236: Rookie Reply: Creative Financing 101 with No Cash, Credit, or Credentials w/Pace Morby

Pace Morby’s name is synonymous with creative financing. In fact, you could say that he’s brought back a revival of strategies like subject to and seller financing. He’s been so successful with these strategies that Pace has been able to buy over six hundred rental units this year without using a single bank loan! He believes that now, even with rising interest rates and high inflation, rookie investors have a chance to get better deals than ever before!

Welcome to this week’s episode, where we’re live from BPCon2022! We’ve brought in Pace Morby, friend of BiggerPockets, to talk about everything related to creative finance. If you’re brand new to this topic, don’t be alarmed. While some of Pace’s methods may sound complicated, they aren’t actually so difficult in practice. And in just one episode with Pace, you could be convinced to try them out on your next deal!

Pace shares how he’s finding deals, where he’s buying, the negotiation tactics he uses, and why now may be one of the best times to buy. He also discusses why sellers are so open to trying alternative financing options, how you can pick up real estate deals for zero dollars down, and why creative finance options offer far better returns than bank financing in 2022, 2023, and beyond!

In This Episode We Cover

Creative finance explained and why now is a great time to try it

Seller financing vs. subject to, and when to go after pain vs. gain

How creative financing builds a win-win scenario for buyers and sellers

Whether or not rising interest rates and a shaky housing market affect these strategies

Negotiating with a seller and how to sweeten your offers so you get deals on your terms

Where to find the deals best-suited for seller financing and subject to

And So Much More!

Links from the Show

Find an Investor-Friendly Real Estate Agent

Ashley's Instagram

Tony's Instagram

Real Estate Rookie Facebook Group

Zillow

MLS

Airbnb

Craigslist

Kelly Blue Book

OfferUp

Facebook Marketplace

Leasetrader

Opendoor

LandWatch

ListSource

PropStream

Weststar Loan Servicing

AirDNA

300 Doors, 100% Creative Financing with Pace Morby

The Essential Elements of the Creative Financing Toolbox

Connect with Pace:

Pace's Instagram

Check the full show notes here: https://www.biggerpockets.com/blog/rookie-236

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