In this episode, Steve Trang interviews Pace Morby about the urgent threat AI poses to traditional businesses and why real estate investors must adapt immediately or risk being left behind. Pace shares his experience of losing $9 million in business value due to AI disruption and reveals his strategy of focusing on affordable housing, RV parks, and mobile home communities as recession-proof investments.
AI is already decimating traditional businesses - Pace's virtual assistant company dropped from $10M to $1M value in 18 months due to AI cold-calling tools
Focus on affordable housing, RV parks, and mobile home parks as they're government-backed and recession-proof investments
Wholesaling is a 'gateway drug' meant to provide capital for acquiring cash-flowing assets, not a long-term business model
1:55:06Josh Stech, founder of LendingHome and Sundae, shares how he built a billion-dollar real estate lending company in just five years, scaling to 14% market share. He discusses the venture capital playbook, hiring at scale, maintaining culture with 500+ employees, and his transition to solving the property sourcing problem for investors through Sundae's marketplace model.
1:47:49Tommy Mello, founder of A1 Garage Door Service, shares his journey from massive debt to building a billion-dollar company. He discusses critical business lessons including the importance of systems, hiring for attitude over experience, and how he scaled from a local garage door business to a nationwide operation that sold for $570 million.
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The people who will survive AI disruption are those with soft skills like sales, leadership, and the ability to hold people's hands through processes
You have approximately one year to adapt to AI tools and processes before getting completely left behind by competitors
”“Wholesale people don't wanna hear the truth. The truth is wholesale is a gateway drug. It you're not meant to be in kindergarten, first grade, second grade, third grade, and fourth grade for the rest of your life.”
”“You are being given a gift. You have five freaking years before you are cooked. And so this does not push you forward as fast as humanly possible. You're gonna be stuck in this maze.”
”“I have survivor's guilt. I have a brother that hung himself. He went down a completely different path than I went down. Same mom, same dad, same circumstances, but my brother somehow went down a different path.”
”“We have one customer that was spending $12,000 a month with my virtual assistant company, and they were getting an average of three leads a day. Now it's like you spend a thousand dollars at Prop, and you can generate 400 leads in a day.”
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Pace Morby: Wholesale people don't wanna hear the truth. The truth is wholesale is a gateway drug. It you're not meant to be in kindergarten, first grade, second grade, third grade, and fourth grade for the rest of your life. It's hard to automate. Why?
Because you have to have salespeople. Those salespeople have to be humans, and salespeople are the worst people on the planet to have as employees because they are entrepreneurial minded, which is also what is needed for that role. I look at that, I'm like, that's not a business that I can really walk away from. Like, think about wholesale if you go, yeah, I'm gonna walk away from a wholesale business for six months and I'll come back and it's thriving. I can't name one.
Neither can I? The only person I know that has really truly scaled wholesaling was Jamil Dank. He's the only person I've known that has scaled it to a point where he doesn't need to be there. But how did he do that? He has an incredible wizard named Hunter and another partner named Josiah that run that business day to day that Jamil doesn't have to be there.
Steve Trang: Welcome, and thank you for joining us for today's episode of disruptors where millionaires are made. Today, we have Pace Morby, and he's here to talk about really anything and everything about what is going on right now. There's a lot of there's a lot to be paying attention to right now. Now, guys, I'm still on a mission to create a 100 millionaires. The information on the show alone is enough to help you become a millionaire.
In the next five to seven years, if you take consistent action, you'll become one. And before we jump in, if you're here to learn how real entrepreneurs are building real empires, hit that subscribe button right now because every week we're dropping lessons that can create your first or next million dollars. And today's show is brought to you by objectionproof.ai, the only free tool that analyzes sales calls based off the Objection Proof selling formula. You ready?
Pace: What's up, brother?
Steve: What's going on?
Pace: You know what's interesting is seven years ago, I think, when I first came on the show, maybe eight years ago Mhmm. We would have never been talking about objection handling AI. No. The world has changed dramatically. And, thank you so much, by the way.
You've made me a millionaire. I've learned so much from you. Sales training, how to live life, how to be be a good father, wholesaling, all of the great things. And people ask me, hey. What's a podcast that you listen to?
Like, who are you learning from? I'm like, Steve Trang's still one of those people I still listen to. Real Estate Disruptors podcast literally disrupted the entire industry when you first started it. What year was it? 2016, '17?
Steve: 2018. 2018.
Pace: 2018. And I have a plaque in my studio from you all the way back from 2018. This show absolutely changed my life. And I guys, I promise you, like, if you guys are watching the show, subscribe to this channel. Go back and watch some of the OG, episodes.
I promise you they are worth it. People nowadays just wanna be spoon fed, like, what's the newest information? Because, oh my gosh, I might be missing something. You are missing something. And it's a lot of the OGs that made this industry what it is.
Steve interviewed them, and he is one of those people. So thank you for having me back, dude. This is the best best podcast ever.
Steve: I appreciate you, saying all that. So it does mean a lot. You know? You're you're obviously doing lots of things. You know?
I sent you kind of a sarcastic, you know, text. Like, have you done have you done anything recently?
Pace: Yeah. Since the last show, I was like, I don't know.
Steve: Right. So it's been three years. So, a lot's gone on. You were on you had triple digit flips
Pace: Mhmm.
Steve: And right now, there's not.
Pace: Yeah. We had so Jamil, Damji, and I who have been on the show, on your show a couple of times, one of your best friends and mine, We had a TV show on A and E called Triple Digit Flip. We were the number one TV show, six year contract. They renewed us for another 30 episodes and we turned them down. And, the reason we turned them down, it was last year in 2024, is I just said, I wanna be known for actually changing the industry, not just changing a backsplash.
Steve: Mhmm.
Pace: And, like, if all I'm going out there and people know me as a fix and flip guy, I'm in the the, airport and people I'm sitting there going pee and somebody comes over, are you based more me from triple digit flip? Like, yeah. Dude, I love that backsplash you guys did on house number three. I'm like, okay. I do not want to be known as this guy, especially with all the things that we had going on.
So Jamil and I said no. And we've been, working on other things the last couple of years, which is a lot of fun.
Steve: Well and I I appreciate the, the integrity and consistency behind all this because I I don't know if you remember, but when we were in, Houston Mhmm. In, a whole scaling live Yeah. You gave a whole presentation, and it's all about emotional income. Mhmm. Like, I'm not worried about the money.
The money is the furthest from my mind. Right. Am I actually making emotional deposits in other people? Am I actually making the world a better place? Yeah.
Because if I'm not, then what are we doing here? Yeah.
Pace: And I I was talking to somebody yesterday. I was in Philadelphia. I have a student, a sub two member named a whole community after me. He's building a whole community, and he named it Pace Way. And I went out there and met the Philadelphia mayor, and we did a ribbon cutting ceremony.
It was cool. And I was sitting there at dinner with, Doron Levy. Shout out to Doron. And he's like, why do you do the stuff you do? Like, why are you always out trying to do crazy things and change people's lives?
And I go, honestly, I'll I'll say it. I've never said this out loud. I have survivor's guilt. Mhmm. Like, I have survivor's guilt.
