Real Estate Investment For Dummies

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?
Do you have questions you would like me to answer in future podcasts or comments on the show you'd like to share? Email me at podcast@networkmarketingpro.com