Great info. Padsplit not only lets investors turn loser deals into profitable deals, it creates affordable housing for working people. I recently heard that 40% of Padsplit tenants have recently experienced homelessness. Make bad deals good, earn cash flow, house the working poor and homeless. Also, what city council is going to legislate against low income housing, the way they’ve been banning Airbnbs? What’s not to love?
Creative finance continues to blow my mind. I flipped a couple agents with the I’m probably not your buyer line. As a baby elephant. Thank you Pace Morby 💪
Totally agree. The long videos are fantastic as well and Pace is the only RUclipsr doing the level of detail he does (even though the first 20% of the videos are mostly him flexing...lol), but these shorter formats are great for the times when you just don't have 4 hrs to dedicate.
I love the mix of both length of videos. Theres a crap ton to learn here and how to weave it all together...it takes time to explain why these things are important and why the weave is important.
Hi Pace, you are the best. But I have question about this business case; you have to invest your cash into adding 3 more bedrooms right ? I did not see that part in your calculations?
The video is straight to the point and on a dot. Thank you! Vegas has been going after fractional ownership for a long time, the same with short-term rentals.
I really want to learn wholesaling for now.. So much info out here it's leaving me confused.. Help me yes I'm enrolled in the Elephant program still need assistance.
Pace - How do you ensure that mortgage payments are being made when the mortgage is not in your name? What prevents a mortgagor from taking your monthly payments and not paying the mortgage? I have heard of this happening.
@Pace Morby why would you turn the Living room into 2 bedrooms. I understand it's a way to make cash, but doesn't that affectively take away the common area in the house?
So if the net profit is $350 a month according to his calculations and he’s having to pay $7,000 to agents plus the remodel to turn it into a 6 bedroom. I’m assuming that’s going to be $10,000+. So worse case let’s say he’s all in assuming nothing breaks and he doesn’t have to fix anything up when he buys, that’s $17,000. If he’s netting $350 a month, it’s going to take him 4+ years to get his money back before he technically starts making money. Is my math off or does this deal not make sense.
If your numbers are correct, he'll be making just under a 25% return on his money, plus appreciation, plus mortgage paydown, plus depreciation tax benefits. That sounds like a pretty good deal to me.
@@jasonhowell8 yeah maybe I’m not factoring any other advantages but I’m just talking about ROI. But that’s assuming adding 3 bedrooms is under $10,000. Also I’ve heard mixed reviews on padsplit, he’s factoring 90% rent rate, I feel like that’s a pretty high worse case.
needs to be like 0 to seller very low to no downpayment/arrears. or if its STR comaptible, then maybe still great deal. where are you an agent in? Im always looking for more investor friendly unicorn agents
So if Long term rental won’t cash flow and padsplit isn’t available in Massachusetts and airbnb is a no go because the property is in the middle of no where ..what is another exit strategy??
Would like to see you make a video about 'unrelated occupancy limits'. You cannot just move people in without confirming this. Some cities have a limit of 3 unrelated occupants. Meaning 3 people are not relatives but live together. If you have 4 and only are allowed 3 you can be fined and the city can shut the property down. What would you do if that happened Pace? Thank you for your contributions to this community. I appreciate you!
@Pace Morby I am new to the gator group.i have a question.I see the deals that are being offered, make requests for money by people all over the country, how in the world do you get involved in that and not be taken to the cleaners? Everyone wants to make money, but that's a scary thing... loaning money to people that you don't know, and don't know that the money is coming back, or that it will come back with a profit. Am I looking at it wrong?
Pace, you’re the best. You’re HELPING my team with all your expertise! Would love to send you a deal if I find one worth sending. Any contact info to send them to?
Longer is better if you add good detailed content / less fluff. Could you breakout the $800 capex/maintenance/etc fees? These numbers are hotly debated among SFH investors. Some claim as low as $150/month, others claim $300-$400/mo when looking back over longer periods. I think your $800 is probably about right if you are also including power/water/and utilities. Like $400 capex + $400 utilities or so. I do think padsplit is rather very gray area. Could easily run into problems with max tenants in a unit, eviction issues for people that renew > 30 days, etc.I'd prob consider it as risky as STR. MTR would prob be safer.
Any agent, investor, or wholesaler that needs EMD or wants to do a creative deal like this with me, just me know! I am a SubTo student and can help structure this nationwide. My main markets are FL, TX, and NY
The video is kind of long, but if someone is really interested and has time, why wouldn't they watch it? Especially if you are new to learning about real estate like I am. If you want to break down your deals, do that. I'll support you.
