- BiggerPockets Community Manager
- Colorado Springs, CO
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Ask Me Anything! Pace Morby’s Takeover
Pace Morby, author of Wealth Without Cash, will be taking over one of BiggerPockets social media accounts to answer all of your creative finance questions, and discuss subject to and seller finance strategies!
Where do you want to see Pace do a Q&A next week?
⬇ Creative Finance Questions? Reply below ⬇
I been looking to invest in my first home but through a foreclosure auction. Is it a good idea to let the lender know you are borrowing money for a foreclosed auction to buy an investment property?
I guess it would be a great outlet to sell mentorship programs.
- Rental Property Investor
- East Wenatchee, WA
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If Pace would search his name in the Creative forum and answer some basic sub2 nuts and bolts questions his rah rah excitement for it has sparked, that would be awesome. I used to but got tired of it.
How long do you have to wait to refinance out of a loan, to use the same option on another property, for example an FHA loan.
How do you recommend to distribute your paycheck. What percentage should go into taxes, investments, personal use, savings, etc. Do you you even recommend living by these principles?
1. How many students has Pace put through his $7,800 program over the years?
2. How many of those students have actually done a creative finance deal?
The very first BiggerPockets episode I listened to had Pace on as a guest! It was his excitement over his subject to deals that made me fall in love with BiggerPockets. I am very excited to read more of his opinions!
I’m a pace student and the program is amazing! It’s actually a bit overwhelming as there is so much content. The quality and breadth is first rate. I paid for the executive membership and the cost $12,500. You get more one on one and a transaction coordinator to help you put your deal together (paperwork/logistics). In addition you get the community aspect and it’s a huge group. I would say money for value is outstanding. And I haven’t even done a creative deal yet but learning so much.
Pace, first, THANK YOU! You are wicked-smart and share so much with us. So, I have 2 questions:
1. Your students LOVE you and are your best advertisement! (Many of us who aren't students yet do, too!) I have learned the hard way that I should have had a mentor when I started out, but instead paid for training materials. I believe your mentorship is worthwhile, but don't know how I can fit it around existing commitments and work contracts. How does this work for your students? Do I have to rearrange my time or is it somewhat flexible?
2. I have a personal acquaintance that owns a house jointly with a partner, not spouse. They have had a painful split and she knows she probably has little equity and big headaches ahead. What steps are needed to do a creative finance deal? This is becoming a pretty common problem for which I would love to provide a win-win solution.
Thanks again!
Hello Pace/Noah's account, as you are aware, seller financers don't appear out of anywhere. With that being said, how do you best find people that are willing to finance themselves?
Quote from @Joe Geist:
I’m a pace student and the program is amazing! It’s actually a bit overwhelming as there is so much content. The quality and breadth is first rate. I paid for the executive membership and the cost $12,500. You get more one on one and a transaction coordinator to help you put your deal together (paperwork/logistics). In addition you get the community aspect and it’s a huge group. I would say money for value is outstanding. And I haven’t even done a creative deal yet but learning so much
Wow!
Who is this guy?
Quote from @Joe Geist:
I’m a pace student and the program is amazing! It’s actually a bit overwhelming as there is so much content. The quality and breadth is first rate. I paid for the executive membership and the cost $12,500. You get more one on one and a transaction coordinator to help you put your deal together (paperwork/logistics). In addition you get the community aspect and it’s a huge group. I would say money for value is outstanding. And I haven’t even done a creative deal yet but learning so much.
I'm a bit skeptical but would still give him the benefit of the doubt. Mainly because what I have been hearing from most people I've talked to who are in his program, the feedbacks are "Great things, great value, learning so much, great group of people... But I haven't done any deals yet..."
It would be a nice stats for him to track and publish on: How many people paid for his program vs. how many people actually used his method and earned back the tuition in X years (whatever X is reasonably expected).
How are you sourcing this "Sub to" deals?
@Noah Bacon
How do I find wholesalers in my area?
hey guys do you know who the transaction coordinator for pace is? i know he now has his own TC company but wonder if you know a person who did his transactions before thank you!
@Joe Geist Dang that’s a lot of money..i just purchased the creative financing bookcamp through bigger pockets he’s doing, hoping there is some good content in there
Quote from @Dominic Locicero:
@Noah Bacon
How do I find wholesalers in my area?
Google "real estate wholesalers near me"
Who does Pace use for a CPA? I heard he moved to one that can still take on clients but can't find their info.