How He Bought 4 Duplexes With No Money Down | Seller Finance

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  • Опубліковано 15 чер 2024
  • In today’s video, Pace Morby sits down with SubTo student, Jake Cross, to discuss how he bought four duplexes at 0% seller finance. They discuss how Jake’s background led him to pursuing real estate and how each party in the transaction benefitted even though Jake bought this deal with no money down. There are a lot of golden nuggets in this interview that everyone can glean from. If you’re a private money lender, someone who has a lead that needs help, or even a contractor or property manager looking to help Jake with his properties, reach out to him today!
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    Chapters:
    0:00 - Intro
    1:51 - Jake’s background
    4:10 - Get used to hearing “No”
    9:37 - What was the turning point?
    13:42 - Jake’s deal breakdown
    23:49 - Terms/numbers on the deal
    27:06 - What are tenants paying?
    28:15 - Payment to the seller
    29:22 - Cashflow
    30:48 - The private money lender
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    ⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️
    🚧🚧🚧 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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 UA-cam video for entertainment purposes ONLY ❎

КОМЕНТАРІ • 37

  • @PaceMorby
    @PaceMorby  6 місяців тому

    What is Seller Finance? Creative Real Estate Explained here: ua-cam.com/video/6FXApQ1y2KE/v-deo.html

  • @JakeDCross
    @JakeDCross 6 місяців тому +5

    Pace had a great time talking with you! Thanks for having me!

    • @PaceMorby
      @PaceMorby  5 місяців тому +1

      Thank YOU bro. Appreciate you🙏

    • @theyknow1387
      @theyknow1387 5 місяців тому +1

      Hey Jake I would love to link up bro

  • @jbadkins
    @jbadkins 6 місяців тому +6

    Burg was mostly inspired by Germany settlers; reference to castle or fortified fortress

  • @motishorhaham9105
    @motishorhaham9105 6 місяців тому +5

    Very nice deal! Congrats! Thanks for sharing. Every video Pace produces gives you insight and knowledge. It's amazing content.

    • @PaceMorby
      @PaceMorby  6 місяців тому

      Thanks! Glad you enjoyed and got some value 💪

  • @zacharywatson6742
    @zacharywatson6742 6 місяців тому +4

    Amazing deal, thanks for sharing Pace! So much value

  • @robertleparulo672
    @robertleparulo672 6 місяців тому +2

    Great deal!! Thanks for sharing!

  • @chainsawerekson2972
    @chainsawerekson2972 6 місяців тому +3

    Congratulations! Well done. Thanks for bringing these great examples, love it!

    • @PaceMorby
      @PaceMorby  6 місяців тому

      Jake is killing it🙌

  • @VT-wp2ob
    @VT-wp2ob 6 місяців тому +1

    my congratulations, an example of good work👏

    • @PaceMorby
      @PaceMorby  6 місяців тому

      Yess! Jake is crushing it

  • @sharonkaye1
    @sharonkaye1 6 місяців тому +2

    Great job.

  • @aaronjones975
    @aaronjones975 6 місяців тому +2

    This is fantastic learning material, I need to meet Jake!

    • @PaceMorby
      @PaceMorby  6 місяців тому

      Jake is awesome!

  • @marckuhnmak
    @marckuhnmak 6 місяців тому +2

    That is awesome!

    • @PaceMorby
      @PaceMorby  6 місяців тому +1

      Marc! Thank you brother🙌

  • @baughmantwin7818
    @baughmantwin7818 6 місяців тому +1

    Stare college area 👍 I’m here in York pa and helped build a new upmc as a union sheet metal worker here in central pa 🤟

  • @VONNYBRAVO
    @VONNYBRAVO 5 місяців тому

    Give him his 🔟s!!!!!!

  • @jacobdebach5253
    @jacobdebach5253 5 місяців тому

    Love it! Pace if you have time and can help l! I sold my place to an investor subject too and he went awol and won’t make payments any way I can get it back!?

  • @macrayklohs3176
    @macrayklohs3176 6 місяців тому

    What is the amortization on the note? How is the payment so low

  • @baughmantwin7818
    @baughmantwin7818 4 місяці тому

    My fellow pa neither I’m south of harrisBURG lmao down in east York county . We gotta link up

  • @random-bs1gh
    @random-bs1gh 6 місяців тому

    How do you come up with the monthly payment on 0% SF ??

  • @AdventuresOfKeithius
    @AdventuresOfKeithius 6 місяців тому +1

    How does seller finance nullify captial gains tax??
    And how did he pay the remaining principal balloon without "refinancing"???

    • @drakebonilla
      @drakebonilla 6 місяців тому

      It lessens the effect just like selling one per year like he was advised, and you can refinance with the bank, refi with a private money lender, or sometimes the seller even gets so used to the mailbox money they end up being okay with continuing the payments and extending the balloon.

    • @AdventuresOfKeithius
      @AdventuresOfKeithius 6 місяців тому

      ​​@@drakebonilla So you just get taxed on what you actually get paid in the year, month x 12?? Is it still 40%??
      And I think dude said he wanted to have a low enough principal to be able to pay it off without refinance.. Lemme check... 22:55

    • @drakebonilla
      @drakebonilla 6 місяців тому

      Correct it just defers the taxes that would otherwise be charged at once, which in turn makes it easier to have tax deductions offset the tax charged.
      And what he was referring to is he needs the principal to be low enough to go ahead and do a refinance in other words it needs to be low enough so that it appraises high enough for the loan he gets covers what’s left.

    • @AdventuresOfKeithius
      @AdventuresOfKeithius 6 місяців тому +1

      @@drakebonilla Ah, got it 👌🏻👌🏻 Thanks for the tips...

  • @Therealceobran_
    @Therealceobran_ 6 місяців тому

    So don’t u still have to use the banks to refinance?

    • @drakebonilla
      @drakebonilla 6 місяців тому

      Yes or private money with no bank

  • @lyftuberninjaworkaholic7524
    @lyftuberninjaworkaholic7524 6 місяців тому

    He should let guests talk. There is too many interjection to get to the material points.😂

  • @michaelk906
    @michaelk906 4 місяці тому

    So an owner with a 640k paid off property getting $6400 a month in rental income …..decided to sell and accept a 64k down payment and seller finance 576k and get $1920 for 300 payments. 🤔. The seller is happy getting zero percent interest for 25 years on his investment… BUT If he took a 6% interest for 25 years…he would have earned $532,000 in interest ONLY plus his 1920 principal. So he gave that up, cuz he got slightly above market rate🤔 Moral of the story…. Find a “extraordinary not smart seller”.