Using Storytelling to Explain Real Estate Concepts

4min Snip

00:00

Play full episode

Summary

Transcript

Episode notes

Pace Morby, a real-estate investor, emphasizes the importance of storytelling in his role. Instead of using complex terminology, he uses relatable stories to explain concepts to sellers, agents, and lenders. He narrates a story about buying a camera on installments and compares it to his Investor strategies for buying properties. As a result, he successfully conveys complicated ideas using simple stories.

Patrick Donley chats with Pace Morby to discuss his new book, "Wealth Without Cash". You’ll learn how to build a portfolio of off-market deals without using your own cash, what the difference is between subject-to and seller financing, how to find motivated sellers, how to overcome common seller objections and create win-win scenarios, and much more.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:40 - What Pace learned from his father about real estate.

02:40 - How the story of an F-150 helps sellers understand terms and becoming the bank.

06:06 - What he learned from his first mentor.

06:06 - What the “bunny story” is all about and how solving people’s problems helps everyone.

06:06 - Why it’s a requirement for success to do things you don’t understand how to do yet.

06:06 - Why 85% of Pace’s deals are structured using creative financing.

06:06 - Strategies to find motivated sellers.

46:13 - What the process of creating Wealth Without Cash was like along with the video companion guide.

46:33 - Who the book is designed for.

50:54 - Understanding the 7 layers of your “why”.

52:18 - How creative financing provides a wide variety of tools to close deals.

52:18 - What the difference is between “subject to” and seller financing.

52:18 - Why his real job is as a storyteller and educator.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
The Everything Guide to House Hacking by Robert Leonard.
Wealth Without Cash by Pace Morby.
Related Episode: Listen to REI131 Buying Real Estate with $0 Down and 0% Interest Part 1 w/ Pace Morby, or watch the video.
Related Episode: Listen to REI132 Buying Real Estate with $0 Down and 0% Interest Part 2 w/ Pace Morby, or watch the video.

NEW TO THE SHOW?

Check out our Millennial Investing Starter Packs.
Browse through all our episodes (complete with transcripts) here.
Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance.
Enjoy exclusive perks from our favorite Apps and Services.
Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.
Learn how to better start, manage, and grow your business with the best business podcasts.