I have a brother that hung himself. He went down a completely different path than I went down. Same mom, same dad, same circumstances, but my brother somehow went down a different path. And we were best friends all the way growing up, and then we we get into our twenties, and my brother kills himself. And you I I went through this survivor's guilt.
When my brother asked me for help, it was two months before he he killed himself. And I said no. And I look back, and I go, I could've done something about that. Do I blame myself? Yes.
I do. Do I have, like, I'm a horrible person? No. I just learned from it. And I'm like, if somebody asked my help, better yet, how about I don't wait for people to ask for my help?
How about I create mechanisms?
Steve: Mhmm.
Pace: How about I create things much like you? Right? Like, what you're building in in in your world and your empire. How about I just build things that help people in their life without people asking for it? And so I've been on that mission since my brother passed away of, like, I feel guilty that I said no to helping him, and I have a hard time saying no to people still to this day.
Steve: So, I've never talked about this publicly. So one of my best friends, he killed himself. Mhmm. You know, when we were I think we were 24, around there. And it it's you look back.
Right? Like, he'd asked for help, and we helped where we could. Yeah. But we don't know the depths at times when they're asking for help. And so, like, one of the things, you know, his sister had, given, another one of our close friends and myself, his journal when he was actually, in psychiatric care, which I we didn't even know he was in psychiatric care.
And you're reading through it. It's like, man, like, you just don't know. Like, even if you're friends, you don't know. Because, like, this is the point where, like, you know, we all went to high school together, but I went to ASU. He went to U of A.
We've gone on with our careers. Like, we were I was a groomsman in his wedding. Like, it was just crazy. You don't know what people are going through.
Pace: Well, what's crazy is you it's like he probably made comments to you that were, in your mind, throw away funny joke comments. But, yeah, like, it was really a cry for help. Right? And so, yeah, the TV show, like, turning that off, I just felt like we weren't doing any good for the industry. We were making money.
People recognized us in airports. I couldn't go to In N Out Burger without somebody tapping me on the shoulder. My wife was recognized everywhere as she should be. She's a bombshell. I got myself a cutie with a booty.
You know what I'm saying? Like, I'm I got really, really lucky with my beautiful wife, Laura.
Steve: You did.
Pace: And, I I look at we were recognized, but I was like, okay. That's not why I got into it. I wanted to get people off the couch. Mhmm. I wanted people to say, hey.
Because of what you did, I my life changed.
Steve: You wanna inspire action?
Pace: I wanna inspire action, which is really hard to do through a TV show. Through a podcast, it's actually really easy. I've met thousands of people that have said, oh my gosh. That episode that you and Steve did together, blah blah blah blah changed my life.
Steve: Right.
Pace: I'm sure you get that all the time. DMs, texts, all that kind of stuff. By the way, guys, DM this man. DM him on Instagram. Be like, bro, your show has, has changed my life.
My favorite episode is x, y, and z. Go tell this man.
Steve: Yeah. Thank you for that. Of course. Okay. So you you were talking about, like, when we started this it's very funny.
Like, the very first time you came on, we were talking about just wholesaling. Mhmm. And it's the first time we talked about scorching the earth and the sales philosophies, which we also got a lot of people upset about the whole scorching earth deal.
Pace: Of course. Yeah. Because they're they're newbies, and they look at the fact that it's like, well, I don't have all those things, and you're basically keeping me out of the industry. Just bring your deals to me, baby. We'll do them together.
Steve: But, yeah, we weren't talking about objection proof. We weren't talking about AI. Right. So, one thing you're passionate about the moment is AI.
Pace: Yeah. I I think probably fearful is the right word.
Steve: Okay.
Pace: I'll give you a good example. So I have a virtual assistant company. We had an offer on it, five years ago for $10,000,000. Five years I I'm like, we could build it bigger than this. Why would we sell it right now?
It's $10,000,000, you know, me and my partner. And we turn it down, and here we are five years later. I'm barely able to sell it for a million bucks. Mhmm. Why?
Because the 300 people that I have in The Philippines that are physically calling are so limited compared to companies like Prop dot ai, for example. Like, one of the companies we use there's a bunch of companies, but the company we use for cold calling is Prop dot ai. And I don't have an affiliate code or anything. I don't get paid to, like, promote it. But Prop will this is crazy.
We have one customer that was spending $12,000 a month with my virtual assistant company, and they were getting an average of three leads a day. So that's 36 leads a day for 12 VAs. Pretty decent. It's kinda run of the run of the mill. And for those 12, they were spending about $18,000 a month.
Okay. $18,000 a month for 36 leads a day times 20. So you're, like, 700 leads in a month worth the $18. Yeah. Two years ago.
Steve: Mhmm.
Pace: Now it's like you spend a thousand dollars at Prop, and you can generate 400 leads in a day. Yeah. It books the appointment for you, has the full on conversation. What's weird about it now is the seller or even the agent depending on who you're calling. And now Prop will even call private money lenders, which is scary.
It will call them, and you can listen to the call. And the agent, the seller are both preferring to talk to nonhumans for their first introduction call. Mhmm. Because they can be a lot more honest. Right?
Because people haven't learned how to be good on the phone like they should with you. Right. And so that whole business decimated my cold calling business. Like, within the last eighteen months, I had a $10,000,000 business. Now it's worth 1,000,000.
Steve: I was talking to someone about this a couple weeks ago. If there was a way I could short a country
Pace: and this sounds terrible. Philippines.
Steve: I would short The Philippines.
Pace: One day all day long. Sadly, I have 300 employees there, and I would also short The Philippines as well. Because what's their number one, you know, product is sales and, like, customer service and
Steve: Virtual assistance. Virtual it's
Pace: a virtual assistant. Not really sales. It's like the warm up process to give it to a salesperson who's actually trained.
Steve: But even the the monotonous redundant tasks. Yes. Like, that for sure is gonna take him to AI.
Pace: Yeah. We this is what we this was interesting, dude. Like, recently, we go, alright. Well, let's reposition all of our virtual assistants to be people's executive assistants because that's a lot harder to replace with. And now all of a sudden, AI agents are coming out and people just buy one five thousand dollar AI agent that lives lives forever.
And it does literally every executive assistant task all night, doesn't sleep, and it's a one time fee for $5,000. I'm like, okay. We're toast.
Steve: Mhmm.
Pace: Like, that business is toast. It's gone.
Steve: Yeah. So what are your what are your plans?
Pace: Well, there's just a lot, like, to to think about. Right? Like, you have kids. What are your kids gonna do?
Steve: So it's funny. So What
Pace: are you gonna tell your daughter to do?
Steve: So she's right on the other side of that wall. Right. Last week was her first day. She first started. Summer
Pace: job. K.
Steve: Right now, she's working on all my websites Mhmm. Right now with the intention for her to learn how to use AI to re do all the websites.
Pace: Okay.
Steve: The skill I want the skill I want her to learn is to be excellent with AI. There you go. Whatever she wants to do, I don't care what she wants to do. Mhmm.
