Creative Financing Secrets with Pace Morby & Grant Cardone
Mar 25, 2024
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Real estate investor Pace Morby and Grant Cardone discuss creative financing strategies, including no money down deals, seller financing, and controlling debt. They share success stories, legal frameworks, and insights on scaling in multifamily units. Learn how to challenge traditional real estate investing norms and expand your portfolio with innovative approaches.
Creative financing is a powerful tool in real estate, essential for securing deals with no money down.
Controlling debt is crucial for success in real estate investing, focusing on leveraging existing debt for acquisitions.
Offering sellers the money they want in exchange for the time you need is a key strategy in creative financing.
Deep dives
Creative Financing and Real Estate Success
In this podcast episode, real estate investor Pace Morby shares his innovative strategies in real estate, focusing on buying deals with no money down. He emphasizes the importance of creative financing in the industry. Pace discusses acquiring existing debt, using seller finance, and targeting older properties with established equity as key strategies for success.
Navigating Seller Finance and Subject-To Deals
Pace highlights the distinction between seller finance and subject-to deals, explaining how he takes over existing debt without needing credit checks or bank involvement. He elaborates on strategies to identify properties owned by sellers for over 20 years as prime targets for seller finance opportunities, emphasizing the advantages of acquiring properties with fixed debt terms.
Exploiting Foreclosures and Expired Listings
Pace delves into the opportunities presented by sellers in foreclosure or unable to sell via agents, showcasing how he approaches these situations to take over payments without involving banks. He discusses leveraging existing debts on properties through subject-to deals and shares insights into avoiding the do-on-sale clause effectively in real estate transactions.
Real Estate Investing and Seller Financing
Real estate is highlighted as a valuable asset with the potential for future value. Unlike Wall Street, insider trading is legal in real estate, allowing collaboration and deal-sharing without legal constraints. The podcast explores the concept of seller financing, where properties can be acquired with existing debt in place, creating opportunities for alternative financing methods and attracting penalty box buyers seeking homeowner alternatives.
Expanding Investment Markets and Strategic Property Acquisitions
The discussion delves into the strategy of targeting specific markets like Arizona, Texas, North and South Carolina for real estate investments. By focusing on properties tied to divorce, bankruptcy, probate, foreclosure, and expired listings, savvy investors can acquire assets at below-market values. The narrative emphasizes the importance of negotiation skills, unconventional financing techniques, and capitalizing on distressed property opportunities for successful real estate ventures.
Welcome to a new episode of the Get Creative podcast. In this episode, I dive into the world of innovative real estate investment on Grant Cardone’s Podcast. We talk about how to use creative financing strategies to secure deals with no money down, and how you too can tap into these methods to expand your real estate portfolio. This conversation is packed with insights, from seller finance deals to the power of controlling debt. Get ready to challenge everything you thought you knew about real estate investing!
Highlights:
"It's criminal not to know how to [use creative financing. It's the most powerful tool in real estate."
"I'm in the business of controlling debt. That's all I do."
"You're offering them the money they want, as long as they give you the time you need."
Timestamps:
00:00- Introduction to Creative Financing with Pace Morby
05:00- Finding the Right Deals through Seller Finance
10:03- The Power of Seller Financing for Long-term Gains
15:22- Understanding the Difference Between Title and Deed
20:00- The Legal Framework of Subject To and Seller Financing
25:52- Utilizing Subject To for Real Estate Deals
30:24- Scaling with Seller Financing in Multifamily Units
35:00- The Impact of Banking Changes on Creative Financing
40:00- Personal Stories of Successful Creative Financing Deals
45:00- The Future of Real Estate Investing and Creative Financing