I love creative financing. It is how you get low or no money down deals without partners. I bought my mobile home park with seller financing. It helped me scale to 90 units without partners. I just recently started sharing my journey.
Ok this guy has done this for years I haven't so how do I start tomorrow from scratch I'm not overly good at talking to people. I'm 46 stuck in a dead end state of Vermont. They always say it's so easy and I'm trying to do research and learn but it still is escaping me.
There is one major flaw with Pace. He’s so damn smart and quick you have to listen twice. (At least me) so excited to have found him, the perfect strategy with the model I use.
That’s because it is a lot of new information for you but keep listening, don’t give up, and soon everything will come together and you won’t need to listen to it much because you’ll fully understand.
Pace talks way fast and many words are together instead of clearly articulated. On settings I slow the speed down, plus use close captioning (close captioning doesn't get many of his words otherwise due to lack of articulation). Makes all the difference. (When he talks to potential hardship clients, he is much slower and articulate. . . I slow the speed down to 0.75 even so.)
Your the absolute awesomeness of mentorship lady !!!! I just recommended you out ……. Your really a great advisor …….. and you look out for your viewers ! ……. A big hugs. Prayers for your continued successes and one grateful thank you from a se for getting back on their after long illnesses and much back tracking and clearing my financial self 😊
At 23:30 love the offer to buy groceries purchased by credit card analogy. The analogy might even be stronger if someone first offered to pay $150 cash for $200 groceries which of refused is followed ny am offer to make the credit card payments. Boom. Subto grocery negotiation.
why would a real estate agent let you take over payments on a house they spent money trying to sell? Do you pay the realtor a 2.5% commission for connecting you to the buyer?
In his example with Mario for the sale of $3million 50 year note at 4%. Is that also incorporating principle? And what happens if pace decides to sell the property any time prior to the note expiring. Does he then just balloon pay the remaining balance to Mario?
In seller finance, if the buyer fails to make payments and the buyer holds the deed, how does the seller get the deed back? It seems like the seller would incur significant legal expenses. If instead the seller holds the deed, they can foreclose easily if the buyer fails to pay.
He explains in another video how the deed is held by a 3rd person . Or something like that . He does have an answer for everything. Just got to find the right video 😊
@@romi929 You did not read what I wrote which is that if the buyer or a third party holds the deed; and the buyer fails to pay, then the Seller incurs significant legal expenses to get their property back. Compare that to the Seller holds the deed and the buyer fails to pay, in terms of legal expenses
@@jenniferfinegan2362 Pace said he had it in Google Docs and The interviewers said they were going to put the link to it in the show notes. That is what everyone is referring to.
I want to learn all about this stuff. I have a house that I’m soon going to rent out. I would love to learn to buy property’s like this and rent them out. I am so glad I stumbled across this channel.
Tony you said it best! When you get started it’s very lonely! I have found some people that are helping me but inside I feel I’m letting them down because I’m not going fast enough. You two put out my favorite podcast/live cast. I love Mindy and Scott as well as David and Rob, but Rookie gets right to the heart. Thank you! This always inspires me! And after I finished listening 😂… this was an amazing episode!!
The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.
*ROCH DUNGCA-SCHREIBER* is the best in this space, I'm happy to come across these recommendations. I have worked with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.
My uneducated thought is that the subject to deals would work better on homes with minimal or even no equity; low interest rates; and the owners stuck with the payments; therefore, you as the subject to buyer is able to only pay a minimal amount since there’s minimal or no equity and then your strategy would be a lease option with maybe a 15% premium on the monthly payments plus lease option payment. If the lease option or default, then you just do it all over again and collect another lease option fee of five to $7000?
There are some missing pieces of information. What was the loan evaluation ratio when you add up the underlying debt plus the private money loan of $55,000? The private money lender would not loan the $55,000 unless there was an equity cushion after his money.
Is the Due on Sale clause ever called because the lender doesn't want the new owner to have the bemefit of the below market (i.e. low) interest rate at a time when msrket interest rates are much higher - as they are in the current market?
Typically when doing owner finance deals there’s no mortgage on the property on the sellers side so if we agree to set up a escrow account at closing we agree I the buyer pays the mortgage plus taxes and insurance monthly or just make the mortgage payment directly to the seller and you pay taxes and insurance separately Sometimes the sellers don’t have insurance especially if the property is in very rough shape
@@jenniferfinegan2362 Pace said he had it in Google Docs and The interviewers said they were going to put the link to it in the show notes. That is what everyone is referring to.
Learn a lot abou creative financing , thank you pace and Tony Ashley for asking questions. That made it easy to understand. Get pace back on and do a live deal
I don't know about selling the car with payments privately, that is incredibly risky, not to mention if a bank does not trust a person with a loan then you should not either.
