BiggerPockets Real Estate Podcast

757: $0 Down Deals, 3% Interest Rates, and Insane Property Purchases w/Pace Morby

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Apr 25, 2023
Guest
Pace Morby
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ADVICE

Call Agents After 100 Days To Pitch Takeover Payments

  • Call listing agents after ~100 days on market and offer to take over payments while paying their commission.
  • If agent resists, wait for the listing to expire and call the seller directly using skip-trace tools like TruePeopleSearch.
ANECDOTE

Rob's Austin Hybrid Deal With 3.3% And 0% Seller Equity

  • Rob bought an Austin hybrid deal sub2: 3.3% FHA loan takeover plus seller-financed $200k at 0% interest for five years.
  • Pace's contract included automatic balloon extension so refinancing isn't required at term end.
INSIGHT

Multifamily Sellers Are More Creative And Savvy

  • Multifamily sellers are often already familiar with seller financing and propose creative terms quickly.
  • That seller sophistication makes negotiating seller-financed multifamily deals faster than educating single-family sellers.
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