How He Bought 4 Duplexes With No Money Down | Seller Finance
Рет қаралды 8,830
Күн бұрынIn today’s video, Pace Morby sits down with SubTo student, Jake Cross, to discuss how he bought four duplexes at 0% seller finance. They discuss how Jake’s background led him to pursuing real estate and how each party in the transaction benefitted even though Jake bought this deal with no money down. There are a lot of golden nuggets in this interview that everyone can glean from. If you’re a private money lender, someone who has a lead that needs help, or even a contractor or property manager looking to help Jake with his properties, reach out to him today!
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Chapters:
0:00 - Intro
1:51 - Jake’s background
4:10 - Get used to hearing “No”
9:37 - What was the turning point?
13:42 - Jake’s deal breakdown
23:49 - Terms/numbers on the deal
27:06 - What are tenants paying?
28:15 - Payment to the seller
29:22 - Cashflow
30:48 - The private money lender
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⚠️ #CreativeFinance #Investing #Wealth #RealEstateInvesting #Wholesaling #SubjectTo #HowToGetStartedInRealEstate ⚠️
🚧🚧🚧 DISCLAIMER 🚧🚧🚧
❎ 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as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other and may be outdated or inaccurate; it is your responsibility to verify all information yourself.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 ❎
@PaceMorby 7 ай бұрын
What is Seller Finance? Creative Real Estate Explained here: kzfaq.info/get/bejne/bKyIdNOClt-We3k.html
@JakeDCross 7 ай бұрын
Pace had a great time talking with you! Thanks for having me!
@PaceMorby 7 ай бұрын
Thank YOU bro. Appreciate you🙏
@theyknow1387 6 ай бұрын
Hey Jake I would love to link up bro
@jbadkins 7 ай бұрын
Burg was mostly inspired by Germany settlers; reference to castle or fortified fortress
@motishorhaham9105 7 ай бұрын
Very nice deal! Congrats! Thanks for sharing. Every video Pace produces gives you insight and knowledge. It's amazing content.
@PaceMorby 7 ай бұрын
Thanks! Glad you enjoyed and got some value 💪
@zacharywatson6742 7 ай бұрын
Amazing deal, thanks for sharing Pace! So much value
@PaceMorby 7 ай бұрын
Thanks Zach!
@robertleparulo672 7 ай бұрын
Great deal!! Thanks for sharing!
@PaceMorby 7 ай бұрын
Thanks Robert!
@aaronjones975 7 ай бұрын
This is fantastic learning material, I need to meet Jake!
@PaceMorby 7 ай бұрын
Jake is awesome!
@VT-wp2ob 7 ай бұрын
my congratulations, an example of good work👏
@PaceMorby 7 ай бұрын
Yess! Jake is crushing it
@sharonkaye1 7 ай бұрын
Great job.
@PaceMorby 7 ай бұрын
💪
@marckuhnmak 7 ай бұрын
That is awesome!
@PaceMorby 7 ай бұрын
Marc! Thank you brother🙌
@baughmantwin7818 7 ай бұрын
Stare college area 👍 I’m here in York pa and helped build a new upmc as a union sheet metal worker here in central pa 🤟
@VONNYBRAVO 6 ай бұрын
Give him his 🔟s!!!!!!
@MahbuburRahman-fe3pt 17 күн бұрын
Seems like a beautiful market to be in :)
@macrayklohs3176 7 ай бұрын
What is the amortization on the note? How is the payment so low
@baughmantwin7818 5 ай бұрын
My fellow pa neither I’m south of harrisBURG lmao down in east York county . We gotta link up
@jacobdebach5253 6 ай бұрын
Love it! Pace if you have time and can help l! I sold my place to an investor subject too and he went awol and won’t make payments any way I can get it back!?
@chainsawerekson2972 7 ай бұрын
Congratulations! Well done. Thanks for bringing these great examples, love it!
@PaceMorby 7 ай бұрын
Jake is killing it🙌
@random-bs1gh 7 ай бұрын
How do you come up with the monthly payment on 0% SF ??
@drakebonilla 7 ай бұрын
30 year amortization
@AdventuresOfKeithius 7 ай бұрын
How does seller finance nullify captial gains tax?? And how did he pay the remaining principal balloon without "refinancing"???
@drakebonilla 7 ай бұрын
It lessens the effect just like selling one per year like he was advised, and you can refinance with the bank, refi with a private money lender, or sometimes the seller even gets so used to the mailbox money they end up being okay with continuing the payments and extending the balloon.
@AdventuresOfKeithius 7 ай бұрын
@@drakebonilla So you just get taxed on what you actually get paid in the year, month x 12?? Is it still 40%?? And I think dude said he wanted to have a low enough principal to be able to pay it off without refinance.. Lemme check... 22:55
@drakebonilla 7 ай бұрын
Correct it just defers the taxes that would otherwise be charged at once, which in turn makes it easier to have tax deductions offset the tax charged. And what he was referring to is he needs the principal to be low enough to go ahead and do a refinance in other words it needs to be low enough so that it appraises high enough for the loan he gets covers what’s left.
@AdventuresOfKeithius 7 ай бұрын
@@drakebonilla Ah, got it 👌🏻👌🏻 Thanks for the tips...
@lyftuberninjaworkaholic7524 7 ай бұрын
He should let guests talk. There is too many interjection to get to the material points.😂
@Therealceobran_ 7 ай бұрын
So don’t u still have to use the banks to refinance?
@drakebonilla 7 ай бұрын
Yes or private money with no bank
@michaelk906 5 ай бұрын
So an owner with a 640k paid off property getting $6400 a month in rental income …..decided to sell and accept a 64k down payment and seller finance 576k and get $1920 for 300 payments. 🤔. The seller is happy getting zero percent interest for 25 years on his investment… BUT If he took a 6% interest for 25 years…he would have earned $532,000 in interest ONLY plus his 1920 principal. So he gave that up, cuz he got slightly above market rate🤔 Moral of the story…. Find a “extraordinary not smart seller”.
@MahbuburRahman-fe3pt 17 күн бұрын
Seems like a beautiful market to be in :)
@MahbuburRahman-fe3pt 17 күн бұрын
Seems like a beautiful market to be in :)