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Most people believe you need cash, good credit, or a bank to buy real estate. The reality is that hundreds of thousands of homeowners every year will hand you the keys, and sometimes even pay your closing costs, just to get out from under a mortgage they can no longer carry. This conversation breaks down how that actually works and why most investors never touch it.
On this episode of Wealth Made Simple, Karlton Dennis sits down with creative finance investor Pace Morby to break down how he buys real estate and businesses without using his own money, credit, or a bank. Pace walks through subject-to deals where the seller pays him to take over their mortgage, why he ranks single family homes as the most flexible asset you can own, and how a 7 million dollar RV park turned into a 2 million dollar jump in net worth in a matter of days. He also gets into the tax side, from cost segregation and the short term rental rules to financing 4 million dollars of equipment for a major write off.
Whether you are trying to close your first cash flowing property, acquire a boring business right in your own town, or simply keep more of what you earn, this episode lays out both the mindset and the mechanics behind it. Pace also explains why most people who watch a breakdown like this will still never take action, and what separates the few who do. If you want to build real wealth using assets instead of waiting on the market, this one is worth your time.
CHAPTERS
00:00 Intro 00:26 The System That Lets Pace Step Away 02:27 Undercover Billionaire: $2M in 3 Days 03:06 How Zero-Dollar Deals Actually Work 03:55 Why 650,000 Owners Will Hand You the Keys 06:37 Closing a Deal Live On Air 11:02 Why People Won't Take Action 13:14 Why You Pay to Be in the Room 15:15 Creative Finance Explained 16:36 RV Parks and the Accidental Landlord 22:23 The Morby Method and Wedding Venues 23:22 Real Estate Pro Status and Texas Oil Parks 24:34 Pace's Full Portfolio Breakdown 28:39 Building Car Washes With Vic Keller 33:12 Why He Won't Go All In on One Thing 34:02 Where Beginners Should Actually Start 35:18 Co-Living, PadSplit, and the Right Modality 39:15 Why Graham Stephan Is Wrong About Real Estate 40:24 Sober Living, Section 8, and Super Section 8 46:18 Rapid Fire: Ranking Every Asset Type 48:18 Taxes, GPUs, and Bonus Depreciation 50:14 GPU Allocations and Becoming the Middleman 52:54 Ken McElroy's Director of Philanthropy 54:01 How Pace Structures 45+ LLCs 55:07 The $12 Million Demand Letter 57:46 Why Hiring Pros Saves You Money 59:16 How Pace Uses AI to Find Deals 01:02:36 Hiring a Full-Time CTO 01:04:41 The Student Who Retired After One Deal 01:14:47 The Best Boring Businesses Right Now 01:18:19 Why Pace Hasn't Bought a Jet 01:21:51 Where to Follow Pace
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By: Wealth Made Simple Title: How You Can Buy Real Estate Without A Bank: Creative Finance | Pace Morby Sourced From: www.youtube.com/watch?v=cl7umZ9Jm54