Pace: She
Steve: needs to know how to do it well with AI. She needs to be on board, learn things from it. Right? We don't know what the future holds. All we all we can do is stay ahead of the curve.
Right away, stay ahead, pay attention. There's a quote that I I learned, from one of my other mentors. I can't remember who he quoted. It was go as far as you can see and then see further.
Pace: Yeah.
Steve: And that's all I'm asking her to do. Like, just take AI as far go as far as you can with AI and just keep your head up Yeah. And you'll be fine. If you don't
Pace: You're toast.
Steve: Everyone's passing. Anyone that's not doing it like, we've said this with our, with our tool. If you're not using our tool in a few months, you're just gonna get passed. Because, like, to your point about, like, you know, your VAs, someone right now paying four or five, cold callers versus what our tool is gonna do, you just pay us a few $100 a month Yeah. And you replaced all your all your cold callers.
Pace: It's not even like, think about this. This is just to add on top of this, guys. Like, let's talk about where this is going. For the people that are not on x, you're not on Twitter, you're not on these places, you're not consuming this content like I am, it is happening at such a grand scale that we can't even imagine until you go and actually watch and see what's happening. So, people I've been on stage.
I I was on a Tony Robbins stage recently, and I had a guy stand up and go, you're a fear fearmonger. You're telling I go, dude. Okay. Cool. DM me, and I'll give you some proof.
This is a couple of quick stories. I'm in the Montana Airport. I I'm there. I lived there in summer. So I am on Floor 1, and I see this floor cleaning robot walk like, zooming through.
And I walk up to it. I'm like, let me kick the thing, and let me just play around with it. And it's like, hello, sir. I'm an AI. Can you please get out of my way?
And it pauses and has a full conversation with me. I'm like, okay. That's cool. Yeah. So then I go to the 2nd Floor, and I see another one of these cleaning robots.
And I walk up to him, like, maybe I kick it in the back. Mhmm. It won't and I'm just messing with it. You know? Yeah.
And I get up there. I'm like, why is this thing not moving? Oh, it's not moving because this is a man operated floor cleaning machine, and the human is in the bathroom, which it's parked next to, on a break. I'm like, that if that's not telling you exactly what's gonna happen with the economy, that one downstairs ain't going on no breaks. Yeah.
It's not asking to be unionized. It's not asking for a raise, a bonus, a this. And more importantly, it doesn't need to be onboarded. It doesn't be need to get a pep in a step. It doesn't say I got a flat tire.
I can't show up to work. It doesn't say any of those things. So any of those excuses, if that exists in any of your world I don't know if you guys saw this. Amazon just deployed a 100,000 robots in their warehouses this week.
Pace: Oh, really? I
Pace: understand. Week. Because what happened was you saw this big unit union thing swelling up on the East Coast with Mhmm. With, Amazon. And within six months, bro, they went and just bought a 100,000 robots.
Right? You're toast. Bye. See you. Yeah.
Okay. So I go to a barista. People go, oh, I wanna have a human experience. No. You don't.
I think in sales, when you're talking about, like, I wanna buy a house. I wanna sell my house. I think that those are very protected, places for a while, at least ten, fifteen years. For a
Steve: while, I don't think it's that long. But anyway Okay.
Pace: I'd love to have that that conversation. Baristas. Let's look at baristas. K? Korea already has seven Starbucks that have baristas fully automated with robots.
It's already happening in Starbucks. What do you think is gonna happen the next three years here in America? I go to Starbucks the other day. I go through the line, and I order a tall vanilla bean frappuccino. I don't know what's on the thing, but my wife asked me to order it.
The person says, would you like whipped cream on there? I go, yeah. Hell, yeah. I'll have whipped cream. Mhmm.
Cool. Next day, I come back, and I go, oh, I'll make the barista's job a little easier. Tall vanilla bean frappuccino with whipped cream.
Steve: Yeah.
Pace: The barista comes back. He's like, it already has whipped cream. It's already one of the ingredients. You don't need to tell me that. I'm like, you got any robots I could talk to?
You know what I'm saying? Like, people I'm telling you the
Steve: You're looking at that. For myself, I have I can't drink milk. You know, for myself, every time I get something from Starbucks, I ask for coconut milk.
Pace: My wife too. And guess what they do? They mess it up.
Steve: They mess it up. It's like you take a sip. It's like, damn it. I gotta go back in or throw it out.
Pace: I I gotta go back in and take a dump immediately because I'm gonna I'm gonna blow my brains out because I have lactose intolerant or whatever it is. Same thing with my wife. If she has any a drop of milk, she is has a stomachache for three days.
Steve: Yeah. So it was like a robot, I can rely Yeah. Is gonna make that right. Human, they get busy, they get overwhelmed, they're overdue for break. I don't know.
They didn't sleep last night. Whatever it is. Right. What about operate a 100%.
Pace: The other thing is people will argue with me, and they'll go, no. People want the human experience. I'm like, bro, people are having less sex. People aren't getting their driver's license. Kids nowadays are not us.
They have completely different desires
Steve: Mhmm.
Pace: Or lack thereof, right, type of thing. Most kids. Not your kid, not my kid.
Steve: Yeah.
Pace: So I I look at the job environment. I go, what is my one year old child, Phil? What is he going to do in ten years, fifteen years, twenty years? I know one thing. I know one thing that I've come up with, maybe two.
K? I think people that can actually persuade the storyteller, somebody who can actually move people, like a person that can move people, so a salesperson, a, you know, a coach of some sort, like an actual personal development center. A leader. Right?
Steve: Yeah.
Pace: You can't replace those people. Mhmm. That's gonna be really hard to to replace those people. Number two, an owner of real estate. An owner of real estate, and I'll tell you why.
When all these people don't have jobs and the government is just flooding money in through HUD, section eight vouchers, and all that kind of stuff, I've got a big project right now, a 102 unit. Like, I'm calling it my super sec you know, the super eight motels? Yeah. This is my super section eight. I bought a 100 so I bought a 102 unit, mo motel, and we're converting it into an apartment building, all creative finance, which is awesome.
Yeah. And section eight is coming in and paying for all 102 doors, $1,400 a door right down in, like, the worst possible area. If you are not focusing on affordable housing where the government will literally just pay your your bills, I don't know what you're doing. Like, I'm in RV parks, mobile home parks, and affordable multifamily is where I'm primarily focusing. And then in single family, I'm mostly selling my single families I bought since 02/1615 all the way through, and I'm ten thirty one ing those into single family that are co living or shared housing, like, pads split or what have you, or I'm rolling into the other three asset classes.
I'm staying away from anything luxury. Mhmm. I'm not saying luxury won't exist. I'm saying luxury will exist at a big level. That's just not the game I'm gonna play.
Steve: Right.
Pace: It's gonna become the haves and the have nots. And I think the have nots are gonna be so much more of a surplus of opportunity that I'm that's where I'm attacking. I'm attacking that. So people that are focusing on Airbnb, you're cooked. Like, goodbye.
Mhmm. Airbnb is out the out the window, and it has been. You've seen the last two years. Like, mostly
Steve: been a struggle for sure in Scottsdale.
