Can You Wholesale A Seller Finance Deal? Here's The Break Down!
ฝัง
- เผยแพร่เมื่อ 5 ก.ย. 2024
- This is The Real Deal. In this episode, I breakdown a manufactured home that we got sent TWICE from wholesalers and ended up buying the second time on an INTEREST FREE LOAN seller financed! Tune in and hear how we acquired this deal with no money out of pocket, what we paid the wholesaler, and how we will CASH FLOW $400 per month! Drop your questions in the comments!!
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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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 ❎
Pace, you Are by far the BEST teacher in real estate that I listen to! I watched a ton on bigger pockets, and other websites. I first learned about you from bigger pockets last week. Since then I’m addicted to your content! Thanks bro👍
Wow! Thank you. Glad you're gaining massive value and enjoying the content. Feel free to subscribe and hit that notification bell so you don't miss out my latest uploads.
I have to agree with you! You can just see how authentic he is!
LENDERS
Also, could you do another video to show us what it looks like when you finish the project and just before you rent it out?
I can do that Bruce! Thank you for your suggestion and for commenting!
I'm cold calling 50 people tomorrow. This got me pumped! Thanks Pace!
You got this!
Was the assignment fee an extra 10-15k on top of the $75k or did the $75k include assignment fee?? 😬😬 I’ve watched this like four times. I’m living creative finance!
this is what I would like to know was this apart of the down payment?
It's normally in the entry fee (price to seller, price to wholesaler and price to agent )
Included
I could not find another word besides.. Mastermind..🚶🏿🚶🏿🚶🏿
Love it
Amazing to hear you lay it all out. You are a great teacher Pace.. I enjoy your teaching style 😊
I appreciate that!
You say, if you don't want 1000, don't buy 1. Things the GOAT says!!!! ! I want 10 now!!!!
haha! Dope!
Heard you on bigger pockets and can’t wait to watch more of your videos. I’ve already learned so much! Thanks!!
Glad you enjoyed my bigger pockets episode. Feel free to check out my TH-cam content to learn more!
LENDERS!
Pace “Real Deal Holyfield” Morby 😤
Hahah
i don’t know if is me but i understand every single thing of what Peace is talking about!
LENDERS!! Go shopping!! Need to learn it!!
100% ! Thanks for commenting! 🔥
PACE...Guess we all SEEK those type of Lenders!!
Yup! 👍
This is great! Gets me motivated to start cold calling. Anything is possible with creative finance! Lenders videos please! Thanks Pace for this video! ✌
Absolutely!!
Pace killer video, I love it! What do you think about talking more about the private lending side!! Thanks man.
I do have a lot of videos on lenders on my TH-cam channel feel free to check it out bro! Here's one of them
th-cam.com/video/TDuvf5rkEKI/w-d-xo.html
You are ahead of your time - more success your way - Thank you
Aw man this is so awesome!! I would ideally like to do my first flip this way, correct me if I’m wrong, I know how to structure the deal and I know that at the end of the repairs you could do the BRRR method and pocket more as well right?
Thanks Pace! This is the exact video I was looking for!
Glad you were able to find the video you're looking for! Hope you gained massive value out of this!
7:20 I started to laugh so hard, that's so badass! Wholesaler know what I'm talking about
Lenders in PA
Thanks for the reply
LENDERS!!
YES YES LENDERS!!!
Yes. . . Lenders! I'm consistently blown away Pace. Thanks dude!
Thanks! Got it
LENDERS
SWEET!
Lenders!!!
Thanks for being a part of this bro.
0 $ out of pocket is the ish!
For real!!
Bring on the creative finance videos! Thanks in advance Pace!
Committed to the mission!
Lenders!
💯💯💯
Pace holy crap thank you so much 👏🏾 I can’t wait for the Elephant challenge and to join the Subto fam
Broooo! I'm doing the challenge today. Sign up before it's too late! bit.ly/3RHjvvr
"LENDERS"
Love it
Rite on pace...
