Pace Morby’s name is synonymous with creative financing. In fact, you could say that he’s brought back a revival of strategies like subject to and seller financing. He’s been so successful with these strategies that Pace has been able to buy over six hundred rental units this year without using a single bank loan! He believes that now, even with rising interest rates and high inflation, rookie investors have a chance to get better deals than ever before!
Welcome to this week’s episode, where we’re live from BPCon2022! We’ve brought in Pace Morby, friend of BiggerPockets, to talk about everything related to creative finance. If you’re brand new to this topic, don’t be alarmed. While some of Pace’s methods may sound complicated, they aren’t actually so difficult in practice. And in just one episode with Pace, you could be convinced to try them out on your next deal!
Pace shares how he’s finding deals, where he’s buying, the negotiation tactics he uses, and why now may be one of the best times to buy. He also discusses why sellers are so open to trying alternative financing options, how you can pick up real estate deals for zero dollars down, and why creative finance options offer far better returns than bank financing in 2022, 2023, and beyond!
Ashley:
This is Real Estate Rookie episode 236.
Pace:
People confuse debt and ownership, meaning I can take over payments on a house and people go, “How? Don’t you have to pay off the debt in order for you to become the new owner?” No, I don’t. Think about it this way, if I go into a grocery store and I use a credit card and I buy a bunch of groceries, who’s the owner of those groceries if I use a credit card to buy them? How do you know that? If I use somebody else’s money, how am I the owner of those groceries?
Ashley:
My name is Ashley Kehr and I’m here with my co-host, Tony Robinson.
Tony:
And welcome to The Real Estate Rookie Podcast, where every week, twice a week, we bring you the…