All Forum Posts by: Nate Marshall

“Sub2 is for criminals and con artists. Anyone who comes on these threads and talks about doing Sub2 deals is garbage." James Wise

He’s often WRONG, but he’s NEVER in doubt 

 Those of who warn people about his business practices always come out right. 

“Sub2 is for criminals and con artists. Anyone who comes on these threads and talks about doing Sub2 deals is garbage." James Wise

He’s often WRONG, but he’s NEVER in doubt 

I spoke with them about their VIP program out of curiosity. They claim they do all of the marketing, connect with the leads, negotiate the deal, and close it. After closing they split profits 50/50 with you. The cost of the program is 35K upfront and then approximately $3500/mo for all marketing. They guarantee 200K in revenue per year. I ultimately did not do it but I'd be interested to hear if anyone tried that program or knows of anyone who did. 

I’ve learned a ton from Pace Morby, and honestly, he’s changed my life in more ways than I can count. I’m not even an official member of his community, but the knowledge and support I’ve gained from following him have been invaluable. One of the most powerful things about Pace is that his approach isn’t just about mentorship—it's about community. He’s built an incredible network of people who each play different roles to streamline the deal process. In real estate, having the right team is everything, and his community provides that.

What’s really unique is how hands-on he is. Pace actually answers his DMs, which is almost unheard of at his level. And his community is filled with people who genuinely want to help you succeed. They’ll hold your hand through the deal process, which is crucial when you’re starting out. Even without joining officially, I’ve found success by applying what I’ve learned from him. If you’re serious about doing deals, especially creative ones that most people don’t even consider, his community is worth every penny. It’s not just about getting a deal or two done—it’s about learning a new way to approach real estate that can open up a world of opportunities.

@Mark Thomas@Teddy Williams So far I count 10 of us. We need to find a platform we can all communicate on in a group. Do you have what's ap? 

 Guess what guys…I have an update call scheduled with Tom this coming Tuesday. I wonder what lies he’s going to tell me this time. My questions is, if this is a scam why the fake updates and follow up calls???? It makes no sense.

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That is a fantastic question.

For more than 20 years and over 15,000 closings we had 3 wraps called due.  We fixed all three easily.

Then for the past approximate 3 years and numerous hundred closings, we have seen about 10 to 12 due on sale issues.  There are a few reasons for this: getting insurance in place improperly; inappropriate contact with the bank; one loan servicer that is looking for wraps; etc.  So, yes - there has been an increase in the percentage of wraps called due.  Still a very small percentage -- but an increase.

On each of the approximate dozen that have occurred, only 1 loan was paid off and that was voluntary since the balance was very low.  We have fixed all the rest.

I agree the due on sale clause is a risk in wraps.It is just a very small risk that can be fixed if needed.  And, all real estate transactions have risk.  Some more than others.  It is our job to manage the risk at the inception of the project.

Thanks for the info and comments.

Alan

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Good info.

I don't mean for you to talk out of class, but Pace Morby says in one of his recent videos that he is doing "table top" closings (closing outside of escrow)  "because he knows what he is doing". 

Since he, as the "leader of the pack" has announced that information, which of course influences large numbers of others to follow suit, people who don't want to spend the money for a proper close;

well . . . let me change my thought here, from asking a question to making a comment. The recklessness that trend represents and its implications are staggering.

No response necessary ;-) 

 This is a larger problem than people think. Many of the people paying

$8,800 to 12,000.00 to Pace are not even real estate investors. I have seen Pace pop up on You Tube seemingly like he wants inexperienced people. Too many people are being hurt and it is just a matter of time before a State AG or the DOJ gets involved. The "Morby Method" people have no business making a "big chunk" off of OPD (Other People's Deals)! 

I wonder how many deals Morty’s mentees actually close? 

Don I think they close quite a few  as Pace has a few things he teaches one is gater funding which is providing EM deposits for wholesalers and flippers.  Of course what could go wrong with that .. He also talks a lot about gap funding or seconds so those we know will blow up occasionally.  He has made millions personally  Just like any other national guru who hit it just right has the Utah based fulfillment companies coordinating his marketing. I suspect if I was guess he has made North of 50 mil personally and it could be closer to 100 mil over the last 5 or so years he has been doing this.. All the negative press he gets on Bp just water off of a very wealthy ducks back I am sure he could give a rip about what anyone says about him here on BP.   Guru done with right timing and right product like Sub to when rates rose is a total money maker for sure.. 

