All Forum Posts by: Miron Briley

I have built a soon to be multimillion dollar business using Paces subto and gator community. This is a family of go givers and is WAY more than a course. The community is for life and I would say the best community in real estate.

I have met and partnered with numerous students Paces leadership encourages us to network and be go givers. This type of leadership creates an unbelievable family I would call it of remarkable action takers.

I met my business partner Heather in Gator and we are now doing $20k per month in private capital partnerships, we acquired our first padsplit subto and have multiple resorts/businesses we are looking at.

Do not hesitate to join us and be one of our next partners and friends. 😉

So if we join we get a lifetime membership into an awesome community of remarkable go-giver action-takers. That's awesome. Any actual deals or measurable results that you can put on the record?

Inside the mentorship we get access to a private Facebook community, if I showed you a clip of the deals that are closed or for assignment daily it would would boggle your mind. There are teams in there that are buying 5-10 a week easy. We have 7 for assignment right now ourselves.

A large volume of properties being traded with little to no equity, to buyers with no experience or capital using subto and wraps... what could possibly go wrong? Sounds like a giant house of cards. What if we start to see property values going negative (which we are currently in many sub-markets). Yikes. Lot's of risk here for the sellers if these rookie buyers start to default, am I wrong? Questionable strategies can work in a booming market, which we've had over the past few years, but no longer have.... playing with subto in a declining market is like catching falling knives.

You seem like a peach!!

Taking over a 3.5% interest rate paying $1,400 monthly piti and getting $2,200 a month on rent. Who cares if the equity goes down, am I making money?

How does the 'no equity' make a house payment default ? "am I wrong?" Sorry, Yes you are wrong.

Your little blurb has plenty of idoms but no real backing.

The person who is suffering is the seller you can't help as an agent because their home went down in value and has to become a landlord all of the sudden because you won't take a look at this as a solution. Yikes. Lots of risk for default for your sellers who have higher payments and rent rates haven't caught up. 😬

The problem with subto (which I'm not opposed to as a strategy in certain circumstances by the way): is it's not actually a low capital strategy like the gurus teach. Most of these properties are distressed or have serious problems keeping them from being sold for maximum price on the market (or else why would the seller go the subto route?). Your example is great until that $2,200 a month stops coming in, and the deferred maintenance and cap ex issues become a problem, keeping it from being rented. An experienced investor who is well-capitalized can deal with the issue and continue making payments, without harming the seller or their credit. Some rookie investor who got into subto last week because they paid for a program and joined an awesome community, with limited capital and no experience dealing with the many various issues that properties can have... will they keep making the payments for a year and dumping capital into the problem until it get's resolved, while the property is losing equity as the market shifts? Nah, they won't, and there's the risk in the strategy as it seems like it's being taught by certain gurus.

You might be legit yourself, at least you have more than one post on here, but it sure looks like somebody is spending a lot of money on virtual assistants creating new BP accounts tonight...

You said "Most of these properties are distressed or have serious problems keeping them from being sold for maximum price on the market (or else why would the seller go the subto route?)."

This part of your post screams inexperience.

We own four subtos - with no problems what so ever. zero repairs.

The ones we have for assignment, 90% of the deals we get are newer built and need nothing.

Your idea of what subto is based off of what you think it is. Again no real backing.

BUT IN GENERAL, if you buy a house that is older , or doing a bad job on vetting your tenants yes absolutely things will happen to your houses. But PLENTY of people here in these forums are getting 7% - 8% loans to buy their first BR with the same issues. its not confined to seller finance or subject to type of closings, difference is we are over here taking over 3% loans.

0 Votes

Destin, Florida

Quote from @Chris Barrett:

Has anyone posted not to? People are allowed to be skeptical. I think the hundreds of 1 posters that flood every Pace related topic is more closely aligned with the definition of spam.

Has anyone posted not to? ☝🏼 3 posts up.

Someone posting an experience with a mentorship / group, in the correct category, is a well placed post.

