Creative Finance 101: How To Structure The Entry Fee
ฝัง
- เผยแพร่เมื่อ 18 ต.ค. 2024
- Welcome to the Creative Tip! In this episode, I reveal the 7 steps it takes to obtain a property using Creative Finance known as the "Entry Fee." Whether you're looking to lock down a real estate deal for yourself or wholesale the creative deal, these steps are ESSENTIAL!
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Learn the basics of the entry fee:
• What is the Entry Fee?...
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🚧🚧🚧 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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 TH-cam video for entertainment purposes ONLY ❎
This video is by far the best for beginners in real estate! I’m mind blown and was in dire need of this knowledge! THANK YOU SOOO MUCH PACE!!!🎉
You’re the man bro! You’re exactly right, you don’t think of all the “little” details. Thank you again! 🔥
Would love to see a vid on obtaining cash investors for 0 cash out of pocket and how that’s written up.
Dope idea! Will look into that! Thanks!
The more way I hear creative explained the clearer it become. Pace your energy is phenomenal. He applies mental science to attract what he wants. He's the real deal. I love it.
@pacemorby Pace may have updated this by now since its 2 years old, but he forgot that if the deal came thru a real estate agent you gotta add their commissions to the entry fee. Finally, don't forget, you gotta pay back wherever you borrowed the money from which affects your bottom line cash flow. Wow... I'm learning so much I'm surprising myself! Thanks Pace!!!
🙏🏾
Yet another awesome video. Excellent job Pace.❤❤❤
Would love more whiteboard videos
Whiteboard videos, got it! Thanks Dennis!
Watching all I can, soaking up knowledge. I have zero critiques on the video. Just learning what you share in these videos is so inspiring & hopeful & helpful.
I appreciate that!
Excellent training session Pace. When you're structuring this business, there are so many aspects to build a solid platform that it becomes imperative to have information like this. There is no way we will ever miss any of the 1-7 steps and be caught off guard. Thank you very much, keep up the GREAT JOB!!!
Love it! Appreciate you bro. 🙏🏽 Glad that you're getting value from what I'm doing. Share it with your friends
This is awesome! Thanks!
Excellent content. I listen to all of your old podcasts while at work. Catching up. Always pause and take notes. How to calculate Entry fee was one of my notes. Thank you for the basic breakdown 🙏🏼
This was awesome, I was getting frustrated because people say no money, yet you get started and all the$$ come up. Thank be you for be walking us thru the actual costs to get these kind of deals
You're welcome Mona!
Exactly! It's like, F I N A L L Y, a human being that doesn't 'snake oil' you for an hour(s) of guru b.s. just because they realize desperation has or is closing in .
Just wanna say you're an amazing teacher. Rarely is my attention held so well and I love that you're not all over the place. This video breakdown worked wonders for a beginner like myself trying to educate myself before I get into searching for a deal. Thank you!!
Wow, thank you!
DiTO❗️
I truly wish that I'd come across @Pace Morby loonnnng time ago! Focus, clarity & actionable. Rare blessing indeed!
@@PaceMorby😮Where is the video where you explain how you should be below 15% of purchase price for your entry fee to wholesale it?
This was absolutely fantastic! I have never heard anyone talk about this. Thank you.
As always, luv the simplicity' of your presentations....😊 Greatly appreciate them
Thank you so much 😀
Thanks for showing this. I have heard you talk about it and forgot to look it up. These videos help so much in reminding me. I didn't think about putting all these together. 🤦♀️Thanks for looking out for me 😊
Gloria. I'm so glad that this is a great resource for you! I got you!
Awesome Pace! Love the way you break it down and point out the gotchas.
Thank you brother!!!
Very helpful! Now i know how to compute entry fee. Thank you Pace!
I was confused but NEVERMIND! Thank you so much for this video 😁
You’re a king Pace.
Thank you my guy! 🙏🏽
Thanks for the quick lesson Pace!! Really appreciate it.
You're welcome and glad to hear you learned something from this video!
I love the way you explain things. You make the complicated simple. You're such a natural teacher. These videos are awesome bro.
Glad you like them! Thank you!
Thank you for this video. It's an excellent breakdown of a question I've had for a long time!
Michael. Glad this helped you!
Great information for a beginner. Thanks Pace!
This video is amazing. Thanks Pace. Look forward to becoming a student. Great Value.
Thanks James! We're ready for you, bro. go.subto.com/pace-yt
My guy! I've learned more in these 20 minutes than I have in 3 months of YT University! Thank you!
P.S. my apologies for the 3 haters who disliked this video.
Awesome! Nice! Thanks!
🎯
awesome breakdown thank you Pace!!
My pleasure!!
Very informative! How do you raise private money and structure the terms with them so that both party can benefit. Also how does the paperwork goes with private money? Or do they just write a check to you and you promise to pay them on XX/ XX days. Or do you do a promissory note with a deed of trust. Im a bit unsure on how that works.
Would love a video on PML to see how that works!😊
Love the questions! There are 3 episodes for it.