Do you typically make the first payment or the first few payments or do you start payments at a future date to give you time to get a tenant and start cashflowing?
For seller finance and subject to deal, I am assuming the title will change to the new owner, but who pays for the property tax? Does the property tax get re-assessed to new sale price? Who get the tax write off for the mortgage interest payment?
Everyone on that set is confused except Pace😅. I’ve been trying to figure this out. He may be a middle child so scattered. I think he said something in the end ❤
Love Pace, i have heard this before but he made it so easy to understand and now I can have the confidence to do this. I am going to try it - I'm newbie Can he please come back - please please... Let's do this - I am in. Thanks
If there's an agent on the deal, who pays that commission? And we have to assume the Title Co gets paid for that transaction, but is that considered title insurance? Seems like there would be some money to complete the deal...what are the typical costs to get the deal done?
Someone help me understand how the debt-to-income left the sellers name without transferring to someone else though payments are still required to fulfill the mortgage. Refer to part: 31:20-32:50
Unfortunately that system won't work in uk nor Ireland or Europe or anywhere else outside USA. There is demand for houses and flats so the sellers are not entertaining opportunists looking for weakest links. I don't wish to live in USA but I would love to have same opportunities here in Europe and UK. ✌❤🍀
If you refinance out and have enough money to pay off the seller early can you avoid paying all the interest from the years down the road? Like say you make a deal of $100,000 at 5% for 20 years. At the end it's like 159k. What if I had enough to pay the 100k and whatever interest up to that point at like 2 years?
Unless you have prepayment penalties in your contract you’ll be able to do it but why would you do that? Interest rates are higher than 5% now so instead of paying anything off I would put that money into another investment.
Does anyone know where to find Pace's google sheets? "One thing that we’ve done is we’ve found five title companies or title attorneys in every single state across the country and we’ve put them on a Google sheet. So if you guys want, I’ll give that to you guys, you can give it to your audience."
It sound so easy., but my question is : can anybody do that or it’s just possible for him because he has the business profile already. Between business companies anything can be agreed., are they going to agreed anything with a broke dude like me.?🤨🤔
I love creative financing. It is how you get low or no money down deals without partners. I bought my mobile home park with seller financing. It helped me scale to 90 units without partners. I just recently started sharing my journey.
Do you recommend a book to learn more about this?
Where do we find your content
I want to learn too if you can share your info
Wayyyyyy to go.
You bought the whole park or just a mobile home
It sounds simple but you’ve got to find a deal that has a person willing to this or deed a property back and redo paperwork to lease-option deal
BINGO!
You gotta have Pace back to call foreclosures live! I'm living for this content!! 🙌
Subto Student here, you’re the bomb Pace. Proud to be in your family!
He showed us no excuses and achieve success. His dad had a full time job plus a side hustle and still had 12 kids, the energy 😂
It's also a story and housing was much much much cheaper then.
Yes, he did
This man is a wealth of knowledge
Ok this guy has done this for years I haven't so how do I start tomorrow from scratch I'm not overly good at talking to people. I'm 46 stuck in a dead end state of Vermont. They always say it's so easy and I'm trying to do research and learn but it still is escaping me.
PLEASE 🙏🏾 🙏🏾 🙏🏾 BRING PACE BACK. THIS WAS AWESOME 👌🏾
... this is the most useful youtube video ever.
There is one major flaw with Pace. He’s so damn smart and quick you have to listen twice. (At least me) so excited to have found him, the perfect strategy with the model I use.
Right! I need to repeat it multiple times😅
Agree
im watching this again like 10x times lol
That’s because it is a lot of new information for you but keep listening, don’t give up, and soon everything will come together and you won’t need to listen to it much because you’ll fully understand.
Pace talks way fast and many words are together instead of clearly articulated. On settings I slow the speed down, plus use close captioning (close captioning doesn't get many of his words otherwise due to lack of articulation). Makes all the difference. (When he talks to potential hardship clients, he is much slower and articulate. . . I slow the speed down to 0.75 even so.)
Please bring Pace back. He’s such a breath of knowledge. Thanks!
Bring Pace back. He is a freaking boss!!!
Let’s bring him back!
Your the absolute awesomeness of mentorship lady !!!! I just recommended you out ……. Your really a great advisor …….. and you look out for your viewers ! …….
A big hugs. Prayers for your continued successes and one grateful thank you from a se for getting back on their after long illnesses and much back tracking and clearing my financial self 😊
At 23:30 love the offer to buy groceries purchased by credit card analogy. The analogy might even be stronger if someone first offered to pay $150 cash for $200 groceries which of refused is followed ny am offer to make the credit card payments. Boom. Subto grocery negotiation.
