The Titanium Vault hosted by RJ Bates III

Is Pace Morby A Closer? | The King Closer Reacts

• RJ Bates III and Pace Morby • Episode 372

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If you’re new to my channel my name is RJ Bates III. Myself and my partner Cassi DeHaas are the founders of Titanium Investments.

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Speaker 1:

What's up everybody? Rjbase the 3rd here and welcome to my newest series, the King Closer Reacts. You guys responded so much to my Jerry Norton exposing me reaction video that I'm excited because now I am going to be doing my reactions to other people closing deals. It's a little bit less stressful than watching Jerry Norton nitpick me as a closer. Shout out to Jerry that was a great video, appreciate it, brother.

Speaker 1:

And as I was thinking about who should I react to first, who does everyone talk about being a great closer first, who does everyone talk about being a great closer? And there's nobody else that gets talked about more in the real estate investing industry than Pace Morby. And here's the thing, guys I have never seen Pace Morby close a deal before. I'm not saying that he hasn't closed deals. Close a deal before I'm not saying that he hasn't closed deals, it's just, realistically, I don't consume a lot of other people's content, so I've never actually watched Pace Morby talk to a seller before. Until right now, this very minute, I have not watched this video. This is going to be pure, unadulterated my reaction to Pace Morby closing a deal. Well, we think we closed the deal. I'm basing that purely off of the thumbnail and the title that he closes this deal. So I'm excited to see Pace's style, what he does well, what I think maybe not, we'll see.

Speaker 1:

I love Pace. He's a good friend of mine. He's a titan in the industry. I watched him speak at Family Mastermind and his speech moved me as a content creator, as an educator in this space. So I'm looking forward to the opportunity to get him to react to his video here. Let's see what Pace brings to the table. Let's get this pulled up. Let's get it started.

Speaker 2:

Every time I talk to somebody I'm like, okay, I could wholesale that deal, I could fix and flip that deal, I could partner with you on that deal. I could bring money to you from somebody else and get paid on that fee. I could take over the payments. I could turn that in. I literally can make money any which way in real estate because I understand all the strategies.

Speaker 1:

So I have to say, right out of the gates, I love Pace for what he just said, because he's right, he can do all those things. I will say one of the things that I kind of differentiate myself with Pace a little bit is is, I feel like, don't chase the shiny objects and try to be Pace Morby. Him saying he could do all those things doesn't necessarily mean that you should try to do all those things. Just obviously I preach about the hedgehog concept a lot. So just right out of the gates, there's a little bit of a difference between me and Pace.

Speaker 2:

Hey guys, eric and I are out driving making YouTube content at Properties For you, answering questions that come up in the comments. So if you guys ever have questions about anything, we answer the comments and we make videos about it. But I've got a seller that just sent me an email. Yes, I'm driving and emailing Vina. I know it's a thing.

Speaker 1:

Okay, first of all, driving and emailing is not a thing, pace, we all love you. Hey, for all of you Sub2 fanatics that are watching this video, I need you to send a comment. Write in the comments Pace, stop emailing and driving. Okay, brother, we love you. We don't want something crazy to happen. Listen, if you're that damn busy, hire someone to drive your ass around so you can email while they're driving you from property to property. Okay, I don't want to hear about you getting in a car wreck because you're responding to a seller email, which also, by the way, a seller email. What is this? I need to figure out how he's getting sellers to email him.

Speaker 2:

That's pretty damn cool my seatbelt's on. Hey, how are you? My name is blank and I'm reaching out to you because I have a deal in Orlando, florida, that needs a creative solution. I'm not sure if you can help or not, but really would love to talk to you about it. My number is this. So let's call and let's see if we can get ahold of somebody. I don't know how people get my email, to be honest.

Speaker 1:

Your face doesn't even know how they got his email. I love it. That's funny, do I give?

Speaker 2:

it away A lot. I give it away a lot. Apparently there you go. G give it away a lot. Apparently there you go, gives it away.

Speaker 4:

You want my help, but you won't answer the phone all the time, the google subscriber you have called is not available oh my gosh, hi.

Speaker 2:

Whoever this is with a google number, just use your real phone number. Why are you making?

Speaker 1:

me calling Google numbers. I'm right there with you, bates. I hate it more than anything Inbound lead Google phone number. It screams you're a wholesaler first and foremost. It also screams that you don't actually want to sell your property because you're not even giving us a real phone number. It drives me crazy too.

Speaker 2:

How dumb is that that people do that? You're emailing my personal email and you're like call me and you're making me call you on a freaking Google number.

Speaker 1:

Imagine that you literally went out and found Pace Morby's email and Pace Morby is calling you from his cell phone. That's his cell phone right there, and you wouldn't even give him your cell phone number. Insanity, are you dumb?

Speaker 2:

yes, get rid of google numbers guys. It's stupid, like how is that set up? Is it set up as like a proxy on your phone so it comes through and it's like a google somebody calling you on your Google phone Like are you that popular that you have to have more than one phone number? I don't get it.

Speaker 1:

Are you more popular than Pace Morby? The answer is no, you're definitely not.

Speaker 2:

Somebody tell me in the comments why do y'all have Google numbers Like legit and is it an android thing?

Speaker 1:

do android people oh well, hold on, why? Why are you attacking androids? No, it's not an android thing.

Speaker 2:

Don't go after us android users well, just like your phone doesn't work, so you got to get google to do it bro.

Speaker 1:

Okay, I'm sorry. I know this is supposed to be my reaction to you closing, but you're the one bringing up androids. Our phones work all the time. It's the iphones that don't work when they're trying to text an android user. When you're trying to add or delete someone from a group chat, our text bubbles are always the same colors. Y'all's are the ones that aren't.

Speaker 2:

All right. Well, there's the end of the video.

Speaker 4:

Hello, oh yes, this is the owner. I have received a call from you.

Speaker 2:

Yeah, this is Pace. You sent me an email. Hi, Pace.

Speaker 4:

Yeah, this is the owner. I have a property in Orlando. I wanted to see if you were actually interested in. Okay, Are you the owner or are you the agent? No, I'm not the owner. I'm actually trying to like. I told her about a creative financing because she just bought this property a couple months ago.

Speaker 1:

So AKA, what she just said there when she stumbled and bumbled was I'm not the owner and I don't want to just blatantly say I'm wholesaling and I locked it up too high. So I know I'm going to call the creative finance king and hopefully he can call the seller and actually get creative terms. Don't be this wholesaler. Uh, don't be this wholesaler. Wholesaler, your job is to find equity and cashflow for your end buyers not call the end buyers and ask them to do your job.

Speaker 2:

Okay, got it. So you're the whole. You're a wholesaler, right? Okay, got it. So what's the situation? She has no equity and she wants to sell.

Speaker 4:

Yes, she bought it in July.

Speaker 2:

Okay, she bought in july, which means she got a really bad interest rate. She probably has a six or seven percent interest rate, right I'm?

Speaker 4:

not sure. I didn't even go into detail about it.

Speaker 1:

uh, miss wholesaler, did you do anything for pace, or did you literally just think I didn't do my job? So I'm gonna Pace and ask him to do everything for me. Come on, be better, okay.

Speaker 4:

Is that possible? I could call her. You could just give me the questions to ask her. I mean yeah.

