Buy A Multi-Family With No Money Down

Рет қаралды 42,608

2 жыл бұрын

Can you buy a multi-family with no money down? In short…of course you can! In this video, I talk about how we acquired a $3 million dollar multi-family property in San Angelo Texas that actually cash flows about $10,000 a month! See the full income breakdown in this quick video to see how you can buy properties with no cash, no credit, and no credentials.
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❎ I am not a CPA, attorney, insurance, contractor, lender, or financial advisor. The content in these videos shall not be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself. This is a KZfaq video for entertainment purposes ONLY ❎

Пікірлер: 181

@hiirokesnowfallen9913 Жыл бұрын

Wish you'd do more videos EXACTLY like this when dropping your info bombs. It's straight forward, easy to understand and there's zero deviation from the topic. I understand creative Financing 50x better from this video than I did from the 1hr or 25hr zoom call covering it. Please, please make more videos just like this! Thank you again Pace for being such a valuable human!

@joecoates8190 Жыл бұрын

Exactly! Zero deviation from the topic!!!

@TheRealJessicaChanel Жыл бұрын

Loved this too!

@macjusss 2 жыл бұрын

Great vide! Conceptually, consider what it cost you on a monthly basis and not what you pay for the property. If you arrive at those same numbers monthly, you could pay 4m for the property and still be a good deal.

@pro2a785 Жыл бұрын

Awesome Video Definitely straight forward! Love both of your teaching for formats, however, Fast Furious is awesome and Funny!

@synickanash5380 Жыл бұрын

Pace your daughter is adorable! You are the man... The value you provide is amazing

@user-xu9xl5jq1f Жыл бұрын

I like HOW you explain and break down things. 👍

@masonmagness2121 Жыл бұрын

I live in San Angelo. Hope to see you doing more deals here and continuing to bring your knowledge & experience to our community!

@wild3103 2 жыл бұрын

Great video love the mechanics behind these deals .

@PaceMorby 2 жыл бұрын

Wil. I might make a video about it or discuss it on one of my Sunday Service episodes. This week we're doing a Q&A session. kzfaq.info/get/bejne/i8Wgosafp8CpgKs.html

@josecasillas7769 10 ай бұрын

Pace!! You are Fkn Hilarious!! I am so in tune to the way you so easily massage the brains of sellers and of deals so your goal of picking up nice properties is met. I have learned of your trajectory as a business person, investor, real estate “procurer” and mega-entrepreneur. I see you and I get you. Thanks

@thegrone595 Жыл бұрын

Sheeeeeeesh!!!! 🔥 AMAZING - love all of your content man!

@cindybrunshwiler8513 2 жыл бұрын

Amazing deal and Thank you, Pace, for taking the time to explain the terms, the benefits to both the seller and the buyer and the monthly expenses/revenue

@PaceMorby 2 жыл бұрын

You're welcome Cindy!

@PhoenixRising82672 Жыл бұрын

@@PaceMorbyIf there's seller financing and the seller is using a real estate agent is earnest money still involved

@HARZCARZ Жыл бұрын

I got the chills from this video! I feel wealthy already! Thanks Pace! Cya in Temecula!

@CarolWhitaker Жыл бұрын

Thank you! You seriously rock!!!

@MichaelBlazicek 15 күн бұрын

Great video

@rae08 2 жыл бұрын

Amazing! Thank you so much!

@PaceMorby 2 жыл бұрын

You're very welcome!

@brandonmix Жыл бұрын

A little late to the game with this video. But man oh man...I just LOVE creative financing. What a great deal Pace and congrats on yet another acquisition. But I do want to give everyone some exact numbers for all those that want to know. For the $3mm loan at 4% interest over 50 years, the monthly payment will be: $11,571.21/mo. The seller will have sold that property for $6,942,726.41!! Or to look at it a little differently, the seller (and his heirs) will receive $3,942,726.41 in interest payments over the next 50 years. So for everyone wondering, "Why would the seller sell this property with $0 down and at just 4% for 50 years?" Well, I think you know the answer. 😁

@LifeisLEISURE Жыл бұрын

That’s interesting. How much does Pace and his family make over the same 50 years if it works like that? Honest question because I’m trying to understand how this can get me out the ghetto

@philliplebron1210 Жыл бұрын

@brandon mix For terms that are set up similar to this one in which the seller is expecting the deal to outlive them do the terms change once the original owner passes away?

