Locked In A 4% Subto Deal With $300/Month Payments? -- Here’s The Flip Plan | Subto Breakout
Wholesale Hotline | Brent Daniels
Wholesale Hotline
4.9 • 586 Ratings
🗓️ 13 June 2025
⏱️ 33 minutes
🧾️ Download transcript
Summary
On today's Wholesale Hotline Podcast (Subto Edition), Pace is joined by Eric Richards to break down his process A to Z.
Show notes -- in this episode we'll cover:
- Eric breaks down his latest “subtail” deal in small-town Ohio—buying a 4-bed home with zero hard money, using subject-to financing, a $5K down payment, and a creative cross-collateralization strategy.
- From $53K purchase to $115K sale, Eric and his team executed a full rehab and resale in under 60 days—clearing $30K+ profit without spending a dollar out of pocket.
- How Eric built a 22-person team, scaled his local reputation, and now dominates his market with flips, rentals, wholesales, and soon a property management and title company—controlling the full real estate stack.
- Why creative finance thrives in rural markets: less competition, more seller flexibility, and big returns in overlooked zip codes—especially with strong local operations.
- Eric lays out his Everest goal: to control the real estate landscape from Pittsburgh to Knoxville via partnerships, services, and affordability-focused ownership—making him not just an investor, but a community builder.
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
☎️ Welcome to Wholesale Hotline & Subto Breakout✌️✌️! ☎️
Need discounts and free trials!? Check this out for the softwares/websites/contracts/scripts/etc we use in our business:
✌️ https://shor.by/pace-youtube ✌️
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🗝🗝 FREEBIES 🗝🗝
📑 FREE assignment contract: https://www.pacejmorby.com/assignment...
📑 FREE wholesale contract: https://www.pacejmorby.com/wholesalec...
📑 FREE cold calling script: https://www.pacejmorby.com/coldcalling
📑 FREE cold texting script: https://www.pacejmorby.com/text
📑 FREE foreclosure script: https://www.pacejmorby.com/foreclosure
📑 FREE disposition checklist: https://www.pacejmorby.com/dispo
📑 FREE comping cheat sheet: https://www.pacejmorby.com/comping
📑 FREE guide to pulling a water list: https://www.pacejmorby.com/water
📑 FREE guide for taking photos on appointments: https://www.pacejmorby.com/photos
📑 FREE seller lead form for talking to sellers: https://www.pacejmorby.com/seller
📑 FREE access to my upcoming ebook: https://www.pacejmorby.com/exitstrate...
📑 FREE profit and loss template: https://www.pacejmorby.com/profitloss
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
Want a site to host your podcast? We use PODCASTICS!: https://www.podcastics.com/?&_rid=12536
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
👽✌️ Learn from Pace and Cody 👽✌️
🔸Follow Pace on IG: https://www.instagram.com/pacemorby
🔹Join our free dope creative finance Facebook group: https://shor.by/8vxk
🔸Dive deeper within my mentorship: https://go.subto.com/pace-sunday-service
🔹Watch Sunday Service live on my YouTube every Sunday at 7 PM PST
🔸Tune in to Wholesale Hotline live on my YouTube every Monday 5pm PST
⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo ⚠️
➖➖➖➖➖➖➖➖➖➖➖➖➖➖➖
🚧🚧🚧 DISCLAIMER 🚧🚧🚧
❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a Podcast for entertainment purposes ONLY ❎
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Hey guys, Pace Morby here. Welcome to Wholesale Hotline podcast. Today we're going to be talking |
| 0:03.7 | about wholesaling and how you can get started. But I want to tell you, wholesaling is not just an |
| 0:07.8 | amazing way for you to get started in real estate, but you can also build cash flow and build |
| 0:12.7 | a portfolio in the process. Today's episode, you will walk away with tremendous notes. |
| 0:18.0 | And I want you to remember, we do a live episode every Monday night |
| 0:22.4 | over on my YouTube channel, YouTube.com forward slash pace morby. |
| 0:27.1 | Head over there and you can meet other audience members and do deals in the live chat. |
| 0:31.9 | Remember to subscribe, give us a little bit of love, and make some comments in the show |
| 0:36.4 | notes down below so we know what to talk about in the future enjoy today's episode so we got eric richards on the podcast today everybody we're going to be talking about sub two it's been a couple of months since I've talked about sub two deals. We've been talking |
| 0:54.5 | about RV parks and mobile home parks. Heck, my team just got a 102 unit motel under |
| 1:02.0 | contract this week that we are converting into Super Section 8. Now, what I call Super Section 8 is |
| 1:09.9 | when HUD housing will pay for your entire apartment |
| 1:14.5 | building all on Section 8 vouchers. And so super, super excited about that deal. Creative, creative, |
| 1:22.4 | creative. But Eric is going to be talking today about one of the best strategies ever. |
| 1:32.8 | I've got nine flips in the works right now, and sadly, all of them are using hard money. |
| 1:39.8 | But Eric is doing a flip right now that does not involve any hard money because he's a badass. |
| 1:44.0 | Him and his partner went out, got a deal, and we're going to be talking about that deal today. Eric Richards, what's up, bro? Thanks for being on the show today. What's up, Pace? How are you doing, buddy? I'm so happy to be here with you guys. We are live. Good to see you guys. Santiago, Ida, N.S. Tammy Jenkins. Good to see you guys. Thank you guys for being here live on the show. Eric, where do you live and where is this deal we're going to be talking about? |
| 2:04.2 | I live in a small rural area called St. Clairsville, Ohio. |
| 2:09.2 | It is about 15 minutes between the Ohio-West Virginia border. |
| 2:14.4 | And I am probably a little biased when I say it's the greatest market in country |
| 2:20.0 | because I am the person. I actually agree with that. These small little role of markets like |
| 2:26.5 | number one, creative finance is so simple there. Like the sellers are usually pretty open to it. Like |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Wholesale Hotline, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Wholesale Hotline and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.