Speaker 2:

I would like to know why you think it's a good creative finance thing. And then we can start from there and I'll ask you a couple of questions, and I'm happy to get on the phone with her if you need to as well.

Speaker 1:

What he just said there in my language is we need to determine what the exit strategy is first, so then we can determine why we're doing a creative acquisition strategy. That's how I that's the language I use, and I believe he's probably about to follow up with some questions to determine that. Well, ok, ok.

Speaker 2:

Why did you think it was a good creative finance?

Speaker 4:

I guess because it's in Orlando, Florida I mean, I'm not really familiar with the area A three bedroom, two bath. It didn't look bad as far as like the condition.

Speaker 2:

OK.

Speaker 4:

She said it's actually moving ready. She said it's a high area for Airbnb as well. They kind of made me suspicious too, because it's like why didn't you do the?

Speaker 2:

Airbnb, you know Well, because homeowners are not real estate investors, right? So I used to think that when I was a brand new wholesaler I don't really wholesale a lot anymore. I've kind of graduated from wholesale, but you know, I still wholesale maybe once or twice a month. Graduated from wholesale, but I still wholesale maybe once or twice a month. But the biggest thing I did when I was a wholesaler is I would wonder why homeowners weren't just fixing and flipping their own houses and renting out their own houses. And the answer is because they're homeowners and they don't know anything about real estate.

Speaker 1:

And before we continue, I'm curious is that a question that you guys have? Because I've never really had that thought before. I mean, I guess I just automatically assumed like yeah, I mean, if the property got distressed, like physically distressed, while they were owning it, they're not investors, they probably don't even have the cash or the ability to remodel the house. The ability to remodel the house, Let me know in the comments if that is a question that you guys have. On wait, why aren't the homeowners just fixing and flipping their own house.

Speaker 2:

Most of them, even you. Your name is LaBuena right.

Speaker 4:

Yes, labuena, I'm sorry. I was trying to turn on my internet because I was at the library earlier.

Speaker 2:

Okay, no worries.

Speaker 4:

I've been watching your videos all this morning. I'm just trying to understand the creative.

Speaker 2:

Well, let me get to a couple things for you real fast. Can you hear me? Okay? I'm going to talk for like three straight minutes. Yeah, Okay, cool. So when I was a brand new wholesaler, I would make that assumption all the time, which is an incorrect assumption, which is the seller should be Airbnb-ing or renting it out themselves. La Buena, the reason why you're starting out in wholesale instead of starting out in buying and holding is because you probably don't have the team or the resources or the experience to go out and do Airbnb's right now, right? So why do we think homeowners have more resources, experience and team members than you do in order to go out and do an Airbnb?

Speaker 4:

I guess because they're a homeowner and I don't own a home yet.

Speaker 2:

Well, I'm telling you, homeowners are not investors. They don't know how to invest in real estate. They don't even know why they bought the house. Most homeowners don't even know. They don't care about the value, they're just like. Oh you know, my job is five minutes away. There's zero logic in most homeowners purchases. They're buying so that they're close to their church, close to their job, close to their whatever.

Speaker 1:

So I'm curious where this video is going to go, because right now he's spending quite a bit of time talking to the wholesaler and he still hasn't really gotten to why this is even worth its time. I mean, I'm curious if he's just doing this at this point for for content purposes. Um, I, I would have kind of hammered more down into what is the exit strategy. Okay, is it Airbnb only? Is there any equity? What would the cash flow look like? Has she done any research on like how much it could Airbnb for? Do we know what the monthly payments are? We're not really talking about any numbers yet. So I'm curious when are we going to get to that? Because this is more of like storytelling and educating, and we're already a couple minutes of this call. We haven't gotten anywhere. So curious where he takes this.

Speaker 2:

You asked her why she's trying to sell it's crazy because what I said?

Speaker 4:

I said well, I can't pay over what you put it. You know you bought it for you just wanted two months ago. I said did you do it for rehab? Sorry if I'm not answering the question. Um, I said sorry, did you, you know, do it for rehab? Sorry if I'm not answering the question. I said sorry, did you, you know, do it for rehab Like you're asking? I think she was asking for like $310 or something, okay, and she said, well, she painted it. It wasn't adding up to, you know, the money that she was asking for. But I'm still new to this business, like I don't even study it for like a year and a half still new to this business, like I don't even studying it for like a year and a half.

Speaker 1:

So okay, so I mean I just belief breaking moment here. Uh, a year and a half into me knowing what wholesaling was, we had already done over a million dollars in gross revenue and assignment fees. So don't think like if you've only been studying wholesaling or you've only known what wholesaling is for like a year, you should still be at this level. I think she should be further along than she is, maybe not on the creative finance side of things, but at least in wholesaling she should be further along.

Speaker 2:

Do you know what the ARV of the house is?

Speaker 4:

That's what I was confused about as well. It's a lot of rentals in that area, like a lot um. I did see one for like 342 um and it was around the same year in the same um bedrooms and baths you have to know how to comp properties.

Speaker 1:

I mean, bless her heart, she has a massive opportunity here. She's on the phone with pace morby, one that one of the titans in our industry and, uh, she's kind of stumbling and bumbling through this call. Pace is doing a pretty good job. He did find out why the sellers wanting to sell. He found out some information right, I guess we got some more of a number 310 and now she's saying maybe the air v is like 340, um, so obviously not near enough spread to be a wholesale deal and I guess the airbnb is the only exit strategy for why she thinks this should be creative. Still curious where, where pace is gonna spin this and if he eventually ends up on the phone with the actual seller.

Speaker 4:

It was a little bit bigger than the subject property, but yeah, I would say 342. Okay, it was like really fixed up.

Speaker 2:

Okay, 342 is what you see. Other comps in the area selling for that are similar to hers, right? Does she have this listed on the market with an agent?

Speaker 4:

She do have it listed. I think she said she was a, like a loan officer. That's what she said she was a loan officer.

Speaker 2:

Yeah, she probably lost her job, labuena. Why would she have lost her job? Why do I know that? I don't know, because interest rates. Interest rates have been climbing so much that a lot of loan officers have lost their jobs because they have nobody buying houses right now and getting loans from them. That'd be like Starbucks. If the price of coffee went to $50 a cup, nobody at Starbucks would have a job anymore, right? So she basically is a barista and the price of coffee went to $50. Nobody can afford buying coffee at 50 bucks, so they just fire every barista at Starbucks, right? So it's the same thing with loan officers. She probably lost her job. Is she the seller and she's the real estate agent? No, there's a lot of like really basic real estate terms that you're kind of missing the understanding on. How did you get a hold of this lady? Let's start there.

Speaker 4:

So I went through the Facebook marketplace.

Speaker 2:

Okay. Looking for a wholesale deal Okay.

Speaker 4:

I'm looking for an owner to purchase the property so I can do the wholesale thing.

Speaker 2:

Okay, so you saw her house was on Facebook marketplace. You called her. She says my property is listed and she wants $310,000, right?

Speaker 1:

I'm curious. She found it on Facebook marketplace. Most of the time when properties are listed on the MLS by a realtor, it's not posted on Facebook marketplace. I'm wondering if she's misunderstanding that it's not actually listed. It's just a FISBO. It's a for sale by owner. It's not actually listed. I think he's absolutely right in the fact that she's completely misunderstanding some very basic generic terms here.

