Great Coaching Call From Pace - so much practical information and i am glad i found Pace online - Thanks Pace for teaching - greetings from Toronto Canada
Huge question- how do you make the seller comfortable with carrying the debt on paper? That will dig into their DTI ratio when they go to purchase another property
I would say that being that your purchasing a home with a seller in distress is the key point. Once seller is in distress the property going into foreclosure is the issue. Getting the seller out of foreclosure is best part for them plus they can get some money out of a bad situation.
You handle that with the contract. When the seller looks to qualify for a new home they send your contract to the lender and they write that off the dti in underwriting. Simple.
Great video! I have some questions: Is there an option for the original owner to use creative ways to cash flow their property so they don’t have to sell? How would you explain your intention of the property to the owner in a way that makes them willing to lose potential future equity as opposed to holding the property and house hacking or something similar? If the original owner provides seller financing, do they report that as income or does the payment go directly to their bank to cover the mortgage? Furthermore, if the pain point is significant enough, does that give the new buyer leverage and not have to offer any interest to the owner in addition to what the mortgage payment is? Thanks
This was awesome! I heard Pace on bigger pockets yesterday for the first time and I already have a call with his team set up for tomorrow. Unreal how cool subto and seller finance and hybrid deals are. Thank you for this info!!
Thank you for being a giver Pace! I'm not a sub to student yet...I've always been afraid of subto because of my lack of knowledge in this area. I've watched tons of your videos, this video alone has answered so many of my action-stopping questions. Thank you and to the fan that made this video more than what you were already going to gift us with! Keep prospering fella!
Hey Pace, I have been an investor for 25 years and I love the way you explain things!!! . I am familiar with Straight Line depreciation. My CPA cant find anything on the 7 year depreciation. Can you give me the info from the IRS on where to find it?
I have to say this is probably the most informative and knowledge based video on youtube. I seen quite a few video like these including Pace's other video but this one.... this one is it! Thank you Pace
This video is such a great example of how your clones have beat you to the punch teaching the world and the next gen of real estate masters. Dude picked up some new pearls but had really solid fundamentals better than most agents ;)
@PaceMorby thanks for the video.....this gives me hope of being able to be an investor and desperately need to close a deal to join your program.........so since the seller name is only on 1 thing, who gets to wrote off all the benefits you mentioned? Your LLC, estate because I am certain you didn't buy in your personal name. Only 1 house can be homestead under your PN.
Pace! You are so amazing!! Me and my sister watch you and it is a dream of ours to make deals like this every day. Love the content and knowledge you bring, the way you break it down, respect. The community/network you're building is astounding and is helping so many people. Stay awesome!
My jaw is on the ground rt now 😮 I seriously need help picking it up. My situation is simply a lack of knowledge 💯. I bought a house 3 years ago and I have just been sitting here on all these wonderful things I can do with it 😮 my life is about to change!!! Thank you Pace🙏
how does carrying the mortgage affect the seller's credit (for buying another home)? Do they claim the payment you are making on the mortgage as income?
@@perezgardeningservice9677 i’ve never seen him answer this question. makes me completely question the sub to strategy. i really hope there’s a good answer to this question.
When the seller buys another home, there’s a letter/document generated to show the seller’s next transaction showing the subto agreement/contract. The other details and claiming as income I would figure (haven’t heard, but figuring) that not having a deed implies that the seller has no gains or rights to gain. Anyone who has actually experienced subto correctly can comment to correct or confirm. I hope this helps.
Hello @mikeharmon7299 How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a Subto student. Would love to help you if you need it.
I’m starting my LLC soon as I finish this job this weekend. That’s gonna give me the money to start everything! I can’t wait have been watching pace for about 6 months now I’ve been an electrician up to this point and had my own company an everything. I want a piece of the pie so next week I’m starting.
Thank you Pace the end where you explain the numbers and how to UTILIZE are my favorite parts! I get the concept no doubt but learning how to tr*mp is what i desire. May these videos Return 100 fold!
