Non-Traditional Real Estate: Sell Your House with Ease
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- Опубліковано 5 вер 2024
- Looking to sell your house? Pace Morby, a reputable real estate buyer with a track record of over 3000 successful transactions, offers a non-traditional approach. Learn how he takes over existing payments, provides long-term cash flow, and ensures your property's maintenance. Discover the advantages of subject to transactions and gain peace of mind knowing your mortgage will be serviced by a reliable third party. Sell your house hassle-free and explore new opportunities utilizing creative finance today!
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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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 UA-cam video for entertainment purposes ONLY ❎
People, just understand that the time he takes to express his passion for free. Like in his free time. That's a huge show of character. thanks again! Pace!
Pace and his team are the best at what they do. I literally put another house under contract this past week Subject To the existing mortgage staying in place and will be closing on July 7. This will be my 561st real estate transaction.
The only thing that doesn’t make sense is how often you ask her does that makes sense?
She asked what if she wants to move the loan out of her name into yours and you turned it around and said you were improving her credit by making years of on time payments. Smooth! Then the servicing company paying the mortgage wipes it off her DTI. Objection taken care of. Awesome
OMG...Pace you are amazing and a blessing for so many...I'm so proud to be called a baby 🐘 working towards sub✌🏾
So good. You guys hit the most important questions and Pace, your answers knocked it out of the park! Great call.
Thanks bro! Glad you enjoyed the video!
You got to be the best to do these calls and show us exactly the temple on how to deal with a seller wow this is awesome
Thank you Pace for sharing this!! Keep uploading this type content! Already have learned so much! Thanks again
This is good stuff Pace… only challenge is it’s not duplicatable. I can’t drop all the credible numbers like I’ve done about 3,000 of these deals. My team of people around the country don’t deal with banks anymore etc…. But hands down you sell your track record great to sellers and they would be a fool not to buy into your subto idea to get out from under their house. Great problem solver. Thanks man!!!!
I thought the same. Have to print this transcript and pick out the OTHER phrases that build confidence, THEN go back and pick out the stats that we don't have and figure out how to rephrase them to apply generally to these type of deals.
You sure can if you let people know your "mentor" has closed over 3,000 of these deals
Hell yes! AGA'S shoutout!!! It is the best. I'm drooling.
This was pure gold 🔥🔥
Outstanding - valuable first and foremost for the home owner, but valuable to those of us just getting started in learning about this business. Thank you.
Love it ✌️
Masterfully handled. 👏👏👏Learning tons and tons for you, my friend. Thank you for these videos, Pace!
"Thank you so much for sharing this invaluable information! You've truly changed my perspective on real estate and opened up new possibilities. Your insights are a game-changer!
You are so welcome!
Subto sounds sketch until you break it down. When I was in the Corps, I came across so many Marines that were stressing about what they were going to do with their homes after they got orders. This would be a way out for many of them. Thanks, Pace, awesome video. If I come across someone in this situation, how do I get ahold of you?
what does the real estate agent make (Ryan in this case) in this type of transaction? How and who does pay the RAE?
Wow that was perfect
In the Bigger pockets podcast you mentioned due on sale clause insurance. I have researched like crazy and can’t find such a thing. Why?
Sweet! Thank you for sharing Pace&Team!
💜💜💜
Great video
Do you know how differently things operate in Canada?
Like butter baby
Very good video, thanks for the information.
one question, excuse my ignorance, but I could go to the bank and ask for a loan of 2.5M giving a Dow payment to the bank of 20% ie 500kusd and use those 2.5M to buy 32 houses worth 450k only paying the Dow payment of 80k (20%) and the rest I take out a 30 year mortgage. In EEUU
I make it easier in case it was not understood, I can borrow 2.5M from the bank and pay 20% which would be about 500kusd and buy a building of 12M giving a down payment of 2.4M(20%) and the rest take out a mortgage for 30 or 40 years ?
Ok how can you be creditable in your first deal. How can you tell someone thst hey I’m a creditable buyer
And the unfortunate part that never gets told the the seller is that if the buyer purchased subject to and for whatever reason defaults, the buyer is still on the hook for the mortgage. Moreover, they don’t even own the house anymore.
Right. We don't have Pace's track record.
@@rinagetsreal6189 unfortunately whatever the track record may be, he could get hit by a semi tractor tomorrow. We’re often presented the question of what happens if we don’t pay the loan, the only answer is you’re screwed. Nobody is too big to fail.
@@computerxpress1088 Will Pace not answer this question? I'm new to his videos.
He explained that if he misses a single payment, its built into the agreement that the deed/ownership would transfer back to the original owner. Obviously the owner could then just sell the house, or rent it out (could even refinance), while also keeping Pace’s initial concessions if any.. plus, keeping any of the loan paydown accrued during that sub to period. Not quite sure if the 1 missed payment would put a strike on her credit though, and of course it could potentially take her a couple months of payments to sell or get a tennant
@@EVRGRNhats the first I’ve heard of someone putting a clause in for the deed to go back to the seller. Without that, its an all around bad deal for the seller. That what if is a big what if…if they dont own the house (deed). How can they sell legally? Also, the lender has the power to call the entire loan due as almost all have that clause in the mortgage paperwork.
Pace buy my house.
What if she wants to buy a house and she still has that debt and only way for her to buy a house is for that loan to be payed off what would she do in this situation
Pace answered this question, with the 3rd party verified that the payments are being made monthly. They don’t include that debt because it’s being paid by a 3rd party
@@tonyyoung327but is that really true. Think its possible but many lenders wont just let them off the hook and will still include that debt in their calculations. I also would t lend them money if I was a lender, as they no longer own the house but are *still on the hook for debt.
@@Tharvey83 How do you think others that are into buying and holding rental properties do it? Banks make money via loans.
I don't understand, I've been watching your videos since the beginning and you've never addressed what the benefit to the sellers are. I don't understand why a seller would sell like this?! The only benefit I could see is if you pay a higher price, but then in that case how do you cash flow?
I believe that he explained that ... the seller is in a low equity situation in a going down market or lost their job and can't make the payments or as is happening now, the interest rates are making the payments unbearable. In all these situations the seller is either on the way to bankruptcy or losing a bunch of investment. Pace makes it all go away and in fact increases the seller's credit score over time.
@@r.lindoncoutts1897 I am a realtor and have been for a while, I have yet to see a house with negative equity. there is always enough equity to sell it and walk away, when you buy a house you need to put down a down payment, the value could not have gone down that much more than that. It doesn't make sense to sell your house and put your credit in someone else's hands. Additionaly, even if you did have to, the low interest rate your holding with the mortgage is an assets and people are willing to pay for that, and the fact that pace is saying in this video that 4.75 is a bad rate is very deceiving and kind of manipulative to the sellers. There are plenty of people that would overpay for a house right now just to get that low interest rate and a buyer that let's say has. ~10% EMD saved up and looking to buy a house can give that to the seller and that's a much better deal than what pace is offering sellers. I'd buy all day.
@@ymh-productions998 What if the seller took a second mortgage/home equity loan? This could put them into negative equity or no equity. If I was going to offer my home with seller finance, I'd want an entity like Pace with strong cash flow vs a working family that could lose their job at any moment for various reasons.
This was expertly explained
@pacemorby not sure how you only have 200k followers, I would expect this to be much higher.