Speaker 2:

She bought it just a couple of months ago. So, labuena, you got a lot to learn about real estate, which is a good thing. It's a promising thing. Lot to learn about real estate, which is a good thing, it's a promising thing. But every time I do a wholesale deal, the seller has a reason for selling. What is the reason for this lady selling? Did you find that out? This is the biggest problem with wholesalers is that they have no idea why they called the homeowner. They don't know why the homeowner is selling. They have literally not paid attention to anything. It's like they're like oh, you can make $10,000. So they're just calling homeowners without understanding the pain and motivation. Like am I crazy?

Speaker 1:

You're not crazy, pace, you're not crazy, but I will say, going back to how he's navigated this call so far, he's still got parts of what I consider my closers for me right. He was verifying that there's a house that wants to be sold. He verified that she's the wholesaler, he found out a price pretty quick and now he's trying to find out like hey, what is the reason why the seller wants to sell the house, which is where we ask tell me what's going on with the property. And then they tell us they're paying and their motivation. And he's trying to figure this out right now. Like what is going on? I don't know what's going on. And we're 20 minutes into the video. Pace still doesn't know what's going on and he's asking am I crazy? Because these are pretty basic, generic questions that she doesn't have the answer to and I'm quite curious as to why she even felt this was worthy of presenting to Pace.

Speaker 2:

Are you also having to practice patience?

Speaker 4:

Why was she selling? She just said she didn't really give a reason. She kind of just, kind of went around it.

Speaker 2:

Okay. So I'm going to tell you the most important thing I could tell you today Okay, every wholesale deal you do has nothing to do with the house. I'm going to say that again. You said it has nothing to do Nothing. No deal I've ever done in my it has nothing to do with it. Nothing, no deal I've ever done in my life has anything to do with the house itself. I rarely even look at comps. What I do is I ask good questions to the homeowner and I try and understand her situation. If she wants $310 and the comps are $340, it's obviously not a deal for a cash buyer, right? Cash buyer is not going to pay that. So do you want me to talk to her?

Speaker 4:

yeah, you can. She did actually. She said are you doing this yourself? And I'll just say yeah, and then yeah. So is it okay if I say um? Is it okay if I have my partner call you?

Speaker 2:

yeah, why don't you just call her? Okay is just say, hey, I've got my money. Guy on the other line, he's the guy that brings money to all my deals. He wanted to introduce himself and ask you a couple of questions.

Speaker 4:

Okay, do you need to know the address or anything?

Speaker 2:

No, I'm going to tell you again, labuena, it has nothing to do with the house. Every deal I've ever done has nothing to do with the house.

Speaker 1:

Okay, all ever done has nothing to do with the house. All right, so that's a. That's a pretty ballsy move by pace. Not even wanting to understand the address, I I thought we already got the address at some point in time, but maybe that was just my assumption in the email. Um, it's now. I'm going to be really curious how he navigates this conversation to then make it creative. Also, just side note Nation, still in that line from Cassie, does anyone else notice how damn sexy Pace's forearms are and his biceps? In this I mean the olive skin, the smooth. I mean I'm not going to lie, I just kind of want to rub Pace's forearm there a little bit Back to the close. I got you, pace. I just kind of want to rub Pace's forearm there a little bit Back to the close.

Speaker 4:

I got you babe. All right, let me call her really quick. Hold on a second.

Speaker 2:

I'm trying to say a lot of this really strongly for you guys on YouTube to pay attention to this. I don't need the address, I don't need any of that. I need to understand why is the lady selling and what is going on. That's what I need to know. That's the foundation of everything else. When a wholesaler will call me and say I've got a deal or I've got a this or I got a that, I'm like great, what's going on with the seller? Oh, I don't know. What do you mean? You don't know. Your entire job as a wholesaler is to satisfy some sort of pain going. Oh, she was dancing around the thing you were willing to email me to get me on the phone, but you never understood the underlying motivation.

Speaker 1:

That's not a problem, it just means you need to learn this. So I completely agree with what Pace is saying here. The way that I phrase that is is we have two jobs as a wholesaler One to solve a seller's problem by buying their real estate right. So the problem to Pace's point is normally not the house right, it's that they need to sell the real estate to solve another problem. And then, on the cash buyer side, the other thing that we need to provide is to our cash buyer equity and cash flow. She doesn't even understand why she's presenting this deal to Pace. She just knows that it's not going to work as a wholesale deal. So she just called the king of creative finance and luckily he was in the mood to, you know, create content and help solve this problem. This is not the way that you should be presenting deals to someone like Pace Morbido.

Speaker 2:

Have a deal. You don't have a lead. This isn't even a lead. Facts Okay, and she's hung up on me, bro, patience. You know, you got to try and remember how it was when you didn't know this stuff. You know and how you felt with like well, how's it? First off, why are you calling on facebook marketplace to get your first deal? Call on foreclosures. You know what their problem is. I know that they have a timeline they have to sell. That's where I'm starting.

Speaker 1:

If you don't know what Pace is talking about, go back and watch my how to find a deal using $0 live. I didn't go on the Facebook marketplace. And also, why are you picking a deal that has an ARV of $340,000 and she's asking $310,000? Guaranteed? On that exact same Facebook marketplace, there was a property listed for $150,000 that had a $340,000 ARV. That's the one she should have been calling on, because then she knows that they are motivated enough to sell the property on a discount. We're deal finders, not deal manufacturers.

Speaker 2:

And I know the foundational reason why they're selling, so that I now know how to negotiate. If you're trying to negotiate with somebody and you don't know the reason why they're selling, it's going to be impossible to negotiate. Oh, she tried to call me.

Speaker 1:

I block all unknown callers. Sadly, please leave your message for two. Oh my god, shit gosh guys. No way, dude, if you ever get the opportunity to do what she is doing.

Speaker 4:

This is literally do everything opposite everything here we go, hello hi sorry, so, um, this is a google number, so this is one of my numbers that I use to call people like in different states. So is there a possible? I can call you back on my regular number.

Speaker 2:

Thank God, yes, I'll give you a tip. Whoever, whatever, a wholesaler on YouTube told you to use Google numbers, fire them as a mentor. It's the do not call people on a Google number.

Speaker 1:

Facts we don't do it, never, ever do it.

Speaker 2:

When they call you back I'm kind of confused.

Speaker 4:

How did you know what was the google number?

Speaker 2:

I knew it was a google number when I called you. I called you and it said yeah, the google subscriber you have called is blah blah, blah, blah, blah okay, I apologize don't apologize. Don't apologize to me.

Speaker 4:

Okay.

Speaker 2:

Go ahead. Bye, hey you there. Yeah, I'm here. Hi, let me call her really quick. All right, cool. So you see how clumsy and chunky this is Like having to go back and forth between your Google number. Guys, you don't have enough leads going on for you to have a Google number. In fact, I've never had a Google number. I think they're stupid. I think people that use them are overthinking. Just call on your personal cell phone, don't you want people to have your personal is crazy. It's crazy to me.

Speaker 4:

I feel like I'm taking crazy pills.

Speaker 1:

Facts. Listen, we're almost 30 minutes in and we still haven't talked to the seller. This is insanity, absolute insanity. I cannot believe this is actually taking place. I'm actually just getting irritated watching. I am irritated for Pace's time being wasted. And then this also being the video that I chose to react to.