Pace: Oh, yeah. Everybody nationwide. I had 75 Airbnbs, in Atlanta, Georgia a couple years ago, then they outlawed it. The Marriott Group comes out and just fries everybody, right, almost overnight. So I sell a bunch of assets.
I reposition them into midterm rentals. I do a bunch bunch of other things. And I'm like, okay. I'm not gonna focus on luxury housing. I'm not gonna focus on anything that pisses off the hotel industry.
They have a lot more money. Yeah. They do. I'm gonna go focus on affordable housing where government will literally give me grants or give me the things. And so that's where I've been focusing my time.
And I look at it and go, and in five years, if you right now watching right now, I think the AI revolution is possibly the greatest thing that can happen to people that have been sitting on the sidelines going, I just need think about the your coaching clients. Right? Think about the people I've I've coached over the last several years. You get people that come to you. Why?
Not everybody, but let's say 15% of people come to you and they go, Steve, I've been watching your stuff. I know that there's money on the other side of my action, but I really just need the accountability to get over that hump. Right. Okay. So I think the AI is the is the cat in the maze, and I'll tell you what that means.
So, there was a study being done on rats, and they were going, alright. Well, we need to come up with the best rat poison on the planet. So let's change out the food that is on the other side of the maze, and let's time how fast the rats move from the beginning to the end of the maze where the food is. Mhmm. And let's switch out from salami to sardines to this to that.
Like, what's the stinkiest thing that we could get those rats to run their ass off to go as fast as they possibly can because they have this compelling future. Right? I know there's a something in the trap. Well, they had tested hundreds of different foods, variations. Let's put sardines on top of this, and let's mix it with tuna.
Let's let it rot for five days. Like, they did all of those things, and they found foods that ultimately turned into the rat poison that we see today.
Steve: Mhmm.
Pace: K? But what was interesting is they this one of the scientists there were seven scientists on the project. One came in and he goes, hey. You know what? I got an idea.
Let's put the scent of a cat in the maze Mhmm. And let's just see what happens to this rat. Yeah. And so they put the scent of the the rat in the center of the maze. What does it do to the rat?
It freezes the rat. It does not move. It will not go. Even though it can smell the food, it freezes the
Steve: rat.
Pace: Nothing at all? Nothing. Does nothing. Analysis, paralysis. Where's the cat?
Where's the cat? I know there's cat. There's cat. There's cat. I don't know where the cat is.
Oh my gosh. Right? So it's a lot of people trying to get started in sales or real estate or wholesale or fixing it. Whatever. There's there I don't know.
I don't know what's gonna happen, but I know there's danger out there, so I better not do shit. Mhmm. Right? Okay. Well, here's the thing.
That same scientist is like, you know what we should do? We should take that cat scent and put it behind the rat Mhmm. And see how fast it runs now so we it knows it's behind it. Mhmm. And that cat scent being pumped in behind the rat made that rat run twice as fast towards the other side of the maze than any food ever did.
Right.
Steve: Of course.
Pace: And so the there's that old quote that I I remember, and I know you too do too, is that people are more afraid of loss than they are motivated by gain. Right. And so there's the people that are like, I know real estate will change my life. I know sales will change my life. I know these things will change my life, but I'm afraid.
Okay? But that's because the cat was in front of you. I'm telling you with AI, the cat's being put behind you. You are being given a gift. You have five freaking years before you are cooked.
Yeah. And so this does not push you forward as fast as humanly possible. You're gonna be stuck in this maze. You're you're you're cooked. The rat the rat the thing the rats are all gonna die.
Steve: I completely agree with you except for one thing. What? I don't think it's five years. I think it's, like, a year at most.
Pace: You think a year?
Steve: I think this recession we're gonna have is gonna be catastrophic.
Pace: I think you're right. I'll tell you a couple of things.
Steve: So The only reason why I don't think it'd be the only reason why I think it'd be longer is because there's not enough people playing with AI. I think that's the only reason.
Pace: It's adoption. Yeah. All day long. Like, there's people I hang out with. I was just I just spoke for Brandon Turner, in Austin on Monday, and shout out Brandon Turner.
Have you had him on the show?
Steve: I haven't. I should
Pace: get you to get him on the show.
Steve: Love to have him on the show.
Pace: Awesome. Awesome, dude. So I speak for him in Austin, and I'm talking to some people in the hallway, and I'm like, do you realize how AI is, like, gonna cook all of us? Bro, they're not even they they would have to know something about it to be in denial. They are so far removed.
They're in, like, twenty nineteen mindset Mhmm. Of, like, they're still scrolling on Zillow. They're still manually cold calling. They're, like, writing things down. And these are people in their thirties.
These are not sixties and 70 year old people. Yeah. Right? So I think that you're right. The adoption is actually what's going to prevent people it's like the human beings are going to stop the adoption, And what's gonna happen is the world's gonna change around them that they were gonna be forced to adopt it like Circle k.
Look at Circle k. You go into Circle k. Do you need to talk to a human to buy some shit?
Steve: No. You got the scanner.
Pace: I got the scanner. In fact The
Steve: scanner is amazing.
Pace: I've tried to trick that son of a thing. I'm like, I had a donut one day and I stuck a thing of gum under it, and I was like, this stupid robot can't it caught it. And I'm like, I could've I could've tricked the human. I could've put the gum under need the donut, and I could've gotten some free gum. Yeah.
Not that I'm trying to jack gum, but I'm just trying to point out a thing that these robots are better than the humans. And it's slowly slowly integrating into our life.
Steve: So we launched Objection Proof AI. Yeah. It hasn't been two months. We literally have hundreds of people in there that are going through using AI to review their sales calls automatically, role playing with the bots. The people that aren't using it Getting left behind.
They're getting crushed by the people that are working with us. Right. I don't know how else to put it. I don't wanna sound cocky or arrogant. It's just like, if your worst sales guy is getting better every single day because they're practicing with their role play bots and they're reviewing every single call, you know, like, most sales teams, they've got, like, one or maybe two good sales guys.
Yeah. Right? Everyone we're working with, everyone on their team's gonna be good.
Pace: It's like the there's a story. I won't go into the whole story. There's a story about two farmer brothers, and they hated each other. They were both gifted the same size of land from their father across the street from each other. And they would continually compete with each other.
Like, who's gonna wake up earlier? Who's gonna produce the most grain? Who's gonna make the most money? Like, f you, bro. I should have gotten that piece of land.
Your dad should have never you know, all of that. And they went back and forth, and the only way that they can compete with each other in any sort of meaningful meaningful way was at the time, was wake up earlier, stay out later. Right? Get another horse. Mhmm.
Right? Spend more money on a living, breathing animal. Yeah. Then one brother brings home a tractor one day, and he saved up his money. He didn't get it.
He he spent his money on on the tractor, and he was done literally. This is what's crazy about this. This is a real story, by the way. He gets done now by noon versus what he couldn't get done by, let's say, say, 08:00 every single day. So he just goes to his brother and goes, you can't compete with me.
Yeah. So how about you just sell me your farm? And that's what he did. That's where we're at. That's where we're at.
