time call with Leah, a homeowner who listed her property (a free‑and‑clear, partially occupied house in Wisconsin) for $290K and is planning a move to Tennessee. The team re‑engages a lead that had gone cold, clarifies Leah’s motivation (a 1031 exchange and personal relocation), and presents two structured purchase options: a lease‑purchase that locks in price while allowing time to identify a replacement property, and an owner‑financing arrangement where Leah acts as the lender. Chris models a coaching technique of “switching hats” – shifting between informational and advisory tones – to keep the conversation clear and avoid confusion. Throughout the call, the team notes key data (price, ownership status, timeline), asks clarifying questions, and plans immediate follow‑up actions (summary email, next call). After the seller hangs up, the team debriefs, highlighting the importance of offering clear options, maintaining a collaborative tone, and documenting next steps for future training material.
Chapters
I'm shocked, but what you said, I wrote down 2 things. The way in which you said the other option, just to switch hats, just to switch gears. That was, that was important to me so they don't get confused. I'd sent somebody a text. They had called me a month ago and they said they're free. Do you have time to chat with them or no?
When you say you have time, we're on the call. If no one else has any questions, Judy and Tony, you have questions?
It's— they've only got 10 minutes to finish. I didn't realize they texted me back. Sorry. Okay.
I'd have to put on speaker because I'm tinkering with my BlackBook too. So you guys can hear it though, probably.
So the long and short version is I literally wrote the person off. They called a month ago and they said they want a 1031 exchange and they're going to Tennessee. So I, I'd almost say it's like a first call again because I couldn't get a hold of them and they just—
Tell me what just happened. Tell me what just happened with the email.
The email said, I'm moving to, or I'm headed— sorry, Ella. There it is. Hey Adam, I'm headed to Tennessee to look for replacement property. Perhaps we can get the ball rolling. How's your Wednesday afternoon look like? I sent him an automated email and they replied.
What was the lead? I'll jot it down.
Yep.
The lead is just a for sale by owner.
How much?
And she wants $290K.
$290K.
2 offers.
How much are you offering?
Zero. Owner finance, free and clear.
Okay, I'm going to take this off of my headset here. Hold on one sec, guys. That stays the same. Okay, talk, someone.
Yep. Can you hear me now?
Okay, perfect. You're on my speakers now. Okay.
Phone number 6.
And at the time, there wasn't motivation. Now there is because he's moving?
No, she's— she— it's own free and clear. She wants to buy one down in Tennessee.
Right.
But, but before you said you wrote them off. How come?
She never answered her phone. Oh, I called her back like she said. She didn't call. So I've been doing it really quickly. So I just wrote them off and said, I'll send them a note.
No return call. Can you email them back right now and tell them— oh, did you already do that and say Chris is calling?
I already texted them.
Name?
Leah. L-E-A-H.
A-H. Moving to Tennessee. Just emailed Adam today?
Yep. Uh, 12 hours, the 20th, yesterday technically. And I texted her this morning and told her we'd call.
Okay.
608.
Hold on, I'm just gonna call on speaker, guys, because I don't want to waste time trying to sync that up. Any notes? No, you didn't talk live. Okay, got it.
I did talk to her live. That's where I got the information. She bought it in '05, got it paid off, but never called me back.
Hi, this is Leah.
Hi, Leah, this is Chris Prefontaine calling. You, um, were emailing with one of my partners, Adam. How are you?
Good.
Did you have a few minutes now?
Uh, just a few. I do have a work meeting that starts around 12:30 that I'll, um, No problem.
Just cut me off if you got to go and we can reconvene. So I know you had sort of reached back out to Adam. Is this on your property here? I think you were on for $290,000. Is that right?
I think I had told him $290,000 if we were able to work it through a 1031 exchange, $320,000 if it was outright.
Okay. Well, so the 2 ways we buy, especially if I understand your property does not have a mortgage, right? It's free and clear.
Like $4,000 on it.
Okay.
Yeah. Easier or whatever.
Okay. That's fine. And so let me just clarify. So I'm tracking with you on the 1031. Is that something you, you don't have to do and you don't have anything picked out? It's just an option you were thinking of. I just want to be clear with my options.
Correct. I think that's what I want to do. I don't have it picked out yet. Okay.
So, okay, so I have 2 ideas and I know you're going to run out of time here, but we— so you can stew on this and we can follow back up. The 2 ideas would be one on the 1031 side, especially if you don't have any urgency or anything picked out yet. I know, of course, the goal would be to move as much money from this to a 1031, right? That's the whole idea. We could structure a lease purchase whereby you lock in the top dollar now. The hypothetically, I'm just using a rough date, the lease purchase might run 36 months or so. And then towards the end of that, it behaves just like a regular closing and you identify your property and do all that then, but you're locked in now in case the market slides. That would accomplish your 1031 piece. If I could just switch hats for a minute, the other way to do it is it wouldn't avoid tax, but it would spread it out and kick it down the road. And that would be we do owner financing with you as a bank. We make monthly payments to you against whatever purchase price we decide, and the price would really be predicated upon how far out we go with the term. Sometimes you can get a premium. So those are— and I know I did that quickly, but those are sort of 2 options, Leah, that we could— putting an email to you to kind of noodle on.