Speaker 2:

I don't want people to know my number. Why are you? Are you not trying to do business with people? No, 817-915-6860.

Speaker 1:

That's my personal cell phone number. I say it on every single live video that I ever do. I'm like Pace, do you not want people to be able to call you? It's literally the thing that we use to make money.

Speaker 5:

I'm good. I'm good, I can speak.

Speaker 3:

What's going on? Okay, great, he's on the phone now. Her name is Sharon.

Speaker 2:

Hi Sharon, how you doing.

Speaker 5:

Hi, how are you? What's your name?

Speaker 2:

My name is Pace, like pacemaker, or Pace Bacani sauce.

Speaker 5:

There you go.

Speaker 2:

Yeah, what's going on? So hey, I'm LaBuena's money guy. I bring a lot of money to people's fix and flips and buying holds and their Airbnbs and stuff. I'm just kind of the money guy to a lot of investors. And LaBuena was telling me about your house. I think you're trying to get $310,000 on the house and you just barely bought it.

Speaker 5:

Yeah.

Speaker 2:

Catch me up to speed. You bought it, but now you don't want the house.

Speaker 5:

No, the thing is I bought it to resell it. I bought it and it's been refurbished, painted inside and out, new flooring, all the trees were cut and everything the property's. Basically, I did some work on it and it's ready to go. I'm renting it or selling it.

Speaker 2:

Okay, got it. So you basically fixed and flipped it Correct. Amazing, okay, cool. So you did it cash or did you use hard money? I used hard money as well. Amazing, okay, cool. Well, I can. I like the way you say that Well, because it gives me a really good understanding.

Speaker 5:

What's your number? What's your number, please? My? What's your number? Pace, my number is Okay, so, yeah, so that's where I'm at and I'm willing, you know, like I said I told her to give me an offer. I'm willing to work for you, for her, and to see if we can reach a deal. I mean, she has a couple of alternatives in mind, but, yeah, I do have a hard money on it, okay.

Speaker 1:

Okay. So this is going to be really interesting to see how Pace spends this, because this is an investor that fixed and flipped it. She has a hard money loan on it right, so this eliminates what I would consider. It's going to eliminate the ability to buy sub two. I'm going to be curious to see where he spends this, unless it's that she needs to come down on her price to make it some sort of a cash deal. This is going to be interesting. Obviously, pace is a very creative buyer, so I'm very curious to see where he takes this next. You know a little lengthy on his talk time, but then once he asked a question you know a lot of silence just let her talk and then he validated that he heard what she said. Love, love watching that, because that's something that is extremely missed by a lot of closers, and a lot of closers also interrupt sellers to try to follow their script. He's free-flowing right here and just letting her talk.

Speaker 2:

Okay, no problem, that's perfect. So her understanding was when she called me, is that this is a good opportunity for another fix and flipper, and I'm like it doesn't sound like. It sounds like she's probably fixing, flipping herself. Like this is not an investor deal. This is a deal that a homeowner should be buying, not an investor, and if she can't sell it, she'll probably refinance it and keep it as a rental and that sounds Correct.

Speaker 5:

I'm 15 minutes from Islands of Adventure.

Speaker 2:

Oh yeah.

Speaker 5:

I have other options I can also rent Airbnb and short-term rentals and stuff, so I have alternatives there too as well.

Speaker 2:

Okay, no problem. Well, I the only reason why I purchased the property. Totally makes sense If you decide to refinance it and keep it as a long-term rental. Just remember I'm a money guy. I can always get you money, and if you're fixing and flipping, I can always give you good hard money too.

Speaker 5:

What can you do for her?

Speaker 2:

Nothing, that's not a deal. I mean, if she bought it at 310, what is she going to do with it?

Speaker 5:

Well, that's the asking price. It's negotiable.

Speaker 2:

Well, even if she bought it, let's say, let's make it up, let's say she bought it for 270. What is she going to do with it?

Speaker 1:

I love this. It's the. What do we say? We got to put a seller in one of the buckets, right. So what he's saying is is price is wrong and it doesn't sound like there's a whole lot of motivation there, because her exit is to sell it at full market value or close to full market value. So what do you do when they fall into that bucket? You walk away, pull away. And that's what he's doing right here. Is he's saying there's nothing I can do for you? I mean, sell me the property. I'm the buyer, you're the seller. I love what he is doing right here.

Speaker 2:

Right, she. I guess she could do it as a buy and hold, but there's really no skin on the bone for her to fix and flip it, so she would only have to buy and hold it.

Speaker 5:

Well, that's something that she has to determine. I don't know if she wants to do Airbnb with it, rent it short term, hold it for a year. I don't know. That's something that she has to determine.

Speaker 2:

Her primary business model is finding deals for other people like myself or my other investor buddies. So she's not going to do either. She's not going to fix and flip it and she's not going to Airbnb it. Her job is to find deals and bring them to people like me. There's really no opportunity for her on this particular deal, because you've already priced in your profit which you should have. You did the right thing and it doesn't mean we can't do business together on other houses, but I don't think there's an opportunity for us to buy anything on this house.

Speaker 5:

And what are your terms? What is your loan to value and what's your interest?

Speaker 2:

We'll do 80% loan to value with somebody brand new. For somebody that I've been doing deals with, I'll do 90% loan to value 10% interest with a dock fee of $900.

Speaker 5:

Is that across the board or is it per you just evaluate per per per deal?

Speaker 2:

I mean we evaluate per deal, but it's pretty much across the board. There's really no variance. Yeah, and then on long-term, on long-term money, I do DSCR loans, and so a DSCR loan for something like that, if you end up keeping it in your portfolio, I think rates are somewhere around like 8% right now.

Speaker 5:

On long-term money, All right and so, and how fast do you close?

Speaker 2:

If it's a fix and flip, you're going to fix and flip it. You call me. I can have money to you in three days.

Speaker 5:

Oh cool.

Speaker 2:

Yeah, I can wire money to you and you're located where I'm located all over the country, but I live in Phoenix, but I can do deals in all 50 states.

Speaker 5:

Okay, that's good to know. Well, I think I have some business for you too, because I'm in business anyway.

Speaker 2:

so I love it. Yeah, you got my cell phone number, so if you ever want to do anything together, let me know.

Speaker 5:

Okay, I'll give you a call and my name is Sharon. My name is Sharon, so I'll let you know and let's see what happens.

Speaker 2:

Okay, awesome, thank you so much. Well, pleasure meeting you, pleasure meeting you, thank you, thank you. So here's a couple of things to learn here. I just hung up.

Speaker 1:

All right. So he just completely walked away from the deal. He obviously pitched his lending terms whatever he's got there on his lending business but he literally just walked away from the deal. So I don't know that this is going to end up being a close here Interesting. We still have quite a bit to go here in the call, so let's see what happens moving forward. But I love that. I mean, it's exactly what I teach. Hey, do you want to sell? Yes, how much did you ask me? Bryce, 310. It's negotiable. He didn't even go down that path because she didn't really come back out with another number. He just walked away and she didn't chase after him. She didn't try to sell him and say, well, I could do this for 250 and then maybe they have something to talk about. Just sounded like there wasn't enough motivation by the seller.

