SUB TO Mentorship Program With Pace Morby Review
Investor · Waco TX / Conroe, TX · Member since 2017 · 376 posts · 228 votes
SUB TO Mentorship Program With Pace Morby Review
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Specialist · OverTheRainbow · Member since 2020 · 607 posts · 909 votes
6yOriginally posted by @Chelsea Cummings:
@Pierre A. I had a consultation call for the mentorship program yesterday evening. It seems to good to be true. How long have you been in the program, and, if you don't mind me asking, what results have you had from it?
Do you feel like you are getting everything they said you would? I am really wanting to pull the trigger on it, but I am nervous!
I've done Sub To, Wraps and Lease Options for 30 years: here are some pointers to look for in any program teaching those techniques
1. If they say you need "No" money, Run and don't look back. You have to use money to give the seller "moving money", money to bring the loan current if they are behind, money for title reports, money for escrow, money for advertising, money for making the payments after you take ownership, money for repairs if needed, money for cleaning the property, money in reserve in case everything falls apart (just to mention the big ones, there are also Insurance, water, electricity, power, property taxes and so on). If you use VAs (virtual assistants) that costs money. You can't borrow money from a bank for the purposes of taking a property Subject To.
2. Depending on the market I can spend $5,000 in advertising to get a deal. Or, it can be $500 sometimes. The better neighborhoods and better markets take more money. The less expensive markets are more trouble afterwards.
3. I cash flow at least $500 a month or I won't take the deal. Houses have ongoing expenses. (roofs, water heaters, plumbing, electrical, updates, etc)
4. Yes, there is a Due on Sale clause and yes, there are at least 7 ways to deal with that effectively.
5. If you don't work at it, you won't buy a property. You have to make offers to buy a property. That means being on the phone, a lot. If you don't like people and you don't like being on the phone, do something else.
6. Record the Warranty Deed. Don't use a Quit Claim deed.
7. You are not doing anything wrong or questionable (if you do as I do) so you are proud to record your Deed and don't try to hide things in a "Trust".
8. Use disclosures with both the seller and the buyer (if you do as I do and sell to tenant buyers) and disclose everything, such as that the loan will not be paid off, that they understand they are selling the house, etc.)
9. Be fair. Make it a "win/win" for both the seller and you. If your goal is to retire on one house, "ferget about it. Ain't gonna happen". 10 houses cash flowing at $500 a month is $5000 a month income. That's a start. If you aren't committed to doing at least 10 houses, that is unfortunate for you.
10. When you talk to sellers, use "solution selling". You are there to solve a problem. Ask questions about why they are selling, are they moving locally or staying in town, etc. Try to solve their problem for them by taking over their debt, taking over their payments, give them some cash to move, and allow them time to move in a reasonable time frame.
11. Enter into joint ventures "very cautiously". People have "very different" opinions on how things should be run. You can waste a lot of time sorting issues out. If the mentor says they provide the funding, give them a scenario and ask them to walk you through point by point on who has ownership, how much are they putting in, how much are you putting in, what happens if the deal "goes south", etc. Ask them " say I found a property and the owner needs to move fast, he needs $5000 to move, the ARV is $260,000 the mortgage is $202,00, their payment is $1507 a month and they are 5 months behind." How would you handle that? How much money would I need to do the deal? How much would you put into the deal? What is the exit strategy? How much would we make on the deal? Who would have ownership?"
If they won't take time to go through the scenario to tell you how things work, they are the wrong mentor, obviously. Most "mentors" have only done 2 or maybe 3 Subject To deals so they probably can't answer with any specificity.
You want a mentor that can be presented with any number of scenarios and outline the solution and show the results, on his feet without needing "time to think about it". "I'd have to think about that one" is an excuse for not knowing things he already should know..
12. Pay every payment on time or you are in big trouble. You can be sued by the seller for ruining their credit (no matter what some "guru" may tell you). You can be visited by the Atty General if you are cheating "vulnerable" sellers (foreclosures, handicapped, veterans, elderly and anyone else the Atty General deems vulnerable)
13. Treat it like a business. Track your hours, keep records of who got paid what. Keep records when collecting rents, etc.
14. Learn the local landlord tenant laws.
15. Most mentors are good for getting people energized - Good mentors work with you step by step to get a house or two and teach you how to move along on your own - Great mentors teach how to buy and manage the properties, set up "systems & methods", along with providing other high level contacts, tax planning, asset protection & generational wealth, strategies for changing markets, and changes in the law.
I don't know the individual you mentioned for possibly mentoring you, but these are some basics to find out from them before you put your hard earned money into a mentor.
