529: “Free Real Estate”, Negotiations, & Market Cycles | 'Takeover' Ep w Pace Morby

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 November 2021

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Creative financing solves an important problem for almost every type of real estate investor. Don’t have enough cash? Try creative financing! No credit? Try creative financing! Ran out of conventional loans? You already know what we’re going to say...One of the most knowledgeable real estate investors around, who pretty much reinvented the subject to deal, is Pace Morby, and he’s here with us today!

Pace invites four guests onto the show to ask him their most burning questions about subject to deals, creative financing, legal protections when investing in real estate, and how to negotiate with a seller. Even if you’ve never thought of doing a creative financing structure, Pace may convince you that there’s good reason to be educated on them, as it could help you save thousands in closing costs and allow you to scale your portfolio much quicker.

In This Episode We Cover:

What are novation agreements and why they may be a great secret negotiating tactic
Whether or not today’s housing market shows similar signs to the 2007 crash
How to calculate profits for a potential buyer on a wholesale deal
Whether or not an LLC is necessary when buying rental properties or flips
The inexpensive team member that could help take HOURS of work off your plate
What to do when a seller won’t come down to your maximum offer
And So Much More!

Links from the Show

Check the full show notes here: https://biggerpockets.com/show529

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Transcript

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0:00.0	I can't negotiate my down payment with a bank.
0:02.4	The bank has loan programs.
0:03.9	They say it's either 20% down or it's 35% down or it's 10% down or it's 3.5% down.
0:09.7	There's no negotiating that down payment with a loan.
0:12.6	But if I go directly to a seller and I work out subject to or seller finance, I have the
0:16.7	ability to negotiate a lower down payment, therefore giving me a larger cash on cash return.
0:23.3	Free real estate as far as I'm concerned.
0:32.5	What's going on everyone?
0:33.5	It's pace more be today's host of the bigger pockets podcast.
0:37.4	You might be wondering where is David, where is Beardy Brandon, where I sent them off to
0:41.5	play Jiu Jitsu with each other.
0:43.5	Is that what you say?
0:44.5	You say play Jiu Jitsu?
0:45.5	I'm not sure.
0:46.5	But anyway, in all seriousness, it's our job here at the bigger pockets podcast to show
0:52.1	you how to get started building wealth through real estate today.
0:55.9	We do that by bringing on top performers, expert investors, and just plain regular people
1:00.5	trying to make it happen as well.
1:03.2	We do that by laying out the tactics and mindset that will make you financially free.
1:07.5	If you make the simple choice to take consistent action like like subscribe, etc. if you're
1:12.9	getting value here.
1:13.9	All right, and a quick word from today's show sponsors.
	...

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