Unlocking Real Estate Riches: The SubTo Strategy with Pace Morby
Apr 24, 2024
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Pace Morby, a SubTo investing expert, shares groundbreaking strategies like turning real estate deals into a fun game. Topics include transitioning from hard labor to strategic investing, facing challenges, maximizing lead conversion with creative financing, and leveraging charity for tax planning. The journey to a TV show and the importance of community in real estate investing are also discussed.
Implementing subject-to and seller finance strategies can enhance real estate investing conversion rates and portfolio diversification.
Transitioning to creative financing methods can expedite new investors' entry into the real estate market, resulting in faster deal closures and increased profitability.
Establishing a board of advisors, surrounding oneself with experienced investors, and prioritizing education are crucial steps for success in real estate investing.
Deep dives
Using Subject To and Seller Finance in Real Estate
Utilizing subject to and seller finance strategies can be advantageous for real estate investors. By incorporating these methods into your investment approach, you can enhance your conversion rates and diversify your portfolio. Subject to deals present solutions for sellers facing challenges like lack of equity, while seller finance opportunities offer gains for sellers seeking full price deals paid over time. These strategies can triple conversion rates for wholesalers and provide avenues for assigning deals, enabling investors to make significant profits.
Transitioning to Creative Financing for Real Estate Success
Transitioning to creative financing methods can be a game-changer for new investors looking to enter the real estate market. Pioneering creative finance approaches can often result in faster deal closures and increased profitability compared to traditional cash offers. By engaging with seasoned investors and seeking mentorship in creative financing, beginners can expedite their learning curve and secure their first deals more efficiently.
Building a Strong Foundation in Real Estate Investing
Establishing a robust foundation in real estate investing involves surrounding oneself with a board of advisors who offer guidance and expertise in creative financing. By interacting with experienced investors and immersing in the real estate community, new investors can gain valuable insights and opportunities for growth. Setting ambitious goals and prioritizing education from industry leaders can pave the way for long-term success in the dynamic field of real estate investing.
Tax-Free Wealth Generation and Compound Growth Strategy
Buying a property without using credit, showing income, or bank balances and donating it to a charity can lead to substantial tax benefits. By channeling the property's cash flow through the charity tax-free, one can generate funds to reinvest. This strategy involves leveraging a whole life insurance policy to compound tax-free growth and withdraw funds for new projects, creating a cycle of tax-free wealth accumulation.
Collaborating with Competition and Capitalizing on Market Opportunities
Competing real estate investors found a way to collaborate by identifying deals, avoiding bidding wars, and partnering on projects. This teamwork approach led to fruitful collaborations, such as fixing and flipping properties together, showcasing a mutually beneficial strategy for competitors in the industry. The podcast highlighted the importance of embracing competition as potential allies and capitalizing on joint opportunities for business growth and success.
Welcome to a new episode of Get Creative. In this episode, I joined Jamel Gibbs on his podcast, Jamel Gibbs Business and Investing Podcast. we dive deep into the niche world of real estate investing. We discuss groundbreaking strategies in "SubTo" investing and share insights that could transform how you view and handle real estate deals.
Highlights:
"I'm just a normal dude, who figured out a lot of strategies that had been taught for over 100 years and just simply put them to action."
"The secret sauce is turning this into a fun game every single day that you get to hang out with your buddies."
"Once I figured out that I never have to work for anybody ever again, it became the funnest thing."
Timestamps:
00:27 - Introduction to Subject To Investing
04:13 - The Transition from Hard Labor to Strategic Investing
07:11 - Building a Community and Free Learning
10:29 - Facing Challenges and Overcoming Adversity
13:30 - Embracing Authenticity in Business and Life
18:33 - The Importance of Having a Board of Advisors
23:30 - Maximizing Lead Conversion with Creative Financing
33:55 - Strategic Advantage of Charity and Tax Planning
41:17 - The Unexpected Journey to a TV Show
55:44 - Community and Value in Real Estate Investing