87 Replies
- New to Real Estate · Amsterdam, The Netherlands · Member since 2019 · 8 posts · 2 votes5y
Hello Blaine,
I'm in the mentorship right now. More than great mentorship!! Always over delivers and a lot information you can go back to. You can do it in your own pace. So you don't only have all the information about the different ways you can do real estate, but you also have a whole network available for help or to do deals with. This mentorship is a total package from A to Z and MORE
If you have any questions, don't hesitate to contact me. - Columbus, OH · Member since 2017 · 25 posts · 20 votes5y
There is so much content in Pace's program. Not only that it is a family. I feel that I joined a national group of investors that I work with on any deal I have in the US. In fact,I now feel comfortable to market for deals in any place in the country. Everyone in the group works together and helps each other out. Pace does zoom after zoom of training. He helps people out personally too. It is a lifetime program, no additional costs after the initial costs.
- Member since 2020 · 11 posts · 4 votes5y
Hello BP,
If you guys are questioning this mentorship, let me tell you: I have received value that goes above and beyond the monetary value needed. The way it is structured and the content included has helped me develop every aspect of my real estate business. It is not just a Subject-to mentorship. It is a complete REI mentorship filled with hundreds of high level individuals to help out. He provides bonus Zooms all week long to help out on specific real estate topics. Pace is the biggest GO-GIVER in the game.
- Dallas, TX · Member since 2017 · 11 posts · 2 votes5y
The SubTo mentorship is by far the best mentorship on earth! Not only does Pace go 100x than what he promises but every single person in the SubTo fam is a Go-Giver! You truly gain a family. Cant say enough about this.
- Flipper/Rehabber · San Lorenzo, CA · Member since 2019 · 1 post · 0 votes5y
Im currently in the mentorship, and you really get more than what you pay for. over delivery forsure
I am in the mentorship, I joined a month ago and I must say this is the best mentorship I have been apart of. Pace OVERDELIVERS. He gives so much to his students to set us up for success! Honestly before joining I was concerned about the money then I thought is it worth it and I took the leap and I can tell you its well worth it in my opinion the mentorship should be more and this is coming from an individual where frugal is my middle name. Negotiate worth not the price.
- 5yJay HinrichsBusiness MemberReal Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
Originally posted by @Duy Nguyen:
I love this mentorship! The REAL value you get from this mentorship is THE COMMUNITY you will get. I have done severals sub 2 and owner financing deals after joining this mentorship and gained a bunch of friends along the way! Amazing program!
So if I understand this right he is teaching you to:
1. buy sub too
2. then resell owner finance.
is the resell owner finance done on a wrap? or how exactly is he suggesting you resell your sub too.. ? And if the bank calls the underlying loan who is going to pay it off or refinance it ? you cant your not in title if you sold it.. just curious how you handle these things.
- Member since 2021 · 1 post · 0 votes5y
I've been in Pace's mentorship and would absolutely recommend it above any other. The man delivers above and beyond at every moment.
- New to Real Estate · Pittsburgh, PA · Member since 2019 · 1 post · 0 votes5y
I am a current member of the Subto Mentorship! It is worth every penny. I had spent money on a different mentorship program and was left unsatisfied and not knowing where to start. The social group and resources alone are worth every penny, but Pace continues to overdeliver all the time.
I would highly recommend the program.
- Member since 2021 · 1 post · 0 votes5y
I'm currently in it, and have been in from the first day. Pace OVER delivers on the value he provides to his students (resources, JVs, opportunities, deal structure, wealth building, entity structure, etc.) The list goes on! I’ve done deals as a result! And I used to be all by myself but the network of people within the mentorship is a family of its own. Can’t thank Pace enough for everything he’s done (directly & indirectly) for everyone in the mentorship!
- Member since 2019 · 1 post · 0 votes5y
Pace's mentorship is worth every penny and more. It's not just a creative finance mentorship, it's an all-in-one real estate investing mentorship. Pace gives so much to his community (so much more than even his free content), and the community itself is where a ton of the value is. If you choose to join, you won't be disappointed. If you work with one of his students, there's so much power in that, too.
- Salem, OR · Member since 2019 · 33 posts · 23 votes5y
I joined the mentorship in December 2020 after following Pace's free content for a long time. You can (and should) learn a whole lot from the free content alone, but being inside the mentorship is a whole other level. The knowledge and resources you need to succeed are all collected for you in a single place, but more importantly you become part of a nationwide network of professional investors. Everything you need to move your business forward is found inside the Subto family.
- Member since 2017 · 28 posts · 5 votes5y
Holy Crap! I just joined Sub 2 tonight and I can already tell you how incredible it is. Looking through the materials included, I can tell that it is a complete program packed with info. The Facebook group has tons of value too. Lifetime of value, literally.