@Hawksforever99 Жыл бұрын

@@LifeisLEISURE43 units times rent rate in San Angelo (no idea what they are currently) but let's say they'd $1,000/month just for easy math. San Angelo isn't exactly an Air BNB hot spot, but who knows - he might be able to do like a Pad Split type thing...where each unit can average like 5 people and you charge $4-500/room rented...or just the $1,000 per apartment for a family. I can see Pad Split being a real possibility there. You have 2 colleges and an AF base. The airmen want to live off post, but roommate living is no big deal - they did it in school or it's no different than barracks living...so minimum $1,000/unit up to $2,000 if Pad Split...times 43. I'm pretty sure this is why it seems like EVERYONE wants to do multi family housing. But Pace also cautions against this...that you need to cut your teeth in single family...less people involved = less potential for headaches! Still LOTS of potential to make GOOD money and build long term wealth!

@JoeBurden Жыл бұрын

@@LifeisLEISURE The deal profited 10k a month to Pace. 120k x 50 years

@rlkinnard Ай бұрын

i don't know why not charge market interest. Whatever he gained in price; he lost more on interest.

@jeffcarter2446 2 жыл бұрын

Hi Pace...what did the wholesaler end up making!! GREAT VIDEO AND CONTENT AS ALWAYS

@rafaelramirez7576 Жыл бұрын

how would the exit plan work if in 10 years you decide to "sell" these units? are you able to sell the unites if you are doing Seller financing?

@curtisharvey6615 Жыл бұрын

Great video. I need 5 of these. I am pulling a list tommorow.

@PaceMorby Жыл бұрын

Curtis. I have over 39 videos similar to this in The Real Deal playlist. kzfaq.info/sun/PL2Y6uEs9DYr1eHOhB3dVHiYRmPJ-3VjxA

@IAMK1NGB 2 жыл бұрын

This very powerful information Once again

@PaceMorby 2 жыл бұрын

Brycen. Glad to know you gained great value from this!

@danielparadaofficial 2 жыл бұрын

Great Video! Would like to see if there was a promissory note or how deal got structured for title. Thanks Pace!

@PaceMorby 2 жыл бұрын

Daniel. Thank you. I might talk about the details of this deal in one of my Sunday Service episodes. Make sure you're subscribed and have the notification bell on! In the meantime, here's another video about this 43 unit multi-family. kzfaq.info/get/bejne/o9Vmo6iktsCZlZc.html

@DatSure Жыл бұрын

I love the videos, thank you for sharing. I've watched many of them now and one thing I'd like to see that isn't shown is the end results. For example, can you post a video now (that it has been a few months) showing us the actual financial statements? Show us actual income, maint., loan payments, etc. so we can see how it has worked out for you after this amount of time.

@PaceMorby Жыл бұрын

Thanks for the suggestion! We're definitely looking into doing this in the near future. Make sure you're subscribed and have the notification bell on so you don't miss if these videos come out!

@stevenw373 2 жыл бұрын

Really good vid. Thx bro

@PaceMorby 2 жыл бұрын

Steven. Glad you liked it bro!

@carmenlohncota9527 2 жыл бұрын

Wow!! That’s so fantastic! It’s a win win for seller and buyer! ✌️

@PaceMorby 2 жыл бұрын

Carmen. Yes. Also, thanks for subbing!

@bnbsuccessteam Жыл бұрын

Great video! How much was your total investment including inspections and closing costs?

@justingordon2293 Жыл бұрын

You did that bro 👏🏿 🙌🏿

@BigCheebo 2 жыл бұрын

Awesome job man

@PaceMorby 2 жыл бұрын

Thank you! Cheers!