And so the people that are, you know, spending the money on the tractor, which would would be your guys' app or your guys' software, those people two months ago, three months ago, had the same competitive advantage. Now they have a tractor. You're gonna gobble up everybody else. Yeah. And they have no choice but just go, it's yours.
Right? I see it all the time right now in our in the wholesale industry. I see people that are not adopting AI and not adopting efficiencies, and they're bloated. They have way too large of teams, and their payrolls are huge. And it's like, man, for one per person on your team, you gotta get an extra wholesale deal every single month just to pay for that person, which means that person has gotta get two deals every single month.
Okay. But AI can bring in three deals, and it cost me the same amount of money whether it gets one deal or three.
Steve: Right.
Pace: Right? And it's a thousand bucks. So you're right. It's, it's an unfair competitive advantage, and the people that are jumping into it and waking up early and staying up late and doing the weekends and, like, actually researching it are winning. And that's what's gonna I think it's a gift.
For the people that are using it as a gift, it's a gift. Yeah. For the people that are not, that are, you know, ostrich and head in the sand, they're you're cooked. You're freaking cooked. So I I look at the Airbnb people.
This was me three years ago. I was telling all our friends that are Airbnb people. Some of them were like coaches saying Airbnb is the greatest thing. I'm like, this that model is gonna be gone. AI is coming out.
This is when Chat gbt was, like, not really quite a thing, but I knew about it. Really? Yeah. It was like nobody was talking about Chat gbt three years ago. Yeah.
I knew about it. I was on Twitter watching all this stuff happening. I'm like, oh my gosh. Is this real? And so I told him, I go, dude, here's what's gonna happen.
The economy's gonna crash. There's nobody gonna be vacationing. Marriott Group is gonna come here and gobble all this kind of stuff up. Airbnb is gonna be gone. Not like a 100% gone, but what's gonna happen is the top 10% will rise to the top.
The 90% will it will be so bad for them that they will just have to leave the industry out. And that's exactly what happened. What happened is Airbnb comes in and goes, man, 400,000 people on our platform are not performing properly because they're so overwhelmed with their nine to five job. They're, like, solo operators. They're not using systems and processes and AI and all this kind of stuff.
Because the experiences are so bad. They took 400,000 houses on the platform four months ago. Did you see that? I did not. 400,000 houses off the platform.
The luxury vacation market, all of that kind of stuff, it's going away. And so if you are in real estate or if you're wanting to get into real estate, I would suggest focus on affordable housing. RV parks, mobile home parks, they're there's not just they dominate in down markets. They are superior in every possible way. Somebody asked me the other day, what do you do for a living?
I go, I rent dirt. And what do you mean? Well, I buy RV parks and mobile home parks on seller finance and sub two. I then just rent the dirt to people and I make income. Like, my I have two RV parks in Montana.
That just those two RV parks, I could never worry about money ever again. Mhmm. And the majority of the people living in the RV parks are who? You think, oh, they're recreational vehicles. Right?
They're RVs. No. They're people going, we tried to retire on Social Security. Inflation went up so bad that we cannot live a normal life. So we had to hit the road and live in an RV because we can live in your RV spot for a thousand dollars a month utility.
And now we just live here for every single month. There's a thousand bucks to live.
Steve: I've been hearing more and more about people just living in RVs. Yeah.
Pace: I saw it happening five years ago when COVID hit. I saw that that you could not get an RV and go, oh my gosh. Where's the world going? Mhmm. Oh,
Steve: I remember because you were trying to buy, you're you you eventually bought it, but what was it?
Pace: An Airstream.
Steve: Yeah.
Pace: Yeah. Laura and I Laura and I, five years ago in 2020, COVID hits. And, I go, oh, kids are out. Let's go see what the RV park world looks like. That's when I started getting to RV parks.
Steve: Mhmm.
Pace: And so we went and we went to, like, 40 of them. We spent seven or eight months on the road, And I was like, this is the wave of the future. It's RV parks, mobile home parks. Now, of course, like, Grant Cardone is going after hyper luxury Mhmm. Because the rich are going to get richer, and they're gonna need a place to live.
Miami. Look what happen is happening in Miami. It's crazy. Mhmm. But everywhere else is getting poorer.
Right? There's, like, seven pockets where people are getting, richer, but the majority of them, like, Scottsdale was just rated the number one hub for entrepreneurs, people moving in in The United States. So Scottsdale, you look at Paradise Valley, they're selling 30,000,000, $40,000,000 homes, and big tech people are coming in here because TSMC is coming. It's it's crazy what's happening. There are people making a lot of money that are leaning in on AI, and then there's the people that aren't.
Steve: Everybody else.
Pace: And and what are they gonna do?
Steve: That's what I'm saying. I think this recession is gonna be bad in a year.
Pace: It's not and it's not a recession that we will recover from. It will be a new world. Yeah. And what I mean by that is let's look at truck drivers. Right?
You're a Tesla guy.
Steve: Mhmm.
Pace: Elon has these trucks that are cruising on the roads right now. All truck drivers, in my personal opinion, are gone within three to seven years. And when I say all, I mean 90% because there's obviously the random one off route that's hard to get a robot to do or whatever, or they're doing construction sites from Home Depot to here. But the long route truck drivers, 7,000,000 people live in that industry. 7,000,000.
Our current unemployment is, like, 2,000,000 people. We're gonna literally quadruple the unemployment rate just from truck drivers. Yeah. What about software engineers? What about you know, you went to school to be an engineer.
Right? I did. Bye. All engineers.
Steve: Yeah. Most engineers. That's what what what I'm seeing is I was talking to somebody, and they had their own software development team. And they had senior developers and junior developers. Mhmm.
And he was thinking, man, like, I could just let go of all the junior developers and just have just empower super the the senior developer with all the AI tools, whatever.
Pace: Right? No.
Steve: That's what he was thinking.
Pace: He went it was the opposite.
Steve: It was the opposite. He only need a one junior developer. He didn't even need a senior developer anymore with AI in place. Yeah. Like, if you look at everything I've built out, I built it all out with the assistance of AI.
Pace: The reality too is, like I I actually I was just listening to this this morning. Peter Dumanda's awesome podcast, Moonshot.
Steve: Mhmm.
Pace: He was talking about AI will amplify the creators. Right? And you're a creator. So you went out and created a product. It's like, AI doesn't know what the environment needs.
Exactly. You do. Yes. So you have to go out and take the AI, develop it, make it happen, and then implement it into the market and obviously do the marketing, and you're the human spokesperson behind that. Correct.
So personal brand, ideation, creating, and application. Like, where is this thing actually going to be applied is where your tools are best suited. If people don't have that, what what are they gonna do?
Steve: I don't know. This is what I worry about.
Pace: I worry about it too. And I look at my I my son Asher, Luckily, I've had some good advice. So my son, Asher, has three rentals. He bought them all sub two, of course. And I'm looking at my son.
I go, do you wanna stay in real estate? He's like, oh, I'm not excited about it. He's 17. He's excited about girls and hanging out with his friends. Good.