How do I work with you and send you deals brother? I have reached on on instagram, commented on youtube, etc. No contact form on website to reach out. Please let me know. Really wanna start sending you deals.
Great info. Padsplit not only lets investors turn loser deals into profitable deals, it creates affordable housing for working people. I recently heard that 40% of Padsplit tenants have recently experienced homelessness.
Make bad deals good, earn cash flow, house the working poor and homeless. Also, what city council is going to legislate against low income housing, the way they’ve been banning Airbnbs? What’s not to love?
Creative finance continues to blow my mind. I flipped a couple agents with the I’m probably not your buyer line. As a baby elephant. Thank you Pace Morby 💪
Big fan of these 15-20min videos. Lots of clarity and love the real-world examples! Very helpful!
Totally agree. The long videos are fantastic as well and Pace is the only RUclipsr doing the level of detail he does (even though the first 20% of the videos are mostly him flexing...lol), but these shorter formats are great for the times when you just don't have 4 hrs to dedicate.
I love the mix of both length of videos. Theres a crap ton to learn here and how to weave it all together...it takes time to explain why these things are important and why the weave is important.
best RUclips subscription I have thank you Pace
Awesome value, thanks, no your videos aren't too long!
I keep forgetting that you are on A & E, which is a good thing, because I know you for who you are, not a TV 🌟! Not star struck! Thank you Pace!
Any length on the video is great. The amount of knowledge is insane. The example examples and visuals are grade A.
Anytime you educate us is more than enough for us 🎉
Hi Pace, you are the best. But I have question about this business case; you have to invest your cash into adding 3 more bedrooms right ? I did not see that part in your calculations?
Pace does not go long. Longer =more learning for us viewers! 😁
What is the requirement to become a tc?
Yes keep it going on long videos
The video is straight to the point and on a dot. Thank you! Vegas has been going after fractional ownership for a long time, the same with short-term rentals.
hey pace how do you rank neighborhoods A B C? by median income? any website online that ranks neighborhoods statistically?
I really want to learn wholesaling for now.. So much info out here it's leaving me confused.. Help me yes I'm enrolled in the Elephant program still need assistance.
Looking forwarding to learning more about PadSplit on the next video. And I’ll check out your other videos on the subject
Pace - How do you ensure that mortgage payments are being made when the mortgage is not in your name? What prevents a mortgagor from taking your monthly payments and not paying the mortgage? I have heard of this happening.
Pay the mortgage directly to the lender NOT the seller unless it is a seller finance deal, which this is not.
duuuuuuuuuuuuuuuuuuuuuuuude you just made this deal work for me with the pad split I had no idea that was a thing. thanks so much.
Great to hear!
😆🤣💦 love it... "they just got internet two weeks ago." 👍🏿💯✌🏿
🤣
Thanks Pace and community I am learning a lot.
Glad to hear it!
Is Pad Split that secure? Is the demand for pad split that high? BTW awesome vid!!!
Pace your doing great bro
How can I send pace my deals😢
@Pace Morby why would you turn the Living room into 2 bedrooms. I understand it's a way to make cash, but doesn't that affectively take away the common area in the house?
The common area doesn't make you money. It is better to have it work for you.
So if the net profit is $350 a month according to his calculations and he’s having to pay $7,000 to agents plus the remodel to turn it into a 6 bedroom. I’m assuming that’s going to be $10,000+.
So worse case let’s say he’s all in assuming nothing breaks and he doesn’t have to fix anything up when he buys, that’s $17,000. If he’s netting $350 a month, it’s going to take him 4+ years to get his money back before he technically starts making money.
Is my math off or does this deal not make sense.
If your numbers are correct, he'll be making just under a 25% return on his money, plus appreciation, plus mortgage paydown, plus depreciation tax benefits. That sounds like a pretty good deal to me.
@@jasonhowell8 yeah maybe I’m not factoring any other advantages but I’m just talking about ROI. But that’s assuming adding 3 bedrooms is under $10,000. Also I’ve heard mixed reviews on padsplit, he’s factoring 90% rent rate, I feel like that’s a pretty high worse case.
where is part 2
Pace I think you just saved my life & gave me a grand idea on how to attack this property 🗣️💯🔥🔥🔥
I’m an agent and just pitched a sub to deal to a seller and they said yes but they have 6.5% interest 😢
needs to be like 0 to seller very low to no downpayment/arrears. or if its STR comaptible, then maybe still great deal. where are you an agent in? Im always looking for more investor friendly unicorn agents
Do u have any more subto deals ?