Dope! thanks!
Good stuff! I never thought mobile/manufactured homes like this could be a good deal. I'm interested in more about where you find the private lenders. TIA Keep up the great work.
Pace know damn well we wanna know about lenders 😏
Super Information
Pace is such a BOSS 🔥💪🏾 This is real game right here!! I'm talking to Clemente on Friday so I can link up with the Sub ✌🏾 gang gang
Love it!!
@@PaceMorby How did you find Allison?
I'd love to know how you pay off your private lender if you're making interest only payments to her.
I actually did a podcast on that! Go check it out!
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
Hope this helps! Be sure to subscribe and hit that notification bell to get the most of my uploads!
Lenders
Idk how I found you pace, but you’re definitely the shit! Haha
So I have a question for you, I want to know if it makes any sort of sense to you.
So say you own a property outright, and you want to sell it on seller financing. You make money off the interest, but what happens when the person buying it refinances through a bank? Now you lose the interest and you’re still stuck with paying capital gains right?
Now what about this. What if you own it under an anonymous owner LLC, and you seller finance it to yourself in another LLC and rent it out or air bnb… this way, you control the property and get the interest for the entire term of the loan on one end, and on the other end, the other LLC gets to write off the depreciation and the Interest being paid by the tenant.
I have never seen anyone talk about this, ever, and you being an expert with creative financing, I figured you’d be the guy to ask. Obviously I could ask an attourney as well, but it was just a thought of a way to capitalize on the benefits of real estate tax write offs, keeping the appreciation, while also being the bank and sucking up the interest. What cha think??
The answer to this would be entirely too long for a TH-cam comment. But post this in our free Facebook community and I'll do my best to get to it! shor.by/Si74
(7:28) BIG MONEY LENDERS!
Lenders! I'd love to see more videos on how to OPM (Other People's Money)!
Melissa. Here's a Get Creative podcast episode that I did last year using creative finance and OPM: th-cam.com/video/uaT5LDCHdVE/w-d-xo.html Also, thanks for being a subscriber!
This was an incredible video! Very well explained and easy to understand. Thank you Pace! Btw LENDERS!
Glad it was helpful!!!
Pace you're the man!
Thank you bro!!
How to find lenders education please. Thanks Pace !
Lenders Lenders Lenders!!!! 🔥🔥🔥✌🏽
Lenders!
Pace can you do another video on lenders?
I have a lot of videos about lenders here on TH-cam. Here's one where I discuss how I work with them: th-cam.com/video/VwGEG-KmsUQ/w-d-xo.html
Yes, lender videos please. Seems a chicken and the egg problem. If you haven't done deals, how do you attract lenders, but how do you do creative deals if you don't have a private lender?
I am confused on how he pays his private lender back, he said 315 a month but thats only for the interest
Here are the 3 episodes of Sunday Service where in we discussed the topic of Raising Private Money For Real Estate Investing.
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
Hope this helps answer your question.
I'd like to hear about how you get your leads. Thanks!
Hey bro! Thank you for tuning in! I do have tons of videos on my channel you could check out on how I get my leads feel free to check them out! Feel free to subscribe and hit that notification bell so you don't miss out on future content!
@@PaceMorby I’ve been looking at your videos for the last couple days, trying to get a better idea of where you’re at or how you work! what’s the best way to get a hold of you or ask a question? Thanks!
Please teach me how to find private lenders
WOW AWOSME AWSOME. AMAZING!!
The MH must be on land and not a park if your claiming that you will be receiving appreciation? Advise
Here's a video I did about mobile homes - th-cam.com/video/lXC4mrOM0lM/w-d-xo.html
I would love to hear how you raise private capital. I watch your videos and im like well yea you can close deals when YOU buy them but I dont have that cash so... yes lender videos PLEASE
Michael. I have a 4-hour long video all about raising private capital. Check it out bro! th-cam.com/video/-X-Zk-zHkWI/w-d-xo.html
Hello, I have a question, when will the private lender have his full money? When do you refinance?