I go, okay. Here's what I don't want you to do. I don't want you to get to get a job. So what we're gonna do is we're gonna get you into flying, and you're gonna become a pilot. And whether you become a pilot for me at some point or you're you become a pilot for commercial, I don't care.
But you're not allowed to leave that industry until you find something that you can convince me is better. Mhmm. So I'm talking to a buddy of mine, commercial air airline pilot, and he says, oh, dude. All of our airplanes are so antiquated. Like, they're not gonna adopt the new technology per for probably, like, seven to ten years.
Steve: Okay.
Pace: So you have the Somewhat tech proof. Somewhat tech proof. Why? Because there's already an existing investment in those airplanes. It doesn't make sense to get rid of those airplanes or overhaul them until the usage is all the way done.
Mhmm. So there is gonna be an adoption wave.
Steve: Mhmm.
Pace: And it's gonna come in chunks, right, where it's like, oh, cars. Now as the new wave of people need new cars, what's gonna happen is now they're gonna go, why do I need a car? I'll just get a freaking Tesla taxi everywhere I go. Right. Or hell, I'll buy a Tesla tax, and I'll put it out to work while I'm at my nine to five job if I have a nine to five job.
Yeah. It's dude, it's great. You know who say else is safe? Videographers.
Steve: Mhmm.
Pace: Because what robot can take, like, creative and artistic direction? So people that are creating real things are gonna dominate in a big, big way.
Steve: It was interesting. So, you know, we work a lot with salespeople. Mhmm. And we look at everything we hate about our salespeople. You know?
Inconsistent follow-up, not putting those in the CRM, or not documenting, not doing all the things necessary.
Pace: Skipping steps. Yeah. Being lazy. You have a prospect on the phone. You should be taking them through a process.
You skip a part part of the process because you see that this the prospect looks ready to go to just receive the contracts. You send the contract before you close all the loops. All of those things.
Steve: All those things that we hate about salespeople. AI
Pace: fixes. Done.
Steve: So all a salesperson has to do is just be themselves. Yeah. Just be their natural self. Can you open your mouth and talk to someone and build a connection? Yeah.
If you can do that, we'll take care of everything else we hate Yeah. With salespeople.
Pace: It's a big deal.
Steve: So all the soft skills, like, that's what we're we're talking about right now. It's all the soft skills. Right? So, like, the the editing I was sharing with you before, like, we use OpusClip nonstop Yeah. Right, for the editing and so on.
But the vision, how is this video gonna look when the consumer looks at it later on before we start the recording? Right. That's a skill, at least today, is still safe.
Pace: I've got some big news, and you'll want to hear all of this because I'm gonna give you the best bonus ever at the end of this video. You all know that I've been providing sales training for six years now, and I've had the opportunity to train hundreds of the best teams in the country and thousands of individuals as well. And they've all had wild success along the way, some of which you've even seen on this podcast. You also know Ian Ross, who has been coaching alongside me now for over two years. He is the biggest sales geek ever, and he's been training business owners and individual contributors ever since he started working here.
He even runs the Close More Sales podcast, but we had a problem. There was a lot of confusion. What is it exactly that we sell here? Is it disruptors training? Is it Steve train training, or is it closed Marcel's training?
It's none of those. It is objection proof selling. Ian runs objection proof selling for business owners and individuals. I run objection proof selling for teams where I coach their entire team. And to celebrate the rebrand, I want to give you something that I
Pace: never would have thought been possible until recently. We've been training this
Pace: AI bot for over a year, and I'm not until recently. We've been training this AI bot for over a year now to score all of our sales calls internally. Every call we run, we have the bot review the call to e and in mind exact standards for sales. We run every one of our team members' calls through the same exact AI bot, and now we're giving it to you for free. This bot will review your calls based on dozens and dozens of metrics.
It will tell you what you did well, what you can do better, again, by the standards of the objection proof selling formula. And if you want to use our bot for free, just head over to our website, objectionproof.ai. Again, objectionproof.ai. I want to emphasize here, you're getting access to our bot, which allows you to get better at sales for free so that you can make even more money now without having to spend another dollar. Go check it out now.
Pace: Yeah. It's interesting. I think the adoption is is keeping people at, in a protected zone for probably the next I think a year is too too soon. I I think in twenty four months, I can't even imagine. Right?
Mhmm. Like, everybody in your mind, think about when did you first hear about ChatGee BT?
Steve: '22.
Pace: Yep. '22. Here we are now two and a half years later. It is ChatGVT is not even the cool thing anymore. No.
In fact, I have my own GPT called PACE, PACE GPT. My whole team communicates with me all day long, and I'm not there. It goes through all so, like, for example, let's say you take take, like, a sub two member, somebody in my community. They have a question about anything. They can it goes through 4,000 Zooms that I've done over the last five years, and it aggregates the information.
It says, hey. If you want the long form answer, I answered it here on this date. It's forty two minute answer. But what you're really looking for is this, this, and this. It's at a point now where they can it's free.
I just give it away. That's the thing. Just give it away for free. Yeah. Right?
It's not a sales thing like objection handling. But they'll go let's say you're a brand new person and you've just learned, creative finance and you're in my community, you'll go, hey, Payson. I'm about to make a call. Please listen to the call. And it will suggest things to say during the call.
It'll, like, nudge you, nudge you, nudge you, nudge you. I'm sitting here going, that was two and a half years ago that we even heard about it. Now I have this tool that takes, literally, there's, like, 12 people on my team that it does their job for them now. And you know how much I pay how much I pay for that thing every year? $3,000 a year Mhmm.
Versus my staff of that is probably a $100,000 a month.
Steve: I was gonna say, I mean, probably 30,000. Oh, so a 100,000 a month. Yeah.
Pace: There's 12 of them. Yeah. Right? And they're okay. Maybe it's not that much, but it's they're all in they're all American.
They're in the office. And they're now what's funny is my customer service reps and those kinda people are using PACE GBT to answer the question. I'm like, okay. So how about we just skip a process? Yeah.
How about we skip? And I don't wanna let people go, but that's what's gonna happen. It's not I can't compete. I can't like, same thing with, RV parks, I think, are really kinda cool. I I sorry to keep bringing up RV parks.
I just bought two more. It's a demographic of people that, you know, they're working from home. They're entrepreneurs, and they're like, how do I live and see the country? How do I travel? But do it very, very efficiently.
And They're older digital nomads. I used to think that. It's like fifty fifty. You got a lot of older ones and then you got younger ones that are, like, our friend's age or even younger that are, like, I don't want a house. I don't want the responsibility.
Steve: Having that conversation with Manny a couple months ago.
Pace: There you go. They just wanna be on the road. And they wanna travel experiences experiences. You and I experience? Give me a cold call, bitch.
That's like, that's all I wanna do is cold call. So, that world is so safe from, being interrupted from AI. Same thing with mobile home parks. Mhmm. So, like, did you ever see rated player one?
Oh, yeah. Okay. Those stacks where they're all living like, that's what I own. This is what I own. It's like the pea I'm renting dirt to people for $304,100 bucks a month.