Thanks guys, this gave me hope on so many levels.
So if Long term rental won’t cash flow and padsplit isn’t available in Massachusetts and airbnb is a no go because the property is in the middle of no where ..what is another exit strategy??
Which is city in Massachusetts is the deal in?
01071
Would like to see you make a video about 'unrelated occupancy limits'. You cannot just move people in without confirming this. Some cities have a limit of 3 unrelated occupants. Meaning 3 people are not relatives but live together. If you have 4 and only are allowed 3 you can be fined and the city can shut the property down. What would you do if that happened Pace? Thank you for your contributions to this community. I appreciate you!
@Pace Morby I am new to the gator group.i have a question.I see the deals that are being offered, make requests for money by people all over the country, how in the world do you get involved in that and not be taken to the cleaners? Everyone wants to make money, but that's a scary thing... loaning money to people that you don't know, and don't know that the money is coming back, or that it will come back with a profit. Am I looking at it wrong?
2 words. proper paperwork. that is what protects you
I thought you only do deals with students?
Not long enough. Gems
Love this
Pace, you’re the best. You’re HELPING my team with all your expertise! Would love to send you a deal if I find one worth sending. Any contact info to send them to?
Here's my buy box pacejmorby.com/buybox
Did I miss it or did he never discussed the price he's taking over? I only remember hearing the market price of $350k
That’s a lot of work. I wish I can work like that.
Love 20 minute videos and 45 for when I commute to 9-5😢
Were okay going in depth yea
loved it!
Longer is better if you add good detailed content / less fluff. Could you breakout the $800 capex/maintenance/etc fees? These numbers are hotly debated among SFH investors. Some claim as low as $150/month, others claim $300-$400/mo when looking back over longer periods. I think your $800 is probably about right if you are also including power/water/and utilities. Like $400 capex + $400 utilities or so. I do think padsplit is rather very gray area. Could easily run into problems with max tenants in a unit, eviction issues for people that renew > 30 days, etc.I'd prob consider it as risky as STR. MTR would prob be safer.
All good Pace, keep going long and even longer
that is Jamil Damji girl tabika from PA
I THINK PACE DOSEN’T GO LONG ENOUGH!!!
Amen to that
That's what she said
Get into subto - there is TOO much. He does SO SO much
@@BG-nl3hy 🤣
The longer the video the better 🙏🏼
This is great!!
That’s Tabitha!!
Waiting on how construction costs are factored. 🙌🏻🙌🏻
Pace keep going never stop 😂
The longer the better! 👍
I live in Pennsylvania and I can confirm we're still trying to get internet😅😂
🤣🤣🤣🤣 I'm in the north hills of Pittsburgh and this is hilarious
Airbnb is being cracked down in a lot of areas, I have friends that are in Airbnb and they were discussing how much the market has changed...
Guess I missed what being a "TC" means... making a potential $300k a yr... can someone explain?
Transaction Coordinator. Makes sure all of the paperwork is complete and follows the deal all of the way through escrow to closing.
GO LONG
Attach a story for each learning point and you can make it as long as you like because I will watch.
I'm totally fine with long videos ;-)
“I live in an A neighborhood. I mean shit. This is in my house. This is in my basment. I’m not living in a C area” -Pace talking Boss
Using this One WEIRD trick to let the agent, bird dog AND Pace get paid: Seller has to live with tennants dorm style!
Go as long as you like! If I want to watch a short video I’ll watch RUclips shorts
How much $kk to add additional bedrooms so you can "profit" $350 per month? 🤣
Any agent, investor, or wholesaler that needs EMD or wants to do a creative deal like this with me, just me know! I am a SubTo student and can help structure this nationwide. My main markets are FL, TX, and NY
If anybody wants to do a deal like this with me, just me know! I am a SubTo student and can help structure this.
Pace doesn’t go long enough
Pad Split: how to take a C and make it a C-
The video is kind of long, but if someone is really interested and has time, why wouldn't they watch it? Especially if you are new to learning about real estate like I am. If you want to break down your deals, do that. I'll support you.
How do I work with you and send you deals brother? I have reached on on instagram, commented on youtube, etc. No contact form on website to reach out. Please let me know. Really wanna start sending you deals.
Hey Glow, I am one of Pace's SubTo students. We could work together.
GO LONG