Hey guys, Pace Morby here. Welcome to Wholesale Hotline Podcast. Today, we're going to be talking about

wholesaling and how you can get started. But I want to tell you, wholesaling is not just an amazing

way for you to get started in real estate, but you can also build cash flow and build a portfolio

in the process. Today's episode, you will walk away with tremendous notes. And I want you to remember

we do a live episode every Monday night

over on my YouTube channel, YouTube.com forward slash pace morby. Head over there and you can meet

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Enjoy today's episode.

We're back at it again with a whiteboard on a real house that we bought subject to no money out of our pocket and actually got paid $15,000 to buy the deal. Today we're going to be breaking down all the numbers. How is this possible? How do I structure these deals? Where does the money come from? If you're not using your money but you have closing costs and the seller gets some money, where does that money come from? We're going to explain all of these numbers today and how you can also get access

to some of that money. So let's jump right into it. House on 3932 West Murrow Avenue in Phoenix,

Arizona. This is an amazing story. We actually have a playlist of the first call I had with her,

my first appointment with her in person, second call I had with her closing the deal. We have a walk

through with Jack Selby at the property. Jack Selby is one of the co-hosts of Ice Coffee Hour. So 3932 West

Myrtle Avenue is a property that we cold called the seller. I went to the appointment, locked

up a sub two contract, and here is the purchase price of this house. So, 368, 385, and 6 cents. That is a very weird number.

What a weirdo. And the reason being is because we took over basically three mortgages.

Okay. So first lien position. The first lien is a loan that she has had for quite a while.

The loan is 3.75 with a bank. The loan she used to buy the house, she still owes 109,441 and 71 cents on that. So we took over that. We are gonna be making that payment. That payment every single month. I'm gonna break this down for you guys, give you guys all the goods. That payment every month. we're going to add up and say, hey, Pace, how the heck are you going to make money on this? $1,09 per month. That includes principal, interest, tax, and insurance that full $1,09. Okay, there's another lien. We didn't really know about this until we owe a desk grow, but there's another lien against the property, another debt she owes.

And that is her home equity line of credit at 3% interest.

Right now, she owes $1,127,943 and 35 cents.

That is also through a bank.

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