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Wholesale Hotline | Brent Daniels

Make Enough Money To Quit Your Job | Subto Breakout

Wholesale Hotline | Brent Daniels

Wholesale Hotline

Business, Investing

4.9 β€’ 586 Ratings

πŸ—“οΈ 3 November 2023

⏱️ 18 minutes

🧾️ Download transcript

Summary

On today's Wholesale Hotline Podcast (Subto Edition), Pace Morby breaks down his business.

Show notes:

  • Pace breaks down all the areas he does business in.
  • The difference between a syndication vs a fund.
  • Pace breaks down his fund structure.

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🚧🚧🚧 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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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

You're listening to the Sub 2 Breakhouse with Pace More Beyond the Wholesale Hotline Podcast.

0:11.0

This is the first time I've actually put a fund together. So do you know much about funds?

0:18.0

Like syndication?

0:19.0

Yeah, syndication, yeah.

0:20.0

Kind of. I have a fund, not a syndication. There's a difference between the two. So I have, oh, this is funny. We were gonna make a whole YouTube video about this actually. So I have five buy boxes, right? So I buy a lot of single, like single family, buy myself solo stuff. The only thing that I buy is sub two or seller finance. I don't,

0:39.1

I won't do a cash deal. I just simply don't. And then solo multifamily, same thing. I only do

0:44.2

sub two or seller finance on that. And these are me by myself, right? Me and my team. And I probably

0:49.9

have probably buy three single family homes a week, somewhere around there. Some, you know, one to three depending on the week. And then solo multi family, I'll probably buy three single family homes a week somewhere around there.

0:54.2

Some, you know, one to three depending on the week.

0:56.2

And then solo multi-family, I'll probably buy 25 units a month on average.

1:01.6

So some months I'll skip a month and I'll do like a four, we have a 43 unit that we just

1:06.2

bought the other day and I haven't bought a small multifamily deal in a couple of months.

1:10.2

So like that kind of just

1:11.4

averages out. Again, all sub two in seller finance. I'm not using any banks on anything I do. Literally

1:16.6

no banks, no credit check. Very rarely do I use any of my own money. Sometimes I will use my own money

1:21.9

depending on what we have going on and that's like a specific situation. And I then do a lot of deals with my students. These deals here

1:29.8

are only Arizona, Texas, and Vegas. I will not do anything for my own portfolio if it's just me

1:36.6

owning them outside of Arizona, Texas, and Vegas. If somebody sends me a deal in Atlanta, I used to buy a lot in

1:42.9

Atlanta. We have about 27 properties in Atlanta. I stopped buying in Atlanta just because I really like my own backyard and I really love Vegas. They're just easy markets. I will buy any single family deal or multifamily deal with a student anywhere in the country. Even if it's California, I'll buy in California. And what I do is my students

2:00.9

come to me and they'll say, hey, I have this lead on this house and it's a sub two or seller finance deal. I could assign it, right? They could wholesale. You know what wholesale is, right? Yeah. Okay. I could take the contract and I could assign it to a buyer, right? And the buyer could be me, right? Sometimes some of the deals I'm buying I'm buying from my students. Like

2:17.5

Hyle Claro, I bought a deal from her this morning on the west side i've never seen the house i just go oh interest rate purchase i don't even care about the purchase price interest rate how much money am i putting into the deal and how much is the cashful it's all i care about right so she says well i have a deal i have it under contract i could just assign it to you and make $10,000 to $15,000

2:34.9

on the assignment, but I really put an emphasis on owning real estate. I, wholesaling is great. It's a good side hustle, but it's just another full-time job. It's like being a real estate agent. It's like, that's what we do is we're a wholesale brokerage. Okay, cool. So it's just a job, right? You have a job. So like let's say you decide I want to take six months off or you get let go from your job. What happens? How do you pay your bills next month? Right? So I put an emphasis on ownership. And so what happens is my, I tell my students, go wholesale, go wholesale 10, 15, 20 times. We have, I think we have about 20 zooms a week. So we teach our students how to wholesale in two or three of those zooms every single week. We wholesale. It's great. I do it.

...

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