Ain't no way....Even Clayton Morris who had a much larger following than Pace grossed a fraction of that. Morris got paid $6,000 by Whalen for every house he sold. He sold about 500 so that's a gross of $3 million......No way Pace is pulling in $6,000 from his students who need $500 EMD loans.

ya I beg to differ Jim.. I worked with Armando Montelongo and Nick Vertucci and rich dad poor dad .. these guys made MILLIONS and I am very confident that Pace has made that kind of money Keep in mind he is not selling houses he is just selling information and subscriptions to his club.. Not defending him or his message .. But I know what kind of money is made in that business being a back end vendor and personal friends with  Nick and others in the industry I have also been to 2 of the different fulfillment companies in Utah These guys make so much money I know you probably dont beleive it.. But one of them had about 150 callers on their floor of their office and the other had about 600 employees.. Plus a 30 million dollar jet you dont buy those on CC and BS.  

its a fact those buying into Paces club for the 8 to 10k 90% will do nothing but Pace has retained the payments.. 

Also Rich Dad made bank I was a vendor for a few years at their monthly seminars were 100 or so investors paid 40k each to be there and that was monthly.. Now granted the cost to get the butts in the seats for the in person events was about 50% of revenue.. by the time you advertise do the first freebie event then then the 3 day work shop.. 

At Armondos and Nicks events which were 8 to 10 times a year they would have 500 folks which accounted to about 200 paying clients each at 40k.. do the math.. And then at the event they upsold them other educations and once they sold everything they could sell.. The students would come to the back of the room to buy rentals  and thats were I was at.. I would provide financing of the BRRR for their rentals.. SO we would make 25 to 40 sales in one day 8 to 10 times a month.. It was pretty wild.. Met a lot of interesting folks over the years. 

Not sure if Pace does big events like this but he certainly sells his info and his timing was perfect for SUB to  rates rose and it was a perfect pitch for him at the time.
Just like when I started in RE in 75 by 79 to 90 when rates sky rockets sub to or owner finance or wraps of our properties were 80% or more of the transactions.. One year we did 800 transactions this was buying our inventory and then selling so 400 properties.. we were in the land business this was all land.. And a ton of fun in the day.

I'm sure the guy is making money, but pulling in the kind of numbers Armando was pulling in back in the early 2,000's, no way no how. Armando was a legit mainstream household name with his show. Guy was like Property Brother's big. Today the media landscape is too saturated with all that stuff. It's been done by everyone and their brother and his following is way too small to be able to sell that many $8,000 courses to people who need a loan for an EMD.

 This https://thestrive.co/pace-morby-net-worth/ jumps into trying to sort out his actual income and net worth but even then, it's a big question mark. 

Given his history prior to all this, namely the ugly stuff in his history, I don't think there will ever be full clarity of it all because I am certain he is laser focused on obfuscating it as much as possible. 

And if in his shoes, yup, I'd do the exact same. 

Keep in mind James that if you made a "How-To-Sec8" success program, sold it for just $2,500..... You'd only have to sell 40k of those to hit $100million in gross sales. 

There is more then 1.3million sec8 rental units is US. That's selling a package to just 3% of units out there. 

Make it $5k and add a "monthly payment plan" now were talking only 20k sales to hit $100milliion..... 

Fruit for thought. 

 Yea but he ain't selling 40,000 $2,500 courses man. He's got like 300,000 YouTube subs. When you're selling paid info you're lucky to get 1/10th of a % of what people are gonna consume for free.  

And to be clear, I don't have any issue with people selling info. I just think the info he sells sucks and do not think he's made anywhere near $50M or $100M selling it.

 He likely only made a fraction of that. 

 Oh ya agreed. From what I can see of his operations I'd peg him at like $1M-$2M or so a year. Which is an amazing income nonetheless.

Serious question oh-great Blue-one: 

What risk exposure do you think he's carrying for this, whatever income? 

Morris was doing great, flying high, until he wasn't, and all came a tumblin down. 

I mean what you showed here, how's he use the excuse that he was just sharing "entertainment" info and was not a party to actions when there using POF of HIS bank account..... That seems to really tie him at the hip to things.

Those people get tagged for equity stripping, mortgage fraud, anything fraud..... 

Like I said, Morris was doing great, until..... Are we seeing a repeat? What do ya think?