Why Would a Real Estate Agent Sell on Creative Finance?
ฝัง
- เผยแพร่เมื่อ 8 ก.ย. 2022
- There are countless reasons why a real estate agent would agree to sell subject to (subto), seller finance, or all sorts of creative finance ways. Watch this full video to see my top questions for real estate agents, hear her side of the deal, and learn how you can close similar deals with “Unicorn” Agents…
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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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 ❎
Being a Dad when it matters is so important. Dolf De Roos performed an entire 90 minute presentation for our group holding his Daughter that was not feeling well and she slept the entire time. Pace is a Rock Star in both of those arenas.
I appreciate that Robert.
This was awesome
The agent was really struggling answering questions. Pace was very patient.
She reminds me of so many other agents that I have came across. Just because she don't know about it she rules it off as a scam or something and give the short answers. Alot of other agents aren't even willing to understand how it works. So speak for their seller and automatically rule creative financing out
I hope that by watching this video the agents understand creative finance better and take the creative finance option. Share this with the agents you've come across.
Great interview! Love the consistency to both sides of the deal Keep it up Pace!!!
This video is one of the many reasons why I love being in Pace's community! Working with agents to better solve seller's issues through creative financing is how both investors AND real agents can increase their profit.
Need to get back out there and find more awesome agents to level up by doing their first creative finance deal with them!
She’s absolutely right! As an agent here in NJ, we have to use our sales contract.
Thanks for all the contact Pace! You are the GOAT! Im soaking up all the info , now im just trying to take action with a creative finance deal
Pace you came through!!!!
I asked about this on a Wholesale Hotline and this video is exactly what I need.
Thank You!!!
Always come through for you guys.
Thanks for this. I learned a lot.
Glad it was helpful!
This was fantastic love this !! thanks for sharing!!!
Glad you enjoyed it!
Pace's knowledge on Creative Financing is just amazing... Thank you Pace.
Appreciate you, Alexander.
Great one.
Pace, Great Presentation! I'm also an agent/investor and this makes so much sense! More and more Sellers are going to start doing this so being in position to do so is awesome! Thanks for doing this!
Mark. Thank you and glad to know this was helpful to you!
Now where the markets at, real estate agents should be dam greatful if they know create financing/ subto. Realtors had it super duper easy when houses where flying off the market. Now ain't sh*t selling. But if you know creative financing, realtors have a better chance to get their commission. I think this is the best time ever to do creative financing with an agent. Goal, to convert 1,200 real estate agents on how to add creative financing to their tool belt.
I am grateful for you and your team Morby, you all are highlighting life changing opportunities, thank you!
Our pleasure! I appreciate it!
This was such a GREAT video! Pace, thank you for giving great content.
Karlyn. You are so welcome!
Another incredible real life example of creative financing. Loved the realtors perspective. I’m a realtor too and would’ve had the same reservations as her. Thanks for making this so simple to understand. We’re conditioned to think a certain way when it comes to real estate. Creative financing is the “New Frontier.” ✌🏻
Seth. Thanks so much! I hope we do a creative deal soon.
@@PaceMorby Let's do it! I'm negotiating a seller finance deal right now. (1st time ever!) Would love some guidance!
Thank you for showing the agents views. Doing this together helped me understand some of her part. This was useful.
Glad it was helpful!
Thank you Pace for all the videos you are making, they are so useful, and thank you for being so transparent! You mentioned you work with a lot of people to complete a subto transaction. What kind of team members do I need, how do I find them and what is each person doing in the transaction?
Thank you Pace for all the content you put out for us. You are the best in the creative finance arena. Drop the mic Pace.
Love you bro. Thank you!
Incredible info... making me VERY excited to start w this !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
This is an awesome video !!
Integrity .... Right On ✌
"good job baby" I love it, I'm a mom of 5 and doing creative finance. Thanks Pace for allowing us to understand all of this at a very basic level!
Shayla. You are so welcome! Just glad to know that this video helped.
18:30 best information right here
Since you put $50,000 down, did the seller make $21,000 after paying $29,000 for the commission? Thanks so much for this content, you are helping so many people.
Would love to get the answer to this because it was confusing when he said escrow paid her. Said it right around minute 21
Yeah that’s my question too
This is a critical question. Someone please reply.
I'm pretty sure the seller made the payment but through the escrow. Like he said, always get a middleman that has done this before to do the transaction. So I'm assuming all past and future payments have gone through them also, not the buyer paying the seller directly
The 50k was him paying the interest upfront
Great video!!! I have a deal right now that I'm approaching the agent with a subto! I'm hoping this will happen!!! Thank you for sharing!
