All Forum Posts by: Renee Williams
Renee Williams has started 5 posts and replied 20 times.
Post: Pace Morby’s Gator Lending - yay or nay?
- Posts 20
- Votes 22
Christaye, Wow - I can't say I am surprised! After researching further and talking to tons more people over the last few weeks, I am SO thankful I did not fall into this trap... Like you said "cash cow for Pace". If you haven't already, go and read the many Pace posts within BP. Also, I had an opportunity to listen in on a friend's PCS call, and it was similar to what you described. So much of it doesn't add up, and it just didn't sit right with me. She is now $14,000 (subto, gator, and PCS) in with them, and after about a month, has made ZERO. Like you said, DUNS number is free. Ahh, I'm glad you and your husband did not take the bait!
Post: Pace Morby’s Gator Lending - yay or nay?
- Posts 20
- Votes 22
Quote from @Account Closed:
Quote from @Renee Williams:
Hello BP Community, Do any of you have experience as a gator lender? If so, I’d love to hear it!
The way it was written in a different post is that you spend $8,800 to learn how to lend $1,000 to wholesalers to make $100. That means after 88 loans you break even if no one defaults on you and you have 100% success.
How lucky do you feel?
Mike, Thanks for the input. I watched Pace's webinar to promote the program, and he consistently claims you make $1500-$3000 when lending $1k. Therefore, the $3k gator investment, "pays for itself" on the first deal you do. Just doesn't seem true.....
Post: Pace Morby’s Gator Lending - yay or nay?
- Posts 20
- Votes 22
Hello BP Community, Do any of you have experience as a gator lender? If so, I’d love to hear it!
Post: Business credit cards recommendations to build credit!
- Posts 20
- Votes 22
Quote from @Chris Seveney:
@Renee Williams
We have a capital one card.
I recommend capital one or chase
Post: Business credit cards recommendations to build credit!
- Posts 20
- Votes 22
Quote from @Paul Vail:
Post: Business credit cards recommendations to build credit!
- Posts 20
- Votes 22
Quote from @Adah N.:
@Renee Williams
Signature Fed CU has one that gives 2% cash back or 2 points for every dollar spent. No annual fees. You have to open a business account and they report to your personal credit.
Post: Disadvantages of “soft second” mortgage?
- Posts 20
- Votes 22
Quote from @Chris Seveney:
Quote from @Renee Williams:
Hello all, I believe I qualify for a “soft second” loan (A Soft Second Loan of 20% of the purchase price up to $55,000. Up to $5,000 for Closing Costs for a total of up to $60,000.)
Anyone have personal experience with this type of funding? Seems almost too good to be true…. looking for any downsides and/or wondering if I’m missing anything.
Did not know they still offered those types of loans. Have not ever dealt with one, but if it seems to good to be true, just make sure to do your research on any of the downsides of them.
Quote from @Karl B.:
I bought my first investment property without a realtor. It's not brain surgery. I found an expired MLS listing and contacted the seller. I got a lower price as I used the fact we didn't need a realtor as a bargaining chip.
When the property was on the MLS he was asking in the low to mid 90s (I believe he was asking $94,500 if my memory serves me right) and I bought it for 79K.
I hired a RE attorney as did the seller and it ended up being a great buy and the beginning of my RE journey....
Post: Disadvantages of “soft second” mortgage?
- Posts 20
- Votes 22
Hello all, I believe I qualify for a “soft second” loan (A Soft Second Loan of 20% of the purchase price up to $55,000. Up to $5,000 for Closing Costs for a total of up to $60,000.)
Anyone have personal experience with this type of funding? Seems almost too good to be true…. looking for any downsides and/or wondering if I’m missing anything.
Post: Business credit cards recommendations to build credit!
- Posts 20
- Votes 22
Quote from @Eliott Elias:
You want to get a credit card that reports to D&B and does not show up on your personal credit.