Real Estate Investment For Dummies
The Excellence Project with Eric Worre
Eric Worre
4.9 • 1.2K Ratings
🗓️ 27 May 2024
⏱️ 127 minutes
🧾️ Download transcript
Summary
Professional Real Estate Investor Pace Morby shares how he transitioned from construction to real estate, how he made 50k in his very first month and why you should take over someone’s loan instead of getting your own. He also addresses Eric’s limiting beliefs and questions and offers real estate investment advice for Network Marketing Professionals. 2:07:09
Show Notes:
0:00 - Introduction
01:24 - Eric welcomes Pace Morby to The Excellence Project.
04:11 - Pace shares that he grew up in a family of 12 children and that his dad has always been a solopreneur.
06:50 - Pace lived in Korea for 3 years and then built a large construction company.
08:41 - Pace recounts how a woman he worked with changed his entire life through her brutal honesty.
14:14 - The crazy way Pace’s first real estate deal went down.
28:05 - Pace explains how he has never applied for a loan or had his credit checked in any of his real estate deals.
30:28 - Pace answers Eric’s many questions about how to invest in real estate without bank loans.
41:25 - Pace offers real estate investment advice to Network Marketing Professionals.
42:38 - Legal ways to avoid paying taxes when investing in real estate and the many other resulting benefits for sellers and buyers.
01:01:53 - Eric asks Pace the differences between investing in multifamily vs. single family homes.
01:04:19 - Why Pace cannot get a loan from a bank.
01:06:03 - Pace and Eric discuss many different examples of ways to buy real estate without getting a loan and how to legally avoid paying taxes.
01:33:37 - Pace details best practices for choosing real estate investment funds.
01:46:02 - The disaster that is happening right now in the real estate marketplace.
01:48:58 - Should you own or rent your home?
01:51:43 - Eric asks Pace if he could create a real estate investment fund specifically for Network Marketing Professionals.
02:01:17 - Pace explains how he’ll become a billionaire by age 51.
02:03:30 - Eric offers an opportunity to join a real estate investment fund to Network Marketing Professionals.
Resources From This Podcast:
Bird Dog - A bird dog is a real estate investing term that refers to a type of broker or agent who spends their time trying to locate properties with substantial investment potential. A bird dog looks for motivated sellers or undervalued properties intending to pass the deal on to a real estate investor in exchange for a percentage or fee. (Source: Investopedia.com)
KeyGlee https://www.keyglee.com/
Investorlift https://investorlift.com/
LandWatch https://www.landwatch.com/
Invitation Homes https://www.invitationhomes.com/
Creative Real Estate with Pace Morby https://www.facebook.com/groups/creativefinancewithpacemorby/
StartVirtual https://startvirtual.com/
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Questions or Comments?
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Transcript
Click on a timestamp to play from that location
| 0:00.0 | I'm going to go extreme. |
| 0:01.0 | Okay, yeah, yeah. |
| 0:05.4 | I think you go to the network market first. |
| 0:06.8 | Can you find a way for every person listening to this to not pay any tax |
| 0:14.9 | yes using real estate yes |
| 0:18.0 | every single one every single one |
| 0:21.3 | there's not a person on planet Earth that you cannot do this. |
| 0:25.0 | Welcome to the Excellence Project. My name is Eric Worry. |
| 0:27.0 | And today we have real estate expert and investor Pace Morby, |
| 0:32.0 | and I think you're going to find this conversation very interesting. |
| 0:34.3 | We talk about very creative and innovative ways for people to invest in real estate, |
| 0:41.6 | to pay less tax, to end up with more assets to end up with more cash flow very very efficiently very legally here in the United States, we talk about everything. |
| 0:53.2 | And I ask basically every amateur question there is to ask |
| 0:57.1 | because I am an amateur and he is a professional. |
| 1:00.2 | I think by the end, you'll at least have a better idea of what this whole real estate thing is and how you can focus on whatever you're doing to create more cash flow for yourself and still benefit from the real estate without having to become a super |
| 1:15.6 | ninja like Pace is. So with no further ado, let's jump right into my conversation with real estate expert, Pace Morby. |
| 1:24.8 | Pace Morby, how you doing? |
| 1:26.8 | I'm amazing. |
| 1:27.8 | Thank you for having me in your house. |
| 1:28.8 | This is unbelievable. |
| 1:29.8 | I'm glad you're here. |
| 1:31.2 | This has been a long time coming we've been we've been like circling each |
... |
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