Fingers crossed! 🙏
She's a unicorn agent - it's awesome she stuck with the entire process of several buyers/wholesalers of not getting her questions answered, her biggest frustration! Need to explain process very simply.
love these stories
Wow great video! Hope this help all agents work with investors now
Anthony. I hope so!
Flipping Genius Thankyou I was only Low Ball Offering Agents and Sellers Now I Have more Ammunition In my arsenal. Thankyou for being willing to give FREE GAME
Wish she had an @
She was very authentic
Excellent
Your on FIRE pace this is great content 🔥💥💪 GOAT
Jesse. Appreciate you.
I am learning so much. Thanks so much pace! Another one down😂
Yoli. Awesome! Glad to know you're gaining value from this!
Love this interview with the agent! Creative financing is so much easier than a cash deal. I'm focusing on finding lots of Unicorn agents for my business. Found 1 so far. Thanks Pace! 🔥🔥🔥
Timothy. That's awesome! Glad to know you gained value from this.
What protects the seller if you don't make the payments?
She did great! Other than lying that none of her listings have sold for less than she listed it at… lol!!
Just be honest
Absolutely 💯
Thank you very much for the great content. Could you please highlight again, from whom and how much commission did she get? I am trying to understand, who is supposed to pay a commission to an agent to present the offer to the seller and make it done. Thank you very much
they both paid, on both sides 2%
Love what you're doing Pace, but after my just a couple experiences with agents, I would rather go around the agent or just not even try.
I've had 2 agents tell there sellers not to sell to me after leading me to believe they would work with me.
Headache is not worth it.
But if I could find just one honest real estate agent then I know I found treasure.
Been having the same issue. They want very little to do with me after I suggest seller carry. Some of the listings are half a year old and yet, they go in circles as if a full cash offer is awaiting them. Not sure how to get in touch with sellers directly bc if I could, I think I'd have much more success.
@@blondyewest skip trace the owner
Hi Pace! Thank you so much for the video and always sharing your knowledge with us. I’m starting to understand subject to and it’s all thanks to you guys. I guess where I’m still confused is how to answer the question to the seller that what if the lender finds out and calls the loan due. Or what if the seller doesn’t want the loan in their name anymore and they call the lender themselves and tell the bank to call it due? Has this ever happened to you before? I guess I’m just thinking worst case scenario. Will I be forced to pay off the loan that point? Thank you again ✌🏻
Check out this playlist th-cam.com/play/PL2Y6uEs9DYr1im5O5e8Q5QyOm_5UusFO7.html&si=qeqkzmeoZHmrlmaN
Mic drop...11mins 30 secs..as a broker I can't agree more, be credible and or have someone else who has the money and or credit because it does cost us family time and commissions. As a result I filter heavily now on the front end when working with buyers. Note: I too am an investor, I get what you are dealing with as well, especially if you are just getting into the game. Don't let this discourage you investors, just please don't skip the homework up from on your end or you risk burning your bridge with the few agents who understand and respect what you are trying to do. Still scared: find your local REIA, and find out who the investor friendly agent is in attendance and ask for the opportunity to get their opinion (just use soft people skills). Love ya, now go win🎉
Problem solved, well done !
Thanks Allan!
She’s being very modest because she is on TH-cam lol she knows how many people you have on your page. She did her do diligence. Do you think she’s really gonna say anything negative about her. She’s a advertisement for herself. I don’t blame her.
I want to learn
I love it, for 200k equity seller financed,how much you pay seller monthly or how it works?
Pace, what are you doing with the property? 45:08
Do you have a book Pace? If so were can I get a copy?
what was Pace Morbys exit strategy?
What if I am a buyers agent and the buyers can't qualify for traditional financing. Can we structure the deal so its a win-win-win-win? both agents and buyer and seller?
So, who covered the closing costs and the agent's fees (29k) ?
The buyer or you ?
Paid $50,000 of interest upfront. And that takes the place of the down payment for the seller financing portion?
Healed by a child. it was a fun video thank you
Hello Pace!! You are the rock star of creative finance. Just to make sure my understanding is correct..total noobs on Subto..
Your purchase price is $730k
Current owner loan with pennymac - $450k
Potential equity to seller - $280k
You paid $50k to seller as part of seller financing. You owe $230k to seller?
At the end of the day you are paying off the mortgage for $450k and still paying the seller monthly? Is that a correct understanding?
Correct. You have two payments for a hybrid structure
Pace, what if the seller asks for credit and this is your first deal? 43:04
How much cash to close? Was it private money? I love this. I need to learn more
hml
@@carterok1554 not sure if thats a stroke or a response. Blink twice if you're in trouble
Please don't! I would never ask for your credit card information. The person who commented above wasn't me. Please be careful and don't contact these scammers!
