Pace Morby Program
Investor · Tacoma, WA · Member since 2020 · 43 posts · 49 votes
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
@Justin Rush I agree with @Account Closed
My advice would be to take that money and invest it into a deal, you will learn a lot more and make a lot more money from doing deals then you will from any class/program/membership. If you need more education then read some books, they are much less expensive.
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
@Justin Rush and @Josh Young, as a year old Mastermind SubTo student myself, I agree with you. You want results and you have money and time to invest in a deal. Being hands on and walking through a deal will help you learn a lot and quickly. Pace Morby tells new students NOT to join until they’ve worked with a SubTo student, closed a couple deals and they’re ready to add more to their network, more to their tool belt of skills, and they’re ready to rise up as leaders. Pace’s free facebook group could be a great resource to look as it features challenges that allow new students to do exactly this- work with SubTo students to acquire their first couple deals. What Pace teaches on YouTube and in the free group is only about 1-3% of what is actually inside the SubTo program but it’s still very valuable. I personally can’t say enough good things about the SubTo community myself. It has been life changing to my husband and me- and we have previously invested large amounts in other mentorships, masterminds and courses where we hadn’t seen the results we’ve had in SubTo. But- I believe working with a SubTo student first is the best course and a route I wish we had taken. That is part of why my husband and I host monthly local meetups in Dallas now- is to help newer students get connected and get to work before they join. There may be some meetups local to you that you can join in on. I don’t know if that’s helpful but I hope so!
I’ve never been on Bigger Pockets to comment in the forums before but it seems that a couple comments are asking for proof, results, and a resume so to that end, I have bought and sold 120 doors, closing on a couple hundred multifamily units in the next 2 months, I’m now focused on investing in creatively acquiring businesses and commercial real estate. And no, I’m not being paid for this review. I’m just a person looking to add value to the forum. I believe in community and collaboration over competition and I understand the desire to see results first. Good luck on your journey! If I can help in any way, please reach out.
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
Click the left and right arrows.
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
Click the left and right arrows.
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.
The problem with subto (which I'm not opposed to as a strategy in certain circumstances by the way): is it's not actually a low capital strategy like the gurus teach. Most of these properties are distressed or have serious problems keeping them from being sold for maximum price on the market (or else why would the seller go the subto route?). Your example is great until that $2,200 a month stops coming in, and the deferred maintenance and cap ex issues become a problem, keeping it from being rented. An experienced investor who is well-capitalized can deal with the issue and continue making payments, without harming the seller or their credit. Some rookie investor who got into subto last week because they paid for a program and joined an awesome community, with limited capital and no experience dealing with the many various issues that properties can have... will they keep making the payments for a year and dumping capital into the problem until it get's resolved, while the property is losing equity as the market shifts? Nah, they won't, and there's the risk in the strategy as it seems like it's being taught by certain gurus.
You might be legit yourself, at least you have more than one post on here, but it sure looks like somebody is spending a lot of money on virtual assistants creating new BP accounts tonight...
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
How's this for a chirp. I'd like to set up a zoom call and here about your experience and ask about some of the deals you've done. I can promise 1) I won't debate you on the validity of Pace's mentorship 2) I will ask many in depth questions and ask if you do JVs.
I have do something similar with Pace's students through both BP and his FB page. The BPer and BP bailed, the FB person tried to sell me on the gator lending method even though I mentioned that I am only interested in being an end buyers for Sub To deal.
Ball is in your court Miron, you gonna talk as confident as you sound behind a keyboard or scurry away.
Jiminy
Yeah don't spend $11,000.00 for this. There are better programs out there for a fraction. You would be better off just leaving the cash in a bank bag wth some spray paint on it so the finder thinks a bank robber has dropped his loot than giving it to that guy or his incels!
I'd love to take part in a zoom that isn't a sales call as well.
My impression is that Pace is buying properties that won't make any income in order to write off the loss to offset the massive amount of income he's making on his MLM company.
Kind of like CLAYTON MORRIS OR HUGHES CAPITAL!
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
How's this for a chirp. I'd like to set up a zoom call and here about your experience and ask about some of the deals you've done. I can promise 1) I won't debate you on the validity of Pace's mentorship 2) I will ask many in depth questions and ask if you do JVs.
I have do something similar with Pace's students through both BP and his FB page. The BPer and BP bailed, the FB person tried to sell me on the gator lending method even though I mentioned that I am only interested in being an end buyers for Sub To deal.
