Get Creative with Pace Morby

Building Real Estate Empires with Pace Morby and Mat Sorensen

Aug 4, 2024

Pace Morby, a real estate visionary known for his community-centric approach, chats with Mat Sorensen, an expert in scaling businesses within the sector. They reflect on their journeys, discussing the power of community in real estate and the importance of leadership. Pace emphasizes the contrast between mere followers and a supportive network, while Mat shares insights on attracting top-tier talent. Their engaging dialogue touches on innovative financing strategies, emotional negotiations, and the vital role of personal connections in crafting successful partnerships.

01:01:11

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Episode guests

Mat Sorensen

Pace Morby

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Episode notes

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Quick takeaways

Pace Morby emphasizes the necessity of building a supportive real estate community that fosters collaboration and shared resources for collective success.

The importance of understanding sellers' emotional motivations is highlighted through Morby's personal experience of helping a seller, enhancing negotiation outcomes significantly.

Morby advocates for creative financing methods, like seller financing, as effective strategies to acquire properties without relying on traditional banks.

Deep dives

Pace Morby's Journey into Real Estate

Pace Morby reflects on his journey into real estate, sparked by an early lesson from his contractor father. The advice to invest in land because no more of it would be made resonated with him, ultimately leading to a strong desire to pursue real estate as a career. Despite lacking knowledge initially, Morby's determination grew, leading to a transformative conversation with a developer that urged him to transition from contracting to full-time real estate investment. This pivotal moment fueled his ambition, resulting in an impressive portfolio valued at over $350 million.

Intro

3min

Building Real Estate Community

23min

The Power of Partnership and Creative Financing in Real Estate

2min

Creative Financing and Emotional Negotiations in Real Estate

11min

Innovative Financing Strategies in Real Estate

13min

Connecting in Business and Investment

4min

Exploring Real Estate and Business Acquisition Education

6min

Welcome to a new episode of Get Creative! In this episode, Pace Morby sits down with Mat Sorensen. They dive deep into their journeys in real estate, from humble beginnings to becoming industry leaders. Pace shares his experiences and insights on building a community, overcoming industry challenges, and the importance of strong leadership and culture in business. Mat adds valuable perspectives on scaling businesses and attracting top-tier talent.

Highlights:

"The legacy I want is hanging out with my friends every single day."

"A Facebook subscriber is not a community. A community is people doing deals together and helping each other."

"Building a business is not even building a business anymore; it's acquiring high-level people."

"Thoroughbreds don't want to hang out with donkeys."

Timestamps:

00:05 - Introduction and Early Beginnings

06:30 - First Steps into Real Estate

12:20 - Overcoming Industry Challenges

18:45 - Hard Money Misconceptions

25:45 - Building and Leading a Community

31:50 - A Lesson from a JV Gone Wrong