1st Part:
th-cam.com/video/TDuvf5rkEKI/w-d-xo.html
2nd Part:
th-cam.com/video/hEsFeOxbcYY/w-d-xo.html
3rd Part:
th-cam.com/video/4w2LA8LSD5g/w-d-xo.html
@@PaceMorby WoW, Thanks!
This video added are to my knowledge base. Thank you, I liked the sound effects and visuals on a side note. Keep sharing this creative informational videos. I learned this way
Hey Rachel! I appreciate your comment. Thank you!
Great vid Pace, thanks for referencing in Sunday Service .I'm creating my entry fee template now to add to the arsenal.
Hey Jeff! Great!
Pace this is 100% on point to be prepared to close the deal. Your presentation is very informative. You are the Man. #1 numero uno papa.
Hey bro! Glad it was helpful!
This is a good video and you explained the different items to make everything easy to understand!
Glad it was helpful!
This makes so much sense!! Thank you for spelling it out!!! You rock Pace!!
Thank you! Glad you enjoyed my content!
So much more content-dense and concise than your live shows.
Love the feedback, thank you! Anything you specifically want to see bro?
This is gold !!! Thanks Pace
Thank you! Glad you enjoyed my content!
Great video especially for a newbie.
Glad to hear it was helpful! Thank you for tuning in!
Thank you so much for all this info. You are amazing! I appreciate you and your team. 🙏😊
Thank you Geah! Glad you found value in this video.
Thanks Pace, this was so informative. Keep giving us the jewels of creative financing!
Committed to the mission!
GREAT video!! I saw your shadow on the white board for most of the video 😄 I loved the voice change though!!
Thank you Blanca. We are working on fixing that!
The voice change is hilarious 🤣.
hi Pace, you did a great job. Amazing like always.
This is amazing , easy to follow and your lessons are straight to the point
Matthew, thanks bro!
Amazing delivery!!! So easy that a baby can understand this format...well maybe at least a toddler.
Thank you for the feedback!
Thnk you Pace you r da Cap'n of the sub2 on the floating platform of creative finance in a rising tide.✌🙏
Appreciate you Malcolm!
You a boss big dawg!! Thank you for all the value you provide. It really helps me put things in perspective.
Any time! I appreciate you saying that.
Pay attention guy's. You don't find this anywhere else. Pace is the goat!
Bro thank you so much!!
This was so informative. I learned a ton. Thanks so much.
Dope! Thank you!
Pace thank you for knowledge!!
Hi:
Great introduction the top down approach of computing the Entry Fee, not to nit pick, How about? the holding cost: Property Taxes, Property Insurance, and Property Management Fee if you plan to rent and have some manage it for you.
Looking forward to learning how to get private investors.
Interested in getting properties nearby Austin,Texas through creative financing
Contracts through contacts.
@AberrantArt Hey man! I made a few videos about how to find private investors. Here's one of them. th-cam.com/video/-X-Zk-zHkWI/w-d-xo.html
This is one of the best informative videos on this subject adding a lot of value to this creative finance with a few tips on how to get the deal closed. Love it!
Glad it was helpful! Thanks Gerardo!
Always giving value. Pace you the man!! 💯💯💪🏼
That's what I'm talking about!
Great, simple teaching. Very understandable, much appreciated. Thanks Pace & team.
Glad you're enjoying the content, Luke! Feel free to subscribe and hit that notification bell so you don't miss out on future content!
It was all great Pace, thanks. Just what we need for a deal to make sense for us.
im digging this!
You’re the best, and I love to share it and I’m spreading good words😊👍
Bahrija. That means a lot!!
Loved the animation!
Sunday Service 11/13/22 homework ✅
🤓❤Repetition is the mother of skill!
I never tire of hearing you teach even if it is back in time. 😊
Bro Thank you for your transformative community
I appreciate your comment. Thank you!
Thank you Pace. I’m a big fan.
I appreciate you John!
Helped me tremendously understand the entry fees in the process and what's involved. Diving deep in the channel and changing my life. Thank you!
So glad to hear that, Kyle!!
Great content, brother! 🙏 💣💥🔥 Thank you for taking the time to share your knowledge and give back.
Chris, broo!! Appreciate you and thank you for being a subscriber.
@@PaceMorby Sending in my application to be part of the Sub2 crew tonight so look for my application. 💪 Ready to light the fires.
Awesome! Hope to see you inside the mentorship!
This is the obscure information that I have been looking for. Now I can move forward and into business. Thanks Pace.
Sweet! So happy you're able to gain value from this bro.
That's is the best formula for creative financing yet that every beginning INVESTOR to learn and have in there toolbox.
Thank you man!!
That’s very informative video. Thanks pace
Good to know this was helpful! Thank you for being a subscriber, Jean.
Pace. I love how you simplify everything to lamens terms. Will be purchasing your course soon. When will you be doing the video on how to acquire private lenders to purchase your Subject To's? Perhaps thats where your cost of acquisition comes into play. Last thing, do you purchase your Subject to deals and Seller Finance deals via in your name, in an LLC or a Land Trust. I love the concept of remaining anonymous. Are you going to do a video on the pros and cons of purchasing a Subject to deal via one of these ways?
