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All Forum Posts by: Steven Grant

Steven Grant has started 1 posts and replied 4 times.

I am skeptical that securities law would allow the conversion of a note to happen automatically upon notice rather than through a more specific legal and accounting process. If securities were created there should be some evidence of the security and the ownership as well. I doubt whether such a notice would be legally sufficient to be evidence of the newly created ownership in equity.

Post: Non Cash down payment?

Steven GrantPosted
  • Posts 4
  • Votes 5

Thanks Jason. I was being a little too creative:)

Post: Non Cash down payment?

Steven GrantPosted
  • Posts 4
  • Votes 5

Hi folks,

I am looking to purchase a multifamily property. Does anyone know if a bank (or other lender) would finance the purchase of an investment property where the down payment was non-cash consideration, such as an interest in an LLC? If yes, could the transaction be structured so that the seller was given a membership interest in the LLC that is purchasing the property?

Thanks!

Quote from @Nat Love:
Quote from @Allison Wong:
Quote from @Charles Beltran:
Quote from @Jeanna Lichtenberg:

Did anyone sit through the free online "live" webinar? I did this morning. I doubt it was actually live. It was mentioned several times that no one could see the chat, but Pace assured us that he could see all our comments, and he would occasionally comment on the alleged comments. He even asked his assistant if he could get the chat turned on. (Of course, it never worked.) Any comment you made went "To admin only."  But a message from "Team Pace" would come through that said "Pace's team can see your chats, it's due to a tech error but all is working and good!" I made a comment about the earnest money that contradicted what he had said about it. Then when I made another comment that it was convenient for them that no one could see any comments made, my access was immediately terminated. I went back to the webinar through a different device and saw that they had also added a link to access his Gator Method for $2,997. Of course, it's for a limited time only, then they are going to "shut off the Gator Method" for about a year. It all seemed rather sketchy to me.


 05/27/2023 - :) Yeah, it's a recording. The same exact thing was stated in the training that took place just a few minutes ago. There were a few hundred on, and he said that he saw the "thousands" of people on. That confirmed. :)

 Yeah, definitely a recording. I picked up the same things too. I've just watched the "gator method" today. I feel like it's overpriced, but if you do get that value out of the course then it will be worth it.

Is definitely worth it so far IMO. I’ve been a gator for about 2 months now and Pace’s community is amazing. There are definitely ways around the various costs, but you can also learn those thru the community members. If you are new to REI and want to be immersed in it, try it, won’t work for everyone, but worked for me. 
Calling @ Nat Love:)
Your BP colleagues are waiting to hear the specifics as to why you say the course is working for you. A positive word from you could turn things around here where people are beginning to feel the course is a scam. My two cents is that the non-live broadcast is a commonly used marketing tool If it was "live" when it was first broadcast, then it is not a "scam" in my opinion but a rebroadcast that does not disclose that fact (not as professional as it could be). As for the concerns that this method is just a loawn of earnest money to folks that may not pay you back if they don't close, I would agree unless Pace Morby's tean does some type of credit vetting of the people who borrow and in turn will report to credit bureaus unpaid Gator money. In addition, Pace Morby's team could have systems in place to vet the deals for which loans are sought. If Pace's team is vetting the credit of the Gator borrowers, vetting the actual deals of the Gator borrowers, and facilitating reporting of deadbeat Gator borrowers, then I see some real value. Unfortunately, all of this is from my imagination as I have not enquired. I hope @ Nat Love will let us all know:) Holla at us!