@devonjohnson1983 6 ай бұрын

Dope information…. Hat 🔥

@PaceMorby 6 ай бұрын

Thank you bro!

@zacharywatson6742 2 жыл бұрын

Thanks for breaking down this deal Pace! Would you ever refinance a deal like this? What would happen to the seller at that point.. do they get taxed on the remainder?

@PaceMorby 2 жыл бұрын

Hey Zachary! Great questions bro. I might make a video soon that answers your questions. Make sure you have the notification bell on. Also, thanks for being a subscriber!

@fortnite.compilations 2 жыл бұрын

I spent my first 13 yrs in America in San Angelo. Went to Edison Jr. High! Wow! That’s amazing!

@PaceMorby 2 жыл бұрын

I just brought you back home bro. The community there is awesome!

@dannymelendez1690 2 жыл бұрын

Always a huge plus when it’s a landlord friendly state!

@PaceMorby 2 жыл бұрын

Definitely! 🙌

@stevenkyler4937 Жыл бұрын

What about the employees you will have to staff? Cap ex and employees pay maintenance maint supplies and leasing agents that are typically full time in a apartment?

@charlescarter9508 Жыл бұрын

I could cry watching this!

@beybeatruths Жыл бұрын

WOW YOU EXPLAINED THIS TO ME WELL. LOl.. There is a condemned property in my neighborhood and the seller wants 2M for the property and it needs a bunch of work/ fire damage it needs new everything. but it could be 2 or 4 units with 8 bedrooms. Great location do you think creative financing will work for this deal?

@sammyprieto8850 2 жыл бұрын

Wow. San Angelo. That’s where I started wholesaling 3 1/2 years ago. Amazing deal!!

@PaceMorby 2 жыл бұрын

San Angelo is amazing. Thank you Sammy!

@23Boarder10 Жыл бұрын

How do you overcome the objection of mismanagement? Some sellers on the tail end of their career are nervous of you mismanaging their asset, not making payments, now they're back to square one with a much more distressed property.

@C.Alejandro Жыл бұрын

Ok I understand what you explained…. BUT once the sellers says yes… How’ do you structure this on paper? Can I get the NFT for you the property you got on live in May?? 🙏🏼🙏🏼🔥

@KatrellSmith 9 ай бұрын

the seller gave you a amazin deal. no money down @ 4% is very rare. you must be able to talk a cat off a fish wagon.

@Shemsizedek Жыл бұрын

How do we send you deals Pace? I have seller finance deal that I need your assistance with.

@andynu5064 21 күн бұрын

Hi do you know of any banks that will allow an owner carry second position?

@RealestateByMoe Жыл бұрын

Golden nuggets!!!

@PaceMorby Жыл бұрын

Wow, THANK YOU!!!

@Drmikebuyshomes 2 жыл бұрын

Pace great video. Was the property free and clear???

@PaceMorby Жыл бұрын

Mike. No, I took this over subject to. Thanks for subbing bro!

@jklm5219 Жыл бұрын

Back from Dallas we here

@jayvionstevens1226 Жыл бұрын

Pace you thank you so much for the video brotha!! I actually have a multi family opportunity direct to seller 5 apartments bundle in Toledo, OH. What’s the best way to get ahold of you to discuss this?

@PaceMorby Жыл бұрын

Hey Javion! Thanks for sharing this opportunity with me, however I currently don't invest in Ohio. Why don't you post this on the free Facebook group so my Ohio students can take a look at it? paceapproves.com/communityytc

@pirytreasuresales4737 2 жыл бұрын

"more money better term for the buyer!!" ✔️

@kamronengler 10 ай бұрын

@pacemorby Can you do subject to on multifamily?

@PaceMorby 10 ай бұрын

Yes!

@cslaton921 Жыл бұрын

I am looking to do this in a couple of months.

@PaceMorby Жыл бұрын

That's great, Sandy! If you need help structuring the deal, reach out to my community on the free Facebook group. Join now! paceapproves.com/communityytc

@susanloy8846 2 жыл бұрын

I wanna be like Pace ❤️🙏

@Deem14 2 ай бұрын

After this contract is executed, what's next? Do I contact the current property management?