@@PaceMorby Thanks Pace. I should be more discerning with my sarcasm. I am fully aware they are a scam. I thought I reported it already.
I’m in a similar situation. I have a coworker needing to sell, they still owe, but have it on market, how would I position subject to??
Michael. Love your question! This would be too long to answer in a TH-cam comment. Ask this on the free Facebook group and I'll try getting around to answer it. shor.by/Si74 Join and make a post!
Is there any Realtors in Davie,FL that can help me get a property via Subject to? It seems that no one knows about Subject to deal.
Connect with people in my FREE Facebook group: paceapproves.com/communityytc Let them know where you're from and what you need!
When you ask her that if she knows your exit strategy, she replied “ no” ( don’t’ care ). On top of my head, I am thinking your exit strategy got be amazing so that you can offer to pay two mortgages on this home at same time, Do you mind share ? Thank you !
Hey Meng! My exit strategy for this property was an Airbnb.
@@PaceMorby Appreciate the replay! A follow up question. How do you know/analysis an Airbnb property income? I saw one of the videos you checked on AIRDNA, is that all you do ? thank you in advance !
Damn I feel for this woman. I’ll definitely do a deal with her if she has any?
i want some of those
"pre-mls" lead/deal$
i ask & i will receive🤗
This is the same situation I'm in, except I'm trying to purchase the house I live in on subto, turned away by attorneys who are not familiar with subto 🤦🏾♂️ Pace have any attorneys that could help me in Nevada?
Contact Constant Close. Pace highly recommends them. That charge a small fee but can walk you through the process and find an attorney or title company that is familiar with those types of transactions
@@JlDaBlackSuperman I appreciate it, will do.
@@OvertimeSessionHD of course 😀
Who pays closing costs in a sub to deal. I understand that you do this without no money in....but I always see Pace is always putting money up front.
So the seller is being paid the equity in monthly payments by Pace?
Yes
My problem is that sellers are afraid to do a subject to deal because they tell me if I don’t make their mortgage payments they would have to make the payments and go to court to get the title back in they’re name. Who do I get over that issue.
How
Robert. That's why we use servicing companies. Protects the seller and our investments.
So how does the agent get paid from escrow without that coming out of the investor’s pocket? I understand how you paid 50k to the seller. Not sure where The Title company gets the money to pay the agent. Any advice is huge, I’m looking at a 4 plex that’s been in the market for 4 months (the seller is over asking) thank you!
Would love the answer to this question.
The agents commission comes out of his downpayment to the seller
Seller paid her commission
❤❤❤
When you say investors are you referring to wholesalers?
wholesalers are not investors. investors buy and hold.
@@carterok1554 thanks
Who paid the agent fees? The buyer or the seller in a creative finance deal?
Hey Matt! I'm sure I mentioned these in the video. The title company paid the agent. This property was bought through creative finance.
@@PaceMorby you kind of did, but it was vaguely/briefly talked about. What was total agent commissions paid by the buyer(title co)? 3%?
@Matt Lopez Official It's 4% bro.
@@PaceMorby perfect! Ty bro! I appreciate your time to respond.
@Pace Morby So a chunk of the $50K you paid to buyer paid the realtor?
Pace doing fire 🔥. How did the realtor get paid?
Hey Justin! The agent got paid 4% by the title company.
@@PaceMorby Hey Pace, I've seen you say this a few times "by the title company". I think some of us are looking to get clarification on if the agents commissions got paid from your 50k you brought in at closing? Because you took over payments on the existing mortgage and did a 2nd seller carry so there are no other funds besides your 50k at title you brought to the table. How else would title pay the agent?
I am a realtor working with buyers that are attempting to buy a house with creative finance. After speaking with multiple attorneys, the buyer is deciding to go with a lease-option as opposed to Subject To, to avoid the Due on Sale Clause.
Look into contract for deed/land contract/ agreement for sale next time. Seller keeps the deed, but everything else is similar to subject to
pace showed how to avoid the due on sale clause
@@matthewparker8081 yeah we considered going that route but the lease option made the most sense. The bank is already involved and denied a traditional mortgage assumption, so we want to avoid the loan being accelerated at all costs. Plus they’ll be exercising the option within the next year or so anyway.
@@carterok1554 the bank is already involved in this deal and denied a mortgage assumption. Doing the deal subject to just felt risky and client’s attorney agreed.
@@abc-pn2eb I wonder if anything would of changed if a performance deed was included 🤔🤔
Can I do deals with you in Hawaii?! Im an investor friendly realtor on Oahu
Hey Marina. What’s your contact info? We plan to do seas in the future in Hawaii and would love to work with you.
