How Pace Morby Buys Rentals WITHOUT Cash or Credit (Creative Financing)

Pace Morby’s name is synonymous with creative financing. In fact, you could say that he’s brought back a revival of strategies like subject to and seller financing. He’s been so successful with these strategies that Pace has been able to buy over six hundred rental units this year without using a single bank loan! He believes that now, even with rising interest rates and high inflation, rookie investors have a chance to get better deals than ever before!

Welcome to this week’s episode, where we’re live from BPCon2022! We’ve brought in Pace Morby, friend of BiggerPockets, to talk about everything related to creative finance. If you’re brand new to this topic, don’t be alarmed. While some of Pace’s methods may sound complicated, they aren’t actually so difficult in practice. And in just one episode with Pace, you could be convinced to try them out on your next deal!

Pace shares how he’s finding deals, where he’s buying, the negotiation tactics he uses, and why now may be one of the best times to buy. He also discusses why sellers are so open to trying alternative financing options, how you can pick up real estate deals for zero dollars down, and why creative finance options offer far better returns than bank financing in 2022, 2023, and beyond!

00:00 Intro
01:44 From Contractor to Creative Financing
03:32 Network = Net Worth
05:19 Creative Financing Explained
12:45 Subject To vs. Seller Financing
16:14 Negotiating with Sellers
19:57 Finding and Structuring Deals
32:47 Does Subject To Work in Today's Market?
37:17 The Docs You'll Need
39:06 Connect with Pace!

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Join the Real Estate Rookie Facebook Group:
https://www.facebook.com/groups/realestaterookie
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Hear Pace’s Interview on the “BiggerPockets Real Estate Podcast”:
https://www.biggerpockets.com/blog/biggerpockets-podcast-527-pace-morby?utm_source=youtube&utm_medium=description&utm_campaign=none
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Why Investors Should Add Subject To to Their Arsenals:
https://www.biggerpockets.com/blog/2016-07-03-subject-to-real-estate?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Essential Elements of the Creative Financing Toolbox:
https://www.biggerpockets.com/blog/creative-financing?utm_source=youtube&utm_medium=description&utm_campaign=none
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Tools Pace Mentioned in This Episode:
LandWatch: https://www.landwatch.com/
ListSource: https://www.listsource.com/
PropStream: https://www.propstream.com/bp
Weststar Loan Servicing: https://www.westloan.com/servicing
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Connect with Pace on Instagram:
Instagram: @pacemorby or https://www.instagram.com/pacemorby/
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none

Episode 236

Show notes at: https://www.biggerpockets.com/blog/rookie-236?utm_source=youtube&utm_medium=description&utm_campaign=none

#biggerpockets #realestaterookie #rookie236