All Forum Posts by: Chris Boselli

@Quang Nguyen

Naics code has nothing to do with funding, it’s used for the government for the purpose of collecting, analyzing, and publishing statistical data related to the U.S. business economy

@Chris Boselli:

You avoided answering the question. There is an answer, you just don't know how to handle it.

Well, that scenario is what Pace Morby, dear leader, just did!

Just for giggles, since he is "worth millions" he says in one of his videos, ask him why he just borrowed $100,000 against his personal home from a person rather than a bank and didn't use title!! All recordings are public record - this one is recording #20230452856

What's that about?

And what is most alarming, is he didn't have a title report run for the gator lender. That seems to break a scared rule. What's going on ? How bad does this get? I hope that isn't what he is teaching the "gator community". Seems if they spent more to get a better guru, giving good advice, it would pay off in spades.

Did you know that if you are a gator lender lending in second position (after a sub to mortgage for instance),

and you don't have a title report run,

1. you may not even be lending against the property you are thinking you're lending aginst

2. the person you are giving money to may not be the owner

3. there may be other loans ahead of you on the property which makes your risk much higher

4. you may be lending more than the property is worth and not now it

5. if the guy stops making payments on the first and it goes into foreclosure, you lose your money

That's some pretty serious stuff

Okay, so you buy a property SubTo. You use a gator lender which over leverages the property, so you can do a fix & flip. You save money by not getting a title report or closing through escrow and the deed doesn't get recorded.

Now you find out that there are already two loans on the property previous to your buying it SubTo. The seller's spouse pops up and says they want their share of the sale. You didn't know about the spouse.

Now, what does this "community" offer as a solution?

10 points if you even understand what this means.
0 points and time to get a new community if they don't have a solution.

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@Chida Truong I know this is an old post but wanted to leave my thoughts here as well...

Does the program cost money? 

Yes, it isn't cheap

Should you still do it? 

In my opinion, I think it has been worth every penny. It is not like most paid mentorships I have heard of where it is a one-time pre-recorded web course then a meeting or two per month and thats it, it is a true community. I would say it is up there and maybe even above BP in terms of the level of people who truly give back and want to see others succeed. 

What do I get from the paid mentorship that I cant just find for free online?

Thousands of hours of recorded private zoom meetings about all kinds of subject matter, a weekly calendar of private zoom meetings with other paid members who are leaders in the community going over everything from mindset to underwriting to cold calling and structuring deals, and tons of other free spinoff value add courses etc that Pace puts together. It is truly an amazing community and the value you get for your money is returned 1000x

Ya know after a few years of these posts.. to me bottom line is 8k is not a lot of money sure beats the 30 to 40k other gurus end up getting out of students.. and if you all feel you got 8k value then thats all that matters. its a personal decision.. now to flood social media with this go giver stuff is a little silly but OK.

As a investor / broker/ builder / pilot with 50 years in the industry the one thing that I think is dangerous though is unleashing all these beginners who really dont have the capital behind them and showing them and encouraging them how to get into properties with mortgages is others names and the sellers being to naive to understand the huge risk.   You know the whole sub too with no money needed pitch.. thats simply wrong.

Other than that all the other things that get talked about are nothing novel or new just novel or new to newbies.. and you have to hand it to the power of social media and a well financed media campaign that has taken place. It sure worked many drinking the cool aid..

Best of luck with it all. but at this point I think most on BP get the message about this program.

Appreciate the feedback Jay! He definitely does market his business a lot but what business owner wouldn't, just a new age with social media. Nothing different than Brandon Turner's "No money down" book I guess...

Concepts definitely aren't new and 95% of deals still require some cash, but just like Brandon Turner's book it simply lays out some alternative options to your standard "go get a loan from the bank" buying/selling real estate methods. I have only been investing for ~5 years myself, but current market conditions force even the best of them to adapt or die!

That being said I don't get anything out of sharing this just leaving my honest opinion so others can make the best decision for themselves, best of luck with your business

Just for giggles, since he is "worth millions" he says in one of his videos, ask him why he just borrowed $100,000 against his personal home from a person rather than a bank and didn't use title? All recordings are public record - this one is 20230452856

What's that about?

And what is most alarming, is he didn't have a title report run for the gator lender. That seems to break a scared rule. What's going on ? How bad does this get? I hope that isn't what he is teaching the "gator community". Seems if they spent more to get a better guru, giving good advice, it would pay off in spades.

Did you know that if you are a gator lender lending in second position (after a sub to mortgage for instance), 

and you don't have a title report run, 

1. you may not even be lending against the property you are thinking you're lending aginst

2. the person you are giving money to may not be the owner 

3. there may be other loans ahead of you on the property which makes your risk much higher

4. you may be lending more than the property is worth and not now it

5. if the guy stops making payments on the first and it goes into foreclosure, you lose your money

That's some pretty serious stuff 

I don't have anything to do with the "gator" program so I can't really speak to that one! My post was regarding my experience with the mentorship, community, and value that I feel it brings so everyone can make their own decision. Not trying to sway anyone either way.

Also not sure about the specific transaction you are talking about, but if you saw it on YouTube it is likely just a marketing move to drive attention and traffic to his work (which seems to have worked here!). You obviously need to protect yourself in this industry, and not running title or sending money to any person/entity outside of escrow is one of the primary things is a big no no 

Sure, but a rich mentor who needs to borrow $100,000 against his own property?

Seems a little suspect about either what he teaches, his ability to manage money or his "success". I’d be cautious.

