Pace Morby has built an amazing brand around his real estate lifestyle, and he has so many irons in the fire that you’re going to be inspired today. He’s just signed on with A&E for a six season series on real estate investing, plus he runs a coaching business, has a 21k+ member Facebook group, and owns several businesses with hundreds of employees that support other real estate investors.
One of my good friends says, “Wholesaling is easy, wholesalers are complicated”. But you don’t need to be that complicated! Pace lays out 3 reasons that you absolutely need to start a brand in real estate. You don’t want to be that building that everyone drives past and wonders what’s inside. Sticking a marquis advertising what you’re all about is the same thing as branding yourself; you let people see who you are and what you’re all about.
After you’ve decided to embrace a personal brand, Pace goes over the 5 Hows to establish that brand:
- Document the good, the bad, and the ugly.
- Only give tips on real things you’ve been through.
- Help people underneath you.
- Use your real name.
- Stop caring what your family thinks of your social media.
Pace has been involved in real estate franchises, and he’s been on the fix and flip scene for years. But it wasn’t until he was completely bankrupted by a business partner that he knew he had to get smart and serious about how he invested. That’s when he decided to rebuild his portfolio with creative financing.
You’re going to be blown away by Pace’s generosity and knowledge in this interview. Reach out and connect with him on Instagram or his Facebook group Creative Financing.
Watch and Learn:
Listen and learn:
- Stop listening to the online trolls and focus on building an authentic online persona that lets potential dealmakers, buyers and sellers connect with you.
- After throwing away 20 out of 24 leads because they weren’t the “right kind of leads”, Pace knew he had to come up with better financing options.
- By focusing on solving the seller’s problems, Pace has been able to absolutely crush the competition.
- If you’re spending $5,000 or more per contract, it’s time to get your crazy costs down.
Mentioned in this episode:
- Simple Lease Options
- Pace Morby on Instagram
- Creative Financing Facebook Group
Download episode transcript in PDF format here…
Joe: Hey, what’s going on, guys, Joe McCall, real estate Investing Mastery podcast, glad you’re here, as always. Listen, I’m coming up on my 10-year anniversary of doing this podcast. Can you believe that? It’s just blowing me away and I’m almost at a thousand episodes. I love doing this podcast. I never would have thought when I first started this thing that I’d still be doing it 10 years later. But I really enjoy it. I love interviewing people, cool people like we got today, Pace Morby is in the house, which is going to be exciting to talk to him. He’s just everywhere online and I’d love to see what he’s doing and what we’re going to be talking about, what he is doing. And he’s been having tremendous success with students and we’re going to be talking to him about that and talking about the creative side of things, you know, subject to owner financing lease options. And there are more than one way to skin a cat. You know, that sounds kind of gross, but we’re going to be talking about that onthis podcast.
Joe: But here we are, a thousand episodes. I remember when I first started doing this podcast with Alex Youngblood, we’re still friends, but man, I had a cheap old setup. My setup isn’t really that great now. Anyways, it’s not as nice as what Pace has got. You’ll see in a minute here. But yeah, I’ve just been loved. I love doing this podcast. I love teaching. I love coaching and interviewing people, talking about our own deals, talking about your deals. I’ve had so many people over the years. Tell me, man, I love your podcast. This is something that got me started. It helped me get going. I learned a little tip, got some inspiration. So this is awesome. And I’m here for the next ten years. Twenty years. Right. I my goal don’t tell any of the other podcasters about this. My goal is to be the longest running real estate investing podcast. Well, I won’t mention their names, but I’m good friends with all of them. And they’ve been around for probably four or five years, some of them longer than I have. I’m younger than them. They’re going to retire soon. Anyways, thanks for being here on this podcast.
Joe: And real quick, this podcast is being brought to you by my bestselling book that you can’t buy an Amazon. Wholesaling Lease Options. This is a book that I use. This is a strategy that I used to quit my job in 2009 when the economy was in the pits. I was just flipping these options. These are some of the easiest deals to do. They’re called lease option assignments or wholesaling lease options. You can get this book for free. Just pay a little bit of shipping handling at WLOBook.com well, WLOBook.com. And I’ve gotten such good feedback on this. It’s all killer, no filler, lot of practical how to how to find the sellers, how to talk to and how to make the offers and give them whatever price they want. For heaven’s sake, these are some of the easiest deals in the world to do. And if you just want to learn how to make a quick three thousand bucks, five thousand dollars on an assignment doing lease options, get this book, it spells out everything A to Z. And if you want more information on the strategy besides what’s in the book, I also have an webinar called Simple Lease Options, and you can get that webinar, low class dotcom, low class dot com, get the book at willow book dot com or go watch my webinar, my class at low class dotcom. Cool. All right, let’s bring Pace in the house. Pace Mobey, how are you, man?
Pace: I’m great. I’ve actually read your book twice. It’s like that again, like you said, all killer, no filler. You get right into it. It’s amazing information. It’s one of those books that you read and write after. You’re like, OK, I want to go back and review my notes because I was underwriting, highlighting things. And I was like, this is so good. I read it twice. I actually picked it up through. You were running an Instagram, it was on your Instagram, it popped up as a sponsor. And I was like, oh my gosh, Joe, because one of my heroes. Downloaded it. I bought the I actually bought the actual book and I read it twice. And then I handed it over to my business partner, Cody. And Cody, I think read at least twice as well. So great book. Unbelievable.
Joe: Thank you, man. I’m humbled by that. And you’re one of my heroes. I mean, you’re just everywhere right now, Pace, like you’re crushing it right now. You’re so good at teaching. You’re a great teacher and you really break things down into simple to understand format. You’ve been having a tremendous success when you’ve had success for a long time in your own business doing deals, but now you’re teaching and coaching and helping other people. You have so much free content online on YouTube. You’re doing some great things with Brent Daniels and Jamil. Yeah, you guys are doing you’re crushing it right now and I’m honored to have you on my show.
Pace: Thank you. Thank you. I appreciate you even letting me come on here.
Joe: Now, your background. I got to ask you this. This is so cool. And I just assumed that a little bit. You guys can see Pace’s background. I have ship lap on mine and some weird tree that everybody thinks is a Christmas tree and ask me questions like, why is why don’t I have lights on it.
Pace: It’s not Christmas anymore, Joe.
Joe: Got a new plant. I ordered a new plant. It’s on the way. And I also have some shelves I’m going to put up here in a minute. We’ll talk about your background there. What is that?
Pace: So it’s my favorite rap duo. So it’s Andre 3000 right here. And it’s Big Boy of the rap duo Outkast. And a lot of us grew up with Outkast. But if you look in Outkast, they have two songs. One of them is called The Art of Storytelling, number one. And the second one is the art of storytelling, number two. And they’re well known as some of the best storytellers in the rap game. And although I’m anything from a rapper, it just resonated with me. And so Jamil and I were at Max Maxwell’s event. We were speaking on stage and we had like three or four hours to kill some time. We drove around Atlanta.
Pace: I love Atlanta and it’s one of the markets we do deals in and we come across this mural that’s a hundred feet like literally one hundred feet wide, 40 feet tall, massive. And a guy painted it by hand. And it was this mural of Outkast. And I sent it over to this guy named Jay Valentine. If you guys are not following this guy on Instagram, he’s painted for so many other people. He’s currently painting some stuff and doing some statues for Post Malone and some other people. He is unbelievably talented. So I sent it over to him and he’s like, I love it. What do you want to do? And I said, I want thirty-two layers of color. So I have four lights behind me. And as I change those colors, the color of the painting also changes as well. And all thirty-two layers of the paint comes out depending on what color I use. And again, it’s, I love these guys because they’re storytellers and that’s the same thing with you, Joe.