This video was phenomenal! The breakdown was next level pace! My wife said you’re the best teacher she has ever seen and I would agree. Sub✌🏻 here I come! Thanks again brother!
Glad it was helpful! Have you considered joining our Facebook group or this upcoming challenge? facebook.com/groups/creativefinancewithpacemorby www.pacejmorby.com/invite
Dude!!! Mr. Paxe, I love you bro!!!. I want to he part of this life style...I want 10 properties, as mentioned, but first let me learn buy getting more property for you
This is not a good segment , this is crazy unbelievably detailed session all live. NO Fluff !!!!!!!! Thank you Pace ! cnt wait ...
AA
Its good.
This is why Pace is the man! Handing out nuggets of knowledge.
bro these cut scenes you guys been using are cracking me up! give your editor a raise :D Great video btw
I have watched like 18 videos you have and this one is the best one so far. I would be a couple if grand for this!
This is the best video I have seen you do on this.
Met you on the road in Salt Lake this last weekend, and this continues to be the most valuable content in my feed! Pace, you the man!
I am so ready to partner up with someone from the Pace Team.... Good name Huh ?.... "The Pace Team" I wont even charge for that !
Also in salt lake!!
_"You do 10 of these, and you will retire the richest person in your family."_
That hit so hard!! It's time to start finding sub-to deals. LFG!!!
Join his community! 🎉
Solid Info! Thank you Pace!!!
Wow!!! Pace is a freaking genius!!!!
Deserves more than 2k likes tbh.
This is a phenomenal video, appreciate you taking this time to explain and showing us how you do it. You and your team are so great for so many people
Great Coaching Call From Pace - so much practical information and i am glad i found Pace online - Thanks Pace for teaching - greetings from Toronto Canada
Pace putting gems out. Can’t stop watching 😮
This is amazing man will be joining you soon
This is GOLD!
OMG this is such a great video!!! it is getting me so excited to subto!!!
first time watching this videos very helpful I'm struggling to get my own house. That's the best way. Thank you.
This is a *great* video. Thanks Pace and everyone involved!
This video is amazingly detailed and extremely helpful! Thanks Pace! I thank Jesus for your life!
Thank you! 🙏🏼
So excited watching your video, you break things down sooo well, yout the man!
Huge question- how do you make the seller comfortable with carrying the debt on paper? That will dig into their DTI ratio when they go to purchase another property
I would say that being that your purchasing a home with a seller in distress is the key point. Once seller is in distress the property going into foreclosure is the issue. Getting the seller out of foreclosure is best part for them plus they can get some money out of a bad situation.
There are ways to handle that.
You handle that with the contract. When the seller looks to qualify for a new home they send your contract to the lender and they write that off the dti in underwriting. Simple.
This is golden content here! 🔥🔥💯💯💯
Great video brO 👍🏼 💯
Appreciate it!
Digital Gold Pace!!!! Thank you! 🙌
Absolutely taking as much as possible in ! Loving The Wall Drawing Board !
This is incredible. I’m so glad to find you in this community you have 🎉created.!!!!!
Pace, you rock! This is one of the best videos that simply explains how and what you do about buying the house!
WOWWW! I SO NEEDED THIS training ! only 2 months in and this gave me a better grip on how it works !!!
❤ This video! I mostly appreciate the breakdown in the tax benefit! Thank you, Pace!
You are so welcome!
Good stuff!!!❤
Insane value in this one video!!! 🔥🔥
I FINALLY understand!!! Thank you!!
Great video!
I have some questions:
Is there an option for the original owner to use creative ways to cash flow their property so they don’t have to sell?
How would you explain your intention of the property to the owner in a way that makes them willing to lose potential future equity as opposed to holding the property and house hacking or something similar?
If the original owner provides seller financing, do they report that as income or does the payment go directly to their bank to cover the mortgage? Furthermore, if the pain point is significant enough, does that give the new buyer leverage and not have to offer any interest to the owner in addition to what the mortgage payment is?