 That could be related the $1M or so lost earlier this year in that crypto scam thing. Seems like Gator Lending thing is ripe for scammers too. I wonder how much vetting is actually going on or if there are any protections in place for rampant scamming in "the community". I know "it's a community" and "it's forever" and they're all go-givers there, but if some of them end up being takers things could get ugly quick. 

that was the issue with the connected investor site.. totally full of scammers.  BP does as good as job as possible trying to filter out the bad guys that come on this site to try to scam BP members but the scammers still get through they always will.  I am sure there are scammers on Morby sites as well you just can help it in today's world of everyone relying on the internet and SM to find business relationships.

100% agree, scammers abound no matter where you look. Only going to continue to get worse with the digitization of things like notaries, etc.

Pace + his team recently organized a Zoom meeting with the Attorney Generals of Utah and California where they discussed some of the new big scams in the world of real estate...One of the biggest things they are seeing is people falsifying ownership of raw land and listing on MLS for big discounts WITH RE AGENTS and then selling as if they own the land.

Title closes, money is transferred, then the cash disappears into offshore accounts. Actual owners of the land, new owners, title companies, and even RE Agents who represented fake buyers now all left to pick up the pieces with huge legal implications for title and agents, some pretty scary stuff

Your comment:"Not trying to sway anyone either way." is actually pretty funny as you go on and on defending Pace Morby.

@Chris Boselli: Your comment: "Pace + his team recently organized a Zoom meeting with the Attorney Generals of Utah and California"

I must correct you. The attorney general of the state of California was NOT on his podcast. The guy introduces himself as an Investigator for the AG in Alameda county. That is a heck of a difference and the AGs office of California would likely send you a "cease & desist" order for a stunt like that.

When a devotee of a guru pushes misinformation, there can only be two reasons

1. He is being paid a LOT of money to shill for him or

2. He has no idea how to separate truth from fiction and is a danger to invest with.

Anyway, you do an awful lot of arguing for Pace Morby even though you claim to not care one way or the other what people do.

There is something fishy here.

One thing Pace said in the podcast (which I watched) was to "watch out for gurus who borrow money".  Which he just did to the tune of $100,000 in second position, against his personal home, with no title search (alarm bells go off) by a gator lender, probably from his retirement account, a non accredited borrrower.

Does that even seem wise?

I've had my say "Buyer Beware"!

 My friend, why would I post a positive review strictly for feel good of a community? I have my Marine Corps community, my Law enforcement community, my church and family communities - but those do not equate to the best financial decision I have ever made... If you do deals you know what I meant haha, come on now. 
I have purchased more deals because of the community, I have shifted not just what I buy but how I dispo what I buy because of the insight from those in this community. It is NOT about feeling good, it is about doing good. As I stated before my friend, if it is not for you then it is not for you; but for those who want like minded people to connect with - who you can look someone up in any state in the country and have a network of buyers within an hour, or raise PM rapidly... then its a community worth being in. 

But by all means, read between the lines and look for a toxic interpretation of a good thing. My continued success and those in subto will not be impacted from you not joining a community. It actually doesnt matter at all to anyone what you DONT do... 

You do NOT need to join subto to be successful. You also don't need to raise PM but it definitely helps to not do it all on your own ! Cheers to your success regardless of what you do or dont do! 

Appreciate the feedback Jay! He definitely does market his business a lot but what business owner wouldn't, just a new age with social media. Nothing different than Brandon Turner's "No money down" book I guess...

Concepts definitely aren't new and 95% of deals still require some cash, but just like Brandon Turner's book it simply lays out some alternative options to your standard "go get a loan from the bank" buying/selling real estate methods. I have only been investing for ~5 years myself, but current market conditions force even the best of them to adapt or die!

That being said I don't get anything out of sharing this just leaving my honest opinion so others can make the best decision for themselves, best of luck with your business

Just for giggles, since he is "worth millions" he says in one of his videos, ask him why he just borrowed $100,000 against his personal home from a person rather than a bank and didn't use title? All recordings are public record - this one is 20230452856

What's that about?

And what is most alarming, is he didn't have a title report run for the gator lender. That seems to break a scared rule. What's going on ? How bad does this get? I hope that isn't what he is teaching the "gator community". Seems if they spent more to get a better guru, giving good advice, it would pay off in spades.

Did you know that if you are a gator lender lending in second position (after a sub to mortgage for instance), 

and you don't have a title report run, 

1. you may not even be lending against the property you are thinking you're lending aginst

2. the person you are giving money to may not be the owner 

3. there may be other loans ahead of you on the property which makes your risk much higher

4. you may be lending more than the property is worth and not now it

5. if the guy stops making payments on the first and it goes into foreclosure, you lose your money

That's some pretty serious stuff 

Ya know after a few years of these posts.. to me bottom line is 8k is not a lot of money sure beats the 30 to 40k other gurus end up getting out of students.. and if you all feel you got 8k value then thats all that matters. its a personal decision.. now to flood social media with this go giver stuff is a little silly but OK.

As a investor / broker/ builder / pilot with 50 years in the industry the one thing that I think is dangerous though is unleashing all these beginners who really dont have the capital behind them and showing them and encouraging them how to get into properties with mortgages is others names and the sellers being to naive to understand the huge risk.   You know the whole sub too with no money needed pitch.. thats simply wrong.

Other than that all the other things that get talked about are nothing novel or new just novel or new to newbies.. and you have to hand it to the power of social media and a well financed media campaign that has taken place. It sure worked many drinking the cool aid..

Best of luck with it all. but at this point I think most on BP get the message about this program.