Get Creative with Pace Morby The Impact of Trump's Tariffs and ICE Raids on Businesses
Welcome to a new episode of Get Creative! In this episode, we dive into the importance of understanding politics for real estate investors and business owners. Today, Pace Morby shares his personal experiences and insights on how recent political events, such as Trump's tariffs and ICE raids, are directly impacting his businesses, including a cleaning company, fix and flip projects, rental properties, and creative financing deals. He emphasizes the need for entrepreneurs to stay informed and adaptable in the face of shifting political landscapes.
Highlights:
"Telling a real estate investor or business owner to stay away from politics is similar to telling a farmer not to learn about weather patterns or the seasons."
"If I have people that are in my affordable housing that can't show up to work because they're fearful of the ICE raids, then what does that mean? It means I need to make adjustments."
"It's important for people to understand what's going to happen with your fix and flips. And as I teach people to go buy businesses with creative finance, it's important to understand how to adapt to the politics around you."
"Politics are important, and you should know how politics are and more importantly, you should know how I'm adapting to these types of things and how it's affecting me."
Timestamps:
00:00 Introduction
03:15 Impact of Trump's tariffs on the speaker's cleaning business
06:30 Disruptions to the speaker's fix and flip project due to ICE raids
09:45 Effects on the speaker's rental business and affordable housing
12:00 Subject-to and creative financing deals and vulnerability to political changes
15:30 Budget cuts and their impact on interest rates
17:45 Concluding thoughts and call to action
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