5 Things I Wish I Knew BEFORE Starting in Real Estate
HTML-код
- Опубликовано: 8 июн 2022
- Here are 5 things I would have done differently when I started in real estate investing.
JOIN FREE FACBOOK GROUP: shor.by/Si74
Prime Corporate Services: primecorporateservices.com/abc
Raising Private Capital Video: • Raising Private Capita...
Get ACCESS to my community and FREE value here: ✌️ shor.by/pace-youtube ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🔌MORE FREE VALUE 🔌
➡️ Assignment Contract: go.www.pacejmorby.com/assignment
➡️ Wholesale Contract: go.www.pacejmorby.com/wholesale
➡️ Cold Calling Script: go.www.pacejmorby.com/coldcal...
➡️ Cold Texting Script: go.www.pacejmorby.com/texting
➡️ Foreclosure Script: go.www.pacejmorby.com/foreclo...
➡️ Disposition Checklist: go.www.pacejmorby.com/dispo
➡️ Comping Cheat Sheet: go.www.pacejmorby.com/comping
➡️ Guide to Pulling a Water List: go.www.pacejmorby.com/water
➡️ Guide for Taking Photos on Appointments: go.www.pacejmorby.com/photos
➡️ Seller Lead Form for Talking to Sellers: go.www.pacejmorby.com/seller
➡️ Profit and Loss Template: go.www.pacejmorby.com/profit-...
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
👥 Join our community 👥
paceapproves.com/communityyt
✌️Join my Subto mentorship ✌️
paceapproves.com/subtoyt
🐘 New to Real Estate Investing? Join the FREE Elephant Challenge 🐘
pacejmorby.com/invite
🐊 Become A Gator (Private Money Lender) - Get Started Now 🐊
paceapproves.com/gatortrainingyt
🤝 Partner With Me On My Next Deals! 🤝
subtofund.com/
👇 Get ALL My Contracts 👇
pacespaperwork.com
📘 Read My NEW Book: Wealth Without Cash 📘
Supercharge Your Real Estate Investing with Subject-To, Seller Financing, and other Creative Deals: amzn.to/3EgWUBw
“Contrary to what most people think, getting started in real estate doesn’t require money, and Pace proves it in this amazing book!” - Grant Cardone
🏘️ Join My FREE Multifamily Mastermind w/ guest speaker Veena Jetti 🏘
thevault.mykajabi.com/offers/...
⬇️ Get My Exact Wholesaling Contract For Only $1 (I Paid Thousands) ⬇️ paceapproves.com/wholesalecon...
📈 Scaling with Virtual Assistance (VA) 📈
startvirtual.com/courses/scal...
♾️ Get Limitless Lead Flow ♾️
www.limitlessleadflow.io/
📚 My MUST Read Books For Success 📚
tinyurl.com/yckufuf8
📸 Get My Gear 📸
My Computer: amzn.to/3I84Pm8
Monitor: amzn.to/3k7nWod
Cameras: amzn.to/3xuk2ZG
Lenses: amzn.to/3k2XSuC
Camera Gear: amzn.to/3k7p9ff
Audio Gear: amzn.to/3XDSOKL
Studio Lighting: amzn.to/3Z2DybB
🎥 Shop My Home Studio 🎥
www.amazon.com/shop/pacemorby
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
✅ BUSINESSES WE PERSONALLY USE! ✅
StartVirtual
Trained VA’s for calling, texting and admin
paceapproves.com/startvirtualyt
StartVirtual Bookkeeping ELIMINATE Bookkeeping HASSLES and 10x your Business
paceapproves.com/bookkeepingyt
Batch Leads
Pull lists, manage lists, skip tracing and text messaging
paceapproves.com/batchleadsyt
Batch Skip Tracing
Experience discounted skip tracing
paceapproves.com/batchskipyt
PropStream
Gain property information, pull lists, marketing and much more
paceapproves.com/propstreamyt
Batch Dialer
Gain unlimited outbound dialing
paceapproves.com/batchdialeryt
Carrot
Investor websites with content packages for SEO
paceapproves.com/carrotyt
FreedomSoft
CRM with websites, automation for follow-up, contract generator and more
paceapproves.com/fsyt
Prime Corporate Services
For all your LLC needs, look no further
paceapproves.com/primeyt
Deal Automator
#1 Real Estate Software on the Planet
paceapproves.com/DAyt
Relay
Online Banking The Keeps Your Business on the Money
paceapproves.com/relayyt
MyInvestorloan
Making the mortgage process fast and simple
paceapproves.com/lenderyt
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🔌 PLUG IN & SUBSCRIBE 🔌
✌️ Follow Me On Instagram: / pacemorby
✌️ Follow Me On TikTok: / pacemorby
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️
🚧🚧🚧 DISCLAIMER 🚧🚧🚧
❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a RUclips video for entertainment purposes ONLY ❎
I can’t tell you how much WE all appreciate this info pace, thank you
Hey @jessegomez622 you made the comment a year ago that I'm responding to. How has the journey been?