Lenders for someone’s that has never done a flip
Awesome
Would love a breakdown of this with a multi - family deal
Your suggestion on a title co, in Indianapolis, or Indiana
Why don't you join my Creative Financing Facebook group and network with thousands of investors there or even with other subto students for recommendation.
facebook.com/groups/creativefinancewithpacemorby
Wow. Amazing.
Thank you!
Awesome stuff. What type of documents/contracts do you use to get the seller financing deal done? Traditional purchase agreement with a mortgage deed? Also when Blake is assigning, is he only assigning the purchase agreement while the mortgage deed would be between Pace and Seller?
Hey bro! Check out the video I did on Contracts 101!
th-cam.com/video/qFV7rA1Koxg/w-d-xo.html
Our team also uses Constant Close for any contracts and paperwork you may need! It's awesome go check it out as well!
www.constantclose.com/
@@PaceMorby *
A video on raising private Capitol would be GREAT!
Awesome, thanks!
Lenders, Lenders, Lenders Please
is it illegal to wholesale seller finance without licensing ? At least here in Florida this is what ive heard
Awesome video. Love the breakdowns. How do you find your private lenders?
Hey man! One of my students asked the exact same question and I answered it on this video: th-cam.com/video/SQir7ESpCSw/w-d-xo.html By the way, thanks for being a subscriber!
What about missouri!???
Hey man! Hit up the Facebook group! I'm sure there are a TON of people doing deals in Missouri. shor.by/Si74 Make a post!
Pace but when or how do you pay off the private lender? I undestand private lenders lend for a short period of time.
Hey Samuel! It entirely depends on the terms of the lender. Here's a video explaining how we work with private money lenders. th-cam.com/video/VwGEG-KmsUQ/w-d-xo.html
This the stuff im tryimg to learn is the number what to put together to make it a deal, how can i put together what is called a good deal with subto.from the taxes and insurance on the house also how do i know what is a good structural deal to put together when you come up on a house that can do terms. If i can get all the number down and know how to put it together IM GOING TO BE A BEAST AT THIS😁😎
Hey bro. Have you joined my free Facebook group? I have so many students who would love to help you understand all of this. shor.by/Si74
@@PaceMorby hey i joined yoyr facebook group and its awesome
@@ej2609 love it. Network in there and find some of my students in your area. It’s a huge resource, take advantage of it.
Lenders...
I need to know how you find these private lenders
Hey bro! Here are the 3 episodes of Sunday Service where in we discussed the topic of Raising Private Money For Real Estate Investing.
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
Hope this would provide value to you, bro!
How do you pay back a lum some on a buy and hold rental. You have the First to the Seller at 95% LTV A 2nd ON A WOBBLY BOX” for $38,000 . It seems like the property is overlevridged ? Would that same lender make that kind of loan in second position to me?
Good one , why don't you get in touch with my students so they can break this down for you. Join my Facebook group Creative Financing with Pace Morby and post within the community or network with my students on your area bro.
facebook.com/groups/creativefinancewithpacemorby
Hi wondering if you are purchasing in Michigan City Indiana? Seller Financing?
Lender
Awesome!
Hi Pace I would love to learn more about the way you get Private Lenders and how can I contact you on Wholesale deals I get in MS, AL, and Fla. Thanks William.
Lenders where to find them
Where do you learn things like not being able to bank finance 1973 or older? These lesser known details seem like a big advantage when doing business in RE.
Doing the business and learning from experience. Asking questions to those doing business. Great question bro.
Do you sub-to the properties which needs full rehab?
How can chat with you by phone, I have a question regarding selling a house
How do you find lenders?
What contracts do we use for this type of deals
Genius
Lenderss for sure ... how you pay them back and how muxh time will that take you???
Great question! Thank you
How did you ever get title charges for only $1500? It is usually 3% for 1 side for closing costs in Illinois, and no that doesn't include commissions. Title insurance alone is $1500 on the seller side.