Awesome video Pace!!!
Shannon. Thank you and thanks for being a subscriber!
AWESOME! AWESOME!....this answers many of my questions....does this formula work for all creative financing?
@PaceMorby team, please lmk the best video (hopefully a short one haha) on now determining COC return! I can’t seem to find one! Please & thank you! 🙏 …if you have a more than one video determining this, that would be great! BTW thank you for the knowledge drop! 😎✌️
Hi Pace & Laura, I want to thank you both for sharing all your knowledge with us. Your absolutely amazing.
My question to you is how much does it cost to join your community and how do I go about becoming a part of it?
Join and be a part of our community: paceapproves.com/communityytp
That was really good meat on the bone info Pace!
tell your friends! Thanks!
great content, thank you Pace
It's my pleasure, Dung! Is there anything you'd like me to break down in a future video?
@@PaceMorby private investor money video idea is also a great content 😁
Excellent, thank you brother.
Thank you brother!
Thanks Pace..
Thanks!
Simple and to the point ✌🏻
You got that right! Thanks!
Epic, as always Pace. Crush mode!
Awesome! Thanks!
Tons of value
Thanks
Hey Mohamed! Glad to know you've gained tons of value from this!
Pace. Thank you for prepare the video, I just gave you a thumb up, good content ; ) Question, How do you know if you need to include the repair cost or not? And how much? When we haven't done any property inspection yet?
Sunny. I highly suggest you do the property inspection. It's always a good rule of thumb to include repair costs for even the nicest looking houses.
Great information. I'm so interested in creative finance. Thank you
Sharon, you are very welcome! Thank you for your comment!
Great Video, i would love to understand more when you get the money from PML how you structure that end of the deal.
Pace, I have to disagree...Jesus is the Way, the Truth, and the Light 🤣🤣🤣🤣 haha but thank you for this video!! Powerful and informative
👐
Great content! Thank you
Thank you man!
Thank you for sharing!!
THANK YOU for being a subscriber. I appreciate you.
14:09 , bye and hold strategy & you also need to know this for wholesale
very nice and understandable thanks
You are most welcome, Royce!
pure gold pace.
Thank you Ben!!
Pace I love you, you are a giver person 💪🏻
Thanks man! 🔥🔥
Great information on entry fee.
Roderick. Glad it was helpful!
This was very informative ❤😂
I'm so glad!
Could you make a video on what’s next after selling sub-to.
Appreciate the suggestion Liam. Thank you!
Oh fook!!! Sh#t is fire 🔥!!! And the pop ups are sick. For sure this channel will be well over 1 milly subscribers in a year at this rate. Glad I've been keeping tabs. Let's "simplify" " simplify" "simplify" thank you LORD!! * I mean Pace! Lol
Brooo appreciate that so much!!! Thank you!
Thank you for this Video
Joshua. You're welcome bro!
Very insightful
Glad it was helpful!
Pace! Great video! You always do it right! QUESTION A - what is your suggestion on how to approach the subject if a seller is being proactive and wants to talk with their mortgage company, what is your way of addressing this with a seller before it’s too late??? Thank you!
Crystal. Sorry I just got to this now and I hope it's not too late! My advice would be not to talk to the mortgage company about it. All the docs with subto will take care of that! Let the seller know upfront you, the buyer, will take care of that!
Hrs Pace what's the link for the zoom next week??
Hi Pace ... i'm a newbie..... got a lot out of entry fee ... i have a lot to learn about creative financing. I have some questions for ya. How do you figure out the revonation cost and is this cost based on your exit strategy? You mentioned skip tracing. do you have a video or youtube on how to skip trace and key issues you should be aware of when you skip trace. What are the type of private funding and how do you go about raising private money. Thank you for sharing this valuable information
Hey! Thanks for tuning in! Check out my TH-cam channel, I did make videos on all of those. Here's the 3 part podcast I did on raising private money for real estate.
1st Part:
th-cam.com/video/TDuvf5rkEKI/w-d-xo.html
2nd Part:
th-cam.com/video/hEsFeOxbcYY/w-d-xo.html
3rd Part:
th-cam.com/video/4w2LA8LSD5g/w-d-xo.html
This is awesome!! Are you including your rental management in #6 under maintenance?
Yes I am!
You mentioned that the property was in an HOA. Could you explain how doing a subto works when taking over a property in an HOA?
You are amazing!! Entry fee is everything. Is this number you use to determine the MAO?
Hey Vincent! To determine the MAO, I use this calculator. pacejmorby.com/mao
Great Video my man!! How much does your PML charge for the total amount of the $22,500 ? Also wouldn't that be added to total cost to purchase the property?
Amazing video
Can you make a video telling the negative of sub to? If you don’t make payments, due on sale clause, etc.
That is a great question. Thank you for asking that Douglas!
Hi Pace,
For item 5 Renovation, what elements will tell you the reno amount is too high to get a wholesale fee or even move forward with the deal? Thx, Uv got Great 👍 knowledge. (love the John V., John Lennon logo vibe ✌ )
Great video.
So awesome!