The Rich Somers Report Building a $450 Million Real Estate Empire Using Low & No Money Down Strategies | Pace Morby E316
27 snips
Mar 6, 2025 Pace Morby, a real estate investor and creative finance guru with a portfolio nearing half a billion dollars, divulges his secrets to scaling a successful enterprise without traditional loans. He shares game-changing strategies like seller financing and sub-to deals. Listeners will learn about the potential in boutique hotels and mobile home parks, and the importance of leveraging motivated sellers. Pace highlights the common pitfalls new investors face and imparts his proven playbook for minimizing risks and building lasting wealth.
AI Snips
Chapters
Transcript
Episode notes
Hiring Top Talent
- Hire the best person you can afford, even if expensive, for top-level positions.
- This top talent will attract other A-players who want to learn from them, building a strong team.
Team Dynamics
- Pace Morby uses a 'donkeys and thoroughbreds' analogy for team dynamics.
- Thoroughbreds (A-players) leave if donkeys (low performers) remain, disrupting the culture.
30-Day Trial
- Hire new employees as temps for 30 days before offering full-time positions.
- This trial period reveals work ethic, communication style, and how they handle challenges, allowing for better hiring decisions.