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Pace Morby and his gator lending tribe
Hello BP community,
I’ve recently gone down on a black whole on youtube about Pace Morby. Specifically his gator lending videos and his community. I’ve looked into joining his gator lending tribe for 3000. But I’m a bit hesitant. Has anyone one on here joined his community and seen results. It almost seems to good to be true.
Quote from @Account Closed:
There's so much negativity in this forum. I am surprised. It's funny because bigger pockets isn't even mentioned in gator. There are a lot of opinions from people who have no first-hand experience. I think I won't come back again. Good luck to all of you
Jennifer has three posts, all in this thread, and she shows zero evidence to suppor what she's peddling. Her profile says she's a Gator/Transactional lender, so she makes money by being part of the program. LOL!
It is basically a group of beta incels trying to act like alphas. They just proved my point by now calling themselves alphas. Andrew Tate and Logan Paul types. Why would you want to associate with them. Are the branch davidians not recruiting?
Quote from @Nate Marshall:
Quote from @Robyn Cerone:
I joined Pace's Gator tribe in January and have learned a great deal about funding wholesalers EMD and private money lending. I have made some money, but more so on the private money lending side which Pace really has not delved into thus far, although, we are told more specific training is coming on this. I work directly with other private lenders who have been doing this far longer than Pace's program who have established a great track record of ongoing incoming deals and have legal systems in place. Convenient is the word I would use for PCS. They are best for anyone who just wants to get their entities set up properly with the correct documentation and anonymity and move forward. Being new to real estate, I was not aware of articles of organization and operating agreements etc. And they handle all of this for you. They also provide tax services which I do not use, too expensive, and help you establish lines of credit for your business. Can't speak to this as I really have not seen the benefit so far. What I can say is, I have made back what I paid into the program and have been welcomed into a community of like-minded people who go out of their way to help and bring each other deals. There's always going to be that one person here or there that Is all about themselves, but I can honestly say I have not met them yet in this community. My network has grown substantially in the real estate space, through Pace I have made many friends, and have learned a great deal about creative finance along the way. Take that for what it is. I am naturally an introvert and so this community has helped me come out of my shell. Paces staff works diligently to answer all questions in a timely manner, I have even reached out to pace on Instagram myself and he has answered my questions personally. Weekly live zooms and trainings are happening all the time. There's a lot of hand holding that goes on, no one is left behind. New people come into the community all the time and it has gotten quite competitive out there for lending, but if you can build a rapport with fix and flippers and wholesalers and you are fair in what you charge as a return on their lending request, you will have a borrower for life. And repeat business is the name of the game. Please feel free to ask me any additional questions, I'm happy to share what I've learned.
PCS is overpriced. There are 2 companies in Wyoming offering the same service and actually better service for less than half the price.
Quote from @Robyn Cerone:
I joined Pace's Gator tribe in January and have learned a great deal about funding wholesalers EMD and private money lending. I have made some money, but more so on the private money lending side which Pace really has not delved into thus far, although, we are told more specific training is coming on this. I work directly with other private lenders who have been doing this far longer than Pace's program who have established a great track record of ongoing incoming deals and have legal systems in place. Convenient is the word I would use for PCS. They are best for anyone who just wants to get their entities set up properly with the correct documentation and anonymity and move forward. Being new to real estate, I was not aware of articles of organization and operating agreements etc. And they handle all of this for you. They also provide tax services which I do not use, too expensive, and help you establish lines of credit for your business. Can't speak to this as I really have not seen the benefit so far. What I can say is, I have made back what I paid into the program and have been welcomed into a community of like-minded people who go out of their way to help and bring each other deals. There's always going to be that one person here or there that Is all about themselves, but I can honestly say I have not met them yet in this community. My network has grown substantially in the real estate space, through Pace I have made many friends, and have learned a great deal about creative finance along the way. Take that for what it is. I am naturally an introvert and so this community has helped me come out of my shell. Paces staff works diligently to answer all questions in a timely manner, I have even reached out to pace on Instagram myself and he has answered my questions personally. Weekly live zooms and trainings are happening all the time. There's a lot of hand holding that goes on, no one is left behind. New people come into the community all the time and it has gotten quite competitive out there for lending, but if you can build a rapport with fix and flippers and wholesalers and you are fair in what you charge as a return on their lending request, you will have a borrower for life. And repeat business is the name of the game. Please feel free to ask me any additional questions, I'm happy to share what I've learned.
Thank you so much for sharing this Robyn, this is exactly what I hear when I personally reach out to those that have joined either Gator or SubTo. I had the privilege to meet Pace and the 200+ ppl that just "showed up" to a Miami meet up yesterday. It was truly incredible to connect with others who want to grow and help eachother.