Hey Pace I've just got home from driving about 500 miles overnight and I've been binging your videos.
Thank you for all the time, energy, and effort you put into making content.
Pace is great at promoting himself and his businesses and making it seem natural that’s a skill 💪🏾🔥🔥
9 9 o l .you
@@davidholguin9192huh?
Wow! This was an eye opening experience, watching this video!! I am a newbie who's just getting into real estate. Thank you for the guidance and direction!
Absolute gold, will rewatch this a few times to take notes. There's so many nuggets of gold in this short video.
A naked truth. Thanks, brother for your sincerity in sharing insights
Pace you have no idea how much I appreciate you. You're a flippin genius.
Appreciate you more!
Completely relate to the education tip! I know I want in this business, but I have had too much irrelevant information for a complete beginner to try and digest. It’s almost made me quit. So far you are the highest quality person I found in this arena. Thank you!
thanks Pace, love your content and "go giver" attitude
Great stuff! I was focused on seller's finance and wanted to learn more, but wasn't sure what strategies fit my own. This laid it out clearly for me! For any Canadians wanting to tap into the US market, take notes
As usual, I appreciate the info Pace. I appreciate the time you give. I’m getting my LLC next month!
Glad to help. You're welcome Charlie!
I love His honest approach. Learning from this! Thanks Pace
My pleasure!
@PaceMorby Hey Pace! I JUST GOT STARTED! I contacted PCS, set up my LLCs and am ready to join GATOR training this year. What do you know about Snowmass Village, Colorado?
Thanks Pace...you're AWESOME
Great points, thanks Pace!
Great video! Makes so much sense! 🎯
I'm so intrigued and so impressed by you Pace, I too am impressed by your dedication and your Devotion to your craft the passion and the drive you have and helping others I to desire that and I want that too thanks for the information it's very valuable very helpful and in Utah the big Samoan
Thanks, Pace, so powerful!
Love your sweatshirt dude
Wow, thanks Pace! I was literally planning to reach out to the 'Other Company' to set up all of my entities b/c I'm a huge fan of their channel... Thanks for the heads up !
Great information! Thanks for sharing your knowledge and experience.
Amy. You're welcome!
Love the confidence...know more than CPA s.
I love it thanks
Another great video full of nuggets. Appreciate you, bro.
Appreciate you more brother!
I'm not an attorney or CPA.. I did take a business class in college so correct me if I'm wrong. In a nutshell LLC and S corp are hybrid structures and both are pass through entities on your taxes. LLC's are not corporations and have different requirements/structure from S corp which is a corporation. One major difference is that S corp has shareholders and can issue stock. In layman's terms a stock is part ownership in a corporation. Similar to when you invest in the stock market you are investing in part ownership. So if for example you wanted to incentivize your employees or vendors you could offer them stock options in your S corp but you couldn't do that with an LLC regardless of how you elect to file.
For the purposes of real estate you want an LLC.
For the purposes of asset protection S corp and LLC are similar.
For the purposes minimizing taxes, especially self employment taxes, you want to ELECT to file your LLC as an S corp.
Granted this was years ago that I took a business law class.
Hope all is well, Blessing to you and yours. Newbie Here :) I appreciate how you conduct your business. I'm currently getting back interested into this niche and really going for it this time since I came upon you channel. Last yr I was planning on jumping into this, but, didn't like the idea of low balling the sellers. Couldn't see myself doing that. I use to be a Freelance Real Estate Agent few yrs back and I enjoyed helping people who really needed the help. You truly have really spark a fire under my A$$ . So Thank You :)
interesting content Pace Morby. I shattered the thumbs up on your video. Maintain up the terrific work.
Damn you Pace! You said no less than five things in this video that I've been hung up on for the last 2 months. Time to get crackin'!
Dude u keep it tooooo real! TSMFS! This should be taught at University, but after 2 semesters no one would return.😄
Live a purpose driven life.
Thanks broseph
goated video
Before creating a couple LLCs I am thinking of trying out wholesaling first and see if I am able to acquire my first check. I need to prove to myself that it is something achievable for me who is inexperienced with and lacking confidence in building relationships (a key factor that is required to succeed in RE).
Because otherwise, if it doesn't work out for me, then paying the high LLC fee in CA would have been four naught and also I would have to look for a CPA to help me sort my income tax forms with the added business entity stuff I'd have to deal with.
GREAT video
Thank you Mark!
13:13 I do actually know where I would put 10k xD and it is a money plan. I get hit by the "you don't know" pace so much I just had to mention when I got it right for once 😅 thanks for all the content I'll hopefully be working with ya'll soon.