Ball is in your court Miron, you gonna talk as confident as you sound behind a keyboard or scurry away.
Jiminy
Absolutely - send me a dm if my email doesn't come through
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.
Like This:
PACE MORBY GATOR METHOD COURSE REVIEW
https://www.biggerpockets.com/...
Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.
For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw
30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner
And
40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance
Crickets are loud over here
How's this for a chirp. I'd like to set up a zoom call and here about your experience and ask about some of the deals you've done. I can promise 1) I won't debate you on the validity of Pace's mentorship 2) I will ask many in depth questions and ask if you do JVs.
I have do something similar with Pace's students through both BP and his FB page. The BPer and BP bailed, the FB person tried to sell me on the gator lending method even though I mentioned that I am only interested in being an end buyers for Sub To deal.
Ball is in your court Miron, you gonna talk as confident as you sound behind a keyboard or scurry away.
Jiminy
What I find interesting is all of these people posting to NOT do it, but they have zero experience with the Mentorship,
Read your forum rules . that's considered Spam.
Has anyone posted not to? People are allowed to be skeptical. I think the hundreds of 1 posters that flood every Pace related topic is more closely aligned with the definition of spam.
Has anyone posted not to? People are allowed to be skeptical. I think the hundreds of 1 posters that flood every Pace related topic is more closely aligned with the definition of spam.
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.
The problem with subto (which I'm not opposed to as a strategy in certain circumstances by the way): is it's not actually a low capital strategy like the gurus teach. Most of these properties are distressed or have serious problems keeping them from being sold for maximum price on the market (or else why would the seller go the subto route?). Your example is great until that $2,200 a month stops coming in, and the deferred maintenance and cap ex issues become a problem, keeping it from being rented. An experienced investor who is well-capitalized can deal with the issue and continue making payments, without harming the seller or their credit. Some rookie investor who got into subto last week because they paid for a program and joined an awesome community, with limited capital and no experience dealing with the many various issues that properties can have... will they keep making the payments for a year and dumping capital into the problem until it get's resolved, while the property is losing equity as the market shifts? Nah, they won't, and there's the risk in the strategy as it seems like it's being taught by certain gurus.
You might be legit yourself, at least you have more than one post on here, but it sure looks like somebody is spending a lot of money on virtual assistants creating new BP accounts tonight...
This part of your post screams inexperience.
We own four subtos - with no problems what so ever. zero repairs.
The ones we have for assignment, 90% of the deals we get are newer built and need nothing.
Your idea of what subto is based off of what you think it is. Again no real backing.
BUT IN GENERAL, if you buy a house that is older , or doing a bad job on vetting your tenants yes absolutely things will happen to your houses. But PLENTY of people here in these forums are getting 7% - 8% loans to buy their first BR with the same issues. its not confined to seller finance or subject to type of closings, difference is we are over here taking over 3% loans.
Has anyone posted not to? People are allowed to be skeptical. I think the hundreds of 1 posters that flood every Pace related topic is more closely aligned with the definition of spam.
As someone who drives a 2018 Kia Picanto I take offense. Kidding. Sent you a DM Miron (it's nothing malicious). Hope to hear back from you sir.
I'm ready right now
Of the 1-5 options I listed as reasons for why Pace rug pulled his incel henchmen 3 and 4 are where the chips fell. 5 would have been going full Madoff like Ponzi.
3 and 4 are he was using the unsophisticated to build his name so he could then start launching his commercials and seminars since well Nudge was shut down by the FTC and now he doesn't think he has competition.
Hey BP,
After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.
For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.
Want to get a last sanity check before forking out > $11,000 in the program membership.
Any and all feedback welcomed.
There are better options for a fraction of the cost and you aren't being preyed upon by his unsophsticated pornhub addicted disciples.
I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.
I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.
I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.
Do not hesitate to join us and be one of our next partners and friends. 😉
So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?
Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.
A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.