Thanks
Learned more valuable information in one video than over the past two years reading books 👏
The amount of wealthy knowledge being shared here is AMAZING!!
These is awesome pace. Appreciate you man.
This is an amazing video. Everything is laid out in simple terms
Thank you! Glad you enjoyed the video
Pace, you're a flipping genius, bro 🤔 👏🏾
This was awesome! I heard Pace on bigger pockets yesterday for the first time and I already have a call with his team set up for tomorrow. Unreal how cool subto and seller finance and hybrid deals are. Thank you for this info!!
Where r u today? Three months later?
Nice, thanks Pace and community I learn a lot
Glad to hear it!
Wait so how do you get the bonus/accelerated depreciation? When you file your taxes they give it to you on a tax return?
Thank you for being a giver Pace! I'm not a sub to student yet...I've always been afraid of subto because of my lack of knowledge in this area. I've watched tons of your videos, this video alone has answered so many of my action-stopping questions. Thank you and to the fan that made this video more than what you were already going to gift us with! Keep prospering fella!
It’s time to get into the game! Nothing to be scared of!
Amazing!!!!!!!!!!!!! I love you man! These are so so great. You answer questions before people ask them.
Hey Pace, I have been an investor for 25 years and I love the way you explain things!!! . I am familiar with Straight Line depreciation. My CPA cant find anything on the 7 year depreciation. Can you give me the info from the IRS on where to find it?
Wow! Great explanation Pace. Thanks a lot!
Amazing segment. Thank you Pace!!
Brooo this is super great stuff thank younso much pace greatly appreciated man will get into action asap
I have to say this is probably the most informative and knowledge based video on youtube. I seen quite a few video like these including Pace's other video but this one.... this one is it!
Thank you Pace
This is ABSOLUTELY the best and most thorough video on the platform. Big fan!
I'm going to have to watch this again and take notes. Such a great video.
I just found you last night. I used to listen to Kang but this sounds so much better and sustainable/scalable.
AMAZINGLY BROKEN DOWN, I AM ON IT.
The deal he did is brilliant
Pace! Dude! This is exactly what I needed to finally make this a priority. Thank you and your team so much for making this for us.
Amazing, really looking forward to this so much valuble information!!! Thank you Pace!!!
Thank you for sharing! Loved the breakdown.
Thank you Pace! Continue to be blessed!
Thank you Pace! This is an AMZING VIDEO!!!!! Much Appreciation!
This video is such a great example of how your clones have beat you to the punch teaching the world and the next gen of real estate masters. Dude picked up some new pearls but had really solid fundamentals better than most agents ;)
Thanks for explaining it step by step!
Best explained video I've seen you do. The young man had great questions. Makes me believe I can do this.
This is a FIRE video
@PaceMorby thanks for the video.....this gives me hope of being able to be an investor and desperately need to close a deal to join your program.........so since the seller name is only on 1 thing, who gets to wrote off all the benefits you mentioned? Your LLC, estate because I am certain you didn't buy in your personal name. Only 1 house can be homestead under your PN.
@@PaceMorbyhow do u receive the depreciation benefits? In cash or credit towards what?
That’s awesome you brought the QT guys over. Well done Pace
GOLD!
12:18 exit 1. Rent, 2. Airbnb, 3. Midterm Rental -> als solutions 4. Pad split 15% -> rent by room.
I love your videos, you keep it real with real people.. never heard of you till today but you got a new follower for sure!
Thanks for this great info. I wish I lived closer to your hometown. I need guidance this even for the first purchase
Squad up and learn with our members on our free group in Facebook: paceapproves.com/communityytc
Pace! You are so amazing!! Me and my sister watch you and it is a dream of ours to make deals like this every day. Love the content and knowledge you bring, the way you break it down, respect. The community/network you're building is astounding and is helping so many people. Stay awesome!
Amazing lessons and valuable coaching Pace breaking down all the options on the wall was great!!!
