All Forum Posts by: John O'Leary

Like @Chris Seveney mentioned, never pay anything upfront. Lenders, and brokers are paid at closing. Facebook is notorious for these types of scams. There is a lender directory here on BP full of great lenders who do not request upfront fee's 

I would see if you can find a lender to do the 50% in first 1st lien position then have the seller finance the other 50% with a silent second, or record the 2nd position after you close. If it's long term financing it may not be an issue. If you are trying to secure in a bridge loan, and rehab the property, and the seller records the 2nd lien the lender may freeze the rehab funds. 

You can use a AIRDNA projections, or statements from a property manager in the immediate area managing similar properties.

@Account Closed I don't think it's fair to question my ethics as a lender due to how I may, or may not personally view someone like Pace. I feel like I've heard Pace talk about his GC business, and how he filed bankruptcy due to someone owing him money. I don't have details, and I won't judge someone based on not having all the facts. What you want to do, or how you personally feel about him is your own prerogative. I've only heard good things, and will reserve judgement until I experience otherwise. 

@Account Closed Sounds like there's maybe a personal issue here. I'll leave this alone but I appreciate your feedback and insight. 

I see your point, and to address your question directly, I wouldn't personally lend $50K in a second position based on the scenario you've described. Have you had a chance to speak with any students or community members who've experienced losses due to over-leveraging or unresolved title issues in similar second position investments? Many learners under mentors like Pace have successfully applied the 'Subject To' (Sub 2) method without needing to resort to a second mortgage. I know investors who have showcased specific properties acquired using Sub 2 as public case studies.

I think it's crucial for investors to make informed and responsible decisions tailored to each unique opportunity. Joining a mastermind involves two key actions: applying what you learn and continually seeking knowledge both within and outside the mastermind's community. I recommend visiting his Facebook group or attending a local Sub2 meetup. This way, you can engage directly with individuals and gain insights from their experiences. Anyone that has met Pace, or had the opportunity to speak with him gives the same feed back in that he's a pretty genuine guy.

Texting is becoming increasingly difficult with the new laws and regulations in place. Even users with a long established relationship with platforms like Launch Control aren't getting anywhere. Keep us posted please!!

Texting is becoming increasingly difficult with the new laws and regulations in place. Even users with a long established relationship with platforms like Launch Control aren't getting anywhere. Keep us posted please!!

That might be difficult to do, especially in FL where most carriers are requiring a 4 point inspection. Happy to give you a few people locally to reach out to. Shoot me a DM.

@Nick Belsky is correct, just check with your CPA, and Attorney for tax pros/cons and liability concerns. You might want to separate rentals into different LLCs, and not have so many assets under one roof.