@juniorrenella1191 Жыл бұрын

Hello I would love to do this do I need a license or degree for this

@michaeljameson920 Жыл бұрын

Can I do this with a Marina 🤔? Looking at a marina for sell, price isn’t listed but there’s a total of 210 boat slips and he’s selling 187 to include the “lighthouse” not a (lighthouse just a fancy building) where they host wedding and party venues. They didn’t include the income / cost spreadsheet so I just assume the average boat slip cost is $320 a month. Nearly 60k per month in revenue and it’s a Fee simple property (which I don’t really understand but apparently is good) assuming running costs are less than $20k/m and loan payments are less than $20k.. that’s $20k net. Idk if I’m legally allowed to skip around the brokers or not, but I’d much rather talk to the owner and see what I could do.

@jorgecaicedo1982 8 ай бұрын

So you're paying both principle and interest then, correct? Because, correct me if I'm wrong, if it's interest only, there would be a balloon at the end of the term..unless I missed something, how can there be no balloon?

@tinarook6707 5 ай бұрын

Wow! Win/Win

@PaceMorby 5 ай бұрын

Yessss

@user-ib9ru4ls3r 10 ай бұрын

what percentage of those 43 units are occupied?

@GabeKlein770 3 ай бұрын

Pace, I was just on costar and saw this building has not traded since 2017 and is currently listed for sale. Did you actually buy this or was this just a case study?

@mikevinitsky8506 Ай бұрын

please list exactly what the seller saves by dealing with a buyer without banks and brokers, ie broker commissions, taxes, etc

@CarlosPerez-ut5ze Жыл бұрын

Had to give a like at :17

@NicolasReyes3 Жыл бұрын

How does creative finance works? How can I have a wholesaler that brings me this kinds of deals. It’s just beautiful. I wish I could do that. I feel like I need to do this right now. I’m done working I have 250k sitting in my bank because I don’t know anything I lack of information. I need to know more about creative financials. How can I bring that up? How can I do that paperwork by myself? A lot of questions

@tenminutetravelbreak Жыл бұрын

I was stationed there in the military, big training base there. Good area, college/military town, should be OK.

@richardqc9772 Жыл бұрын

Great video. Is there any exit strategy to this? I'm assuming that's interest only payments and no principle pay down? Will you ever refinance, if it's worth 4.5mil one day with a lower interest rate? How do you get full ownership onto your self of llc eventually or is that not even a consideration. Hope to hear back.

@PaceMorby Жыл бұрын

Richard. Great questions. I plan to keep this as a rental.

@NathanGrayW Жыл бұрын

No, $3M over 50yrs at 4% interest with $0 down is $11,571.21 That's principle and interest. They probably negotiated some sort of prepayment penalty since the seller obviously wants long term residual money rather than a lump sum.

@justinigoe2969 Жыл бұрын

Great deal but you didn't mention how much your closing costs were.

@adrianmol7698 Жыл бұрын

I lived in the Grand Rapids Michigan and I know there is a big difference in the everything in Michigan. How can I know what you are saying is not for bidden in the Michigan (illegal), if not~ how do I get started on buying an apartment building? 🎉

@philliplebron1210 Жыл бұрын

@Rest and Relaxation Sounds why do you say to start with single family ?

@jim9539 10 ай бұрын

PACE HOW can we work with you on multifamily?

@AshesofResilience Жыл бұрын

well damn. i should of brough you one of my seller finance deals... i might try that with a seller. im horrible at figuring out terms

@CopoeiraBernardo Жыл бұрын

Pace, I have to ask. I’m super green to this business, virtually no experience though I’ve been in sales all my life now doing decent in Solar. I want to invest in taking a course and start hunt for real estate deals. Do you have a training program for sale or recommend any one personally? Also I’m in TX

@PaceMorby Жыл бұрын

Yes, absolutely! You may join us and squad up with the team! paceapproves.com/communityfbc

@ashleydepeazer7587 3 ай бұрын

I want to do this

@PaceMorby 2 ай бұрын

What's stopping you? Squad up in the free FB group ✌🏼 paceapproves.com/freefb-ytc

@dcsking9042 2 жыл бұрын

Pace is Bad azzz ! I must admit

@PaceMorby 2 жыл бұрын

Thanks bro!!

