How do I NOT use my own money in real estate deals? What does Pace do with his money? I have money to invest, what should I do with it? In today’s video, Pace Morby talks with Ty Russell about why, even if you have a lot of your own money, you SHOULDN’T always use your own money in real estate transactions. Pace explains that whether you should use your own money or not depends on multiple factors depending on the person and what they want to achieve by lending money. He emphasizes that you should save your money, and spend someone else's.
Pace also gives Ty actionable items to make more passive income since his active income (W-2) requires a lot of his time. Do you want true passive income? Do you want to add properties to your portfolio? Pace answers these questions as they relate to funding deals with your own money versus other people’s money.
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Chapters:
0:00 - Intro
0:33 - I have money, what do I do with it?
2:19 - On the phone with Ty
2:33 - What does Ty want to do?
5:25 - 2 ways to make passive income
14:13 - Good example of networking
19:27 - Never use your own money
20:20 - Example of a scout
22:22 - Private money lender
25:00 - What do I do with the money I have?
27:17 - What Pace does with his money
33:37 - Ability to underwrite
36:33 - Who are the people you surround yourself with?
37:56 - I have money, what do I do with it?
41:28 - Outro
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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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 RU-vid video for entertainment purposes ONLY ❎
1 июл 2024
