How Pace Morby Buys Rentals WITHOUT Cash or Credit (Creative Financing)
Wealthy Way
Ryan Pineda
4.9 • 2.2K Ratings
🗓️ 8 September 2023
⏱️ 156 minutes
🧾️ Download transcript
Summary
This episode features Ryan’s good friend, Pace Morby. Known for his creative financing methods as a real estate man himself, he and Ryan have much to discuss.
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Connect with Pace!
Instagram - https://www.instagram.com/pacemorby/
YouTube - @PaceMorby
Multifamily investments, while appealing, may not yield profits for several years. The first five years are particularly challenging. Still, this encourages diversification into other income streams.
Pace highlights the importance of balancing loans, personal income, investments, and long-term strategies, advocating for a dual approach to both real estate and business for financial security.
Their discussion also touches on the benefits of maintaining a job alongside real estate investments, enhancing financial resilience.
Pace and Ryan emphasize personal growth as a key component of leadership and discuss the challenges and rewards of hiring and leading employees. They stress that successful entrepreneurs must be open to change and willing to make mistakes to gain experience.
They agree that many aspiring real estate investors remain financially limited because their capital is invested in assets rather than skills. They advocate for continuous self-improvement as the foundation for accumulating wealth and building valuable relationships.
Pace compares online networking to onlin
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About Ryan Pineda:
Ryan Pineda has been in the real estate industry since 2010 and has invested in over $100,000,000 of real estate. He has completed over 700 flips and wholesales, and he owns over 650 rental units. As an entrepreneur, he has founded seven different businesses that have generated 7-8 figures of revenue.
Ryan has amassed over 2 million followers on social media and has generated over 1 billion views online. Starting as a minor league baseball player making less than $2,000 a month, Ryan is now worth over $100 million. He shares his experiences in building wealth and believes that anyone can change their life with real estate investing.
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Transcript
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| 0:00.0 | Right now, no exaggeration if I wanted to, I could buy probably 20 or 30 rentals per day easily. |
| 0:05.1 | How many deals do you guys have right now? |
| 0:07.3 | I have 325 single family homes, and then I've got 1,700 multi-family. |
| 0:12.4 | How are you able to do this without banks and without commercial loans? |
| 0:15.0 | Well, the seller's selling to me on creative finance. |
| 0:17.0 | They're letting me take over their loan, and then they're selling financing their equity to me. |
| 0:20.3 | Everybody's going, why? |
| 0:21.7 | The number one reason in multi-family why people do this is because five ways to make money on real estate. |
| 0:27.1 | Cash flow is number one, number two is appreciation, number three. |
| 0:31.2 | The fourth one is my favorite one. |
| 0:33.7 | It's the silent one. |
| 0:35.2 | It's the, we both got our career started in real estate, and then we started transitioning |
| 0:40.8 | to other businesses, media, education, everything else. |
| 0:44.4 | Honestly, though, dude, the thing about everything I've learned that's more important than |
| 0:47.9 | creative finance and more important than business acquisitions and house acquisitions is honestly |
| 0:53.0 | how to build a proper of 91% of people will never hit a million dollars a year in revenue. |
| 0:59.7 | It's not because the business is not a great business. |
| 1:01.9 | It's not because the product's not a good product. |
| 1:03.6 | It's because people... |
| 1:05.7 | What's up, well-fitters today. |
| 1:07.1 | I have got a repeat guest in this man. |
| 1:09.2 | You guys all know him. |
... |
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