Someone who takes the time to troll those posts, with no experience in the mentorship to say, "No dont spend the money on this" but having no experience in it , is spam .

Its like telling someone to not buy a Prius because they drive like crap, and are dumb cars, but you've never put your tush in the driver seat .

0 Votes

Destin, Florida

Hey Rinda!! Good to see you!

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Quote from @Wesley Whitehead:

Quote from @Miron Briley:

Quote from @Account Closed:

Quote from @Justin Rush:

Hey BP,

After spending >50-55 hours of watching and researching Pace Morby's videos and training; looking to get some actual students insight on the ROI of the program. Everyone in the forums continually say, "all up to the person, made back my money and more", without ever saying how many deals they've done, what Intrinsic value was provided, etc. seeking ACTUAL results, ACTUAL deals done, ACTUAL ROI please.

For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.

Want to get a last sanity check before forking out > $11,000 in the program membership.

Any and all feedback welcomed.

I've actually asked several times on several threads that are promoting Pace Morby, for the same information you are seeking. I Got "Crickets". No responses. No one reported a verifiable deal even after their glowing post.

Like This:

PACE MORBY GATOR METHOD COURSE REVIEW

https://www.biggerpockets.com/...

Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.

That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.

For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw

30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner

And

40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance

Crickets are loud over here

How's this for a chirp. I'd like to set up a zoom call and here about your experience and ask about some of the deals you've done. I can promise 1) I won't debate you on the validity of Pace's mentorship 2) I will ask many in depth questions and ask if you do JVs.

I have do something similar with Pace's students through both BP and his FB page. The BPer and BP bailed, the FB person tried to sell me on the gator lending method even though I mentioned that I am only interested in being an end buyers for Sub To deal.

Ball is in your court Miron, you gonna talk as confident as you sound behind a keyboard or scurry away.

Jiminy

What I find interesting is all of these people posting to NOT do it, but they have zero experience with the Mentorship,
Read your forum rules . that's considered Spam.

1 Vote

Destin, Florida

Quote from @Wesley Whitehead:

Quote from @Miron Briley:

Quote from @Account Closed:

Quote from @Justin Rush:

Hey BP,

For reference, I have capital, time , and a relentless work ethic. I was seeking the membership program to leverage economies of scale and ultimate velocity of my capital.

Want to get a last sanity check before forking out > $11,000 in the program membership.

Any and all feedback welcomed.

PACE MORBY GATOR METHOD COURSE REVIEW

https://www.biggerpockets.com/...

Personally, I push for people to use their money to do a Joint Venture with someone who is experienced and learn from that someone, that which is necessary to close deals.

That way you get "hands on" experience, actually making money, doing deals rather than becoming a member of a group that "wants" to do deals. There is a huge difference.

For subto that we own we have an midterm in Abilene Tx, Padsplit in Killeen TX , Montgomery TX that we did a wrap mortgage , another wrap in Virginia , another rental in dfw

30 units Corpus Christi seller finance 50 year note, we partnered with Pace as our capital partner

And

40 units in Knoxville TN we took down with partners 3% IO payments for 30y am, 5 year balloon seller finance

Crickets are loud over here

Absolutely - send me a dm if my email doesn't come through

0 Votes

Destin, Florida

Let's go Jared! We wholesale in Dallas, and all over Texas.

0 Votes

Dallas, Texas

I just have my transaction coordinator fill out those contracts.

0 Votes

All Forum Posts by: Miron Briley

Miron Briley has started 6 posts and replied 57 times.

Post: Wholesaling near Dallas

Post: Seller Financing Contract

Post: Pace Morby Program

Post: Pace Morby Program

Post: Pace Morby Program

Post: Thank you Bigger Pockets and Pace Morby!!

Post: Pace Morby Program

Post: Pace Morby Program

Post: Wholesalers Near Dallas (Looking for Buyers and Wholesalers)

Post: Newbie to the real estate game