Speaker 2:

I'm probably going to get a call from La Buena in a minute. How did I pivot that? Because I can't make money on that. The lady has already bought it, she's already fixed and flipped it. She sucked out all the meat out of the bone. Why is it not a creative finance deal? Because I don't take over hard money loans. I'm not going to take over a toxic debt. She has a toxic debt. What is a toxic debt? Toxic debt is a loan that is interest only. I don't do interest only loans. Okay.

Speaker 1:

That's what I was saying. I was curious what he was going to do, if he was going to pitch some sort of creative solution that I didn't even know about. But I felt like that this is kind of it's dead upon arrival. I mean hard money, loan flipped. She's already sucked all the meat out of the bone, like you said, and like you say it's got toxic debt just kind of took away a lot of his options.

Speaker 2:

So this lady's got like 14% interest only, that she's paying every single month and she's got it on the market for 310. And she's also saying well, that's negotiable, which means she's having a hard time selling. It's all these things that I know, because I've been in real estate a long time, that I can understand what is actually being said. Right? So what the lady saying is like oh yeah, it's negotiable, which means if she was having an easy time selling it and she was getting a lot of offers, she wouldn't have said that. She would have said dude, I've got 15 offers at 310. I'm probably going to close it down today. Right, that's not what she said. She says well, that's my asking offer and 310 is negotiable, which means she won't get 310. Okay, so if she can't get 310 and it's already been renovated, she can't even get 310.

Speaker 2:

Even if I bought it at 275, how am I going to make any money? Because I'm going to go and turn around and sell it for, let's say, 300. I'd need a whiteboard to break this down. How should I give a deal? If I was going to buy it as a fix and flip? She's already sucked out all the profit. I would probably have to buy this at like 225, because now I've got to close on it. I've got a couple months of payments, I got to go sell it, I got to pay commissions. There's so much cost that gets sucked out of a deal that's what I was saying.

Speaker 1:

Is she had said something like 250, then he probably would have continued the conversation and tried to negotiate her down. But because she wasn't even willing to throw out another number after 310, he just ended the conversation and said we have nothing to talk about. I'm not going to be your buyer.

Speaker 2:

I'd have to pay 225. Okay, well, now it's a creative deal. Well, no, it's not a creative deal, because the lady, the girl, didn't even understand that the person she's talking to was a fix and flipper. This is the primary problem with wholesalers. Now, labuena, good job, you're taking action. I'm not trying to criticize or make you feel disparaged at all. I know it seems like that because I have to be strong to people on YouTube. So you learn some of these things. Understand why the person's selling and what the story is leading up to it. It is incredibly important. The second we realized it was like immediate. The second I realized she was an investor didn't the whole entire thing change?

Speaker 1:

So if she had, if LaBlaina had followed the closers formula, this is what would have happened. Hi Sharon, I was calling about your property here in Orlando, florida, that you have listed on Facebook marketplace. Are you still looking to sell that property? I am Awesome, and you're asking $310,000? Yes, that's my asking price, but it's negotiable. It's exactly what she said to Pace, all right, well, tell me a little bit about what you got going on with it. What do you mean by that? Well, I don't know much about the property, so just tell me the story. Well, I'm fixing a flipper and I did this and I did that and I put it back on the market and I'm just looking to sell it for 310,000. She would have known all of this with three simple questions, and Pace is right Ask better questions. Ask open-ended questions is how you ask those better questions, and she would have had these answers.

Speaker 2:

Okay. So now, how did I pivot? How can I make money? Now? I can be her Gator lender. I can provide DSCR loans. I can provide fix and flip loans. That lady now will take money from me it's not even my money so I can refer hard money to her that I can white label and I can get paid on the fee of her going and taking somebody else's money. What's crazy is when you understand real estate, you can insert yourself in 25 different ways and La Buena, good for you. You're in the library, you're using free internet, you have no excuses. I love it. You got to start with. What is the seller's motivation? What are they doing? How did they get the house? Because you have to understand the landscape in order for you to change and manipulate the landscape to make money on it. So, anyway, was this helpful? I think if I watched this when I was brand new, I'd be like oh, shoot, okay. So I got to know what's going on, and you see how fast I just went straight to the ladies, like what are you doing?

Speaker 1:

So funny that Pace says this, because I told you I didn't watch his video. I thought we were going to see Pace close a deal. So we're 40 minutes in and I was seriously contemplating just scrapping the whole thing and starting over and picking a different Pace video, because I want to see Pace close a deal and we still have quite a bit of his video left, but I don't think he's going to close a deal. I'd be shocked if somehow he maybe talks to a different seller or something like that. But based on what just Pace said, I'm still going to post this video. I'm going to have to find another one where Pace actually closes a seller, and I'm going to have to find another one where Pace actually closes a seller and I'm going to have to send him a text and be like hey man, your, your title misled me. I wanted to react to Pace closing a deal, not walking away from a deal, but I I do appreciate it because it was the right move. And exactly what I say about these types of leads.

Speaker 2:

Catch me up to speed. What's going on? Why are you selling it it? Oh so you're a fixin flipper? Okay, god, yeah, I am a fixin flipper, right like?

Speaker 2:

I didn't spend any time beating around the bush, I went straight for the jugular. On every call, I go straight to the jugular, so I'll she. She asked for my cell phone number. Why? Because I'm a money guy. This is why being a gator is so powerful. Is because, dude it's, I can make money in anything. People go what should I do? Fix and flip holes, everything. Do it all every time. I money guy. This is why being a gator is so powerful. Is because, dude it's, I can make money in anything. People go what should I do? Fix and flip holes, everything do it all. Every time I talk to somebody, I'm like okay, I could wholesale that deal, I could fix and flip that deal, I could partner with you on that deal. I could bring money to you from somebody else and get paid on that fee. I could take over the payments. I could turn that in Like I literally can make money any.

Speaker 1:

I disagree a little bit there, pace. I don't think that LaBuena should be fixing and flipping. I don't think LaBuena should be trying to become a gator while she's still trying to figure out how to do hard money or wholesaling. I mean, I think there's levels to this. Pace has graduated to the PhD level and I think everyone should aspire to be there. But I am a firm believer that you should have a hedgehog concept and focus on that hedgehog concept before you try to move on to another strategy.

Speaker 4:

Hello.

Speaker 2:

Hey, was that enlightening at all.

Speaker 4:

Yeah, it was. It was just, it was some stuff. Y'all was saying I know what you're talking about.

Speaker 2:

Oh, you did, yeah, it was.

Speaker 4:

It was the stuff y'all was saying I know what you're talking about.

Speaker 2:

Oh, you did. I was just about to call you. I just got back to the library. Do you see why it's so important to understand what the seller's doing and what their motivation is?

Speaker 4:

Yeah.

Speaker 2:

So what is that seller doing?

Speaker 4:

It's like how do you? So they purchased the property, so they put a little bit of money into it. So they're basically looking for retail value right.

Speaker 2:

Yeah, they're a fix and flipper. So, number one congratulations. You're taking action and you're doing a good job. Like congratulations, you should be proud of yourself. Okay, thank you. Yeah, like everybody else in, their dog is a sissy and won't make the calls, you're doing a great job. Now I want to tell you what I did on that call real quick, just so you understand. Okay, I don't hesitate to ask people what the hell they're doing with the house. I immediately went straight for her neck. What are you doing with the house? Why are you selling it? What's going on? I found out she was a fix and flipper in less than 20 seconds.