@Angel Hagen Best part about your REIA is you didn't have to drop 3K. I find it comical that the proponents of these programs mention the network/community and everything they've learned first as opposed to posting hard facts about THE DEALS THEY HAVE DONE (if they have done one). If someone were to post the number of deals they have done and give hard facts (cash invested, $ in cash flow, CoC return, door acquired in a specific timeframe) then detractors like myself would disparage these programs less.
Quote from @Nate Marshall:
Quote from @Wesley Whitehead:
@Angel Hagen Best part about your REIA is you didn't have to drop 3K. I find it comical that the proponents of these programs mention the network/community and everything they've learned first as opposed to posting hard facts about THE DEALS THEY HAVE DONE (if they have done one). If someone were to post the number of deals they have done and give hard facts (cash invested, $ in cash flow, CoC return, door acquired in a specific timeframe) then detractors like myself would disparage these programs less.
Most have never owned their own home. Pace has his incels find people to hard sell and shame into paying thousands of dollars.
Not how I would have put in but I do agree with you statement. Heck, I fell for the guru gimmick as well when I first started investing and like you mentioned I didn't own a home (I was contracting overseas). On a positive note, I also won't fault the gurus for their MLM philosophy. People will hear what they want to hear and if they hear "I will make 100K/month in passive income by signing up for this program and not really have to work hard" that's on them not any guru. When need to ask themselves hard questions about whether they will do what it takes to reach the level of success they envision and also be realistic about what strategies they are implementing to achieve their level of success.
Quote from @Wesley Whitehead:
Quote from @Nate Marshall:
Quote from @Wesley Whitehead:
@Angel Hagen Best part about your REIA is you didn't have to drop 3K. I find it comical that the proponents of these programs mention the network/community and everything they've learned first as opposed to posting hard facts about THE DEALS THEY HAVE DONE (if they have done one). If someone were to post the number of deals they have done and give hard facts (cash invested, $ in cash flow, CoC return, door acquired in a specific timeframe) then detractors like myself would disparage these programs less.
Most have never owned their own home. Pace has his incels find people to hard sell and shame into paying thousands of dollars.
Not how I would have put in but I do agree with you statement. Heck, I fell for the guru gimmick as well when I first started investing and like you mentioned I didn't own a home (I was contracting overseas). On a positive note, I also won't fault the gurus for their MLM philosophy. People will hear what they want to hear and if they hear "I will make 100K/month in passive income by signing up for this program and not really have to work hard" that's on them not any guru. When need to ask themselves hard questions about whether they will do what it takes to reach the level of success they envision and also be realistic about what strategies they are implementing to achieve their level of success.
I think people are being taken advantage of by this guy and his henchmen. When they aggressively try to recruit people the way they do people get hurt financially. I am glad that Coffeezilla is about to expose Pace and his crimes!
Quote from @Nate Marshall:PCS is overpriced. There are 2 companies in Wyoming offering the same service and actually better service for less than half the price.
Hello @Nate Marshall, I would like to know if I could reach out to you to get more information on the 2x companies that you mentioned above. Looking to create a WY holdings LLC, and my TX LLC to hold my soon-to-be first property.
Quote from @Nicholas Davaul:I'm curious, why do you think you need an LLC and what do you think it will do for you?
Quote from @Nate Marshall:PCS is overpriced. There are 2 companies in Wyoming offering the same service and actually better service for less than half the price.
Hello @Nate Marshall, I would like to know if I could reach out to you to get more information on the 2x companies that you mentioned above. Looking to create a WY holdings LLC, and my TX LLC to hold my soon-to-be first property.
A few reaons: Anonymity, Asset Protection, Baseless lawsuits that have happened to my friend with his real estate, seperate business/personal assests/liabilities. But mainly, it's for privacy/anonymity.
But it wouldn't be just one LLC, it would be two.. A Wyoming LLC, and that manages/owns the Texas LLC (Where I will have my properties).,
i've heard/read/listened to Pro's/Con's for each side. Some think they are needed, some don't.
Quote from @Nicholas Davaul:
A few reaons: Anonymity, Asset Protection, Baseless lawsuits that have happened to my friend with his real estate, seperate business/personal assests/liabilities. But mainly, it's for privacy/anonymity.
But it wouldn't be just one LLC, it would be two.. A Wyoming LLC, and that manages/owns the Texas LLC (Where I will have my properties).,
i've heard/read/listened to Pro's/Con's for each side. Some think they are needed, some don't.
Got it. It can provide some anonymity, if done correctly. I use my attorney’s address, so all correspondence goes to him and he forwards it to me. If someone wants to talk to my attorney, they are free to do so. I think it also cuts down on junk mail and junk text messages. :-)
And it does give some structure for separating investing from personal. In my recent IRS audit, the agent appreciated that point.
But then there is this
New Federal Law Requires LLC Disclosurehttps://www.forbes.com/sites/joshuastein/2021/02/18/new-fede...
Quote from @Nicholas Davaul:
//llc
Quote from @Nate Marshall:
Quote from @Wesley Whitehead:
Quote from @Nate Marshall:
Quote from @Wesley Whitehead:
@Angel Hagen Best part about your REIA is you didn't have to drop 3K. I find it comical that the proponents of these programs mention the network/community and everything they've learned first as opposed to posting hard facts about THE DEALS THEY HAVE DONE (if they have done one). If someone were to post the number of deals they have done and give hard facts (cash invested, $ in cash flow, CoC return, door acquired in a specific timeframe) then detractors like myself would disparage these programs less.
Most have never owned their own home. Pace has his incels find people to hard sell and shame into paying thousands of dollars.
Not how I would have put in but I do agree with you statement. Heck, I fell for the guru gimmick as well when I first started investing and like you mentioned I didn't own a home (I was contracting overseas). On a positive note, I also won't fault the gurus for their MLM philosophy. People will hear what they want to hear and if they hear "I will make 100K/month in passive income by signing up for this program and not really have to work hard" that's on them not any guru. When need to ask themselves hard questions about whether they will do what it takes to reach the level of success they envision and also be realistic about what strategies they are implementing to achieve their level of success.
I think people are being taken advantage of by this guy and his henchmen. When they aggressively try to recruit people the way they do people get hurt financially. I am glad that Coffeezilla is about to expose Pace and his crimes!
Yes. I have 45 LLC's. 2 in Colorado, 1 in South Dakota, a new one in Alaska but the rest are in Wyoming. All pros. No cons. Sending you the info.
Quote from @Account Closed:
Quote from @Nicholas Davaul:
A few reaons: Anonymity, Asset Protection, Baseless lawsuits that have happened to my friend with his real estate, seperate business/personal assests/liabilities. But mainly, it's for privacy/anonymity.
But it wouldn't be just one LLC, it would be two.. A Wyoming LLC, and that manages/owns the Texas LLC (Where I will have my properties).,
i've heard/read/listened to Pro's/Con's for each side. Some think they are needed, some don't.
Got it. It can provide some anonymity, if done correctly. I use my attorney’s address, so all correspondence goes to him and he forwards it to me. If someone wants to talk to my attorney, they are free to do so. I think it also cuts down on junk mail and junk text messages. :-)
And it does give some structure for separating investing from personal. In my recent IRS audit, the agent appreciated that point.
But then there is this
New Federal Law Requires LLC Disclosurehttps://www.forbes.com/sites/joshuastein/2021/02/18/new-fede...
Wyoming is #1, followed by SD, then Alaska. Only then Delaware and Nevada. Wyoming has the best cope as well. Charging Order Protection Entity. You want that and you get it in Wyoming.
Quote from @Account Closed:
Quote from @Nicholas Davaul:I'm curious, why do you think you need an LLC and what do you think it will do for you?
Quote from @Nate Marshall:PCS is overpriced. There are 2 companies in Wyoming offering the same service and actually better service for less than half the price.
Mike, No one "needs" an LLC to get started. But after consulting my accountant on this, I do agree it best to keep personal and business separate. It also depends on how many properties you plan on holding, renting,etc. With a holding company and a registered agent, personal information is still possible to find, but not nearly as easy.
Hello @Nate Marshall, I would like to know if I could reach out to you to get more information on the 2x companies that you mentioned above. Looking to create a WY holdings LLC, and my TX LLC to hold my soon-to-be first property.
Quote from @Robyn Cerone:
Quote from @Account Closed:
Quote from @Nicholas Davaul:I'm curious, why do you think you need an LLC and what do you think it will do for you?
Quote from @Nate Marshall:PCS is overpriced. There are 2 companies in Wyoming offering the same service and actually better service for less than half the price.
Mike, No one "needs" an LLC to get started. But after consulting my accountant on this, I do agree it best to keep personal and business separate. It also depends on how many properties you plan on holding, renting,etc. With a holding company and a registered agent, personal information is still possible to find, but not nearly as easy.
Hello @Nate Marshall, I would like to know if I could reach out to you to get more information on the 2x companies that you mentioned above. Looking to create a WY holdings LLC, and my TX LLC to hold my soon-to-be first property.
Got it. It can provide some anonymity, if done correctly.
I use my attorney’s address, so all correspondence goes to him and he forwards it to me. If someone wants to talk to my attorney, they are free to do so. I think it also cuts down on junk mail and junk text messages. :-)
And it does give some structure for separating investing from personal. In my recent IRS audit, the agent appreciated that point.
But it doesn't give you much asset protection or save you on taxes.
Hello I'm thinking about joining only know one realtor I'm in Greenville Ohio would I need to travel a lot to be part of community to bigger cities
Wow. An eye opening thread. Thanks everyone that contributed. Saved me 3k.
There are ways to do this without paying him!