When you start talking about your different docs and agencies, I just got completely lost. It would be really helpful to have some kind of diagram or chart to keep track of all the variables involved, otherwise it seems really overwhelming and drifts into sort of make believe gibberish for me.
Hey Jeffrey. It can be really confusing. Reach out to my students in your area on the free Facebook group and they can explain the process to you step by step. shor.by/Si74 Make a post!
Is that funny that a transaction coordinator was able to answer technical financial questions about the deal and a real estate agent of over 25-30 years could not answer it? No this agent looks like she’s cool! Looks like a very nice lady who Ashley knows how to think outside the box so kudos to her! But isn’t that weird though shouldn’t you assume that a real estate broker should know all of these creative finance techniques? Especially when they’re perfectly legal?
Real Estate broker in Az would love to have Jessie, contact info as well.
You’re a good daddy! 🥹
And you're an awesome Mommy.
Yes, 100% So sweet...
You’re so lucky 💕✨💕
Love you!
So he makes monthly payments to both the seller and the mortgage company. Won't that result in really high payments? Considering the mortgage has fixed payments. It's the equity still in the property during the entire process? I would assume so
That equity would have brought down the mortgage payments to the bank....Either way, both payments should never be more than the total mortgage for the home
Who pays the agent on the deal?
The title company paid her 4%
💪😎✌️
Hey pace, i am very very new and have a strategy call with you guys next tues sept 27th. And is it possible in meeting with that lady agent only because (i heard that shes from Hawaii? Cause i am from HONOLULU myself). so maybe she can be of
help to me somehow? But, what do you think? Whatever is the best way pls lmk. I am really really want to be successful, im tired of buying courses that dont help. I feel that alot of these coaches are not legit. In fact i just got recently (scamed) & seriously was thinking of giving up. But then early in the morning around 130am i saw one of your
(commercials/ad) and somehow i prayed on it and told GOD if this person who is you, was honest and real ? I ask God to help me make the choice of giving PACE MORBY a shot! And boom! Here i am again trying to be successful somehow. Anyways, thx Pace! My intuition and gut feelings says you are genuine and full of ethical techniques. Aloha Frank
This was so confusing!! The music was loud and the realtor did not really explain the situation clearly.
When you cheat acquiring the home deed and hide it fraudulently?
It's not cheating and it's certainly not fraud
Who paid the 4% commission?
Would love to get the answer to this because it was confusing when he said escrow paid her. Said it right around minute 21
Hey Dan! The title company paid the commission.
@Timothy Douglas The title company paid it.
@@PaceMorby They paid it from their own funds? That's so COOL! Mess around and I'm going to have to join that mentorship/mastermind group
@@PaceMorby I understand that title cut the check but my question is where did the proceeds come from? Did they come out of the seller side or did you pay them?
This woman made $29k and didn't even know what she was doing! I still don't understand why the industry still uses real estate agents. It can all be done legally with AI and smart contracts. 🤖 eliminate uneducated agents and their bogus fees
In other words, she got 28k for being the agent on file. A case could be made here to say she didn’t represent her seller well since she went ahead with a transaction she didn’t fully understand, yet she signed off on it putting her seller in potentially harms way. Not a good example of fiduciary duty. She’s lucky to be dealing with Pace. Lol
Sub-to is not as complicated, the seller probably understood very well.
What? What a dumb take
First
Realtor Aram Delke Perron was GreaT! You can tell she’s a bulldog w/a bone - where every other Realtor would have Nixed The DeaL She Never Gave Up!!! Here’s to 🎉 🍷 🍻 future deals!
Great interview, but she clearly isn’t comfortable in front of the camera. She also felt uncomfortable sharing her opinions.
Agents are not hustlers bro lol they get money, no disrespect but they're employees
This guy drags out a 10min conversation over 45min. Trying to find every opportunity to pay his own back. Just get to the point man!
Totally disagree with your comment... I guess you do not Pace's knowledge, transparency and honesty....
Then spend your time watching another video or creator.
I believe I have a deal on Hybrid Financing (Sub-to+Seller). The only information I need to verify the PITI is the Insurance & Taxes, I was planning on asking the agent only problem is I don't know how I'm going to pay the agent.
I'm confident I can explain Creative Finance to them. But I don't want to call & explain it to the agent only for them to ask how they're getting paid and I look stupid and ruin a potential deal. Can anyone offer solutions?
I'm planning on whole saling this deal
Hey Mar! Thanks for sharing this. Post this on the free Facebook group and my students can definitely help! paceapproves.com/communityytc
EXTREME value
Hey Clarence! Happy to know this is valuable to you.