I am confused on this because with his offer i would be paying more
He is very smart, bring him back more information creative financing. Thank you so much
Where can I find the google docs with the list of title companies or attorneys for each state
Ok to prove this someone starting out has 5k or 10k what should they invest in and how
Please bring him back! I have learned so so much, thank you!!
why would a real estate agent let you take over payments on a house they spent money trying to sell? Do you pay the realtor a 2.5% commission for connecting you to the buyer?
In his example with Mario for the sale of $3million 50 year note at 4%. Is that also incorporating principle? And what happens if pace decides to sell the property any time prior to the note expiring. Does he then just balloon pay the remaining balance to Mario?
My jaw is dropping...!! I could listen to him speak for hours...!! Such great info
Have pace come back! Great Episode!
Great show, where is the list of title companies/attorneys for all 50 states?
Agreed
Bring Pace back!! What great lessons shared in this episode. I need to listen again to get it all down. 🔥🔥
In seller finance, if the buyer fails to make payments and the buyer holds the deed, how does the seller get the deed back? It seems like the seller would incur significant legal expenses. If instead the seller holds the deed, they can foreclose easily if the buyer fails to pay.
I’m also wondering how that works.
He explains in another video how the deed is held by a 3rd person . Or something like that . He does have an answer for everything. Just got to find the right video 😊
@@romi929 You did not read what I wrote which is that if the buyer or a third party holds the deed; and the buyer fails to pay, then the Seller incurs significant legal expenses to get their property back. Compare that to the Seller holds the deed and the buyer fails to pay, in terms of legal expenses
Can you post the list of Attorneys for each state, familiar with creative financing, that Pace mentioned?
I second this 👍
I third this
Yea i dont see the list of attorneys he mentioned
Research. He can't hand everything to you.
@@jenniferfinegan2362 Pace said he had it in Google Docs and The interviewers said they were going to put the link to it in the show notes. That is what everyone is referring to.
I want to learn all about this stuff. I have a house that I’m soon going to rent out. I would love to learn to buy property’s like this and rent them out. I am so glad I stumbled across this channel.
Great show very informative, easy to understand, where even a novice can understand!
Wow Pace is a genius!!! Thank you guys for so much value!!! 🔥👍👏
Great episode!
I’m looking but haven’t found the list of 5 title companies or attorneys in every state that do creative financing deals. Please help.
A LOT of people aren't willing to do creative financing. It will be very hard to find them
The google list ??
Tony you said it best! When you get started it’s very lonely! I have found some people that are helping me but inside I feel I’m letting them down because I’m not going fast enough. You two put out my favorite podcast/live cast. I love Mindy and Scott as well as David and Rob, but Rookie gets right to the heart. Thank you! This always inspires me!
And after I finished listening 😂… this was an amazing episode!!
I am a first timer to pace’s content. is his primary strategy “subject to”purchases with multiple exits anyone?
The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.
*ROCH DUNGCA-SCHREIBER* is the best in this space, I'm happy to come across these recommendations. I have worked with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.
My uneducated thought is that the subject to deals would work better on homes with minimal or even no equity; low interest rates; and the owners stuck with the payments; therefore, you as the subject to buyer is able to only pay a minimal amount since there’s minimal or no equity and then your strategy would be a lease option with maybe a 15% premium on the monthly payments plus lease option payment. If the lease option or default, then you just do it all over again and collect another lease option fee of five to $7000?
Wow...Really Real Insight
There are some missing pieces of information. What was the loan evaluation ratio when you add up the underlying debt plus the private money loan of $55,000? The private money lender would not loan the $55,000 unless there was an equity cushion after his money.
We've survived on creative finance and unlisted rental.
Where is the title company google sheet????
Im buying every program this guy offers lol great stuff thanks so much definitely liked and subbed cant wait for your next episode! 🙏🏾😁
Is the Due on Sale clause ever called because the lender doesn't want the new owner to have the bemefit of the below market (i.e. low) interest rate at a time when msrket interest rates are much higher - as they are in the current market?
That example of the San Angelo deal sounds shady AF. No appraisal and you're gonna pay 6m?
Great content I have 20 investment properties myself no bank or credit all creative finance!
Congratulations, would you share how to transfer insurance? Do you keep the seller on the policy?
Typically when doing owner finance deals there’s no mortgage on the property on the sellers side so if we agree to set up a escrow account at closing we agree I the buyer pays the mortgage plus taxes and insurance monthly or just make the mortgage payment directly to the seller and you pay taxes and insurance separately
Sometimes the sellers don’t have insurance especially if the property is in very rough shape
Teach me omg😢
Any update on the list he said toward the end? I checked with the show notes online and didn’t see it. Thanks
He's not going to.. u need to do the research
I didn't see it either.
@@jenniferfinegan2362 Pace said he had it in Google Docs and The interviewers said they were going to put the link to it in the show notes. That is what everyone is referring to.
