280: How to Buy a Rental Property with NO Money OR Credit w/Pace Morby
Everyone wants to know how to invest in real estate with no money. And surprisingly, it’s much more straightforward than people think. You don’t need to be a real estate investing expert or have dozens of units under your belt already to buy a rental without cash or credit. As Pace Morby puts it, all you need is the right tools in your tool belt. The rest will take care of itself! So stick around if you want to learn how Pace picks up properties with NO money down, NO credit checks, and NO cash at closing!
Pace is known in the industry as the king of creative finance. No matter what real estate deal he’s doing, Pace has found a way to get it for no money down, at a low interest rate, and with lots of cash flow in between. His latest book, Wealth Without Cash, gives new investors a start-to-finish guide on getting deals done with subject to, seller financing, and other lucrative creative finance methods. This is THE resource you need if you’re starting your real estate journey without much cash.
In this episode, Pace walks through the different methods you can use to invest without cash, the exact way to find motivated sellers and off-market deals, and how to start with NOTHING and get your first investment property under contract. He also shares how he does deals on the spot and why going the “conventional” route of finding an agent, getting a loan, and putting money down could be a HUGE mistake.
In This Episode We Cover
Creative finance explained and how to invest in real estate with NO money down
On-market vs. off-market deals and how to lock in a rock-bottom mortgage rate
The subject to and seller financing methods explained (and when to use them)
Living income-tax-free and how Pace avoids income tax by investing in real estate
Starting from ZERO and a step-by-step method to getting your first deal done
The problem with most real estate agents and why creative finance is often unheard of
And So Much More!
Links from the Show
Book Mentioned in This Episode:
Wealth Without Cash by Pace Morby
Connect with Pace:
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-280
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