Pace: Like your podcast has been running ten years. Think about how many stories you’ve had to tell in order to resonate with your audience and get them to convey a topic that, you know, no offense to some of the other guys that teach, but there’s guys that teach that they just it goes over most people’s heads, especially within the creative finance realm. And guys like, you know, how to tell stories properly. So I just love great storytellers because it’s the only way to really communicate with somebody as your friend and my friend as well. Tom Kroll’s talks about words like speak to everybody like they’re a third-grade child, and then you’ll be a great educator.
Joe: And that’s the whole thing with this business. It’s Tom Croll even said this once. It was, what is it? Wholesaling is easy. Wholesalers are complicated, right?
Pace: Yeah. He’s got a good one. I was actually texting somebody today. They were talking about building their brand, like, how do I build a brand? How do I build a brand? And they’re trying to emulate somebody else. And I go, look, something that Tom Croll taught me a long time ago is that your vibe will attract your tribe. Don’t try and be anybody else. Now, it’s one thing to say, hey, how do you use this camera and how do you do this? And tell me about the lighting and the audio. That’s one thing. But like emulating somebody else’s style is going to attract a tribe that doesn’t necessarily sit well with you and it’s hard to grow. So your tribe is your foundation for you to grow. And so I’ve just learned and that’s the other thing about this painting as well as that Jamil and I are this duo. Right. So you brought up Jamal and I are a duo and we couldn’t be any further from each other. He grew up in an Indian household. He grew up in Canada. He and I grew up in completely different parts of the country. Religious backgrounds are different, culture everything is different.
Pace: And also our personalities are dramatically different. And so I remember when I first met Jamil, I he’s so funny and he’s such a great marketer. I would try and emulate some of his things. And I was absorbing some of his style and I had to catch myself, go, no, no, no, no, no. So if you look at Outkast, same thing, Big Boy and Andre 3000 are so dramatically different. But that’s why they are successful. So just to your audience, as you’re building a brand, and I do think everybody should be building a brand in real estate because it’s what allows you to have access to more deals and more private money and those types of things. Just be yourself and lean into who you are and find out who you are. First and foremost, don’t try and copy anybody else.
Joe: Yeah, every time I’ve tried to copy somebody else or try to be funny like Jamal, it’s going to work for me. I fall flat on my feet. I like the Cardinals, right? So I wear a lot of Cardinals jerseys and hats. I love to golf. And so I have I don’t know. You can see you’re the low. Yeah, I can tell from but you know, you just got to be yourself and people will come to you and resonate with you. It’s the same when you’re dealing with sellers and buyers. Right. You just got to be yourself. Don’t try to be someone else, especially if you’re new in the business. I tell this to people all the time. If you’re new, don’t pretend to be the expert. Don’t pretend to be somebody who’s done a hundred deals. It’s sometimes better to be more honest and raw with your buyers. For example, I teach this all the time when you’re talking to a buyer and you’re trying to build your buyers. Let’s just be honest and say, hey, you know what? I’m new. I just I bought some late-night infomercial cause, you know, I’m one of those guys.
Joe: But listen, I’ve been doing a bunch of marketing. I’ve been talking to a bunch of sellers. I’ve made a bunch of offers. And I got a bunch of leads here, potential deals. And I’m just looking for maybe a buyer to that might want to partner with me on some of these deals. Would you be interested or should I call someone else? But being that vulnerable and honest with who you are not trying to be somebody else. You know, if you tell a real serious buyer that those kinds of things, like they’re going to be like, yeah, I’ll help you out, because they see that you’re genuine, you’re true, and you’re actually hustling and you’re doing the work, right?
Pace: Yeah. I mean, and then you avoid the whole imposter syndrome thing. Right. So like a lot of people, I see their newer they’re trying to act like the big dog when they’re calling these cash buyers. Yeah, right. And you’re immediately stepping into the cash buyers territory as like you’re better than them or you have all these deals and they’re lucky to know you like you’ve never done a deal. Just tell them that and fall on the sword. And these cash buyers will actually come in and help you. They’ll provide proof of funds for you when you need it. They’ll provide legit. See, for you when you need it, like I had somebody last night asked me, hey, what if I don’t have a website, might there’s a possibility your cash buyer has a website or a business name or something like you can either JV partner and not emulate, but you can basically utilize their stuff. But you got to start with full transparency and authenticity rather than pretending to be somebody or not.
Joe: So true, you’re an influencer, right? Like you’re everywhere on Instagram and YouTube and Facebook. And I am a little bit not as much as you guys. You and Jamal are just it’s funny watching your videos, but a lot of people watching this pace are like me and I want to be an influencer. Right. I want to be all over Instagram, maybe to sell courses or coaching or maybe just to do deals, you know, but like, what advice would you give to somebody out there who looks at all the videos and the podcasts that you are on and that you do and wants to be like you.
Pace: But at the same so funny that you’re asking me this question, because yesterday I did a YouTube video. Here’s my notes on my YouTube video and I said the why and how to creating a brand in real estate. So there’s three reasons why, in my personal opinion, why I started a brand. There’s only three reasons. It was never to influence. It was never to sell. Of course, the three reasons why is, one, access to more deals. Right? Because people do business with people who do business. Right. So I wouldn’t this is my honest opinion. I would much rather do business with somebody. I don’t necessarily like that.
Pace: I know we’ll close the transaction than somebody. I really like that. I’m worried about their ability to close the deal. Right. So for me, I want to do business with people doing business. Now, how do people know you’re doing business? I had this guy in my car the other day and I was talking about, you know, he’s doing deals in Texas. He’s doing all these driving for dollars deals. It’s his entire business and driving for dollars. And he made like two hundred fifty grand last year. And I’m like, OK, well, what app are you using? He was oh I’m using batch driven app. OK, great, awesome. Why don’t I ever see you talking about this. He’s like, why would I. I’m like I go this is kind of how I feel about you. I drive. Imagine you are a McDonald’s franchise, mom and I drive by your McDonald’s, but you have no signage, you don’t have anything outside. It’s literally just a white building. Do you think I’m going to stop and buy a hamburger from you know, because I don’t even know what the heck you are. Yeah.
Pace: So if you want more people to do JV deals with or there’s two other reasons why to build a brand and I’ll go into those in a second. But if you’re not talking about what you’re doing, then how do people know you’re actually doing the business? It’s the same thing with title companies. Are closing attorneys or anybody else in this business. Lenders’ if you’re not talking about deals you’re closing, then people don’t know you have the credibility to send a deal to. So that’s one big deals. To raise your network level, so again, I only want to hang out with guys that or gals that are forward thinkers like yourself, like I wrote down I wrote down what you said in your welcome. You said, I want to be the longest running podcast. That stuff makes me want to hang out with you more. That’s not my goal, Joe, but that makes me want to hang out with you because you’re a guy that has a goal and a very specific goal.
Pace: And what I love about it is this what I wrote down. I wrote down Staying Power. Yeah, yeah, and I’m like, now I’m going to do a I’m to do a YouTube video on Joe McCall has the most staying power in this business. And I’m going to shout you out because you’re my buddy. So the second reason to build a brand is so that you get access to higher level people, right? People like yourself. And we all resonate and hang out and we can be ourselves. We go to dinner and we can all be ourselves and have a truly authentic conversation. Number three, one of the biggest reasons to have a brand is so you can raise capital to go do deals. Yeah, and that doesn’t mean like, hey, guys, I’m raising money and you’re breaking security violations. I’m saying you’ll get people that will come to you and go, hey, I’ve got forty thousand dollars. I don’t know what to do with it. Can I partner with you on your next deal? That literally is like 60 percent of the money that we raise has come from social media. Before I ever had a coaching program, I just showed people I was doing deals. So that’s the why those are the three reasons why. And I see so many people, Joe, you see this, too, that they just immediately go, I’m going to start selling a course. You know, they skip all the main reasons you should have a brand and they go into just selling a course.
Joe: And every single one of them flameout.
Pace: Yes, they flame out. They have no staying power. Right. Staying power. So here’s my thought on that. I don’t have anything against people selling courses. Go, go, do your thing. But the reality is, most of us that have started courses and student communities, we started those because there were so many questions coming to us that we were like, I don’t have a way to answer all these hundreds of questions I get on a weekly basis other than putting it into a format that people can walk through.
Pace: Because what I find is educating people is like teaching them the ABCs. I can’t teach you the ABCs by starting on letter P. I got to start with A and you’re asking me questions about letter P, I got to bring you all the way back to A and walk you through and basically teach you like a nursery rhyme. Right. So a course typically is brought from a really, really good real estate investor because of the demand of questions in their world. And Joe, you get them all the time, people reaching out to you. I mean, ten years on a podcast, I can’t even imagine how many questions you’ve had to answer out of sequence. Right. And then people wonder why they’re lost and having a hard time in real estate. It’s like because you’re watching random YouTube videos and you’re starting on the letter P or T or W, and you’re wondering why am I lost? Right, so demand will come if you are doing business and building a brand, then you have the demand to go create a course. It’s not the other way around because they want staying power. Start with the three reasons why buying more deals, raising your level of your network and the people you hang out with. And then three, raising capital. Those are my three main now personal opinion, obviously. Then the how. Here is the fight. I won’t go into this deeply, but there’s the five hows. How to build a brand one. Document the good, the bad and the ugly Clint Eastwood style baby, that’s one of the best movies of all time. Go watch thatWestern The Good, the Bad and the Ugly.
Joe: Real quick. Yeah, I watched that the other day and I could not. I love the movie as a kid, but I could not believe how slow all those westerns are so slow. You would never see that in a movie today where there’s like five minutes of nothing happening.
Pace: And that’s just people staring at each other with no dialog. It’s so good. Sorry, but no, that actually that’s a good that’s a good addition to that, because the reality is people have to understand that this is a slow process. You can’t just start making three Instagram posts and expect to get ten thousand likes. Right. You have to understand, you make a post. Nobody’s going to like it but your mom. Right. And you have to go build that audience. So document the good, the bad and the ugly. Why do I say ugly? Because most people that are brand new in this business, all you have to show is the ugly, right? Hey guys, I cold called today for two hours. I got four leads and I got 18 F-yous. Yeah. That’s something that resonates with an audience of other people that are trying to learn real estate. Right. So document every little thing. And that’s all social media is for me, is it’s a documentation process of my journey down a path. I’m not creating content. I’m documenting my business. That’s the difference.
Pace: OK, number two, only give tips on real things you’ve been through, this is something I see all the time where I get I see new investors. They’ll DM me on Instagram and they’ll say, hey man, haven’t got my first deal, blah, blah, blah, blah. Then I go to their Instagram profile and they’re giving tips on how to wholesale. I’m like don’t do that. People can see right through that. And you immediately lose credibility. If you want to give tips, give tips on how to cold call three hours a day without giving up. That is a great tip. Right. But don’t give a tip on how to successfully wholesale because you haven’t done it yet. It’s not a great look, not a criticism. I’m truly telling people if you’re doing those things, your audience will see through it very quickly. They will. Number three, this one’s probably one of my most important things. And one of the reasons why I have quote unquote blown up is help people underneath you. OK, and what do I mean by that? About three years ago, Joe, I did this crazy thing for about a year where I would just go on my Instagram. I go, hey, guys, I’m going to four by appointments. And I’ve got a meeting with a private lender. The first three people to meet me at Circle K can jump in my Prius and we’re going to drive around today for eight hours.
Pace: And I would get twenty, thirty people that would show up to Circle K fighting over the seat in my car way. Right. And because most coaches like I know this guy charges this guy that charges sixty thousand dollars for a coaching program that’s like three months long. You know the type, right, Joe? Yeah. So I’m like I was, I didn’t I had never even had the thought. But what I was trying to do is I was trying to say, look, I can teach these people how to do this business and they’ll go out and they’ll drive for dollars or they’ll do something else. And now I’ve got a team of people sending me leads, but I create a brand as a go giver of somebody that’s willing to give more value than somebody else that’s charging sixty thousand dollars for a coaching program. Right. So help people underneath you to give a really specific example, non ambiguous, because I’m a non ambiguous type of guy. Brent Daniels used to do this thing called Super Saturday. Right. So he’s like, look, I’m kind of new in the business. I’m not crushing like hundreds of deals, but every Saturday I’m going to cold call for six hours at my office in his office at the time was like in somebody’s basement.
Pace: And he would just invite people over and say, come watch me cold call so you can get over your fear of cold calling and we’ll cold call together. That was truly like documenting the good, the bad and the ugly and helping people underneath him that hadn’t even made a cold call yet. Right now, here’s the other one. Tag the people who inspire you. So guys that are listening to this, think about this. It’s so simple to take your phone, take a screenshot and then put that on an Instagram story and tag Joe McCall and say this was a great podcast. And here’s the thing. Also, staying power or consistency is one of the biggest superpowers in this world, right? So the people who I hang out with, guys that maybe you don’t know, Joe, or most people in the world don’t know, they might not have a brand or whatever, but they’re doing deals. I hang out with those people because they tag me so many times in Instagram that I’m like, OK, you finally caught my attention. What are you all about? Let’s do deals together. And some of those people we’ve partnered on fixin’ flips with, et cetera. So my keep my thing is this. If you guys want to get Joe McCall’s attention, you have to consistently when you listen to his podcast, you take a screenshot. And go, Joe, my one takeaway was this and you put it on your Instagram story and you help Joe build his brand.
Pace: Joe will notice you, but he’s not going to notice if you do it for three-to-three times. He’s going to notice you after the 10th or 11th or 12 times of staying power and consistently tagging the people who inspire you to get the attention that you really want. Then you get on page. Like with Joe McCall, you get on a podcast with Steve Train, you get on other podcasts because these guys and gals start taking attention of only the people who are consistent. Because, Joe, you’ve been in this business longer than me, brother. One thing that probably the biggest differentiator between successful and unsuccessful people has to be consistency. Wouldn’t you agree?
Joe: That’s huge. And I want to add something to you, because these are such good points that we weren’t even planning on talking about this. But don’t think that you have to have a huge audience to make any kind of impact or difference or see any kind of results from this. Like, I was just talking to a guy the other day who’s got only three thousand, twenty-six hundred YouTube subscribers, and he did a thing where he went out into a new market and started cold calling or driving for dollars and cold calling and locked up twenty or thirty thousand dollars in profits within like three or four weeks. Right. But just documenting it. And he is getting tons of business from that. Investors, people bringing him deals that he found an acquisitions manager from in this new market from his YouTube videos. And he does a little bit of coaching here and there. But he’s crushing it. Just so don’t think that you have to have a huge audience or hundreds of thousands of followers to make this work if it all starts from somewhere. I mean, I’m so glad I didn’t know how to figure out my podcast downloads. I didn’t know where to see those stats. I didn’t know what was good or bad. Right. But like, if I would have known, I don’t know if I would have gone past year or two. No, no.
Joe: So it’s the same thing with your followings and subscribers and things like that. You don’t need a huge audience. In fact, there’s another guy I know who has a couple of different podcasts, and one of them has got a huge audience. The other one is this real small audience, but it’s very niche podcasts. And he told me one time, he said, Joe, I have a tenth of the audience with the small thing, but I make ten times of my income from on this small little podcast here because it’s a niche, it’s very narrow and specific. And that’s where he made most of his money. So it’s OK to go an inch wide and a mile deep and it’s OK. You don’t need to be the nationwide wholesaler expert, right? You can be the local Des Moines, Iowa wholesaling expert. Right. And raise tons of private money, find lots of deals, even do a little coaching if you want, being the local expert. Right. And it’s so much easier to get a footprint and get and to gain a following when your narrow niche like that. Would you agree?
Pace: One hundred percent. Yeah. There might be a point in your journey, guys, that you still haven’t found your voice. You know, it took me a while to kind of find my voice. And how do you find your voice? Do you find your voice by trying multiple things out and saying, you know what gets me passionate? What? Where’s my energy source? So, like, going back to what Joe just said earlier, he said, if I knew my stats, it probably would have somewhat demoralized me to a point where I might not have continued to go forward. However, you found an energy source. You found something that gave you energy and it didn’t matter. The stats didn’t matter. You found your energy source and so you got excited about the podcast. Doesn’t mean that you didn’t wake up. Sometimes you go, oh, man, I’d really like to go out and play a quick nine, but I got to do my podcast. That doesn’t mean that those thoughts didn’t happen, however, because that is an energy source for us. It gives you it gives you passion and drives you. You continued to fight through it and you had a tremendous amount of staying power. And then all of a sudden the results started showing up because you were passionate about it. So guys don’t copy other people just because you see what they’re doing is successful. Find something that you’re going to be consistent with, because I can tell you some people with the worst content that are just simply consistent are successful. Right. So don’t overthink. Don’t overthink the content. Just think about what’s going to make sure that you’re consistent long term.
Joe: Well, this is another key point, too. I remember when I started the podcast ten years ago, and I say this a lot, I thought I’d missed the podcast boat. I thought that way, podcasts had already been out for five, ten years before. That bothered me not that long, but and I thought, wow, I’m too late to this, but I’m just going to do it anyway. At the time, there was maybe six different real estate podcast, but I thought that was a lot. I didn’t think the audience was that big, but I stuck with it. And you guys maybe looking at YouTube or Instagram or Tic-Tac and think there’s already too many out there, it’s never too late to start. I remember when Max Maxwell started his channel. Right. And I remember thinking, oh, man, I hope he does well because I love what he’s doing. But there’s so many real estate YouTube channels right now. Right. And look what look what’s happened to him since he started. And I thought he was starting too late.
Pace: I thought that was so interesting to think about. Yeah. Yeah. I was just with him like thirty days ago and he’s now he’s branched into sponsored a bullfighter. He’s got his own plane. He took me out to the airport and is showing me his plane. And I was just we were talking about branding the whole time, branding, branding, branding is like, you know, so, so critically important in the real estate world. And here’s a quick tip for a lot of people. Guys, notice that both Joe and I have named said people’s names, right? So we’re not talking. It’s like I get people on Instagram that don’t even use their real name. They use some weird name that either, like, I had a guy I can’t remember, it was something like Booba investor or something like that. His Instagram name. I like I love the name. It’s cool. But you need people to know your name because people it’s easier for people to remember your personal name, they don’t want to have to address you as the Booba investor.
Pace: And, Joe, you get people and I know you do, because I’ve seen you in a crowd. You get people to come up to you and go, oh, my gosh, Joe, nice to meet you. Have you ever had people come up to you and they go, Hey, I’m on Instagram. You? Oh, great. Who are you on Instagram? And they tell you they’re like their moniker or like they’re it’s not even their real name. You’re like, how am I supposed to remember that? Right. So guys, use your real name on these social platforms because you can hear Joe and I actually talking about people’s real names. Don’t use a brand name, right? I don’t I don’t say something like the sub to guy. I just say my name is Pace Mobey. Right. And then my content speaks for itself. So make sure you use your real name.
Joe: And some people think that they’re building a business that they can sell in the future. And I’m just like, no, I mean, forget it. It’s not going to happen. It might, but it’s very highly unlikely that it’s going to happen.
Pace: That’s an interesting thing. And in the wholesale world, I was just in this mastermind and somebody posed that question. They said, is a wholesale business something that you can sell? And I’m like, yeah, you can sell it, but essentially you’re not going to sell it at 10x earnings. You’re going to sell it at maybe point seventy five percent earnings, something like that. You know, like you’re making one hundred grand a month revenue. Maybe you could sell that business for seventy-five thousand bucks, something like that.
Joe: Now if you want to go franchise like Key Glee has done.
Pace: Oh yeah. Key Glee franchise. How much money? I was a home vester guy for two and a half years. I was a We Buy Ugly house guy and I bought my franchise for one hundred and thirty-five grand and then I sold it for two fifty, two and a half years later. What they get is not me. Right. So I’m the closer unfortunately. But what they get is a territory that is locked out. Right. So there’s scarcity there. But if it’s just a regular wholesale business. But anyway, let me wrap up the house because I think the fifth how on building a brand is I think this is probably everybody’s everybody in the audience, especially if this is live on YouTube or there’s this live on YouTube right now. Yes. If you guys are live on YouTube right now, type of. Yes. In the comments, if you guys resonate with us, you got Mike here.
Joe: We’re talking about social media. It’s probably my best ever deal. Yeah.
Pace: So the fifth thing is this stop caring what your family members think or your friends think of your social media. What I see a lot of times is that people that are brand new, they have four hundred followers in the all four hundred of those people are there, their daughter or not their daughters, but like immediate family members and immediate friends from high school, etc.. Right. So here’s what I do. I tell my family, don’t follow me, because this isn’t, this is not for you. You’re never going to send me a deal. Even if you had money to give me. I wouldn’t want it for private capital. So you’re not my audience. Just don’t follow me. It’s like my parents. They have no idea what I’m up to. My siblings. I have eight sisters and three brothers. Very big, very, very big family. None of my family members follow me on Instagram or social media because I told them not to. I don’t want to think about any of that stuff. I don’t want to in my brain. So, guys, create a new Instagram, create a new YouTube that and literally just forget about the family members and everybody else, because they’re never. Here’s the thing. Do those people pay your bills? Do those people bring your deals? Do those people bring in private capital? No.
Pace: Then get rid of them out of your social media presence so you can post freely your mistakes, your trials, your tribulations, your connections, all those types of things without the thought process of people judging you. Because that’s what I see. I see people create an Instagram account in their personal name. There you go. I’m telling you, this is something I run into all the time. That is a challenge for me. What would they think. Here’s what you do. You go in there and you block them from being able to see your stuff. Yeah. Or you create a personal account and then you go create a business account, something like Giselle the investor. That’s a cool idea or just an angle says I would say Justin Engle’s the investor. Something along those lines. You have a different account that people can get to know you, that your investor account. And don’t let your family members follow you so that you don’t have those thoughts.
Joe: I’ve done the same thing and it will, except I’ve not. I just posted I don’t care what my family thinks, but that is a hurdle. When you’re just getting started, what are they going to say? What are they going to think? And I guess for me, I’ve just taken the attitude of I don’t care if they are not interested, then they want to watch. Sometimes I prefaced my post with, hey, if you’re in real estate, listen, I got something to show you. I’m so sometimes I can preface the beginning of the post with something like that. But you’re going to get haters no matter where you go, whether they’re your family or you just sometimes got to have thick skin with that, with social media especially.
Pace: I watched this thing of Grant Cardon’s a little bit ago, Joe. So I go let’s say I go clean my garage, I literally was cleaning my garage. Part of my studio is out my garage with this massive white board that I use and I’m in my garage and cleaning up and setting up parts of my lighting and stuff like that. And I was in there for six hours. And I listen to this YouTube video of Grant Cardone talking about how he changed his thought process on haters and people that were judging you as part of the equation rather than something to avoid, he was like, look, if you have an equation of documenting your journey equals success, you’re missing out. It’s documenting your journey. Plus Hater’s equals success. And I was like, wow, that really changed my thought process. So I get people all the time to say stuff to me and I go, I’m so grateful that you as a troll just showed me who you really were right up front. So I never have to worry about figuring out who you really are. Right. So you’ve shown me and you’ve shown the rest of the world that you’re a troll. And so I’m grateful for the haters because then I never have to deal with them on actual deals. So you guys have to look at the haters, which I’m making too big of a deal of it. I know I don’t even pay attention to those comments.
Joe: But for every one hater, you get a guy like Justin here, you know, you get everyone here, you get 10, Justins. So he says, I love both you guys.
Pace: It might even be more like, I know, Joe’s just throwing out a number, but it might be more like one hater to ninety-nine fans. Yeah. Because again, your vibe attracts your tribe and most of the people that are listening to Joe are trying to have financial freedom, be able to wear a Cardinals jersey and a golf hat whenever that the F you want is kind of like my version of the Lamborghini. Right. Like I see other guys, it like Lamborghinis are their thing. For me. It’s like, can I go out and play golf whenever I want? Can I go hang out with my kids whenever they want? That’s the Lamborghini.
Joe: Oh no wonder I like you so much.
Pace: Yeah. I’m, I’m, that’s like my only outlet is golf. I married a golfer, my kids golf. We actually I’m hanging out with Gavin. We’re going to go play golf at my country club this week. Oh man. Any time you’re in Phoenix set me up. We’ll go play.
Joe: I got at least two or three friends in Phoenix that love golf and keep on telling me to come. And yeah, I need to do that.
Pace: It’s the Mecca. It’s amazing. You’re in what was where you are again? St. Louis. St. Louis.
Joe: I got this awesome club just fifteen minutes from my house that’s in the hills. It’s pretty, it’s secluded, it’s private. And any time you’re in St. Louis, let’s play here, too.
Pace: I’ve actually never been to St. Louis. And so it’s one of the cities on Jamil and my tour this year.
Pace: Well, OK, let’s talk about your personal history a little bit here. This has been really good and hopefully we get through all my questions here. Let’s talk about your background real quick. How did you get into the business? And the other thing I want to talk about, I’ve seen you in the RV doing real well, travel. I love that. I’ve done that well once in an RV for three months, doing deals with my four kids and a wife and a dog. We took with us on an RV trip. And then we been to Europe twice. But I love hearing stories of people that are traveling and taking this virtual business on the road for first. OK, talk about your how did you get into real estate real quick?
Pace: Well, my origin story started. I come from a blue-collar family. My dad is my mom and dad. Twelve kids. I’m number three so I have nine siblings underneath me. There was never any money. I remember growing up in high school, my buddies would get these debit cards from their mom and dad. Like, I lived in a pretty nice area and my buddies would get debit cards like their parents are. We don’t want you to work. Your full-time job is to be a good student. I’m like, holy moly, what if I had to if I wanted to go on a date with a girl, I had to paint the shed or I had to do something like significant. My dad would pay me instead of paying somebody a thousand dollars, do a project, I would have to do something for twenty bucks. Right. And then I’d have enough money for at the time this is now twenty years ago I had the time. Twenty bucks. I could go on a date with a girl. Right. So that’s how I grew up. Is just a hard working family. And my dad was a contractor a lot of his life. Still to this day. My dad is a contractor, so I learned to work with my hands and unfortunately both good and bad. The good side of that is that work is not something that scares me. Work is something that is in my blood and I don’t have to wake up in the morning, go, man. I got to motivate myself like I get anxiety. If not, I’m not working. I know, Joe, you’re the same way. Like, you got to have projects. You got to have things you’re working on. Right. So I’m grateful for that. But the problem is this.
Pace: I learned growing up by watching my dad that working with your hands is the way to make money. And physically trading your time for money was the way that my dad supported a fourteen-person household. Wow. Good for him. Oh, amazing, right. Hard working guy. Always doing a lot and super grateful for him. But when I was 16 years old, I got my first job outside of my father’s world and I was packing donuts at a donut shop and I learned how to systematize and work harder than anybody else. And I would be able to condense my four hours worth of work into two hours. And I got paid by the route of donut routes that I would pack and I would leave two hours earlier than everybody else. And, you know, it was interesting. I get into construction. I spend my twenties putting my time and energy into the wrong business. It’s not hard work does not make you wealthy.
Pace: It just doesn’t. It’s part of an equation. Right. So the equation is hard work and pouring your energy into the right vehicle is what actually makes you wealthy. And so as a contractor, I was lucky enough to know a lot of. People that were fixing it, flipping houses and they’re all driving nicer cars and living in nicer homes and me and I’m like, dude, I work so much. I remember coming home, my wife and I was like, twenty-seven. I work so much harder than these people. What the f? And it wasn’t until one of my friends that was I was fixing and flipping houses for as a contractor. I had a big construction company. She came to me, her name is Bethany and Bethany comes to me, she goes, Hey, I’m getting out of this real estate business. My husband and I are retiring and I want to sell you my business. What year is this? This is seven years ago. I was thirty-one. And she comes to me and she sells me a whole investors franchise. And I’m like, I don’t even know what you do here, but I know you’re fixing and flipping houses. I had no idea that it was about this is now actually a little over seven years ago.
Pace: But I had no idea that basically what it was is going and buying distressed homes from property owners with issues and all that kind of stuff. But I do my first deal. I make twenty-five grand, literally two weeks into the business and make my first I get my first deal and that’s a whole story by itself. Another day and I go, holy moly, I made 50 grand in my first month. First deal. Twenty-five grand. Second dollars. Fifteen grand in my third deal was just under just over 10 grand. So I’m like, holy moly, I made 50 grand in one month. Now at the time I was working for Open Door. So when Open Door was I was a contractor for Open Door. We were doing 50 flips for Open Door every month in Phoenix. 10 in Texas and ten in Vegas as they were expanding. 2012. 2013. Right back, back, back in the day when they were just getting started. Right. I was one of the first people that did their work. I took home that year. I took home a million dollars as a contractor and I was like, wow, this is the greatest business ever.
Pace: But then when I saw how much time and energy I put into helping distressed property owners, I was like, wait, I had to work 80 hours a week to make and have two hundred employees to make a million dollars versus I could literally just have my wife answering the phone and I could go out to three or four appointments, lock up a couple of deals and make six hundred thousand dollars a year. Holy moly. So I stupidly, Joe, I stupidly kept my construction company another two years past that and I ended up having a guy file bankruptcy on me, one of my customers. I lost a million dollars to this guy. And it was the best thing that could have happened to me because it was like that kick in the pants that told me, get the heck out of everything else but real estate. And because of that, that guy bankrupting me.
Pace: I had no cash. Right. I had no cash. And so what I had to do is I had to build my portfolio without cash. And that’s where creative finance was not, hey, I’m going to go and learn creative finance because I think it’s a great idea. It was a requirement for me to rebuild my portfolio and rebuild my stuff. And again, going back to how to build a brand, I documented the good, the bad and the ugly with creative finance doing all of the things right. And, oh, I screwed up on this or hey, I didn’t know I should have done this. And this paperwork came back in between the but and I would talk about it for years. And then all of a sudden people go, oh, ask Pace. He knows all about creative finance. He’s gone through all of that stuff. And then over a couple of years, I just became the guy, especially in Phoenix. I became the guy. Right. Hey, there’s Jared Francom, actually. Jared Francom. Funny enough, he’s the guy I told the McDonald’s story, too.
Pace: He was with me and we were talking about him building a brand. I go, Jared, you’re making a couple of hundred thousand dollars a year. Why are you not branding yourself? You’re like a McDonald’s franchise without a freaking sign. Dude, nobody’s going to buy hamburgers from you. Come on, Jared. So he texted me the other day and he goes, Bro, I’m sick of being the white building McDonald’s. I need to throw some branding up here. Help me out. Right. So anyway, so that’s kind of a longer story than I planned on. But I started doing a lot more deals and now we built a good portfolio, well over one hundred doors, single family. I don’t do a lot of multifamily. It’s not that I don’t think multifamily is amazing. It’s just that it’s never been in my wheelhouse. And so I think in the next year and years to come, we’ll do a little a little bit more. So right now, this is what my business looks like.
Pace: We have five, sixteen streams of income. I own title companies we own because I believe in this really important acronym that I came up with not too long ago. E I everybody knows stands for real estate investing, but for me, REIT stands for Replace Your Expenses with income. So we were looking at all of our NOLs. We go, OK, that’s costing us money title titles. These are costing us money. So we bought an existing title company and now I get a check from that title company that supersedes how much money I spend in title fees. Right. So replace expenses with income. And it’s the same thing with transaction coordinating. Man, our transaction coordinating is costing us money. Why don’t we build a company? So we have a company called ConstantClose.com that does transaction coordinating 50 states, all 50 states. We do creative deals, we have constant work. Constant close dotcom. Then same thing with our virtual assistants. At the time we had 15 or so virtual assistants and I’m like, let’s go create a virtual assistant business. So now we have a four hundred client base that we have. We own a company called VAHub.com. And we do that to just texting, cold calling, admin work, bookkeeping, all that kind of stuff. And so same thing with bookkeeping. Bookkeeping was costing me money.
Pace: So I went to Tom Kroll and I was like, who’s doing your bookkeeping? And he’s like, Oh, I have this girl named Tony. And I go, Do you mind if I utilize her? Because no, she has other clients besides me, of course. So I went to Tony. Tony, how would you like to start a bookkeeping business? And I’ll hire one hundred VAs underneath you and we’ll go out and do bookkeeping service for real estate agents and real estate investors. Two hundred bucks a month. All your bookkeeping services are done. And so everything I do now is replacing my expenses with income. But what my real estate business looks like is this. We primarily buy in Arizona and in Arizona my exit strategy is either a lease option, a straight up rental or an Airbnb inside outside of the state. I’m buying in Vegas, Atlanta, Dallas and certain parts of Florida like Orlando, Tampa and all of those. Every exit strategy is an Airbnb because I have a great Airbnb manager that will fly around the country for me and set up the houses. So I just bought a sub to in Dallas on a golf course. Never been to the house. He flies out, he gets it furnished, he gets it set up.
Pace: Utilities are in his company’s name. He’s in his company’s name. And I just get a check every single month and he goes through his Airbnb account. And so I go to him, I go, hey, let’s start a partnership. I want to help you build this business, but I want to be a part owner and I’ll go get you five hundred clients that you can go manage Airbnb for. So again, it’s just looking at every expense you have. And how can I partner with people, high level people and replace my income? So we buy we probably buy one creative deal for long term hold every week. Sometimes we have a package of homes that we’re going through right now. Fifty-one homes from one seller, all seller finance, two percent, 30 year carry, five thousand dollars down per house. Wow. But those are how those relationships work. It’s like you get these portfolio sellers that have 50 homes and they want way too much money.
Pace: And so what you do is go, let’s just pick one house, your worst house out of the whole portfolio. I will show you that I’m a good businessman and I’m somebody you want to partner with. And so I bought that one house from her. She made us make six months of payments to prove that we were credible. And then we went back and we go, how do we buy the other fifty? And we went from twenty thousand dollars down at four percent interest ten-year balloon on the first deal to now all the other fifty-five thousand dollars down two percent interest. Thirty-year carry. Right. So we were working through those in Arizona and then outside of the states basically I’m just partner with people through Instagram and stuff. They send me deals and I buy those deals. Now where we wholesale because wholesale in my opinion, people go, hey, how do I market for creative finance deals? And my answer is you don’t. You don’t. You market for distressed property owners. And now what you do. This is why Joe is one of my heroes, because Joe’s done all this stuff right.
Pace: Joe’s currently talking primarily about wholesaling lease options, which is an amazing strategy. But Joe’s done all of this stuff. So you get a lead. And what powerful men like Joe do know, he has all the tools on his tool belt. Right. If I’m a wholesaler, I’m looking down at my tool belt and I have a flat head screwdriver. If I’m a Joe McCall, I walk to that job site or to that cellar and I look down at my tool down. I got a drill, I got a Philips, I got a tape measure. I got all the things I need to make sure that I can solve this problem. So that would be sub to seller finance innovation agreements. I’ve got wholesaling lease options. I’ve got all these strategies that essentially the same lead. It’s like using it’s like the Indians would use the buffalo. Every last part of the buffalo would be utilized. It’s the same thought process. Why waste all these leads? Whereas other people in just straight up wholesale, they’re no wonder they’re dying on the vine right now. They’re having a hard time just doing wholesale cash deals because that’s like trying to build a house with one screwdriver. Right.
Joe: It’s been said that we’re not deal creators, we’re deal finders. And that’s true to a point. Right. But when you’ve got a motivated seller, you can become a deal creator. Right. And you can give the sellers multiple options. So there’s kind of a balance, I think, between that, you know.
Pace: Yeah. Well, the thing about this, like your I’ve seen your I’ve seen your home in some of your ads. By the way, are you on like a glide board on some of those ads? Segway your Segway. I’m like, how is this dude floating? This is amazing and I love it. I freaking love it. So good. So you do projects around your house? I imagine so. Anybody listening to this, think about this. You’re doing a project around your house, whatever it is, and you’re like, oh, I don’t have what I need. So where do you go? You go down to Home Depot or Lowe’s or Ace Hardware and you go get the thing you need. Right. And you come back to the house and you go, oh, crap, I need now I need this. So you go back and tell you ultimately have the things you need to solve that problem or finish that project. That’s kind of how I look at with coaches and books and podcasts and stuff like that, is ultimately saying how do I make sure that I have what I need to complete this project? What most wholesaler’s do is they look at that and they go, I don’t have what I need to solve that problem. They don’t, they’re not even intelligent enough to know that. They just need another tool. What they do is they say seller wants too much money. This leads trash and they throw it to the side. It’s like, bro, no, it’s not that. It’s just you’re missing some elements.
Pace: You need to go down to this podcast. You need to read this book. You need to go get a coach like hire Joe and learn those strategies and go back and solve that problem. Right. So that’s ultimately what I got sick of. Right. So when I was a home vester franchise, our cost per contract, super important KPI guys, if you’re not paying attention to that KPI cost per contract, we would spend twenty thousand dollars a month direct mail, which is the kind of their primary marketing source and we would get typically four contracts. So that means my cost per contract was five thousand dollars a contract. That was years ago. It is way higher now. The whole investor buddies that I have there like eight to eleven thousand dollars per contract. Now, their exit strategy is never to really wholesale. Their exit strategy is primarily fixing and flipping so they can squeeze the juice out of that lemon. But for me, I was looking at it like, OK, so I got 30 phone calls from direct mail. I only closed four of them. That means twenty-six of these people. I couldn’t solve their problem. And I just looked at how do I get my cost per contract down to like fifteen hundred bucks? Do I just become a way better salesperson in a way better closure and be more eloquent and confident and have all the, you know, the, the machismo. When I walk into this meeting, this meeting. No, I had to learn how to utilize creative finance to solve those problems. And so I became top three out of eleven hundred franchises in the nation, not because I’m amazing at closing, but because I showed up to that job site with a full tool belt rather than just one freaking screwdriver.
Pace: So then it then became fun because I’ve got this cool podcast. I’m going to be on the Wolf of Wall Street. I may be on his podcast in about a month. And he’s like, well, what’s unique about you? What’s unique about your sell skill? And there’s nothing unique about my sell skills. Here’s the thing that’s unique. I show up to the same house as every other real estate investor. I just simply have products that these other people just don’t have. So I don’t have to be that great. I just have to be able to understand which tool to utilize in that situation. And I beat out all my competition. So wholesaling lease options. Joe’s book, which amazing book. I’ve read it twice, guys, for anybody that’s just tuning in, dude, that solves probably another 20 percent of people’s problems that a cash deal can’t solve it, just can’t solve it. So the reason why you guys are tuning into this podcast is because, you know, there’s more than just giving people cash offers, which we love. Cash offers. We do fix and flip. We do. I just got a deal. We made one hundred and twenty-eight grand on the market’s hot right now. So like every buyer’s buying things. Thirty thousand dollars over our list. Appraisers are luckily not beating us up too much. We’re whatever.
Pace: But look, fixing flip has its place. Wholesaling has its place up to has its place, seller finance has its place. All these things have its place. Wholesaling lease options has its place. The reason you guys are tuning in here is because you’re standing in your garage trying to finish a project and you don’t have the right tools. You got to go down and figure out where do I get these tools? And guess what? You’re listening to a podcast that’s been going on for ten freaking years. That is probably going to go another twenty years or more. This is going to be the longest lasting podcast. Joe said to himself he’s send it out to the universe.
Joe: Yeah, it is. Man Pace. This has been awesome. And we’ve gotten some great comments here. I’ve not even been showing all of them. Jared says here you whipped me into shape last week, Gisele, I’m sorry I messed that up. VA Hub Dotcom is your virtual assistant company right now and then your ConstantClose.com is your transaction coordinators. Here’s the thing, though, Pace. It’s already fifty five minutes into this. If you’re open to it, would you be open to doing another podcast?
Pace: Bro, you don’t have to ask me. You don’t have to ask me to talk.
Joe: Because I wanted to ask you one of the things I saw you talking about. And again, you’re such a good teacher and I love how you just break things down into simple, easy to understand things. One of the things I’d like to ask you about in another episode, we’ll schedule this when we’re done here. Let’s give people like a three-, four- or five-year plan to become financially free right now. Quit your job. We’re not talking about making hundreds of thousands of dollars a month, but just a simple plan that they can execute. Maybe doing one deal a month or something like that. Yeah, they can quit their job and have a good income stream from properties. Would you be willing to talk about that?
Pace: Yeah, one hundred percent. It’s one of my favorite things to talk about. And honestly, if you guys requested enough, this is what I would do. If everybody is watching live, I would tag both Joe McCall and myself on Instagram and just say, hey, great podcast, please come back. Let’s do this. And what Joe and I will do is we’ll talk we’ll create three different avatars, OK, because everybody’s a little bit different. I would give an avatar to somebody who has a budget right now. Right. Somebody that has a budget to go spend money on advertising on stuff. I’ll give an avatar for someone who has no budget, and then we’ll create an avatar around like a stay-at-home mom or maybe somebody it’s locked down in a nine to five that doesn’t have a lot of time.
Pace: And so we’ll give a two to five year plan for those three different avatars, because I find out that those are probably the three most common avatars of people. So I don’t have any money for advertising. Then there’s guys like I have a probate attorney named Rylis that comes to me and goes, dude, just build my business for me. I’ll give you 15 grand a month, just build my whole business for me and have it popping out. Deals like, OK, so instead of him building the conveyor belt of deals over a year or two years or three years, he just comes to me and goes, just build it for me. Tell me what the check is. Right.
Pace: There’s those people that have the money because they have a great nine to five that brings in good income. Then there’s people that are brand new or, you know, they have a big family or a lot of expenses or whatever, and they go, I don’t have any money to do this, but I know this is the only path I can go on. Then there is the people that just go, I don’t have any time whatsoever. So guys, tag Joe McCall, pull that on the screen, @JVMcCall ishis Instagram tag.
Joe: This guy at JVMcCall. I’m not a big Instagram guy, but I’m getting there. I’m getting better, more into it. And of course pace is at pace. Morbyright. P ace e m o r b y.
Pace: Yeah, I’ve got this cool thing, I’m doing two. So a couple of things that are on the horizon for us this year. Jamil and I just signed a six year contract with A&E for a television show. Oh. You serious. Yeah. Good for you, man. Thank you, bro. So we just signed that we’re that’s we’re in negotiations back and forth on a couple of things, but that should start filming next month. And then I’ve got another thing that I’m working on. I would say, Joe, off the top of your head, I’m curious, what is the most common question you get every day?
Joe: How do I find deals?
Pace: How do I find deals. OK, so similar to the question I feel like I get my question is how do I get started in real estate? OK, so I created this thought and you know Robert Garland.
Joe: Yes. Oh, are you right over there. No money down. Completely revised for the eighties.
Pace: Oh, I love it. Yeah. That one’s old school. I when I was listening to that one, I was like, oh my gosh, I have to. He has another one for like the twins and I had to like switch over to that one. But he has another book called The Challenge when he went to L.A..Actually, I think it’s not L.A. It’s another city with some it was almost like Detroit or something. I can’t remember. But I just read it a couple of months ago. I got to look at up and it’s a great book. Basically what he does is he goes to the unemployment line. He literally pulls out three people out of the unemployment line and he goes, I will show you how to get into this business. And in 90 days, nice. And I’m like, wow, that’s it’s an amazing book. The challenge is what it’s called. I’m going to look that up. Yeah. So what I did is I go here’s the thing is I get that question. No joke on my Instagram. DM’s people send me this question probably five to 20 times a day. It’s the same question, Newt. Brand new people. In fact, if I pulled up my Instagram right now, I would have probably five, ten requests. Messages from people I’ve never talked to before are sitting here asking me questions, multiple people asking the same thing. How do I start in real estate? Hey, what’s the first step in real estate? Literally, it’s a question I get all the time. Oh, yeah. So I go, how do I create this amazing series?
Pace: So what I’m going to do, I have my audience, my I have a creative finance Facebook group. I have my audience taking a poll every week for the next six weeks. And the first poll is what I’m doing is I’m going to go to a random city. I’m going to go live there. My first night is going to be on a park bench. I have no money, I have no cash, nothing. I don’t even have like I have a phone, but I delete all my contacts and I document my journey starting from day one. How does Pace go from a park bench to doing deals in thirty days with zero resources whatsoever? Right. So I’m having the audience currently vote on should I do a large city that’s highly competitive? Should I do a medium sized city or should I do a very small city? Low competition, but less buyers, less deals, et cetera? There’s good and bad about all these cities. So right now I have hundreds of people voting on this. And so over the next couple of weeks, we’re going to whittle this down to like three or four cities. And then I’m going to do that this summer.
Pace: I’m going to go choose a place for thirty days and I’m going to live there and I’m a document all the way through and go, if I can do this with no money, I’ll show you exactly what I’ll do. I have no money, literally. Night one. I have no money. I don’t have money for food. Not ahundred bucks, not ten dollars, not even a dollar. Nothing. What do I do?
Joe: Man I, I would never want to do that. Yeah. That is insane. That’s awesome though. I know you’re going to crush it.
Pace: Who knows. I might fail but I’d be OK with failing. Right.
Joe: And can you give yourself a thousand bucks?
Pace: No, I want to have nothing because here’s the thing is like you get the you get the people that are in the comments on all the stuff, they go, oh, man, of course, you started with a thousand dollars. And I was like, you know what? So one of the other polls I’m going to be doing is like, tell me everybody’s major excuses and I’m going to take three of the major excuses people have and add them to my average. I’m creating so one of them is like, well, I have a nine to five job, so when I get home I’m busy and I’m too tired. So what I’m going to do is I’m going to go find a cash buyer, like immediately and I’m going to say, hey, I know you’re fixing and flipping. I’ll work for ten dollars an hour on your fix and flip crew, obviously. But I have a contractor background so I can bring value to them and I’ll physically work 10 hours a day and I will make pennies. But that’s not how I’m going to get my first night, day one. I’m not going to have any cash. So I got to go figure out how to get cash right away.
Pace: And then I’m only going to be able to work on real estate two hours a day, not all day long, because I want to resonate with an audience that I don’t want people coming back and saying, dude, you had 14 hours a day to work on real estate. I only have two. And by the way, when I work two hours, I’m tired and my kids are nagging at me and that’s why I can’t be successful. So it’s not just a challenge, it’s also an excuse destroyer is my whole purpose behind this is like, give me the biggest excuses people use and I’m going to utilize those as adding those on top of the challenge. And that is awesome. And I’ll fail. I’m sure I’ll have a lot of failures along the way, but in 30 days I’ll show people how to do a deal. There’s no way a guy like you or me in 30 days knowing what we know, there’s no way you can’t do a deal. You know, there’s no way. I’m just adding some elements to it. That’s it.
Joe: And it’s not that hard. There will be that’ll be an awesome challenge when your wife and kids you have 2 kids, right?
Pace: We have two kids. We’re working on a third. And so what I’m going to do is I’m going to make a little bit of money and I’m going to call my wife and say, all right, bring out the RV. You guys can live out here with me for the rest of the challenge, because now I have enough money to pay for an RV park or pay for whatever, and I’ll bring my kids out. So that’ll be my first goal is like first week. How do I get my wife and kids out with me? Right. So let’s say I do it and I don’t know North Dakota or something. Whatever city ends up getting picked first week, my goal is to get my wife and kids with me so they can finish the challenge out with me. And then I have a place to stay rather than living on a park bench like a homeless guy.
Joe: I can’t wait to see that. And I’m definitely going to push it and promote it to my audience because that’s awesome.
Pace: When I figure out this city and all that kind of stuff, I’d love to come back on and talk about it, because what I plan on doing right before it is going on like my top Twenty Buddies podcast and going, all right, what would you do if you if you had to be put in the situation, what would be your first day would be your first action and just kind of see what all the top investors would say. Part of it, I’m curious. The other part is like I need some advice, like what would you really do? And if that if you were put in that situation, you had to start from ground zero with nothing, what would be your first course of action?
Joe: This is it. This is all you need right here. Be on the phone all day for the entire two hours. I would be on the phone, but I mean, that’s awesome Pace. So I want to do another podcast with you. If it’s all right. We’ll schedule this when we’re done. And let’s talk about this plan that you have to go into a new market. That is awesome. I’ve done something similar. It’s a lot of work. It’s not going to be easy, but I know you can do it. And but let’s talk about that. Let’s also talk about in a future podcast, kind of the three to five years, because there’s a lot of people out there that, you know, they do have a little bit of money. I like the three categories. Their budget, no budget, stay at home mom. And I got so many cool stories of stay-at-home moms and dads who found financial freedom doing deals part time. So it’s it’s not an all or nothing thing.
Joe: Right. You can definitely build long term wealth, legacy, wealth, doing just one deal a month. And there’s a lot of people that don’t have to quit their job or have already a good job. They don’t want to quit. They’re just looking to build some retirement income. They don’t trust the IRS or the 401K or all of that stuff. That’d be cool podcast to do that. Cool. So how can people reach you? What’s a good place to go to besides Instagram, Instagram, Pace Morby? Where else?
Pace: I mean they can go on my YouTube, they can go on Creative Finance with Pace Morby Facebook group. It’s a free Facebook group. We have about twenty-one thousand members. It’s only been eleven months since we started that. So I blew up pretty good. And Instagram is probably the best way because I actually answer my DMS and I treat my DMS kind of like email. So if somebody is like, hey, I have a deal or Hey, I have a question or I have a whatever, what I actually do is I reply via video. That’s why I like Instagram. DMS is because I don’t have to type anything. So I can be driving, see some of his message and I can just put a video on while I’m driving, talking to them and it makes it easy. So I’m really, really good. Probably once a day I go through and just clear out all my questions and all that stuff and I do it through video format. So hit me up on Instagram. If you guys have a question about anything or you have deals just like Joe, I have connections nationwide. So if you guys are like I need a buyer in Wichita, I need a buyer in such and such a guy like Joe or a guy like me can probably direct you in the right direction to either find a buyer or get you some resources in any market that you’re in.
Joe: Yeah, this is from Matt right here, Matt Marino. I’m a current customer of Pace. He’s a great real estate investor. He runs a business. He’s an excellent business person.
Pace: Matt Marino is a good guy. Yeah.
Joe: This is from Jaycee. Pace, you’re remarkable, and your approach resonates with me so much, I will be following you nice. There’s so many parts for this. I love having guys like you on my show because I get way more comments. And but this has been a great podcast. And if somebody wants to maybe buy a course or get some coaching from you, where can they go for that?
Pace: It’s really hard to get my course. I don’t even push it. It’s really, really hard to get in. So I would just follow my free content. My course is mostly blocked out at this point, so I wouldn’t worry about my course, follow my content, get into my YouTube. I do a lot of free stuff there. My student base in ten months. We brought on fifteen hundred students. Way more than I expected just because and the challenge of my the challenge with my course is it’s a lifetime course. So like I’ll do, I did 30 hours of content last week live content with my students last week. We have students that are working deals. I have a whole team of people that are available seven hours a day to work deals with my students. It’s an unbelievable product. But the problem is it was so popular that I had to lock it out and like most of the country. So if you guys are interested to see if there is any open spots, I would just hit me up in my dms and I’ll give you a link to see if you’re anywhere, if there’s any availability where you guys live. But for the most part, I don’t push it because it’s been basically sold out.
Joe: Awesome. So get it Instagram. Pace Morby, at Pace Morby, the Facebook group. What was the name of that Facebook group again?
Pace: Creative Finance with Pace Morby.
Joe: Finance with Pace Marby and people can request to join and then there’s probably some questions in there. Yeah. All right, Pace, pleasure having you on my show. Can’t wait to have you back, bro.
Pace: You’re one of my heroes. I appreciate you letting me come on here. Thank you so much.
Joe: Thank you so much. Yeah, that’s all I got for now. Follow pace at Pace Moby, and we’ll see you guys on the next episode. Don’t forget we’ve talked about this book. If you want my book.
Pace: Phenomenal book. I’ve read it twice. Mine’s highlighted. My partner Cody Barton was like, bro, why do you gotta write up all these writing all these books before you hand them to me. I’m like so I give you the cheat code, bro. You know the good you know, all the good stuff. And that’s all it is. All killer, no filler. It’s an amazing book. Guys get that book.
Joe: And I wrote this two and a half years ago, but it’s still just as valid today. You can get it for free. WLOBook.com. WLOBook.com just pay a little bit of shipping and handling there as well. All right, guys, we’ll see you later. Thanks, everybody. Thanks again, Pace. See you guys. Bye bye.
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