527: 300 Doors, 100% Creative Financing with Pace Morby
Pace Morby’s name has become synonymous with seller financing, subject to deals, and flipping. He is one of the most educated players in the real estate game on all things related to non-traditional financing. He even taught Brandon Turner, the author of Investing in Real Estate with No (and Low) Money Down, a thing or two on today’s show!
Originally working as a contractor, Pace was hired on as a flipper for some popular iBuyer portfolios. He flipped over a thousand homes a year but was doing so without building any wealth for himself. This is when he began flipping his own homes and slowly, steadily building a portfolio of rentals that would provide him with the cash flow he desired. Did we mention he did this entirely without bank financing?
Since Pace is the go-to investor for all things creative financing, Brandon and David took advantage of his time on the show to ask him about subject to strategies, seller financing tips, and how he takes a seller from consideration to closing. If you’ve been wondering how to build your rental portfolio without down payments, credit checks, or preapproval from banks, this is THE episode to listen to.
In This Episode We Cover:
Outsourcing your business so you aren’t the driver of every deal
Structuring a subject to deal and using it to create a win for the seller
Why you shouldn’t be afraid to offer full price on a seller finance deal
The first phrase you should say to any seller when viewing their property
What to do when your “due on sale” clause comes to fruition
How to find work, meet investors, and grow your brand through social media
And So Much More!
Links from the Show:
BiggerPockets Podcast 493: How COVID Changed Real Estate Forever (+How it Didn’t!) with Ken McElroy
Pace Morby Interviews Jerry Norton On How He'd Get His First Deal
Freebies from this episode:
Check the full show notes here: http://biggerpockets.com/show527
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