All Forum Posts by: Guy Gimenez

I'm in Corpus Christi but have purchased over about a third of Texas. I'll message you my email and you can forward details on each of the properties. I would be looking for a purchase, not a partnership though.

0 Votes

Houston, Texas

Process is simple.

1. purchase contract

2. send contract to title company

3. bring cash to closing and you're done

0 Votes

Indianapolis, Indiana

I spend far less time on BP than prior...the value just isn't there for me.

1 Vote

Most likely one of two issues. (1) You don't have an investment grade deal; or (2) you don't have the relationships yet to assign a contract.

1 Vote

Quote from @Dan Mcguire:

@Guy Gimenez

The deportations will need to be looked at along with all other “plans of Trump”. The suggested deportations will impact rentals if and only if Trump does what he says. It also depends on all the other policies. Let’s suppose the Federal Government deports all these folks as suggested by Trump. The available Labor force will shrink dramatically and the cost of services will increase for landlord and other industries. This policy along with the wonderful idea of tariffs will start trade wars and cause other increases in goods such as appliances, possibly cars or any other imported goods. We would see inflation increase further. The supply of rentals would be impacted, but the final impact will depend on the local market. This may hurt some local markets and ease the lack of supply in other areas. We do know the border had its issues, but currently illegal crossing are lower compared to when Trump left in office.

We live in different worlds my friend. To believe the benefit of cheap labor comes without consequences is absurd. I would go into them in detail but since you said illegal immigration is lower now than when Trump was in office shows that facts are not important. No need to respond, you've already said it all.

5 Votes

Once the taxpayer-funded benefits are turned off and some larger companies are made examples for hiring illegals, many will self-deport. In my area, most illegals live in trashed-out rentals with multi-generational family members or co-workers, so I doubt the housing market will be greatly impacted, at least not in my region.

3 Votes

One of the major issues I see is this. If a newbie doesn't know how to do basic due diligence on an investment, they also don't know how to do due diligence on a coach or how to evaluate a coaching contract to understand exactly what the student will receive for their money. I believe coaching does work, but I also believe that 90% of the coaches are better at marketing / self promotion than they are at doing deals.

5 Votes

Quote from @John Key:

Quote from @Nate Marshall:

Quote from @Jonathan Cooper:

Quote from @Nate Marshall:

Quote from @Jonathan Cooper:

it may be worth it, but keep in mind it is only for sub2, so it certainly will not be enough to give you the proper knowledge for real estate investing

Truth. Most who sign up for a guru's program become captive to it. That's by design. Pace is no different than the leaders of Hamas or the Sinaloa Cartel in that manner.

well, there are gurus and wannabes that's for sure, but if everyone did some research they could figure that out and get the right people to guide them. Investing in yourself is a key.

But on this specific guy, I jumped on a call to explore the program and it was a high pressure sales call, it did not feel organic, not trustworthy and certainly did not feel the right fit.

Why would someone spend 10k on a so niched-down space of real estate when they can get someone for the same amount to teach him/her everything?

He also lost his licenses in Arizona. He is the Madoff of Real Estate Investing right now.

its crazy how he has put accounts in here with only 1 post to talk positive about pace morby's mentorship, this guy is such a scam and I am not the only one exposing him...

All the gurus use that strategy. Third-party referrals work since few people do any due diligence.

1 Vote

Absolute nonsense. None of that is true.

0 Votes

Quote from @Dina Schmid:

Quote from @Guy Gimenez:

1. Check the entire MLS print-out. Many will have a disclaimer stating that the information cannot be relied upon and buyers must confirm all information via their own due diligence.

2. Purchase contract should show the entire legal as platted. If the contract shows the correct legal description but also shows seller is conveying 2.11 acres, and that has not been amended, I think you have a reasonable argument. If you're using the builder's contract form, rest assured it will be very one-sided in the builder's favor.

3. With the potential for a small financial loss on your end, litigation would certainly not be worth the hassle and expense. If you have the legal right to terminate, it would be a better option. If you're not sure about your contractual rights and obligations, seek legal counsel.

Thanks for chiming in.

Contract does state: "Nothing in this Contract shall be interpreted to permit Seller to provide false, misleading, or fraudulent information to Buyer." I know MLS listings aren't guaranteed accurate, but getting the acreage, city and zip code wrong is hard to swallow as an honest mistake.

We have a financing contingency, so if it doesn't appraise for the contract amount due to the lower acreage and different city/zip, we can renegotiate purchase price. That might be our only true recourse.

I don't know what State you're in or if you used a builder contract or the standard State contract form. But you may check if you have to right to object to certain title or survey matters. Texas has this in the boilerplate language and it's a powerful provision. If you're allowed to object and you're still within your objection period, you may want to review your title commitment for objectionable matters that may give you a right to terminate without penalty.

0 Votes

All Forum Posts by: Guy Gimenez

Guy Gimenez has started 48 posts and replied 1999 times.

Post: Need some help! Seeking investor to partner with or to purchase my portfolio

Post: Cash Offer Deal

Post: Are the forums on BiggerPockets getting worse and worse or is it just me?

Post: Subject to exit strategy PLS HELP

Post: Mass deportations: will it affect rental markets?

Post: Mass deportations: will it affect rental markets?

Post: Pros and Cons of Joining a Coaching Program

Post: Is the Pace Morby Subto program worth 10,000 dollars?

Post: Texas Laws on Out of State Investors

Post: Misreprentation (or error?) of Lot Size, City and Zipcode on MLS