You are soooo right Pace! They DO NOT teach you what you need to know in Real Estate School! You have to learn in the field which is nuts! I'm all about changing the industry for the betterment of buyers n sellers! Agent n Subto student here! ✌🏽❤
Its mind blowing to me how some agents even have a license. Im a Realtor and have done several expired listings that didnt sell for 6 months and i close them within weeks, every single one. Its those agents that give people like myself a bad reputation because they dont give their clients the proper guidance and lack the resources to explore all options to close a deal, but at the same time they give us opportunities to shine. Learning what you have shown me instead of helping them sell the properties im now going to take that and be the one buying them. Thank you for this life changing information im kicking myself for not following sooner and going back through all my deals that were perfect scenarios for this.
Every time an agent tells me sellers not interested I’m gonna send them this video. They are so obsessed with putting their picture on a bus stop instead of actually making money
I’m a Gator/RE agent and it’s SO TRUE! I knew nothing about being an agent after I got my license. You have to learn as you go, which is crazy!! I know more about RE from Pace!
I AM SUBSCRIBED and I LOVE alllll of your videos !!!! APPRECIATE you soooooooooo much Pace! THis one was/IS powerful !!!! Just had this happen w an agent , a new agent ,, said owner of LAND I want soooo bad ,, was only open to cash,, or construction or conventional. Which was not true,, I got the # of the agent on the for sale sign and got in touch w him myself and he said that the seller of the land was willing to consider holding paper. Its an estate with 4 heirs. Nothing is owed on the property. WE want this LAND, almost 8 acres of cleared field, for our ORGANIC “”"GROWING CRAZY”””. GReenhouse, and microgreen business ,, My son already has his LLC for this business !!! NEED land to make it as HUGE as God is intending for this to be !!! My son is already got it going on his rented property BUT we need a LARGER area!! For the business and our homes. Will be the desire of our hearts .. and a LEGACY for my sons two young boys and my Grandchildren !!!
@@probably4331 File a complaint with the real estate board. Pretty easy to catch shady agents when you send in an offer and the seller never received the offer. The top brokers are the worst at hiding offers. Every time I make an offer I call the seller and let them know I made an offer and I am sending them a copy of the offer for their records. Nothing the agents can do besides huff and puff about it. I am an agent as well and the seller is the first person I call.
Seller's phone numbers are not in the MLS listing info, did he use skip tracing to get their number...key component and bummer they skipped over that part.
With respect to the “expired list of 600 homes” look at the big picture of how many homes were listed. 600 Expired listings is a good number, but once again take all active listings and sold homes vs the 600 expired.
As an agent, that agent should be fired by their broker and should lose their license. They're not representing the seller's best interest by allowing the seller to entertain ALL OPTIONS. It's not an agent's job to just deny offers simply because of a type of financing the agent is ignorant to. I am required to show all offers to my clients. Period
This is awesome I had a agent tell me about there year's in the business with the excuse that the seller only wants a traditional sale only, now I understand why. Thanks pace you rock 🪨!!
Days on market for me as an agent has been great. It usually works out in my favor either way, because I love to take advantage of the creative financing phase the longer it stays on market. Either way, it’s been a huge benefit for me.
David Greene is just a hater. Some properties are NOT MLS ready. Some sellers are NOT open to listing on the MLS. Some seller don't have time to list the property and wait to see how it plays out. Wholesalers solve these problems and more by getting cash to the seller quickly.
Pace, I love how you just tell it like it is...and in a very diplomatic manner. You are the gentleman of Subto...Your integrity and love for all people (including agentsLOL) shows in all your amazing videos.
I have a major 😢beef with one of the top real estate agents in Santa Barbara CA since 2006 I will never ever recommend this guy! He represented my home in montecito & did not tell me about an offer that I would have accepted it was 1 mil over what I had in after 4 years. He was set on a much higher price & said we would not even consider it. He never asked me. I found this out from a mutual friend of the potential buyer. after having to carry this mortgage for a full year & no offers I had to change agents & ended up selling the home for lower then what was once an offer that I was never presented by the agent🤬
So many issues with this video: 1. A license is not master's degree. It's just there to give you the legal ability to do something, like driving. Getting a driver's license doesn't grant you the ability to become an F1 driver. 2. The kid just said the exact reason to get the license (the only reason) and that's the MLS! It costs a couple hundred dollars to get the license and some simple study, the cost benefit is huge! Sell one house and you've not only covered the cost and time of the license but profited too. 3. The kid doesn't even do his own pitch (he said some woman did) so let's stop exaggerating here. Yes, he's learning, but is he learning the right way? 4. Your wife pushed him to get his license for a reason (because you guys need the MLS), so stop bashing the agents because without them you guys would not able to do what you do. 5. Ask the kid (or any prospective seller) if they truly understand the inherent risks of uncreative finance. I'm guaranteeing they don't. This is the problem with some of you guys, you're just parroting, and do not fully understand the reality of what you're doing.