Speaker 1:

I will also say every example of question that he just said right, there was an open-ended question. Every example of question that he just said right, there was an open-ended question, which allows him to get very thorough answers from the seller. That's vitally important because he says that earlier in his video Ask better questions. That's what enabled him to get those answers. Why does her, being a fix-in flipper?

Speaker 2:

change everything about the conversation. Well, I'll tell you. If she's a fix-in flipper, what do fix-inipper change everything about the conversation? Well, I'll tell you. If she's a fix and flipper, what do fix and flippers do to buy properties? They go get hard money loans. What are hard money loans? Hard money loans are interest only loans. So, as a creative investor, I'm not going to take over an interest only loan. That's a toxic loan. I don't want an interest only loan. Does that make sense? Okay? So the second she told me she was a fix and flipper. I knew she was using hard money because, la Buena, there's a lot of ways to make money in real estate. You don't always have to wholesale fix and flip or buy and hold. Another way to make money in real estate is be the lender. Even if somebody is not a seller, I can give her money in the future without any of my own money. Okay, I know that sounds crazy Because you have other people. The Gator method, the Gator method, you got it.

Speaker 1:

Got it. Oh man, I love Pace. Pace is a genius when it comes to marketing and branding. I mean this Gator method that he literally took a term that real estate investors, you know using other people's money for decades. And then just I don't even understand why he came up with Gator Method and the elephant challenge. I mean, just to me it looks from the outside, looking in, it just looks like he picked random animals and he thought it'd be a cool logo and he just said it's the Gator Method. I don't understand it, but he's a genius. I mean, listen to this a brand new wholesaler that's working out of the library. She knew what the Gator method was.

Speaker 2:

Okay, I can use other people's money to fund her next flip or her next rental and I get paid on that transaction. So that's why I pivoted. I was like, all right, well, I'm not going to be able to buy this house because there's no equity in the deal, so a cash deal is not going to work. You have a hard money loan, so I'm not going to buy it creatively. And you know what I can make money on a Gator loan on future deals with you. And that's why she took my cell phone. Okay, if you were a Gator and you were trained on gator, you would know how to make money with that lady for the rest of her life. That lady's going to do two, three flips a year. You should be getting paid on every one of her flips as a gator, even though you're not using any of your money to fund her fix and flips or her buy and holds.

Speaker 4:

Because I have access to capital.

Speaker 2:

You have access to capital through the gator method. That is correct.

Speaker 4:

So, even though I don't have the money, yeah, I in in the Gator.

Speaker 2:

in the Gator method. I give the Gators access to like $300 million in capital that they can go out and refer people and you get paid on the referral.

Speaker 1:

I have one student that made 10 grand just this week, Just so everybody knows you can literally just call local hard money lenders and you can get this referral. I appreciate Pace right here. I mean he's teacher of this. This is valuable insight and she could monetize this and end up making money on it. I just my concern for LaBuena is that she's going to be chasing shiny objects, where she's going to be trying to then pitch, using other people's money and being a Gator lender instead of really solely focusing on becoming a great wholesaler. She has a lot to learn here, and even he said it earlier in the call about basic term and terminology and understanding what a deal is and when a certain exit strategy then determines your acquisition strategy. I wish he would have pushed her more into educating her on how to be a better wholesaler than educating her on a different business.

Speaker 2:

In my opinion, On referring people to the money. You can do the Gator method and have people just go to a link that is your referral link. So when you talk to somebody, oh you're a fix and flipper, and they go yeah, I'm a fix and flipper Great. Are you using hard money? Yeah, I use hard money all the time Okay, great. Yeah, I use hard money all the time Okay, great. Well, I'm also a lender. I can help you out. Hopefully I can beat your rates and what's going on. Here's my link to apply for your next fix and flip. And every time they do a fix and flip and use that money, you get paid on every single time.

Speaker 1:

I'm also curious about the laws in regards to brokering money like that and how many times you can do that. That would be a concern for me. I'm sure Pace has had attorneys look at that and verify that this is okay. I've never personally tried to essentially affiliate hard money, loans or anything like that, so this is interesting to me. I'm curious about how many times you could do this in a year before essentially you're considered a broker in this.

Speaker 4:

It was in that video with you and your wife and the baby. I didn't get through all of it because I had to call her back.

Speaker 2:

Yeah, yeah.

Speaker 4:

That's probably what you was about to say in that video. I do apologize. Don't apologize don't apologize.

Speaker 2:

Okay, have confidence. You did nothing wrong. You're awesome. You did a great job. You took action. I'm super proud of you. Okay, if you ever need help in the future, let me know questions.

Speaker 4:

Um like how can I? How? Because I haven't even did my first deal yet. You know, um, I know I will, but it's like how do I make sure I do a deal?

Speaker 2:

only call foreclosures. Only call foreclosures if you've never done a deal before. Only call foreclosures or expired listings. That's it. Don't call anything else okay, who's the?

Speaker 4:

I did call a foreclosure.

Speaker 2:

No, not a foreclosure Call hundreds of foreclosures, okay, okay.

Speaker 4:

Who's the person? Is there like a certain?

Speaker 2:

Who are you learning from on YouTube besides me?

Speaker 4:

There's a lot of you guys, but I kind of I was in this program that kind of showed us how to wholesale and then get a property under contract and post it on the MLS. But I still haven't been able to do that. And then I watched Jamil a lot.

Speaker 2:

Okay, whoever taught you to go on Facebook marketplace to get a deal, as your first deal is missing the point? La Buena, the number one way to get a deal is to find a motivated seller. You already know this. So who's the most motivated person on the planet? Somebody in foreclosure. So don't waste your time doing anything else except for calling foreclosures and expired listings. That's it. Go on my wife's YouTube and type in Laura Morby expired listings and she's got a free training on expired listings. Don't waste your time calling non-motivated sellers. Call foreclosures and expired listings when you're first starting out.

Speaker 4:

Okay, so question as far as like with the foreclosures, because you know it's kind of like a sensitive subject.

Speaker 1:

It's not a sensitive subject.

Speaker 1:

I hate that theory that calling foreclosures is a sensitive subject.

Speaker 1:

I will also say this I mean I agree with what Pace is saying because at some point when you're at the level that Pace is and he talks to as many people and helps literally tens of thousands of people, if not more I mean I'm probably shortchanging him because he has hundreds of thousands of subscribers and followers across all of his different platforms.

Speaker 1:

He has to have somewhat of a templated answer to this. I would say that there are opportunities to find people that are motivated to sell that are not a foreclosure or an expired listing, and we showcased that on that video where I got a deal using $0 by literally going out and finding a distress, a physically distressed property that was listed significantly less than full market value. That property that I got under contract was not a foreclosure and it only took me less than two hours to find it. So I think there are opportunities to do it a little bit differently. I appreciate the fact that at least he's pointing her in a very generic direction and saying here you can be laser focused to do a deal by just speaking to hundreds of foreclosures. He's accurate in that, but I do think you could broaden out who you're talking to, just ignoring the Facebook marketplace aspect of it.

Speaker 4:

Will it be something to open a conversation?

Speaker 2:

Go on my YouTube channel and type in Pace Morby Foreclosure Mastery, and I've got two videos that explain that exact answer.

Speaker 4:

Okay, you said Pace Morby. Foreclosure.