The government is going to pay me. And as much as it pains me, I look at, like, you know, Trump is coming out with a big beautiful tax bill. It will benefit me tremendously. It will benefit you tremendously, especially from cost segregation and all the other cool things going on. It will incentivize me in a massive tax way.
But I look at the rest of the world and I look at our I look at our, deficit, it's impossible for us to not have some sort of default. What is going to happen is it will be significant. People, oh, no. They've been saying this for years. Yeah.
Yeah. Yeah. We have $40,000,000,000,000 in debt. They haven't been saying that for years.
Steve: They have not. I you know, it's funny. Back when we used to run Mhmm. Remember back in Yeah.
Pace: Yeah. Five years ago.
Steve: Scovery Park. Yeah. Yeah. I remember when,
Pace: My toast still hurts from that.
Steve: I remember I was talking about, like, inflation. Like, hey. Like, they're talking about printing all this money because of COVID. Mhmm. This is gonna be really bad.
A lot of good people are gonna get hurt by this. Mhmm. Here we are.
Pace: Here we are. The people who own real estate like me They're great. I did great. My net my net worth went up tens of millions of dollars because I sat on real estate that they pumped. My net worth goes up.
It's
Steve: But that's what you and I talked about. I was saying, like, you and I are gonna be great. Yeah. Everyone else is gonna be screwed. And we're having I feel like we're having the same exact conversation Yeah.
Again. The
Pace: thing here's what I would say to people that are listening right now is think about that cat scent. Like, are you the rat that's sitting there where the scent of the cat is in front of you and is paralyzing you? Or are you the person that can take that scent and put it behind you and propel yourself forward? For me, I actually operate primarily out of fear. I wake up in the morning with anxiety.
I operate out of anxiety. Holy crap. What if this happens? What if this happens? I don't stop working because what if this will happen?
It makes me work 10 times harder, and it's a mental shift that you've gotta make. So whether it's doing business with Steve or doing business with anybody else, like, get in something. Get into the vein of business and start making money outside of just your nine to five job or you're gonna be cooked. That's it. Yeah.
Steve: Even popping up more of my feed recently. There's something you keep talking about this lady. Oh, yeah. Yeah. What's going on?
Pace: Okay. So, I just have been really having fun helping people get their first deal. I you know, you've helped people become millionaires. You've helped people get their first deal. You've you've done all these things, and there's just really truly nothing better than that emotional income.
We talked about this probably the second time I came on the show, and I was like, you give me a $100,000. K? Or, actually, I said, give me a $10,000 check or tell me I help somebody, and I'll take that all day long. The the emotional income means so much to me. And I've been in the game long enough to know that there's this massive domino effect that you create when you help somebody else get their first deal.
It just compounds and compounds and compounds. But, you know, I have a really big Facebook group. It's a free Facebook group. Resources, creative finance with Pays Morbid. It's completely free.
I don't promote or push anything in there. Affiliates, nothing. I don't push anything. I just provide a lot of value. And you'll get people.
It's like specific demographics of people that will have the victim mentality of, like, but, yeah, I'm a veteran, and you don't understand how okay. You're right. I don't. Let me create a mechanism for you. Let me create a pathway for you.
Let me do a training for you. Okay. But I'm a single mom. You don't understand. Okay.
But I'm a dad that's busy. You don't understand. Okay. But I'm homeless. You don't understand.
I get a lot of people go, I'm sleeping in my car.
Steve: Mhmm.
Pace: And so I, you know, soft spot in my heart because of my brother. He was on the streets for a couple years. Nobody could find him. And so for me, I'm like, these people that are on the streets are good people. They just need help.
Yeah. And, so what I did is I said, if I go help somebody that is homeless and I record every single part of it, it basically removes every other excuse from every other demographic across the board. Like, okay. And so I went to, like, the attorney general of Utah, good friend of mine, Sean Reyes, and I said, I wanna do the TV show. Netflix says they're interested in doing a TV show with me, and I wanna do a TV show where I fly to Utah, I interview 200 homeless people, and I get a team of, like, 12 people.
At the time, the working title of the show was called Homeless Homies. Don't worry, guys. It was definitely not gonna be the name of the show. But at the time at the time, the working title was homeless homies. And I was like, I want them to come into an office with me.
Like, let's say a title office or something where they came in with me for thirty days, and all they had to do was show up for thirty minutes a day, and I would show them how to become financially free in less than thirty days.
Steve: Mhmm. And
Pace: I was like, the story arc will be 12 guys or girls. We record everything they do and who actually sticks around after thirty days. They get flighty. They they get weirded out. They have mental health issues and maybe drug addictions.
But But the ones that stick all the way through and follow the process, it's like, I'm hoping one or two of those people make it all the way through. Okay. So I get a $100,000 from, like, Trainual, a $100,000 from Kajabi. I get a 100 like, I get people, like, putting money behind this, going, we wanna put money behind you doing this because we believe that you're a crazy enough lunatic. You'll go do it.
Mhmm. And, then Sean Reyes tells me, hey. I'm retiring. And he'd been in public service for sixteen years as the attorney general. So he retires in January.
I'm like, crap. Alright. I guess I gotta go to Skid Row. I gotta find somebody else that will let me use the government, assistance and, like, figure out how to operate properly in that town. And I was just kinda feeling down and defeated about it.
And then, I just said, I'm not gonna quit. I remember just saying, I'm not gonna quit. I'm gonna find a way to help somebody and create, a blueprint for anybody. Like, literally anybody. You're sleeping in your car.
I will show you how to make 5,000, 10,000, $15,000 in a week, and I will show you the gateway drug into real estate. And I get an email from a lady named Maddie, and she's like, hey. My name is Maddie. I'm, 59 years old, and I'm sleeping in a shelter, and I have been watching you on YouTube. She'd seen the real estate disruptors back in the old days.
Like, she'd watched all those episodes. I've obviously, I've hung out with her now. So she references those things. She likes Steve she loves her herself from Steve Trang.
Steve: Well, appreciate that. Thank you, Maddie.
Pace: So, she sends me an email. Takes me a couple weeks to respond, but then I'm like, okay. This could be a really great opportunity. And I don't need a TV show, and I don't need all that. Why don't I just go pick this lady up?
And I why don't I just literally every single thing I do with this lady, I just record it, but I don't do any work. I record. I tell her what to do, and I I go, you do the work. We record it, and I just give it out to the world Mhmm. Free.
Like, not charging for any of that stuff. Doing something that nobody's ever done before. People have written books about doing that kind of stuff, but, like, documenting the journey Mhmm. Of getting a homeless person off the street. So then she tells me, I've got thirty days until they kicked me out of the shelter.
I've been on the streets, and her story basically was 55 years old. She has three kids, and she was trying to support these three kids, Married wife you know, married at the time. Her husband dies at 55. And she now has no income. She has nobody taking care of her.
She's a stay at home mom. She never learned how to make money. So she comes from Connecticut to Arizona to try and get some help from a friend. One thing turns to another. That person flakes on her.
Then the next thing, she has to sell her car. It breaks down. It turns into a thing. Next thing you know, she finds herself sleeping on a bench.
