271: Pace Morby on How To Buy Real Estate & Build Wealth Without Cash
Invest Like a Boss
Sam Marks Johnny FD Derek Spartz
4.8 • 518 Ratings
🗓️ 20 April 2023
⏱️ 72 minutes
🧾️ Download transcript
Summary
Star of A&E's "Triple Digit Flip" and expert on creative real estate financing Pace Morby joins the show. Derek interviews him on his new book, Wealth Without Cash, and all the types of ways that Pace has been able to accumulate thousands of pieces of property with little or no money down. Johnny and Derek round it out with their own experiences on house flipping, creative financing and what they think about the TV show.
About Pace Morby:
Pace Morby is known as the go-to “sub to guy” bringing creative strategies to the mainstream real estate investment industry such as subject to and seller finance deals. Pace’s high energy and no BS approach has attracted a loyal following across social media. Though he began his real estate journey as a general contractor running a successful business and then as a HomeVestors franchisee, he and his partner have since amassed over 32 million dollars in buy and hold properties while continuing their full operation of wholesale, fix and flip, and many other symbiotic businesses. Pace is on a mission to over deliver on value, showing others that anyone can start in real estate, be successful, and change their lives and their families’ lives for generations.
About Wealth Without Cash
Want to close MORE deals in LESS time for LESS money?
For the first time ever, Pace Morby has compiled everything you need to know to build your real estate portfolio and become a millionaire investor without utilizing your own capital--all within a single book!
From subject-to, to seller finance, and more, these proven creative finance strategies allowed author Pace Morby to acquire more than 1,000 properties and $150 million in assets without using his own cash.
Whether you’re just getting started as an investor or already have a real estate business, Wealth without Cash will fully prepare you to find off-market leads, uncover sellers’ motivations, negotiate with confidence, close more deals, build a team, and much more.
Discussed:
Where we are:
- Johnny FD – Phuket, Thailand / IG @johnnyfdj
- Sam Marks – Jomptein, Thailand / IG @imsammarks
- Derek – Los Angeles / IG @DerekRadio
Sponsor:
- NetSuite
For the first time in NetSuite’s twenty-two years as the #1 cloud financial system, you can defer payments of a FULL NetSuite implementation for six months. Learn more at NetSuite.com/ILAB.
Like these investments? Try them with these special ILAB links:
- Fundrise – Start with only $1,000 into their REIT funds (non-accredited investors OK)
*Johnny and Sam use all of the above services personally.
Time Stamp:
- 08:12 - Johnny's LA House Flip
- 12:26 - Pace Morby Interview Begins
- 18:25 - Why You Should Look for "Expired Listings"
- 30:32 - Why You Can Make Way More From Sober Living
- 34:31 - Types of Creative Financing
- 53:00 - Johnny & Derek's Thoughts on Pace's Strategy & Show
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Transcript
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| 0:00.0 | Hey bosses, before we kick off this episode, I want to tell you about our friends over at NetSuite. |
| 0:05.0 | Now, if your business earns millions or tens of millions of revenue, first of all, congratulations. |
| 0:11.3 | But second of all, you need to stop what you're doing and take a listen because NetSuite by Oracle |
| 0:15.5 | has just rolled out the best offer we've ever seen. |
| 0:18.8 | NetSuite gives you the visibility and control you need to make better |
| 0:21.7 | decisions faster. And for the first time in NetSuite's 22 years, as the number one cloud |
| 0:27.3 | financial system, you can defer payments a full six months for the entire NetSuite implementation. |
| 0:34.9 | That's no payments and no interest for six months. And you can take advantage |
| 0:39.5 | of this special financing offer today. It's no interest, no payments. Take advantage of this |
| 0:45.2 | special financing offer at net suite.com slash iLab. That's net suite.com slash I-L-A-B to get the |
| 0:53.2 | visibility and control you need to weather any storm. One more time, it's NetSuite.com slash I-L-A-B to get the visibility and control you need to weather any storm. One more time, it's net suite.com slash iLab. All right, let's kick off this episode of Invest Like a Boss. Welcome to the Invest Like a Boss podcast. I'm Sam Marks. I'm Derek Sparts. And I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss. |
| 1:13.1 | Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash. |
| 1:22.4 | What is up bosses? Today, I am in Phuket, Thailand. |
| 1:28.4 | And I'm talking to my homie on the West Coast, |
| 1:32.8 | Derek Space Cadet Sparts. How you doing, buddy? |
| 1:35.0 | You know what's weird though? |
| 1:36.0 | Your background looks like California. |
| 1:38.2 | Tell people, I mean, everyone's listening on audio, |
| 1:40.1 | but tell people where you're saying it looks like |
| 1:41.8 | straight out of the Hollywood Hills. |
| 1:43.6 | Well, it's priced like it's in the Hollywood Hills. I'm actually house sitting for a friend who has probably one of the most expensive six bedroom villas in all of Thailand. Man, I need better friends. But you know what's really funny is I actually didn't want to come here. He had to almost not pay me. Maybe he was like, hey, bro, like, come on, you'd be doing me a favor. |
| 2:03.2 | And I was like, ah, I have the studio apartment that I rented in John Tien and Compton. Like, like, you know, I got my favorite coffee shop downstairs. I'm like, like, I'm perfectly happy. And he's like, you know, my place has been sitting empty for like almost a month now. |
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