- Member since 2019 · 1 post · 0 votes5y
The Pace Method is THE ONLY program to be in. The value is more than any of us could have anticipated. He gives and gives and gives. Its easily 10 courses in one. The only thing better than the 'course' itself is the community of people who are a part of it. Sub ✌ is 🔥🔥🔥🔥🔥
- Member since 2021 · 1 post · 0 votes5y
Pace Morby's Subto Mentorship Program, is hands down the best available real estate program out there. Pace goes above and beyond, always giving, a true go-giver (paid lists for students, he calls your sellers, and unbelievable new content every week). Its not just a program its a community. People in the community are doing deals together. I got my first deal in just 3 months. For the price of the mentorship it should cost $100,000. It's not just creative financing its all things real estate from A-Z. Best of all its life-time access!
Pace and his team are the best! They go above and beyond. From brand new beginners who just learned about real estate to people closing $MM a year, Pace gives them each his undivided attention. He takes multiple hours out of his day to answer questions, talk to sellers for students, and to teach and ensure each student is 100% confident and successful. Hands down the best Mentorship / Dude in the universe.
- Specialist · Houston, TX · Member since 2018 · 4 posts · 1 vote5y
Too much to say about what Pace is doing with his mentorship. It has exceeded any expectations I could have thought of! Pace is open about his business, and more importantly is available to help and provide resources. He is committed to not ending any access to him and his team, while also empowering the community of students to work together and help each other. Couldn’t ask for more!
- Member since 2020 · 3 posts · 1 vote5y
Dope mentorship. AMAZING Network. I have so many people to call for advice. For example, a guy with 30k+ monthly cashflow told me I can call him anytime to run a deal by him. Another guy helped me set up my marketing campaign. FREE.
Closed my first deal. The network is the gold here for me. So many people to call for advice.
NETWORK. NETWORK!
Happy to be apart of this network.
- Member since 2018 · 1 post · 2 votes5y
Pace is the real deal and worth the investment! So much value every single week. He goes above and beyond for sure!
- East Stroudsburg, PA · Member since 2016 · 1 post · 1 vote5y
Hey guys for anyone who is on the fence about joining Pace's program I'm here to tell you that the program is Everything you need to learn about real estate investing. I know the course is for "creative finance" but you learn so much more than that. Wholesaling,Fix and Flip, Buy and Hold, Whatever you need Pace is there to help you understand it. The amount of content that he puts out for his course is just unbelievable and the community is there to help each other grow. If there is any doubt in your mind about getting the most bang for your buck just know this course is all you need.
- Member since 2020 · 1 post · 0 votes5y
Pace mentorship was a game changer, life changing is more accurate. You learn everything and then some. Its not just a creative finance mentorship program. Pace over delivers - every. single. time. He is actually doing this business day in and day out. He teaches you how to structure your business, how to run it, how to wholesale, how to fix and flip, and how to acquire rental properties. THIS IS A LIFETIME MENTORSHIP. What other mentorship can say that? The one my husband and I were in prior to Pace's mentorship lasted 6 months. On top of everything else, I have met the most supportive and awesome local people that I now call my accountability group that squad up, work together to take down deals, and just lift each other up weekly. This, hands down, is the best mentorship on the planet.
- Member since 2020 · 3 posts · 1 vote5y
Dope mentorship. AMAZING Network. I have so many people to call for advice. For example, a guy with 30k+ monthly cashflow told me I can call him anytime to run a deal by him. Another guy helped me set up my marketing campaign. FREE.
Closed my first deal. The network is the gold here for me. So many people to call for advice.
NETWORK. NETWORK!
Happy to be apart of this network.
- Member since 2021 · 1 post · 0 votes5y
It's super comforting knowing that someone like Pace has my back when treading into unknown waters in my business. When you're learning, most of what you do is non charted territory. BIG CONFIDENCE boost!- Cole Richardson. Richmond, VA
- Houston, TX · Member since 2016 · 45 posts · 28 votes5y
Originally posted by @Jay Hinrichs:
Originally posted by @Duy Nguyen:
I love this mentorship! The REAL value you get from this mentorship is THE COMMUNITY you will get. I have done severals sub 2 and owner financing deals after joining this mentorship and gained a bunch of friends along the way! Amazing program!
So if I understand this right he is teaching you to:
1. buy sub too
2. then resell owner finance.
is the resell owner finance done on a wrap? or how exactly is he suggesting you resell your sub too.. ? And if the bank calls the underlying loan who is going to pay it off or refinance it ? you cant your not in title if you sold it.. just curious how you handle these things.
Yes to all of the above! I also learned wholesale, how to build a business, how to build relationship if other wholesaler, how to build relationship with other people for JV opportunity....
And Yes to the due on sale, unfortunately, I have a bank called on my deal. However, Pace helped me fixed it and I am now having a performing note of 650 per month with no money down. Buyer and seller are happy at the end of the day!
Just locked up a deal with 0% seller finance as well. Getting that closed next week !