If the seller accepted seller financing, and kept the house under their names, how would they qualify for a new mortgage??? wouldn't they be declined or considered "too much financial responsibility"??
im working 7 days a week right now to try and fund this plan, my first big goal is $5,000 a month noi and relocate. i love the information and guidance, im working on changing my mindset and gathering as many assets as possible(as long as the numbers work)🤘🏻
Do you guys have a quick "buy box" guide when looking at buy price, equity, rate, rental income to decide if you give it a go or no-go? I've been seeing stuff by me that's kind of borderline and debating if it's worth it. Imagine like $6000 rent but would need like $200-300k capital deployed and PITI would be like $3000 with an assumed loan. Using 35% opex would be like $900 cashflow maybe but a ton of cash deployed to get it.
Sounds like a great bunch of kids to be honest with you! They’re very knowledgeable I love to work with them! I was one of those former realtors lol, have my license as well since 2005 been investing since 2015. Pace is 1000%, correct! They don’t know their ass from a hole in the wall to be dead honest with you! I just had one Realtor, who I guess read up about me and my Deals, etc., tried to bring me a lot deal in Bronson TX. The absolute worst area, possible! I asked him “bro, first off when you send me a deal, send me the full address, or the APN number so I can do proper diligence on the property“ I continue to tell him, when people just send me The size of a lot with no other information but the town it’s in, something tells me either something fishy is going on, you don’t have the deal in the contract and you just trying to fish it out with a buyer, or your scam artist“ you could almost, and I hate saying this, because I’m not this judgmental, what type of person they are just by looking at a picture on their Facebook page.
Agent here: Some of the bigger problems in this scenario is it is illegal for an agent to not present an offer, no matter what it looks like. The agent is at risk of losing their license and being fined. (Also, real estate “school” isn’t 2 weeks - it’s over 100hrs and 3k and it does over subject-to pretty extensively).
This is freaking amazing! I love how your videos are full of knowledge, extremely authentic and so fluid!! Question, im in tempe az. How the heck do i get around you guys!!!!
it'll be cool there's three siblings, one is an agents, the second is a wholesaler, and third is a flipper. agent find leads, sends it to the wholesaler and pays a the agent, wholesaler sends it to the flipper and pays him the finder fee. He then flips the house and have his brother listed.or that wouldn't work ?
The rebut of the David Green comment is completely unfair. Wholesalers in the traditional sense (meaning not subto) which I am sure David was talking about would not be buying this property under conditions of no equity. His comment is about wholesalers finding a deal off market that has tons of equity already in it and that seller would make more money selling that distressed property on the MLS rather than off market to a wholesaler. This comment is more than accurate in most cases.
This couldn’t be further from the truth. 1. You are not obligated to sell under the offer provided by a wholesaler, nobody is forcing you. 2. Wholesalers run off a simple equations arv x .7 - repairs - assignment fee. 3. Most sellers have an decent understanding of what their Property is worth. That being said I know there’s wholesalers out there taking advantage of people who aren’t sound of mind, but at the end of the day wholesalers are just providing a service, and nobody is obligating you to sign.
@@probably4331 You comment is only confirming mine. Traditional wholesalers can't buy this property because it has no equity. Where do you think the room for ARVx.7 comes from....Bingo! EQUITY! Pace was trying to refute David's comment about wholesalers with this deal which was with a subto wholesaler which I guarantee is not what David was talking about.
@@jgn1977 No Im refuting the comments that David Greene called Wholesalers UNETHICAL and that he believes sellers should go through agents to sell at the highest price. Also... this home WAS wholesaled to me. WHolesalers do not need to buy at 70% of market value. Josh is the wholesaler in this story.... he made money WHOLESALING a home to me. This was a wholesale deal. Stop thinking wholesalers have to offer 70% of value. THIS WHOLESALER OFFERED FULL RETAIL!!!! David Greene is 100% not cool for making comments about wholesalers not being ethical, and he even eluded on his video that its illegal. Come on guys... go watch his video. It was irresponsible.
@@PaceMorby Come on Pace. Again I think you are taking criticism of traditional wholesaling and applying it to subto wholesaling. I know you know the difference. I just don't think its fair to compare the two because David's criticism of "wholesaling" is traditional wholesaling and you're defending subto wholesaling. Everyone knows when you say wholesaling to the average investor, what you mean is traditional wholesaling that you can't buy at full asking price.
@@jgn1977 Someone is selling a shit car for $7,000. As-is market value is 5,000, you offer $4,500. You're in the wrong because you're cheating the owner out of retail price?
