Do This One Thing FIRST Before You Try Real Estate Investing

Do This One Thing FIRST Before You Try Real Estate Investing

Pace Morby has one “golden rule” of real estate that saved him from disaster. How did he come up with this “golden rule”? He first had to make a royal mistake, lose out on tens of thousands, and risk financial ruin. Thankfully, you DON’T have to make the same mistake as Pace because we’re going to tell you how to follow this rule to a tee! If you’re about to buy your first rental property, house flip, or do your first wholesale deal, write this DOWN.

Pace goes through a “three bedroom two bath” house that he bought in Tempe, Arizona, which ended up being a complete disaster. We won’t spoil why it turned out so horrendously, but let’s just say Pace didn’t do the one thing EVERY real estate investor should do when he bought it. After scrambling for a solution, he was able to just nearly walk away from this deal unscathed. But if you try something like this, and it goes wrong, you could lose a MASSIVE amount of money.

Want to see more “After the Deal” episodes? Are there any top real estate personalities you’d like on the show? Let us know in the comments below!

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How to Spot Scam Wholesale Deals:
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7 Reasons You Don’t Need to See a House Before You Buy It:
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Connect with David:
BiggerPockets: https://www.biggerpockets.com/users/drichter?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @richterscale91 or https://www.instagram.com/richterscale91/
Profit First for Real Estate Investing: https://simplecfosolutions.com/profit-first-david-richter/
Website: https://simplecfosolutions.com/
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Connect with Pace:
BiggerPockets: https://www.biggerpockets.com/users/pacej?utm_source=youtube&utm_medium=description&utm_campaign=none
Wealth without Cash: https://store.biggerpockets.com/products/wealth-without-cash?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @pacemorby or https://www.instagram.com/pacemorby/

00:00 Pace Morby’s Deal Gone Wrong
01:45 The $188K College House
02:56 Making Every Mistake
04:25 DON’T DO THIS
05:45 The “Nightmare” Begins
08:53 Rule 1. ALWAYS Drive By
09:29 Do This ONE Thing First
11:45 Turn Lemons into Lemonade


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