@dcsking9042 2 жыл бұрын

@@PaceMorby your welcome Brother

@emileeid3127 Ай бұрын

Who pays for closing cost in this situation?

@jorgepolo9901 2 жыл бұрын

It’s Morbin’ Time

@wyha7 2 жыл бұрын

Pace, how much did you pay the wholesaler that brought you the lead?

@PaceMorby 2 жыл бұрын

I might do a video where I specifically talk about the details of this deal. Stay tuned and tap the notification bell!

@YarikDidenko 7 ай бұрын

$3m purchase price with $30k gross monthly rents would at 6% cap rate. Mfh have a 50% expense ratio, between managment, taxes, insurance, maintenance, turnover etc… After $11k to seller, Pace would clear $4k per month, still great deal at 0 down, Infiniti’s money.

@shazadster Жыл бұрын

Pace what if you sell to him for $5,000,000 but 0% interest? Is that ok?

@_BenjaminManuel Жыл бұрын

Mind Explosion

@thejeremymateo 2 жыл бұрын

"Sellers arent broke.... Like you...." damn Pace didn't have to do me like that .... :( LMFAO

@PaceMorby 2 жыл бұрын

😆

@realityrealestate5755 9 күн бұрын

Usually the escrow deposit might be😂 high for a multi family building even if you got it for $0 So how do you around that escrow deposit money ?

@PaceMorby 8 күн бұрын

It's all in how you structure it

@realityrealestate5755 8 күн бұрын

Then how do you structure it !@@PaceMorby

@denise2618 Жыл бұрын

Who paid the closing costs?

@atlienrac625 4 ай бұрын

So the wholesaler just made you in the the sales man millionaires he gone get 5 mill or less because it will continue to go to his kids and their kids till the 50 years are up and by then you and your kids will have profited about 6mill and in the end your kids could even sale the property or do it all over in their generation. God I prey I could get a deal like this I will quit my 9-5 and do this for the rest of my life.

@garffthejeweler2323 Жыл бұрын

🔥🔥🔥

@rakishthoughts7377 2 жыл бұрын

I’m curious to know more about the tax benefits to the seller in this deal. I have an idea, but I was hoping someone could explain them in case I missed some.

@emsroks 2 жыл бұрын

I’m assuming it’s because they don’t get paid all at once. Cash would be a liability to the seller because they would have to 1031exchange to get rid of the money or they’ll get taxed and this way they can still cash flow from the property without owning it just by holding the note.

@rakishthoughts7377 2 жыл бұрын

@@emsroks So in this case the only thing taxable is the total of loan payments received?

@emsroks 2 жыл бұрын

@@rakishthoughts7377 yes but since it’s a loan the seller can state that in his taxes it’s not true net income because he has loaned out the money.

@philliplebron1210 Жыл бұрын

@@emsroks are both the seller and buyer able to take advantage of this when it comes to taxes? Would the IRS see it as double dipping?

@menolara17 Жыл бұрын

Cool 😎

@abieshamosh-tg3vq Жыл бұрын

Can you explain how you got to $11k monthly payments ? Over 50 years that’s $6.6M

@bigballz32 6 ай бұрын

His math is way off, or he's simply not telling us all the pieces of info. Pace paid a very high multiple to be stuck for 50 years, suppose he wants to exit within the next 5 or 10 years he would break even or even lose money on the deal because you have to pay that guy like 6 million dollars

@hatchetwarrior1240 8 күн бұрын

That's cool but how do you find property owners looking to sell

@PaceMorby 7 күн бұрын

Crexi.com, landwatch.com, loopnet, etc. for multifamily

@hatchetwarrior1240 7 күн бұрын

@@PaceMorby yea but those are on market

@RDFaust1 Жыл бұрын

Great information and video. I'd love to see how the contract was structured. Also, wouldn't this only be viable if the owner owned the property outright with no liens on it?

