SubTo Airbnbs: How to Acquire Properties Without Banks
Jul 14, 2024
auto_awesome
Real estate investing experts Jorge Contreras and Pace Morby discuss creative financing strategies like 'subject-to' transactions, emphasizing the power of storytelling in sales. They share insights on acquiring properties without banks, generating income through Airbnb, and personal growth in real estate. Practical advice includes learning from mistakes, working in the industry, and focusing on mentorship for success.
Success in real estate and business is boosted by the art of storytelling and effective communication.
Personal development, care, and dedication play crucial roles in facilitating success in real estate ventures.
Overcoming fear of mistakes, taking action, and gaining practical experience are vital for growth in real estate.
Deep dives
Taking Inspiration from Outcast for Effective Communication
Creating a story out of information boosts success in real estate, sales, and business. Pace Morby shares a story related to a massive painting inspired by Outcast's art of storytelling. Urging the importance of conveying messages through stories, he emphasizes the significance of relaying narratives for impactful communication in various business interactions.
Derived Lesson from Family Background for Providing Support
Sharing a personal context, Pace Morby discusses his deep level of care and dedication in business dealings. Raised in a family with strong relationships and work ethics, he highlights how his upbringing and work ethic shape his commitment to assisting others, aiming to uplift individuals with support and encouragement.
Reflecting on Privileged Beginnings to Empower Others
Revealing having 12 siblings and supportive parents, Pace Morby acknowledges his privileged start in life. Relating his advantageous background to being 'born on third base,' he stresses the duty to assist and uplift those less fortunate, working towards empowering individuals and enabling their success in real estate and beyond.
Encouraging Action Over Overthinking in Real Estate
Addressing the common hurdle of overthinking and fear of making mistakes in real estate ventures, Pace Morby highlights the significance of taking action. Stressing that 99% of real estate learning comes from practical experience, he advocates embracing mistakes, problem-solving, and on-the-job learning to enhance success in the field.
Gaining Experience Through Hands-On Real Estate Participation
Pace Morby advises aspiring real estate enthusiasts to seek hands-on experience with professionals to deepen knowledge and understanding. Suggesting working in various real estate roles for practical learning and skill development, he emphasizes the value of mentorship, problem-solving, and being actively involved in real estate transactions for a comprehensive education.
Empowering Through Teaching and Mentorship in Real Estate
Emphasizing the value of teaching as a learning tool in real estate, Pace Morby highlights the impact of imparting knowledge and helping others as a means to solidify understanding. Encouraging individuals to share their expertise with others, he underscores the importance of mentorship and empowering fellow professionals for collective growth in the industry.
Welcome to a new episode of Get Creative! Today, we have an insightful conversation featuring Jorge Contreras and Pace Morby. In this episode, Jorge and Pace talk about the intricacies of real estate investing, specifically focusing on the creative financing strategy known as "subject-to." They discuss how to acquire properties without the need for traditional bank loans or large down payments, and how this strategy can be applied to generate substantial income through Airbnb.
Highlights:
"Everything we do in real estate and sales is about the ability to tell a story and convey a message."
"I was born on third base. It's my job to get all my people out of the dugout and give them a chance at bat."
"Emotional income is way more valuable than financial income."
"Creative finance solves 90% of the problems that a cash transaction cannot solve."
Timestamps
00:00 - Introduction to Get Creative!
00:20 - Meet Jorge Contreras and Pace Morby
03:11 - The Art of Storytelling in Real Estate
09:39 - The Importance of Who You Become in the Process
10:28 - Mindset and Personal Development in Real Estate
15:44 - Breaking Free from Who You’ve Become
27:03 - Understanding Subject-to Transactions
32:12 - Real-Life Example: Branch Forest Way Property
39:41 - Applying Subject-to in Real Estate and Cars
53:02 - Advice for New Real Estate Investors
► Join The Subto Community & Learn Creative Finance Directly from Pace:
https://paceapproves.com/subto-gc
► Want to Become a Private Money Lender? Join Us For The Upcoming LIVE Training this Saturday to Learn How to Lend Money on Real Estate Deals:
http://joingatortribe.com/yt
► Join Our Free Facebook Group to Connect with Pace and his Students: https://paceapproves.com/freefb-yt
► Become a Top Tier Transaction Coordinator and Make Money Doing The Paperwork For Real Estate Transactions:
https://paceapproves.com/tttc-gc
► Listen To Pace and His Students Share Insider Secrets To Real Estate Investor Success:
https://getcreativepodcast.com/
PLUG IN & SUBSCRIBE
Instagram: https://www.instagram.com/pacemorby/
TikTok: https://www.tiktok.com/@pacemorby
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode