Why Most Private Money Lenders Lose Money - and How to Avoid It!

[@PaceMorby]

Which rule surprised you the most? Is it something you’ve learned the hard way, or maybe something you hadn’t considered before? Share your thoughts and help others learn from your insights!

[@jasperatighe5967]

I have a quesstion which is not directed to this video. In some videos you say airbnb is your exit strategy for example in one of your videos with Cardone (The Hawaii property I think) In other videos you predict airbnb is rubbish and should go out of business in 5 to 6 years. Should I cancel airbnb as an exit strategy in a sub-to and or seller finance deal? I'm a raving fan by the way

[@freewillchoice8052]

Didn’t get past the opening statement in front of the white board with all those rules on it where you said even though you follow all these rules expect to lose every penny.

[@tombujnowski9349]

This video was so important to hear. Most of us are TOO trusting.

[@DaybreakOffers]

So many valid points here. My top rule is don't lend on a property I would not want to own.

[@davidwilkersonjr5964]

You be dropping booms of great knowledge. Thank You.

[@davidwilkersonjr5964]

Thank you Pace. I wish this massage was out last year.

[@scottmadden3810]

This video was an eye opener - so good

[@douglasplowman3712]

8:58 You’d be well served to eliminate the Dropbox aspect and have all of your recordings, communications, assets, etc all automatically integrated and saved into your CRM. This would save you a ton of time, keep you organized, and help your team to better communicate with leads leveraging all of this info in one central client account record.

[@PaceMorby]

My team does all that once I finish with dropbox. Super simple. Keeps me away from the CRM.

[@AmajeGivens]

I feel like finding a legit buy and hold Buyer for this property so I can get a better wholesale spread cause they don’t need much as a discount as a fix and flip. that will change my life 😀

[@KreativeMike]

Aweosme video .Thanks pace “kreative mike “

[@lexnite22]

Damn, money lending is scary if you don't cover every base. PLaying a game of "What if..." is a good reality check

[@andythoang]

Rules

[@Whatever0704]

In a scenario where I lend money to a borrower and I get a first or second position on a property with equity. Is there anyway I can limit the risk or even prevent that the current owner will create Junior liens. I do put it in my contract that they are not allowed to put Junior liens on the property. But there’s no real way that I can actually prevent it

[@juliebee61]

I have lost $. I won't lend anymore. Nobody does what they say they will. Wish I knew this 2 years ago.

[@PaceMorby]

The first training on did on this was in June of 2020. It was a 6 hour video in the SubTo Vault. Since then we calculate that we have done about 100+ hours of training on this. The lenders get fomo and fund deals they shouldnt is the biggest problem I see.

[@KreativeMike]

Sorry to hear that Julie . I’ve heard great things about you in subto

[@AgroJackie]

The ability to have discernment and patience is essential in life

[@AgroJackie]

I really want to become a gator. I'm scared that it will be hard for me to communicate due to how frequent my tics can be. I want to try anyways. I just can't help but have doubts when it comes to communication due to how strongly my disorder affects that.

[@heavygunner03]

Don't lend money. Period , I did everything this guy is talking about, and still lost tens of thousands. You're not a bank, you're not the mafia. PML is a dangerous thing unless you're one of those.

[@matthew8661]

Iphones are for Little girls I actually like having Control of My device and customization and not following the world and the sheep to the slaughter as everyone brainlessly buys what ever companys make

[@TheAndrewRousselJourney]

I've been working my tail off for the last couple days. I just submitted my first JV suub✌️ offer, i'm gonna make it into the sub✌️ community one way or another💪💪 thank you for the inspiration pace🫶