@juliansanchezbiz Жыл бұрын

That is correct

@philliplebron1210 Жыл бұрын

What type of liens could they have?

@donaldmorckel1684 2 жыл бұрын

THE PACE MAN

@PaceMorby 2 жыл бұрын

Donald. Thank you!

@user-nj8ud2kv5h 4 ай бұрын

Who pays for the deal ? Who pays the seller? How did you pay the 3 million?

@MarkCoxInvesting Жыл бұрын

Can i fine deals for you and just get a small piece of equity in the deal with you? Getting into real estate been investing in the stock market for 8 years

@jorgecaicedo1982 8 ай бұрын

It would've been great if these videos would have been around when I tried to purchase 60-plex with seller financing and the owner basically laughed at me

@PaceMorby 8 ай бұрын

Seller financing is awesome for multifamily!

@Ascension_iq 2 жыл бұрын

🔥🔥🔥🔥

@musicaluxito Жыл бұрын

Help!!! If he paya 11000 monthly, it ended up around 6 million, but he said 5 million, how it works?

@gemechannel2899 Жыл бұрын

Actually 6.6 million

@jearomanis 2 жыл бұрын

🔥

@isaactrujillo2022 Жыл бұрын

"Slow Clap" ....

@squirrelatwork Жыл бұрын

Is he going to live another 30-50 years to collect the extra 2mil?

@shayladuke3382 Жыл бұрын

Why is the rental revenue so low? I make between $30-$50k/year on ONE unit!!

@RealestateByMoe Жыл бұрын

He was referring to making 30K in rent per month not per year.

@129328 2 жыл бұрын

🐐🐐🐐🐐

@PaceMorby 2 жыл бұрын

Thanks Brandon!

@panagiotissherepeklis1389 Жыл бұрын

My question is why the seller won't go and rent the properties for 30k a month and he is willing to sell it with a 10k monthly instalment? Cause in 50 years he would have made much more from the offer he accepted plus the value of the house in 50 years will be much higher than the price he accepted

@coopzcustomz693 11 ай бұрын

Zero liability. Zero work. The only liability is Pace and with Paces team, background and knowledge, the dude just cashed in on a risk free, truly passive income that can double as a tax haven.

@givemedrums83 Жыл бұрын

I don't understand for one second why he would sell to you and take a loss on the payments, per month. You now get the $30k/mo instead of him, and now he only gets $11k/mo. Why, if he is a smart investor and setting his family up for the future, not just hire a property maintenance company (which he probably already has)? How is it smart for him to take a monthly loss of $19,000??? That does not make any sense from an investment perspective and I'd like to understand how this deal even came to fruition...

@baumrealestate 2 жыл бұрын

Something doesn't add up. Why take a 50 year at 11k/m. If this guy is so savy he can do a lot better than 4% annually. 2.85m VS 3m is negligible over that term. Even when including the 300k in fees. Also if you want to avoid taxes he has a year to reinvest back into another property. Lastly, if this investment grosses 30k/m and the operating expenses are only 9k, I'm sure he can pay someone alot less than 21k a month to handle all the headaches like trash and toilets (which in sure a savy investor isn't handling himself). So why leave all the cash flow on the table and not get a lump sum. He could get a higher total return monthly simply investing 1.5-2m (after taxes on sale) in an EFT. This deal needs a lot more explanation. If there are as many of these deals out there as you say. Why share them with us. Just scoop them all for yourself. You literally have no skin in the game if the investment goes bust the original seller takes it back and you lost nothing.

@PaceMorby 2 жыл бұрын

Hey Jayson! I appreciate you coming in here and sharing your insight. I might make another video explaining more details about this deal.

@baumrealestate 2 жыл бұрын

@@PaceMorby please do. I need to hear more as the math doesn't make sense to me.