IN PERSON Seller Appointment | How I Talk to Sellers About Creative Finance
ฝัง
- เผยแพร่เมื่อ 8 ก.ค. 2024
- In the second part of the seller knockout series, Pace Morby meets Sherrilyn, the seller at her property to discuss her options. He emphasizes a crucial point: agents usually offer just one option - to sell traditionally and pay all the fees. Creative finance, however, provides multiple and often better options.
Pace reviews local comps and introduces the "seller net sheet," which outlines where all the money goes and what the payments will look like. Sherrilyn shares her frustrations with her agent's lack of effort. Pace offers advice on working with agents and what to ask for to avoid similar issues in the future.
Pace breaks down the costs and net proceeds if Sherrilyn works with an agent, highlighting what agents often don't disclose. He then explains the benefits of choosing a creative finance route with him, detailing how he would maximize the property's cash flow using a PadSplit (rent by the room) strategy.
They discuss various options: selling traditionally through an agent, selling to Pace for immediate cash plus more money over time, or partnering with Pace for ongoing returns without management hassles. He advises Sherrilyn to consult a real estate attorney to ensure she understands the deal fully. It’s important to note that Pace encourages her to ask about the reasons she SHOULDN’T sign this deal.
Pace instructs Sherrilyn to discuss everything with her agent and then decide which option makes the most sense for her. The third video in this series will follow up on Sherrilyn’s decision. Like, comment, and subscribe so you don’t miss a thing!
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Chapters:
0:00 - Intro
0:22 - Seller Net Sheet
1:19 - Option #1
3:55 - Option #2
7:47 - Option #3
13:55 - Option #4
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⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️
🚧🚧🚧 DISCLAIMER 🚧🚧🚧
Pace is 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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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.
What a great explanation of the seller's options. Pace should be training every agent on the planet how to do this!
“Sheeeeeeee” had me dead 💀😭😂
Pace showing you some GRATITUDE for how much you donate to us as students as well as citizens, THANK so VERY VERY much for the INSPIRATION, YOUR PROVING how GOOD OF a LEADER and TEACHER YOU ARE. Excited to Learn more and to Be in the SUB TU Community soon.
fire video, love how you emplasized the 4 months of payments
This was soooo good bro!!
This guy is a legend
This was MAJOR GOLD!!! Thank you for sharing this with us Pace!!
My pleasure!!
Thanks!
Pace is that Guy 💯
✌🏼
This is GOLD
This is great content. 👍
I totally go into partnership with him! Hope she sees the big opportunity here.
Always has smart understandable strategies
Awesome Pace !!!!!!
Thank you Pace! Working on it!
✌🏼
🔥🔥🔥🔥🔥 real life fire 🔥
I just love this dude!
And I love you!
Awesome video. Explains a lot.
Glad you liked it
Sounds great but how would the average person be able to convince the seller that he’s not going to screw this deal up with his renovations, trying to refinance or in the rental process of all the bedrooms. Good information though . I’m excellent with finding tenants but I don’t usually rent short term and with short leases there is more opportunity for something to go wrong. Whereas in a traditional lease once you rent you might be good for 2 or 7 years. If you have good reserves in the bank then this is great since there is room to screw up.
You’re right, you need at least 6 months of reserve to have a cushion in case everything goes wrong. That’s why you need to have a stream of income beside the real estate specially if your new. If you are able to have a PML who is able to give you those reserves. It’s doable if you are able to wholesale or fix and flip on the side or other strategies
the average person might wanna educate themselves, find a mentor or investor to partner on a deal like this. this is can be an advanced strategy for someone new
Not convincing anyone. You give options they choose
He is the 💣
Unique video …excellent perspective…learned fast with this one!…Thank you. [the B Roll guy at 11:24 has Pace’s hat, beard and pimp daddy clothes …Ha ha!]
🤣
That was a good one. I'm going to send that to agents. I have explained the same thing to a seller. That has an 8/7 property. I've explained the partnership option and even that part doesn't sound pleasing to him. Need help closing.
A lot of sellers do not want to wait years on end to get paid this is why they want it sold now. Option 3 is quite interesting if the seller actually has a somewhat investor brain.
Assumption is a greatest enemy of success.
Who has a mls contract??
Would someone mind sharing the link for Part 1?
Here ya go th-cam.com/video/i6FidhS5vb0/w-d-xo.htmlsi=LRh3c5zDiASmDfZQ
@@PaceMorby ❤
Hurray for part 2, and for meeting Sherrilyn!
brooo
4% Concessions / closing costs as the seller? What market is this lol In most midwest markets right now the buyer is covering all closing costs and not getting any concessions haha
😎
Always amazing!
Thank you! Cheers!