The problem with subto (which I'm not opposed to as a strategy in certain circumstances by the way): is it's not actually a low capital strategy like the gurus teach. Most of these properties are distressed or have serious problems keeping them from being sold for maximum price on the market (or else why would the seller go the subto route?). Your example is great until that $2,200 a month stops coming in, and the deferred maintenance and cap ex issues become a problem, keeping it from being rented. An experienced investor who is well-capitalized can deal with the issue and continue making payments, without harming the seller or their credit. Some rookie investor who got into subto last week because they paid for a program and joined an awesome community, with limited capital and no experience dealing with the many various issues that properties can have... will they keep making the payments for a year and dumping capital into the problem until it get's resolved, while the property is losing equity as the market shifts? Nah, they won't, and there's the risk in the strategy as it seems like it's being taught by certain gurus.
You might be legit yourself, at least you have more than one post on here, but it sure looks like somebody is spending a lot of money on virtual assistants creating new BP accounts tonight...
This part of your post screams inexperience.
We own four subtos - with no problems what so ever. zero repairs.
The ones we have for assignment, 90% of the deals we get are newer built and need nothing.
Your idea of what subto is based off of what you think it is. Again no real backing.
BUT IN GENERAL, if you buy a house that is older , or doing a bad job on vetting your tenants yes absolutely things will happen to your houses. But PLENTY of people here in these forums are getting 7% - 8% loans to buy their first BR with the same issues. its not confined to seller finance or subject to type of closings, difference is we are over here taking over 3% loans.
My point was that the main reason for a seller to choose subto is to avoid foreclosure or bankruptcy because they are in danger of defaulting on their mortgage. If they could sell on the open market for maximum sale price, why wouldn't they do that? I'm not saying that's always the case, your experience may be different but if so it's the exception not the norm. Why else would someone take the risk of being left in the lurch by an unreliable buyer unless they are at least somewhat desperate? The seller is still liable for those mortgage payments, plus any late fees or other penalties if something happens to the buyer and they can't make the payments (or they are dishonest or inept to begin with, like in this case outlined right here: https://www.subto.com/post/what-are-the-risks-of-buying-a-pr...). The seller may end up wrecking their credit and losing their home. To be clear: subto poses a lot of risks for both parties but mostly the seller. It's dangerous to gloss over these risks and a seller is unwise to choose this path if they have other options. I try to avoid legal grey areas and minimize the "what ifs" in my investing.
As far as needing to make repairs and get a place ready to sell and get top price, there are plenty of programs and ways to structure a deal that agents use in these situations that are better for a seller than sub2. It seems some people's minds are already made up however, and I'm tired of spending all this time on here talking about a strategy that is hardly ever actually done, so good luck everyone!
So had a phone conversation this morning with @Miron Briley In our conversation Miron did the following:
1) explained how he heard about Pace's membership
2) what he has learned through the mentorships and some drastic steps he took to achieve success.
3) basic financials of some of the deals he did (purchases prices, interest rates negotiated for seller finance, some bird dog fees for bring the deals to other investors, units he has bought a buy and hold investor)
4) a very interesting story about his experience about his initial meeting Pace
What he did not discuss on mention
1) a plug for me to be sign up for the mentorship
2) a pitch for gator lending
He said to call him if I was curious to talk in greater detail, even mentioning going over deals I find to see if it would be a good SubTo deal. Now I have no plans to join to the mentorships but after speaking with Miron, I can see how a person (with the right drive and plan) could not only get value out his the mentorship but also scale very quickly. I appreciate you taking time out of your day to speak with me Miron and applaud you taking what retired LCDR Willink refers to as extreme ownership of you RE future.
WD
So had a phone conversation this morning with @Miron Briley In our conversation Miron did the following:
1) explained how he heard about Pace's membership
2) what he has learned through the mentorships and some drastic steps he took to achieve success.
3) basic financials of some of the deals he did (purchases prices, interest rates negotiated for seller finance, some bird dog fees for bring the deals to other investors, units he has bought a buy and hold investor)
4) a very interesting story about his experience about his initial meeting Pace
What he did not discuss on mention
1) a plug for me to be sign up for the mentorship
2) a pitch for gator lending
He said to call him if I was curious to talk in greater detail, even mentioning going over deals I find to see if it would be a good SubTo deal. Now I have no plans to join to the mentorships but after speaking with Miron, I can see how a person (with the right drive and plan) could not only get value out his the mentorship but also scale very quickly. I appreciate you taking time out of your day to speak with me Miron and applaud you taking what retired LCDR Willink refers to as extreme ownership of you RE future.
WD
I have also spoken on the phone with Miron and been on zoom calls where he is offering free training. I have found him to consistently encourage and provide resources without asking for anything in return! Keep up the good work!