Learn a lot abou creative financing , thank you pace and Tony Ashley for asking questions. That made it easy to understand. Get pace back on and do a live deal
Pleaseeeee have him back like tommorow!!!!
I don't know about selling the car with payments privately, that is incredibly risky, not to mention if a bank does not trust a person with a loan then you should not either.
I would love to see it live💯💯💪🏿💪🏿💪🏿❤️❤️❤️❤️
Bring pace back!! ✌🏻✌🏻
Do you typically make the first payment or the first few payments or do you start payments at a future date to give you time to get a tenant and start cashflowing?
Oh my God amazing, no words
For seller finance and subject to deal, I am assuming the title will change to the new owner, but who pays for the property tax? Does the property tax get re-assessed to new sale price? Who get the tax write off for the mortgage interest payment?
Who ever is on the deed.
Please bring him back!
This is gold
So.. When is it happening,nxt week?
Great episode btw
I listened to this on the podcast first, then it was recommended on RUclips. Awesome stuff, I’m a huge fan
So awesome thank you!!
Can we get that document with title companies that Pace mentioned? I'd love to have that... thanks!
I second this.
Everyone on that set is confused except Pace😅. I’ve been trying to figure this out. He may be a middle child so scattered. I think he said something in the end ❤
What happened to Pace's 5 title attorney list in your drop-down section.. you didn't give it to us
Love Pace, i have heard this before but he made it so easy to understand and now I can have the confidence to do this. I am going to try it - I'm newbie
Can he please come back - please please... Let's do this - I am in.
Thanks
I’m looking for the link to the 5 creative financing attorneys for each state… 👀
If there's an agent on the deal, who pays that commission? And we have to assume the Title Co gets paid for that transaction, but is that considered title insurance? Seems like there would be some money to complete the deal...what are the typical costs to get the deal done?
Subscribed. Good content
Hello what and where are the bonus extras when you pre order the book I’m not sure on how to get them my book came in yesterday thanks
Pace its like a wild bull, he finds the way out easily 😄. Love his energy.
Possession is 9/10 of the law
Where is the link to the title companies Pace promised at the 38.48 mark?
Someone help me understand how the debt-to-income left the sellers name without transferring to someone else though payments are still required to fulfill the mortgage. Refer to part: 31:20-32:50
Weststar loan servicing
Loved it!
Game changer
I tried this and seller wanted the cash right away because they wanted to buy something quickly with the funds. Any tips
So helpful!
We need more content from pace!
PART 2 of buying a property live?
How do we take over payments if there is no one that verifying our income source? Like can a college student do this seller financing
The Morby Method hybrid is the best. No money in the deal.
Unfortunately that system won't work in uk nor Ireland or Europe or anywhere else outside USA. There is demand for houses and flats so the sellers are not entertaining opportunists looking for weakest links. I don't wish to live in USA but I would love to have same opportunities here in Europe and UK. ✌❤🍀
But, are they getting their asking price?
wow. crazy good info!🐒 does any one see the list in the description, for lawyers, etc in each state
What about missed foreclosure payments ? And what about inspections?
GET HIM BACK!
I would love to take this course
call him back!
Do you need to have a real estate license for these kinds of deals?
no
Wow, again so much great information. Thank you for bringing it to us.
For the 3M deal without appraisal, suvey or inspection, who is in the deed? How do you close these deals, lawyer?
I suppose he assumed all the risks .
None of this is required is only required if you get a loan from a lander .
If you refinance out and have enough money to pay off the seller early can you avoid paying all the interest from the years down the road? Like say you make a deal of $100,000 at 5% for 20 years. At the end it's like 159k. What if I had enough to pay the 100k and whatever interest up to that point at like 2 years?
you can do so as long as it is agree upon signing the contract
Unless you have prepayment penalties in your contract you’ll be able to do it but why would you do that? Interest rates are higher than 5% now so instead of paying anything off I would put that money into another investment.
I think the whole point here is to use as less of your own money as possible . Invest with other people money and have fun with your own money 😁
Does anyone know where to find Pace's google sheets?
"One thing that we’ve done is we’ve found five title companies or title attorneys in every single state across the country and we’ve put them on a Google sheet. So if you guys want, I’ll give that to you guys, you can give it to your audience."
How did you do that ? Can I have it please 😃🙏🏻
It sound so easy., but my question is : can anybody do that or it’s just possible for him because he has the business profile already. Between business companies anything can be agreed., are they going to agreed anything with a broke dude like me.?🤨🤔
If the seller has equity you can’t do subject too without cashing them out on the equity, correct?
Exactly! The more equity they have the more you got to pay that too .
Where can I find the title company information?
Can this be done I n Canada.?
Good info
How was the truck deal good for Jose again ? lol
When is he coming back?
what will happen if the banks crash n close? (silicon valley)
Thank you Mr. Pace Morby!
Any updates to the listing in all 50 states