Speaker 2:

Foreclosure Mastery.

Speaker 4:

All right, thank you.

Speaker 2:

I'm going to do this one more time. I'm going to tell you the tips. Number one get rid of your Google voice number. Get rid of it. Whoever taught you to do that is an idiot. You can tell them. Pace said so. Okay, then the next. The next thing is you're doing a great job taking action, but you should only this is the next thing only call people we 100% know are motivated, which would be foreclosures or expired listings.

Speaker 2:

When you call a seller, every single time, you're looking for motivation. You want to know what's going on, like they're going through a divorce. I have to move because of a job opportunity. My wife kicked me out because I was cheating on her with a girl down the street. Whatever is going on in their life, you need to know what that is before you negotiate on price. If you're asking people about their price and all of that stuff, but you don't know the motivation, you have gone too far in the conversation. You have to go back and find their motivation and what's going on? Why are you selling? Why are you in foreclosure's happening?

Speaker 1:

you're we're not so good pace. We're on the same page. Even you didn't do that pace you wanted and you're selling and you're asking 310 000 what's going on with the house? And then you found out our pain and motivation and then you pulled away. That's the king closers formula. You followed it, but now, but now you're, you're changing it where you're saying you shouldn't talk about price. But even you talked about price before. You talked about pain and motivation.

Speaker 2:

You're on the right track, you're taking action, but I'm going to tell you something this requires not one lead, not 10 leads, not 50 leads. This requires hundreds of conversations to get your first deal. Hundreds Okay, why? Because you have to learn all these terminologies and all these little nuances, and the only way to learn them is to have a lot of failed conversations. If I give you 200 leads, you would probably close two or three of them. If I took the same 200 leads, I would probably close 40 of them.

Speaker 2:

I understand every way to make money in real estate. You don't yet, and so you have to make a lot more calls, because that's what I had to do when I started a lot of calls, a lot of conversations, a lot of screw ups, a lot of nose's, a lot of hang ups in order for you to get to a level of mastery like I have. Okay, la Buena, do you know what BMX is? Bmx, yeah, like those white guys that cruise around on freaking bikes. Oh, yeah, yeah, okay. Do you think those guys jump on a bike for their first time and just do amazing tricks?

Speaker 4:

No.

Speaker 2:

Do you think? They fall like a hundred. They break their arms, they fall, they scrape their knees. They do all sorts of things for probably years before they become masters. Right, right, they don't ride a bike once a week or once a month. These guys are out there riding bikes six, seven hours a day, five days a week, for five years straight to become really good at what they do. Yeah, what I wish I could tell everybody that's jumping into real estate is that it's going to be a lot harder and it's going to require a lot more phone calls than you think it is, but that's a good thing. And the reason it's a good thing is because you get to practice, you get to make a lot of friends, you get to learn new things. And guess what? La Buena, you're doing 99% more than anybody else. Most people won't even make their first call.

Speaker 1:

He's absolutely right about everything he just said there, and I also shout out to Pace for being just one of the greatest storytellers ever. I mean, he has a gift in being able to take a concept, use an analogy, tell a story and make it simple and plain to understand. I think that is why so many people resonate with Pace on his ability to tell stories and make it stick. People want to hear good stories and it helps them retain the knowledge that he's giving.

Speaker 2:

So congratulations. Literally, you've done a great job. Thank you All. Right, I got to go. Thanks for calling You're welcome. Whoever's teaching you to use Google numbers when you're making phone calls is an idiot. You can tell them. I said that.

Speaker 1:

He's so stuck on the Google numbers and I am so right there with you, Pace I hate Google numbers with a passion.

Speaker 2:

If somebody told you to get a Google number, they're dumb, it's so worthless. If you're calling sellers and you're just by yourself, just use your phone number. You're not doing anything wrong. You're not soliciting. You're not trying to sell them anything. You're trying to help them in a situation You're not soliciting. Okay, subscribe, we work hard for you. Tell Eric that you appreciate him and that he's a good BMXer down in the comments down below.

Speaker 1:

Also subscribe to my channel, because we're working hard for you, and tell Pace how much you appreciate him for this video he made for you guys.

Speaker 2:

Buena.

Speaker 3:

Hey, Pace, I'm sorry to bother you again but I have a question. So the lady just called back for that property in Orlando. She said that she'll come down to 262. Is that even a deal for me?

Speaker 2:

Okay, so let's say you get it under contract for 262, right you assign it.

Speaker 1:

He might be a closer. Let's see if he decides to get on the phone with the seller and try to negotiate this down to that 225 number that he was talking about.

Speaker 2:

To me for 272. So you make $10,000. Let's just make it up. It's not going to happen, but let's just make it up. Okay, I don't buy it for 272 because I have to buy it for 272 plus closing costs. So I'm going to be into that property as your buyer. Probably $277,000. Okay, I go turn around and put it back on the market for $310,000. Is it going to sell for $310,000? No, okay, obviously it's not, because she couldn't sell it for $310,000, right, okay, is it going to sell for $300,000? Probably not. Okay, is it going to sell for 290? Probably not.

Speaker 2:

What about 280? Yeah, okay so.

Speaker 3:

Probably. Just looking at my prop stream in the area, it looks like the most that that property could possibly go for is 260.

Speaker 2:

Okay, the most that that property could possibly go for is $260,000. Okay, so we obviously know that there's nowhere anybody can make money on that deal, right.

Speaker 1:

I thought she was saying earlier that there was a similar property that sold for $340,000. So clearly now what she's saying is I guess she looked at the pictures of where it's existing now and, based off of its current condition, the most it can sell is 260. Jeez, that's rough right.

Speaker 2:

So this lady, I'm going to tell you the truth a lot of people that are fixing flippers, like this lady we talked about they don't know what they're doing. They watch some youtube channel. They went to a free seminar on how to flip houses and they decided I'm going to go flip a house and make it nice. This lady bought a bad deal.

Speaker 1:

I love how all of us with YouTube channels just completely shit over other people's YouTube channels. I say this all the time what did you do to watch a YouTube channel While I'm literally on my YouTube channel? It cracks me up.

Speaker 2:

We're all the same and she's in a bad situation. She now has hard money and it's costing her every single month to hold that property. So she went from 310 down to 262. She dropped her price $48,000 because we said it's not a deal for us. Right? Said, ah, it's not a deal, so she dropped her price 48 grand. Does that tell you how desperate she is? Yeah, Okay, great. So she's desperate. But even at 260, you and I can't make any money unless La Buena. The only way we could make money is if she had a good mortgage on that property, that I could just take over the mortgage. The problem is she doesn't have a good mortgage. She has hard money and I don't want hard money. It's interest only.

Speaker 1:

So he's talking about. You know she had a good mortgage, but he's also this entire video talked about being a gator lender. So what I'm curious is is why is Pace not saying, hey, let's cash out, refi you using my DSCR loans and then let me buy the property subject to the existing mortgage that I put in place for you? I'm wondering if that's where he's about to take this.

Speaker 2:

Only money she has on the house. So I don't want it. When I'm talking to a homeowner and a homeowner is in the same situation and the homeowner says will you buy it for 262? I go, yeah, I will If you let me take over your payments. And I would take over their payments because it's actually a good quality loan. Right, this lady has a hard money loan, so I don't even want to offer to take over her payments because the payments I would be taking over are interest only at like 14%. Does that make sense? Yeah, I got you.

