02 Mar A 10,000-foot view of How the Process Works When it Comes to Buying With Us, with Nick Prefontaine
In this episode of Not Just a Transaction, host Nick Prefontaine gives an in-depth look at the buyer journey working with Original Real Estate through rent-to-own. Nick explains his process of vetting potential buyers, the importance of ensuring a solid debt-to-income ratio, and how his team works with buyers to transition them from renters to homeowners.
Glossary of Special Terms Used in this Episode:
- Debt-to-Income Ratio – The percentage of your monthly pre-tax income that goes toward paying your existing debts and monthly bills.
- Down payment – An initial payment made when purchasing a home.
- Deposit – An amount of money paid as an installment towards a purchase.
- Rent-to-Own – An agreement between a homeowner and a renter that gives a renter the option to purchase the rented property before the end of the rental period.
What you’ll learn about in this episode:
- A 10,000-foot view of how the process works when buying with Original Real Estate
- What the first steps are to becoming a rent-to-own buyer
- The monetary qualifications needed to ensure you will be successful in your rent-to-own journey
- How Original Real Estate helps buyers go from renters to homeowners
- What the non-negotiables are for buyers working with Original Real Estate
- How signing up for the email list will give you an exclusive look at homes before they are offered to the public
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 team at Original Real Estate 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.