Okay.
Does that make sense in general?
So the second one that is basically I'm, I'm financing it?
Yeah. Yep.
Okay.
Yep.
Sure, sure. And then you just make payments for however long we determine?
Yeah. I mean, some people go 20, 30 years. Some people say, no, no, no, I, you know, I don't want to do this. 60 months or 72 months. Everybody's different. The tax ramifications and estate planning usually play into that.
Okay. So I guess I hadn't really thought about it that way.
I can have Adam put like— I'll give him a call and let him know what we've chatted about briefly, and we can put like a summary email together for you. Is this from a time standpoint something you wanted to act on fairly quickly regardless of the options?
Correct.
Yeah.
You know, if I, if, if I drive to Tennessee and find my dream house, I'm— yeah, I want to purchase, you know, and we are looking to purchase and buy as soon as possible, but I haven't even started the look, so I'm being realistic.
Okay.
But, you know, yeah, it would be a sooner rather than later thing now.
Okay.
And it sounds like because you're even thinking about 1031, it's not like you need to move this money to a new house in Tennessee, right? You're doing that either way.
I would be doing that either way. Yeah.
Okay.
Very good.
Okay, then I'll let you run to your meeting. I think it's in about 4 minutes. I'll get with Adam and we'll send you out a quick summary email, at least to further the conversation. Then either both of us or he will get together with you.
Yeah, I think he might give me a call tomorrow, which is— I'll have more time then.
So that's great. So we'll try to get this off to you tonight. How's that? All right. Same here. Nice to meet you, Leah. Thank you.
Bye-bye.
You guys heard that okay?
Okay.
Yeah, you can unmute. So any questions on that first, and then Adam and I can structure an email. But she sounds super nice to work with.
Oh, I, I'm shocked. But what you said, I wrote down 2 things. The, the way in which you said the other option, just to switch hats, just to, to switch gears, that was, that was important to me so they don't get confused.
Well, I want to see how she reacted to all each one of those questions. I don't think, I don't think we left anything out. I didn't have the address or anything, so I was kind of like dancing a little bit, but Any questions, you guys, or any takeaways?
No, you gave her options and something to think about. So now she just has to kind of figure out what's, what's going to work best for her because one way or another she's moving.
Yeah, that's what I want to make sure I was clear with at the end. So Adam, based on that, I'm not asking you to dot the i's across the t's, but why don't you do a draft to me in Slack? And I'll keep this index card I wrote on to remind me to check it later. Even if I'm not in, I'll just like literally go in and check for your thing. And because I can edit a lot quicker than I can craft, right? So that's great. I like her. I like her energy. I like what she's doing. It sounds like she's— I was cognizant of her leaving, but it sounds like she's with— I don't know, maybe it's a new boyfriend or new spouse and they'll leave. And that's just what I'm gathering.
Yeah. And I— and to be honest, I was reading through my notes and trying to catch up on her. She's got one occupied, one vacant, free and clear. She'd love straight cash, but she wants to get the most out of the property. I spent 7 minutes with her one time a month ago.
Okay. I'm writing the timestamp down because I think that'd be some— I think if you guys agree, maybe some good lessons in that short call for people.
I think it'd be great.
Okay. I'll do that.
And she bought it in '05 and has it all paid off. Done well with the investment.
Right, right. Yeah, $4,000. I mean, it's basically nothing. Okay, so that's good. Let's do that for our next action step. I would be shocked if we can't get something with her going.
It'd be awesome.
And this is— where is she? Where's this property? I know you have different—
Uh, in Wisconsin by me. I've stopped— I've only been calling Wisconsin.
Good. We need more near you.
That's awesome. All right. That's the plan.
Yeah.
That's good.
Is she planning to use that money from this to purchase a place in Tennessee that would be part of the 1031?
No, I clear— no, no, no. Her 1031 was not to go to Tennessee.
Okay.
Personal. That's not what I gathered. I— and that's why at the end I clarified that, that either way she's moving.
So would the fellow that you had on a few weeks ago be an option to put her 1031 in His fund, I forgot his name.
The, um, uh, no, it's the investment guy. No, she does. Yeah, she doesn't want to do that. She wants to go buy another property, so she won't put these funds in that group.
No, she said we, so whoever she's with, they're all set up. Evidently they don't need— Judy, you were saying something else?
Yeah, Larry said that she needed to buy that next property. That's her personal residence. She can't use the 1031 for her personal residence.
Right, right.
She's looking for personal.
Okay.
Well, I think that's good stuff. Good last-minute call.
Thanks. Sorry, I didn't think she'd reply.
No, no, no. I meant that in a good way. That's great.
Yeah. Yeah. Okay.
I'll keep this, Adam. So I'll watch for your send on that.
