All Forum Posts by: Jason Fontes

Pace Morby's Subto mentorship is the best available. Not only will you have access to curriculum that teaches you the details about multiple different strategies, but you'll be in a community of people doing every piece of RE at a high level. The accountability groups, friendships, and partnerships that come from the community is where the value is at. Sure, you can learn about many of the RE methods on YouTube for free. But getting access to this community FOR LIFE is worth the price of entrance. 

Additionally, the mentorship continues to get better over time. Since joining a year and a half ago, Pace has launched additional programs that cover topics such as social media presence, learning Transaction Coordination, and business acquisition. All of this comes at no additional cost, meaning the mentorship becomes more and more valuable with no more investment into it (other than your time). 

These reviews are not fake. They're just from grateful students. 

I am currently looking to get into my second multi family home. My first property is a multi family joint owned between me and my business partner, we have an equal stake in the property. Naturally we split the income on our Tax Returns, but have never had to pay a mortgage payment out of pocket, our tenants cover the entirety of the mortgage payment.

In trying to get my second multi family I am working with a lender that is currently running my income and debt numbers. For their calculations the lenders are making me responsible for the ENTIRE debt sum of the first property (not half). Which I totally understand, considering their reasoning is if something where to happen to my business partner I would then be responsible for the whole mortgage payment. However, they are only allowing HALF of the income (mine) to be valid income. When in their "worst case" scenario of the other business partner not being a factor, I then would inherit ALL of the income and it wouldn't be an issue.

I'm curious is this is a standard of ALL lenders? Or is this lender just not really making sense? Are there ways to work around this? To me it would seem that the debt from the first property should almost be null and void considering it doesn't effect my current income in any fashion.

Hey biggerpockets forum, 

I am currently looking to get into my second multi family home. My first property is a multi family joint owned between me and my business partner, we have an equal stake in the property. Naturally we split the income on our Tax Returns, but have never had to pay a mortgage payment out of pocket, our tenants cover the entirety of the mortgage payment. 

In trying to get my second multi family I am working with a lender that is currently running my income and debt numbers. For their calculations the lenders are making me responsible for the ENTIRE debt sum of the first property (not half). Which I totally understand, considering their reasoning is if something where to happen to my business partner I would then be responsible for the whole mortgage payment. However, they are only allowing HALF of the income (mine) to be valid income. When in their "worst case" scenario of the other business partner not being a factor, I then would inherit ALL of the income and it wouldn't be an issue. 

I'm curious is this is a standard of ALL lenders? Or is this lender just not really making sense? Are there ways to work around this? To me it would seem that the debt from the first property should almost be null and void considering it doesn't effect my current income in any fashion. 

I'll be selling one of my properties in April, and I'm hoping to reinvest that capital into my first STR.

I love the Arizona area, and I hope to get involved in this market by investing here with a STR.

Where are some of the best places to buy an STR here? My current list includes: Peoria, Mesa, Goodyear, Gilbert, and maybe Phoenix.

Any insight would be much appreciated! 

Cheers, 

Jason