If anyone wanted to read the reply here. The plan right now would be to buy into the mentor ship then start an LLC. I'm still just starting on my journey so that answer would be easy. If you wanted my answer to somewhere to put 10k that would be making me money I would split it between dividend-paying stocks and bonds since that's the easiest cash flow I could buy right now if I needed to spend the money the instant you gave it to me.
Also he got me almost immediately after "needing more community" I only have like 4 people working in real estate that I know and have talked to about it. I only learned that I wanted to do real estate 6 months ago so I feel like I'm still on the learning path.
I will start getting super into the facebook community to start as soon as I've graduated college in December. And by into the community I mean I will bring a deal to someone in January at the latest even if I fail to do something right (which after about a year of reading and learning should hopefully not happen on my first deal but you never know)
Are there any consequences to setting up an LLC immediately (while still learning) if there are no transactions processed through the LLC by the end of the year?
I’ve been thinking about the next real estate business to add to my portfolio and title company came to mind. I have rental, development and construction arms moving along
Do you mentor?
@@Theseymorecrew I have not set up a program yet. But a few folks have asked.
The LLC is definitely important. When I got into real estate I paid so much in personal taxes. Once I got my LLC taxes were cut in half. Thanks Pace.
💯 You're welcome William!
Setting up an LLC does not provide you any tax benefits whatsoever. It helps you asset protection only. I wonder what you were doing.
@@AleksandarPopivoda My CPA files my LLC as an S-Corp. "When an LLC elects S corp tax, it reduces self-employment and overall tax burden under the right circumstances." And yes, I agree, for protection of personal assets.
Hi Pace, do you teach how to create Title Companies in the mentorship program?
I don’t teach this in the mentorship. But owning a title company would be ideal. Check out my interview with JB where I explain why. ruclips.net/video/DvLtmb9Ly80/видео.html
1. Company Structure: LLC/S-Corp
2. Learn No Money Strategies
3. Plan where to allocate your excess income mixed in with some woo woo nonsense.
4. Network
5. Educate yourself - Robert Kiyosaki got rich selling books and dreams spouting vague advice to gullible people, not by investing in real estate.
🔥🔥🔥🔥🔥
Non fan-boy question. How are you strategizing for the clear downturn? Are you thinking about the possibility of broad asset deflation that JPow is insisting is needed? Is buying at full retail w subto or sellerfi too risky when prices are falling and jobless claims likely to rocket higher? Thanks!
Will a lot of people become homeless? Securing affordable housing with section 8 is a good hedge
holy fucking resourceful 😛
What company that manages LLCs is he talking about... That has bad customer service
Do your own research. Figure out the difference between a LLC and a S Corp. there is a difference. PCS is just one of many cos that offer a multitude of services. Who knows if they’re competitive. But keep it simple at first. You will have enough on your plate with RE, but you def need somebody regarding implementing the best and most efficient tax avoidance plans, when you start to accumulate cash. And that’s a whole different ball game.
I'm stuck!! Wanting to know where to go where to start. I want in on real estate but need guidance.
I totally get it. This guide might help you out. www.pacejmorby.com/overwhelm-guide
A LLC is not an IRS tax designation. A LLC can be either a sole prop, Subchapter S, or a C corp.
Thanks for sharing your insight, Steve!
@@PaceMorby 😂😂😂😂 I felt sarcasm from that Steve
Bruh @15:30 I legit died 😹 glad I wasn’t around my wife she woulda been like “what in the F” 😹
🤣
Lol
Absolutely incredible. Pace do you have a tax strategist that you work with. Please let me know how to pay you for guidance.
Miguel. Prime Corporate Services has an awesome tax services team that can help you with your business. Schedule a call with them here: www.primecorporateservices.com/abc
Got set up. I’m ready to start. Thank you so much for my first right step forward!!!!
Been following a while, your high-level/low-level is backwards. High level is low detail. Like looking at the earth from a plane. Low level is high detail. Like being on the ground looking at specific flowers or trees. Hopefully you see this as a value-add constructive criticism.
What
@@lucasasselmeier7825 Where did I lose you?
I wish I watched Pace earlier.
1:40
I used to listen to Dave Ramsey till I heard him tell someone to sell their cash flowing rental properties ASAP just because he didn’t own them free and clear.
that man is a clown
Not once did he say prime isn’t paying him or he didn’t own it😂😂😂😂 people you can set it up your self it’s not hard
i set up an LLC on my own, big mistake
Oh no, Ramsey.
Prime can help you fix that. Schedule a consultation call with them today at paceapproves.com/primeytc
at least youre not 49 learning how to raise capitol
It's never too late bro.
This company isn't Anderson Advisors is it?
No thank god. There’s a difference between tax preparation and tax planning.
I’m the first like and comment on this video lol
Perhaps you’re worried about all the wrong things..
Well I know NOTHING about starting a “title company “ don’t even know where to even began 🙄 I perfer a partner just me sounds hard and not accomplishable 🫤