Speaker 2:

So I would just reply back to her and just say this is not a deal for us. I'm so sorry, la Buena, here's a good idea for you. Okay, there's something called an option contract. Have you ever heard of an option contract? Okay, no, not a lease option, it's an option contract. Okay, I want you to go to Jerry Norton's YouTube channel and type in Jerry Norton option contract. Okay, what Jerry teaches is you can ask the lady hey, I don't think it's a good deal for me, but will you give me an option to send this out to my friends who buy houses and see what their offer is on the deal? So now, labuena, you can go practice sending this deal, even though it's not a deal. You can go practice sending this deal even though it's not a deal. You can go practice sending this deal to people and get their feedback so you know where somebody would actually buy it at.

Speaker 1:

So. But, pace, you're already giving her that answer, so I disagree with this right here. I would have thought that he would go hard on the Gator lending side, talk about doing a refi and then potentially like, if she's that motivated to price drop herself $48,000, she might be motivated enough. And she even talked about doing a refi, keeping the property and renting it out herself. Hey, let's get her back on the phone. Let's see if we could do a refi of your hard money. Put together a long-term solution here where I can buy the property sub two or even just getting the, the the funds from being becoming the gator on it and and just doing the refi for.

Speaker 1:

Uh, I don't like the auction contract. I definitely don't like the testing this out or getting the reps in on the disposition side. This could burn bridges with some of your buyers, right, not everyone is going to have a cameraman in front of them and be as kind and generous as Pace has been during this conversation. This could essentially stigmatize her to some of the buyers by sending out a bad deal, and that's why we always say, hey, we want to be able to send deals out where end buyers buy inside of the web. We know this doesn't fit inside the web, so I don't necessarily like where he took this. I would have preferred to see him get a little bit more creative here.

Speaker 2:

Does that make sense? Yeah, sense, yeah, okay, there you go, okay, thank you, no problem. Thank you. That sharon lady that she just talked to is actually now texting me directly trying to get me to call her. Should I call her? Yes, I don't want to go around la buena, but I also know it's not. There's no business for me to do here with her, except for being a lender. People on YouTube in the comments. Should I call Sharon the seller back or should I not? I'll wait. Just put it in the comments, I'll wait.

Speaker 1:

You should definitely call her Come on, you should become our lender.

Speaker 2:

We'll put it in the comments. I'll wait. You should definitely call her. Come on, put it in the comments. Okay, you guys said you wanted me to call her. We're calling her. Good job, hi, sharon, how you doing.

Speaker 5:

Good, good question. Okay, you told me your DSCR loans were 8%.

Speaker 2:

You said it depends on credit and stuff like that. We don't do a hard poll on your credit, but we do pull credit and I've got people getting like 6.7 percent and I've got some people getting like 8.2 percent, depending on the deal okay and uh, what about your regular loans there?

Speaker 5:

what is your credit you'll be working with there? My regular loans like long term yeah, long term, or fix and flip, or what are we doing there?

Speaker 2:

Well, I'm driving right now. Do you want to send me some addresses? I can give you some term sheets.

Speaker 5:

Okay, I'm driving too, so if you could text me your email, because I might have some deals for you.

Speaker 2:

Okay.

Speaker 5:

I'm a loan officer here in Florida. Okay, cool, I have a lot of people you know I do hard money and I have some hard money investors that I you know I give them deals, so I that's why I want, if you can send me, you know she is definitely not talking like a lender and she's definitely not using correct terminology for someone that does a lot of business of course, yeah, happy to do that send me so, so I can start.

Speaker 5:

You know see if we can do some business together okay, cool, let's do it okay, you're the direct lender, you're not. You're not using somebody else, you're the lender I'm the lender, yeah okay, good, that's what I need, to, all right, so yeah, yeah, dude all right.

Speaker 1:

Is that photoshop or is that actually pace flexing? I'm gonna go with that's photoshop for sure. Uh, but that is definitely pace's face right there. In fact, that should be the thumbnail I use. I'm not going to do that to Pace, but that should have been the thumbnail that I use.

Speaker 5:

I'll send you, you know, I'll respond and we'll take it from there. I have three or four deals right now that I'm placing.

Speaker 2:

Amazing. Okay, very cool, let's do some business.

Speaker 5:

Amazing, amazing. I love that. All right, all right, yeah, and I will look forward. Cool, let's hang. Let's do some business. Amazing, amazing. I love that. All right, all right, yeah, and I will look forward to. You know, I look forward to doing some business. I mean, you know, if you're giving, if you're giving some good raises, some good terms and you're making it, you know, pretty easy. I got a couple of deals right now that we can start working on, like right away very cool.

Speaker 5:

Thank you, sharon okay, you're welcome face okay bye, okay, bye-bye, bye, okay.

Speaker 2:

So, sharon, this also shows you how easy Gator is. Like this lady's on Facebook Marketplace, and although her real estate is not a deal for me, she's like I have like four deals that you could just lend money on. Are you the direct lender? Do I have to tell her that I'm actually lending somebody else's money? No, because she won't know. She won't know the difference. I'm referring this is what's great about Gator I'm referring this lady Sharon to my team. My team is a group of lenders that have $300 million and it's all seamless. She doesn't know any different.

Speaker 2:

And the way I structured the Gator program is I structured it so that Sharon can never go around me to the lender. The lender gets pinged to this lady Sharon and Sharon is always deemed my contact and every time Sharon works with my lender, I get paid every single time, even if Sharon's like I hate Pace, I never want to talk to Pace ever again. Every time she uses that loan portal and gets a loan, I get paid on it, even if Sharon never wants to talk to me ever again. So it does show you how quickly you can just go to Facebook Marketplace and get Gator deals. They're everywhere and this lady's like, desperate to use me and desperate to give me opportunities. She has four opportunities for me to lend money on. It's not even my money. That's the coolest thing about Gator it's not even my money. I get to lend somebody else's money but I get paid on it Freaking sick.

Speaker 1:

All right. So that's Pace's video. Is Pace Morby a closer? I don't know. Yes, I know Pace is a closer but we didn't see that in this video. So that means after an hour and 10 minutes it's still up to debate and I guess I'm going to have to do another reaction to Pace Morby.

Speaker 1:

Love the content, though. A lot to unpack there, a lot to learn. If you're a new wholesaler and you have an opportunity to talk to a Titan in the industry, like a Pace Morby or a Jerry Norton, don't waste that opportunity, bringing a not good deal without having details, without even understanding why you're on the phone with said Titan. You know Pace did a great job of navigating that whole situation. Loved his pull away from that. That's my big takeaway. That leads me to believe Pace is just an absolute stone-cold killer of a closer. But I want to see it. I want to see the signed contract.

Speaker 1:

So I'm going to have to do another Pace Morby reaction video. I guess what I'm going to have to do is have someone else on my team watch a video of his, because he has such clickbaity titles, to make sure that I'm actually watching Pace Morby close a deal. Let me know what you think in the comments and if you have a good Pace Morby video for me to react, to put it in the comments, send it to me in the DMs. We'll use that next time. All right King closer reaction P time Alright King Closer reaction Face Morby, you're a superstar, you're a rock star. I love you, brother, but I still don't know if you're a Closer. We'll have to find another video. See you guys next time.