Excellent video!! Thank you 🙏🏻
My jaw is on the ground rt now 😮 I seriously need help picking it up. My situation is simply a lack of knowledge 💯. I bought a house 3 years ago and I have just been sitting here on all these wonderful things I can do with it 😮 my life is about to change!!! Thank you Pace🙏
Love the breakdown Pace! How is Padsplit doing as a management company? Seems like 9 tenants in 1 property could get wild
Pace is the G.O.A.T
Every time I wanna give up he comes through with what I need. ❤🎉🎉
how does carrying the mortgage affect the seller's credit (for buying another home)? Do they claim the payment you are making on the mortgage as income?
That’s a crazy good question
And who would give up the rights/deed to the property but still have the mortgage/debt under their name?
@@perezgardeningservice9677 i’ve never seen him answer this question. makes me completely question the sub to strategy. i really hope there’s a good answer to this question.
When the seller buys another home, there’s a letter/document generated to show the seller’s next transaction showing the subto agreement/contract.
The other details and claiming as income I would figure (haven’t heard, but figuring) that not having a deed implies that the seller has no gains or rights to gain.
Anyone who has actually experienced subto correctly can comment to correct or confirm.
I hope this helps.
I got my llc approval today I am going for my first subto tomorrow
Awesome! Subto student here! Let me know how I can help!
Hello @mikeharmon7299 How have things been since your last post? Let me know if you need any guidance through the paperwork. I'm a Top Tier TC and also a Subto student. Would love to help you if you need it.
Thanks Pace and Crew
One of the best explanation on RE crazy good
Great video, I do have a question... what if the seller claims bankruptcy while you are making the monthly mortgage payment?
Wow! Another great video with amazingly valuable content! Thank you for doing these videos, they really help a lot. You're awesome Pace!
Great video Pace
Pace Morby, you are a freaking Rockstar! This video is insane. Thanks dude for sharing your wealth of knowledge with the world. God bless you
I’m starting my LLC soon as I finish this job this weekend. That’s gonna give me the money to start everything! I can’t wait have been watching pace for about 6 months now I’ve been an electrician up to this point and had my own company an everything. I want a piece of the pie so next week I’m starting.
First video I've ever seen from you. Amazing demonstration and ability to explain. Thank you!
Thank you Pace the end where you explain the numbers and how to UTILIZE are my favorite parts! I get the concept no doubt but learning how to tr*mp is what i desire. May these videos Return 100 fold!
Hey Pace! I finally scheduled!
Love this! Keep up the great work man 🤙🏾
Great information! Thanks!
This video was phenomenal! The breakdown was next level pace! My wife said you’re the best teacher she has ever seen and I would agree. Sub✌🏻 here I come! Thanks again brother!
WOW thank YOU! Glad you enjoyed the video
Goldmine of 💎. My mind is blown. Thank You
Thanks for being here! Glad you enjoyed.
Gained a lot of information thank you Pace!!
Glad it was helpful! Have you considered joining our Facebook group or this upcoming challenge? facebook.com/groups/creativefinancewithpacemorby www.pacejmorby.com/invite
This is the only video that has answered all of my questions. So thankful i found you pace!!! Thank you God bkess you and your family!🙏
My question is if you want to sell this house how it’s gonna work? if the mortgage is on the name of the owner before you.
Great video breaking this down!
Dude!!! Mr. Paxe, I love you bro!!!. I want to he part of this life style...I want 10 properties, as mentioned, but first let me learn buy getting more property for you
This is a hell of a great video‼️ Thanks for sharing this
Love the content. Iv learned so much from your stuff. In the process now of getting my foundation's in place. Keep up the kick ass content man!
Pace I’m all ears bro and broke but learning from the best like you and Jerry Norton 🎉. I’m going to start this grind with expired home sales
Love this Benny! You got this🤝🏼
Sheesh. Way better than a college education - Thanks for the breakdown! Super excited to continue to learn from you.
im amazed right now!!
Truly grateful for you Pace!
Don't you have to remove the land value prior to calculating depreciation?