All Forum Posts by: Chris Barrett

I have no doubt that it has helped people, but at a entry cost of 7800 to buy into the community you have to wonder how much return those members are actually getting. Also, his marketing material to reel people in straight up lies and I'm not interested in having anything to do with someone who employs those methods.

^ That's what I was waiting for. It seems like Pace started out as a legitimate RE investor and mentor, but now all his material, marketing, and tactics stink of MLM Guru BS artist.

It's a purchase, not a deal :-D Hey if you need to write off your losses for a couple years, you can reduce your taxes!

You need to come up with your costs to purchase, your expenses while operating, expected income from STR - STR operational costs.

What is the average occupancy for a studio condo in knoxville, and average nightly rate? What will your PITI be? How much will it cost to furnish it?

Other options would be to list it as a medium term rental, or short term rental - but on both of those you'd be out more cash to purchase all the furnishings.

Determine a metric you care about, such as CoC return, or ROE, or IRR, or monthly cashflow amount and use those measurements. 1% rule is just a do the math in your head thing, but in appreciating markets you'd never find any deals to buy if that's all you use.

Also keep in mind on conventional loans, the seasoning period is 12 months for a refinance if you purchased with financing that put a lien on the property (pretty much any lender besides private money).  That makes doing BRRRR way more difficult.

*Did not pay for the training*

It appears to be a method to lend wholesalers earnest money and make supposedly extremely high returns. It really falls directly into the "sounds too good to be true" bucket. From what I can tell it's an unsecured loan, so if the transaction falls through the seller could keep the money and the wholesaler would somehow have to pay you back. Going to court to retrieve 5k would be really expensive...

https://www.trustpilot.com/rev...

Hundreds of reviews, all on the same day raving about how great the program is. 

A True Go Giver!

He is a go giver!

Amazing, caring, and biggest GO GIVER.

Anyone who is legitimate doesn't need to use either VAs or bot farms to blast fake 5 star reviews.

I was about to sit through the "Live In-Depth Training" this weekend, but won't bother. In one of the youtube videos he has someone offer 5k of EMD for a return of 3k. If this were a real thing, everyone would be making money this way for a 2000% return.

Also the clear use of bots to leave reviews both at BP as well as trustpilot and other websites is a huge red flag to the legitimacy of Pace's organization. I won't be giving any of my money to Pace, but I'm still pretty disappointed.