I'm loving all the questions that you raised here brother. Thank you so much for those. Which market are you from? Join the Creative Financing Facebook group and drop your market there. Connect with other subto students on your area to help and guide with your questions. They will be more than happy to connect with you and assist you.
@@PaceMorby thank you im from Chicago
Pace does Title Alliance have locations in DMV? Thanks
Title Alliance sole's location is in Phoenix. Squad up with my students in DMV! I sent you the link earlier to the free Facebook group.
@@PaceMorbyReceived! Eduardo Conde/ subto student and myself formed partnership. You provided tools, make it happen. Thanks
So bank will finance a Manufactured house?
So 75k - but $400/month for 20 years is 96k. I’m confused on how exactly the wholesaler structured the deal
Most likely paying 3% interest.
Its structured a little differently than what the wholesaler sent.
Pace where and when do you guys do your run 3 times per week ?
Where do find the lenders
Hey Stormey! I did a video last year with my student where we go in depth about how to find private lenders. th-cam.com/video/SQir7ESpCSw/w-d-xo.html
Great video Pace! How did you convince the seller for a 0% seller finance deal?
Yes, this would be amazing to learn.
Great question to answer in a video!! Thanks!
@@PaceMorby That would be amazing.. Thanks Pace
I watch Jerry Norton video about creative finance structure video. He explained how to get it 0%. That is if you convince them that the equity of the house will bring more value in profit and a shorter balloon but high interest.
Would love to know what the pay back plan was for the $39,000 to the private money lender.
Lenders 🙏🏾
haha!
I know you bought your personal house this way but it was from Jerry Norton who understands this kind of transaction. How can I get a house to live in this way? Just keep asking I guess? Every house I make an offer on the seller usually says I have 2 more shows this evening and they usually go under contract.
In this environment can you get seller financing without the property being a fixer? Thank you,
ps..btw...I know you may have been too busy to respond to the questions I asked last week on putting a cash-flowing property in a foundation. That was just great I think when you learned that 1 it had to surprise you. Not sure why all cash-flowing properties aren't in a foundation. Thank you,
Check this video wherein we talked about how I bought my house before.
th-cam.com/video/NDOtq0tteIY/w-d-xo.html
@@PaceMorby thank you
Lenderzz
Lets goooo
When does the lender get paid back?
Here are the 3 episodes of Sunday Service where in we discussed the topic of Raising Private Money For Real Estate Investing.
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
Hope these videos help answer your questions!
What about the cost of the lot?
The lot is included in the home purchase.
Does Allyson lend money in Texas
Tommy, she might be.
This was 3 years ago. Will you still take seller financing deal and pay the assignment fee?
Yes
Any amazing lenders in South Florida?
Hey Melody. Join the Facebook group with over 43,000 investors. shor.by/Si74 Make a post!
How do you pay down the lender $400 a month if you're paying $316 interest only? I think I'm missing something.
Your student was asking for a $15,000 assignment fee.
Really appreciate you for engaging with my videos. You're awesome!
Thanks so much for sharing this real case study it was very powerful and helpful. What did Blake say to the seller before he assigned it to you. I would like to see more videos on how to find those deals and how to find Lenders.
I did a 3 part series on raising private money on my podcast Sunday Service. th-cam.com/video/TDuvf5rkEKI/w-d-xo.html This is part 1. Make sure you're tuning in on Sundays.
th-cam.com/video/ndqFSny9QLg/w-d-xo.html This is a video on how to find creative deals.
@@PaceMorby Ok. Thanks so much. I will watch those videos soon. Are there specific terms or areas you look for in TX?
LEEEEEEEEENDERS! I didn't catch how you pay off the hard money lender?
Good question Cory. I think I'll make this into a video on The Daily DMs. Thanks for the comment!
Lenders! ;)
Sweeeet
If they asked to see your income and credit would you have done the deal?
Be the person that does and gets the deal.
🐐
Abdul thank you! I appreciate that 🔥 Thank you for commenting!