Hey Pace, thank you that you're sharing your experience. Cannot realize one thing... Could you give me a favor to explain shortly here or may be in next video: How do you get ownership of the property with only taking payments for mortgage? 1 ) Does it mean that previous owner will just transfer own obligations to you and will move out without any compensation for the previous investments and down payment that he may did in the beginning of property purchase? 2 ) How do you compensate to previous owner his investment and down payments that he made already till the date of property selling? 3 ) Do you have any case like this in your practice? 4 ) If so, how do you deal with it? ~ Thank you in advance!
I must have missed it. Ultimately how did you harvest the equity from this property? The last thing he said was he doesn't like to refi it. Did he sell it? I guess he sold it and then somehow 1031'd into the fund. Would he have to pay depreciation back at the time of the sale?
I paid the 10k, and then nobody wanted to talk to me. They only call me back when they want to sell me something else!!😫😫 Don't misunderstand me....I still think he's a great guy with a great program. Ultimately I just have to make it work, even if they don't want to talk to me. 🤣🤣 And I have🤑🤑... NO EXCUSES!!
1031=no cap gains tax. thats the whole pt of real estate is to "never" take out your capital gains OR have enough depreciation/other tax write offs to offset any you do
You don’t tell the lender and hope you aren’t in the small percentage of lenders who look into it and call the loan due. There’s some other parts of the contract that allow you to transfer back to seller and lease to own where your payment is their payment. There’s some potential legal issues you could run into but it’s all risk vs return.
The provision that you are referring to is the Due on Sale Clause. They have a strategy that is simply put, gambling that tactics that the Subject-To communities have devised to obfuscate the sale of the property to the lender. If unsuccessful they hope to convince the bank to allow the note to continue to perform. If these efforts are unsuccessful they look at options with the original seller.
Can’t talk rn, Pace just posted a new video
Hey Pace, thank you that you're sharing your experience.
Cannot realize one thing... Could you give me a favor to explain shortly here or may be in next video: How do you get ownership of the property with only taking payments for mortgage?
1 ) Does it mean that previous owner will just transfer own obligations to you and will move out without any compensation for the previous investments and down payment that he may did in the beginning of property purchase? 2 ) How do you compensate to previous owner his investment and down payments that he made already till the date of property selling? 3 ) Do you have any case like this in your practice? 4 ) If so, how do you deal with it? ~ Thank you in advance!
NOT THE STERLING HOUSE😢 classic OG
I must have missed it. Ultimately how did you harvest the equity from this property? The last thing he said was he doesn't like to refi it. Did he sell it? I guess he sold it and then somehow 1031'd into the fund. Would he have to pay depreciation back at the time of the sale?
hopefully he respond
Pace Morby 4 President 2048 ! ❤
What he doesn't tell you is, it will cost you $10,500 to be on his team.
You'll make it right back on your first deal.
Just get it from a gator
Look everyone, here is a hater named @gooseirl. 😂😂😂
If it is not an invesment u asure to get more in return, then is not worth to gamble
I paid the 10k, and then nobody wanted to talk to me. They only call me back when they want to sell me something else!!😫😫 Don't misunderstand me....I still think he's a great guy with a great program. Ultimately I just have to make it work, even if they don't want to talk to me. 🤣🤣 And I have🤑🤑... NO EXCUSES!!
Awesome!! Love this - thanks
When do you or should you take owner withdrawals for personal income?
In 2019 there was no 3% interest , how did you take 3% interest with subject 2?
He didn't say the seller bought the house in 2019...he said he took over the house in 2019.
Harvest that equity baby! What do you plan on using your new gains on?
Hello Pace🎉
What about capital gains and tax liability due to the sale?
If he rolls the cash into a larger asset aka his sub to fund and Multifamily then it transfers into the next properties tax free.
1031=no cap gains tax. thats the whole pt of real estate is to "never" take out your capital gains OR have enough depreciation/other tax write offs to offset any you do
Also there was no supplemental tax?
Most mortgages have a don’t allow seller carry. How do you find those that do allow a buyer to take over payments
You’re wayyyy behind the ball
You don’t tell the lender and hope you aren’t in the small percentage of lenders who look into it and call the loan due.
There’s some other parts of the contract that allow you to transfer back to seller and lease to own where your payment is their payment.
There’s some potential legal issues you could run into but it’s all risk vs return.
@@rmw090Not helpful.
The provision that you are referring to is the Due on Sale Clause. They have a strategy that is simply put, gambling that tactics that the Subject-To communities have devised to obfuscate the sale of the property to the lender. If unsuccessful they hope to convince the bank to allow the note to continue to perform. If these efforts are unsuccessful they look at options with the original seller.
Private money list link no worky.
Appreciate the list pace!
Sonia gave you $40 000 without anything?
you mustve not watched the video as he discussed this and paid her out in 16 months
Looks like Pace is participating in No shave November 😄
Hey Pace, this may be a long shot. I’m looking for private money. $30,000 at 14% for 60 months if you know anyone I will pay a 2k funding fee
@kalebeasyselltx, I meant Kaleb, I misread your name.
If not related to realestate.....good luck.
@@decabello67 yes it related to Real Estate
What is it for?
Bro I got you!