The focus on negotiation skills as a crucial part of creative financing really hit home for me. It’s a reminder that there’s always room to grow and improve in this business.
Hey Pace! Central FL subto here and I actually was very intrigued to learn a bit more about how down payment to sellers influences capital gains tax as one of the most common seller finance objections is wanting a lot down (and yes, can do morby for it but would be awesome if can explain to sellers benefit of taking low down like you mentioned in your Montana house deal)
Question. I don’t quite understand what you mean when you say “buy a deal” from a sub-to student. Can you please explain in one of your videos? Thank you so much for your generosity Pace!! God Bless!
I thought he said the sub-to students are people who have properties they hope to sell via sub-to (and they gave learned how to administer it legally) but I thought he also said the sub-to students can kind of act like a broker where they find you your desired deal and they take a finders fee, plus advise you on your next steps. Did I hear that correctly?
Also sometimes I share this, the Bible says that GOD loves us so much that he sent his son JESUS CHRIST to this earth and HE lived a perfect sinless life.And JESUS went to a cross and gave HIS life for us.And rose again in 3 days and who ever will receive JESUS AS THEIR SAVIOR AND ASK HIM TO COME INTO THEIR HEART AND FORGIVE THEIR SINS,HE WILL TAKE YOU TO HEAVEN.
Hey Pace thank you for this video, love the content! I had a question about taxes on the wholesale assignment fee. How much should I set aside of it for taxes?
You get the best info on taxation from a CPA or tax accountant who knows you and your business directly. I'm neither, so the best I can say is: an assignment fee is income, and so you should expect to pay income taxes on it just like any other source of income.
@@jalabi99 thats a great general honest answer although Id say its a bit better than "any other source of income" as can be written off against business expenses unlike many w2s
Financial freedom starts with smart decisions. My best one? Investing in turnkey apartments with seller financing, low cost of entry making it affordable and profitable.
Pace, I took your advise and gave up the excuses and contacted people. I got 3 owners to agree to subto, now I need to figure out the contract side of things. I’ve been around real estate my entire life (bought my own house without agents and wrote contracts) but these contracts are new to me and I’m clueless. How do I take the next step to figuring out these contracts so I don’t miss out on these deals?
@@pberggre Long story short. There was a church property sitting on loopnet for over a year! Nobody could see past the steeple but the building was amazing! I came in with a low offer, we agreed because it was a distressed seller not a distressed building situation! Took the steeple off, and rented out the place. Purchased for 385K, rented it for 12K per month on a 7 year lease and it will appraise today for 2M. 22k sq foot building 2 stories on the highway. Just locked up another one last month too! Distressed seller situations are so gold!
@@sharaudramey9336 Seller was very grateful that a buyer finally came along (me!), imagine if you had a property for sale for over a year and finally sold it. Buying and selling property is not sleazy its business. You could say any business is sleazy in that regard because they sell products for more than they bought them for.
Sam I've found you, will see how it works on this Band wagon.say that again, buying RV parks TOO, I'm going to get the phone fixed tomorrow if Life be Spared.
Get my FREE Wholesale Masterclass here 👉 www.15kcourses.com
The focus on negotiation skills as a crucial part of creative financing really hit home for me. It’s a reminder that there’s always room to grow and improve in this business.
Love when I see a new pace video drop
Thank you Pace you're Awesome!
Thanks for adding soooO much value!!!
Lmao
This Guy is the Man 📈
Hey Pace! Central FL subto here and I actually was very intrigued to learn a bit more about how down payment to sellers influences capital gains tax as one of the most common seller finance objections is wanting a lot down (and yes, can do morby for it but would be awesome if can explain to sellers benefit of taking low down like you mentioned in your Montana house deal)
PACE U R HEAVY DUTY
Question. I don’t quite understand what you mean when you say “buy a deal” from a sub-to student. Can you please explain in one of your videos? Thank you so much for your generosity Pace!! God Bless!
I thought he said the sub-to students are people who have properties they hope to sell via sub-to (and they gave learned how to administer it legally) but I thought he also said the sub-to students can kind of act like a broker where they find you your desired deal and they take a finders fee, plus advise you on your next steps. Did I hear that correctly?
@@coachmindy Thank You So Much! I think so yes. I still would like to understand more though…. But it’s okay.
When I find these deals. How or who do I present them to??
Thank you, Pace. I owe my future to you.
@PaceMorby Just Became a Subto Member Today!! Glad to Finlay join that side of the community, as an OG Gator
Also sometimes I share this, the Bible says that GOD loves us so much that he sent his son JESUS CHRIST to this earth and HE lived a perfect sinless life.And JESUS went to a cross and gave HIS life for us.And rose again in 3 days and who ever will receive JESUS AS THEIR SAVIOR AND ASK HIM TO COME INTO THEIR HEART AND FORGIVE THEIR SINS,HE WILL TAKE YOU TO HEAVEN.
Shaddup
Wow so hepful.
Hey Pace thank you for this video, love the content! I had a question about taxes on the wholesale assignment fee. How much should I set aside of it for taxes?
You get the best info on taxation from a CPA or tax accountant who knows you and your business directly. I'm neither, so the best I can say is: an assignment fee is income, and so you should expect to pay income taxes on it just like any other source of income.
~20-25% if not writing it off with business expenses. can be at/near 0% though if you know how to ;)
@@jalabi99 thats a great general honest answer although Id say its a bit better than "any other source of income" as can be written off against business expenses unlike many w2s
Financial freedom starts with smart decisions. My best one? Investing in turnkey apartments with seller financing, low cost of entry making it affordable and profitable.
wow thanks
Pace, I took your advise and gave up the excuses and contacted people. I got 3 owners to agree to subto, now I need to figure out the contract side of things. I’ve been around real estate my entire life (bought my own house without agents and wrote contracts) but these contracts are new to me and I’m clueless. How do I take the next step to figuring out these contracts so I don’t miss out on these deals?
Where do you go to contact people ?
🙌🏽🙌🏽🙌🏽
Hahahahha the Friday clip 😂
🧠This is super helpful!
Thanks for the informative lists!
And Subto Group info!
Will Share⬅️
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Made 1.6M on one deal using loopnet. It can be a great source for commercial property
Wait how did you make 1.6 m on one deal?
@@pberggre Long story short. There was a church property sitting on loopnet for over a year! Nobody could see past the steeple but the building was amazing! I came in with a low offer, we agreed because it was a distressed seller not a distressed building situation! Took the steeple off, and rented out the place. Purchased for 385K, rented it for 12K per month on a 7 year lease and it will appraise today for 2M. 22k sq foot building 2 stories on the highway. Just locked up another one last month too! Distressed seller situations are so gold!
@@WilliamDauriaInvestor amazing
@WilliamDauriaInvestor this makes it sound so sleazy
@@sharaudramey9336 Seller was very grateful that a buyer finally came along (me!), imagine if you had a property for sale for over a year and finally sold it. Buying and selling property is not sleazy its business. You could say any business is sleazy in that regard because they sell products for more than they bought them for.
Pad slit communal living looking better than multifamily!?
❤❤
Damn Pace, I thought you had a subscription to planet fitness 😅
Sam I've found you, will see how it works on this Band wagon.say that again, buying RV parks TOO, I'm going to get the phone fixed tomorrow if Life be Spared.
I Have other questions, & hopefully not too hyped about real estate entrepreneurship.
Thoughts on any next steps? …replies welcomed. 👈