Steve: Yeah. Vicious, spiral.
Pace: Vicious spiral. And, you know, I found out a couple of years ago that, like, one in thirty kids sleep in their parents' car because their parents can't afford rent.
Steve: Mhmm.
Pace: It's affordability is insane right now. Right? Even though rents are coming down a little bit, affordability is still insane. Yeah. So, I look at this lady.
I go, okay. I'll pick you up at 07:00 in a couple days. So I pick her up. I buy her a flight to L LA because I just was going to LA that day. I go, come spend the whole day with me.
And we spent fourteen hours together. My videographer, Eric, was like, we're doing what? We're picking up who okay. Who is this homeless person? How do you know this person?
I go, I just I've never met him by email. By email. Yeah. And he goes, you're kidding. He's like, dude, I've seen you do some stupid things, but, like, this is crazy.
You're putting yourself at risk. I go, yeah. I guess I I guess I kinda am, but I think this is a really cool blueprint. So what I did with Maddie is I spent the day with her, and then I, started creating a blueprint. So I said, alright.
Here's what I want you to do because I thought of the audience. I thought about about people watching. Yeah. And what are their excuses? Their excuses are, I don't have time.
I don't have money. I don't have this. I don't have a mentor. I don't have help. I don't have somebody holding my hand.
All the things. Right? So I said, alright, Matty. You are limited to working forty five minutes a day, four days a week from your broken Obama phone. It barely even freaking works.
Forty five minutes. Forty five minutes a day.
Steve: Okay.
Pace: And you know this. Being in being in the real estate business and and having your experience in wholesale, if you if I limited you to forty five minutes a day, four days a week, could you get a deal in your first couple of weeks?
Steve: Could I?
Pace: Yes. Yes. And I put my I put myself in this really impossible situation where I go, I'm gonna guarantee you that you're gonna get a deal in the next thirty days, but I want you to limit yourself because I don't want you to overwhelm yourself, etcetera, etcetera, etcetera. So what I did is I had her start out bird dogging.
Steve: Mhmm.
Pace: So she would go to wholesalers in my sub two my sub two, free Facebook group, and she would just bird dog deals for other people. And I said, you are not even getting started until you copy and paste addresses. You know, it's the Jamil method. Mhmm. Right?
It's Astroflipping, basically. And I said, all I want you to do is copy and paste addresses, copy and paste addresses until you get to 250 no's. And when you get to 250 no's, then I know that you've done enough work that will go to the next step. Well, she got to 45 no's, and then she got her first deal, 46 houses. And she got her first deal, got 5,000, and, got her paid last week, which is just triumphant.
Insane. Like, so cool. She doesn't have a car. She has literally no money, no bank account. So we we went to deposit the $5,000 because she does no transportation.
The bank's like, yeah. We shut down that account a long time ago. Like, you have no money. What are you doing? Mhmm.
This lady has never seen $2,000 ever compiled in one place in her entire life. And so, I just started documenting in my free Facebook group and trying to inspire people to go, dude, there's literally no excuse. And I also don't I'm also trying to create change the culture of at least my free Facebook group. I go, you are not allowed to say I have not done a deal. You are allowed to say I have not done the work to deserve a deal.
But you are not allowed if you say I have not done a deal yet, I'm going to delete your comment, and we're kicking you out of the Facebook group. I am zero tolerance. There's no more. I'm getting too old and too cantankerous to be patient enough with people that are saying I haven't done a deal yet. No.
You haven't followed the blueprint. Mhmm. And so Trevon right here, who's hanging out with us today, we've been following and hanging out with her. And luckily, I just hired Trevon, and he used to run a shelter. Oh.
So, like, we've been documenting her, and he's been, like, running around with her even when I'm not around following the work she's putting in so that we can just give it all away to the world and go, hey. Here's the blueprint. Mhmm. And, it's been a lot of fun because I have now seen so many people go, I cannot even believe it. And I've released some of the videos, and they're watching like, dude, it really is that simple.
I'm like, yeah. It is. Yeah. And you have no time. You have no time.
Right? Like, you're you guys are going back to the AI thing briefly. You have no time. Like, you do not have five years. You do not have seven years.
I cannot even imagine what the world looks like in ten years. And it's gonna be nobody's driving cars. They're gonna be self driving cars. That sounds like back to the future type of crap. Mhmm.
But it's already happening, dude.
Steve: It is.
Pace: It's it's so freaking scary.
Steve: Every time I see a Waymo on the on the in the intersection, I'm just like, man Yeah. Is this is it am I gonna be okay here? And it's it's it's I think it's got a perfect record in Arizona. Others say it's not so much, but I think it's got a perfect record in Arizona.
Pace: It's got a perfect record. And so what here, I'll cap off the Maddie conversation real fast is that I just started looking at all the avatars with all their bullshit. Right? People think BS equals bullshit. I think BS equals belief systems.
It's like people's belief systems of I can't make it happen.
Steve: Mhmm.
Pace: I can't do the thing. It's not possible for me. I'm like, okay. Name a demographic. In fact, I made a post in the Facebook group, my free Facebook group this morning.
I said, name a demographic of somebody who cannot get a deal in a week, and I will I will fly anywhere in the freaking country. And I will add it to this Maddie story. You name them. A person has no legs? Done.
A person has no hands. They can't even text or pick make a phone call? Easy. Give me a challenge. Give me something hard.
And I have, like, 700 con comments on this post right now. People are just like, it's me. I I'm the demographic that can't get a deal. Come and help me. They all want me to fly to them and just do the work.
And so going back to also who are the people who are gonna be, safe from AI? The handholders. Think about this. Information is paradoxical. Meaning, I could give you all the information in the world, but in a lot of ways, it's analysis paralysis.
It just paralyzes you where it's like, I have too much information, and I don't know how to apply it. Right. So the handholders like you, handholders like me, if, like, I'm I'm somebody who actually will apply and do it with you. I'll hold your hand and actually walk you through the process. People like you, people like me will dominate because we're willing to extend that hand and go instead of saying, watch the videos, we go, no problem.
I got you. Let me hold your hand. So I'm going through the next, two years I've got slated. Every six months, I'm gonna choose a new person, and I'll rebuild their life from scratch. I'm gonna move to where they are.
I'm gonna I'm gonna be the crazy lunatic. Well, otherwise, what the hell am I gonna do?
Steve: You know? I don't know. I don't know. I mean, this you're doing a whole bunch of different things. I wrote down some other stuff.
We didn't talk about it before the show, but, I mean, I'm seeing you and Jamil right now talking about no one left behind. I'm guessing this has some correlation.
Pace: Not really. But No One Left Behind was just my success rate in my community is insane. Like, I I'm I'm friends with the FTC, and I was like, hey. What's the average success rate in, like, information, like sales not sales courses, but, like, real estate courses. And they're like, oh, the success rate is 1%.
Like, literally, a 100 people buy a course and one percent ever succeed. That sounds high. Exactly. Our success rate is in the eighties. Mhmm.
80 per like, high eighties. It's insane. Yeah. And so the FTC actually tells people, like, hey. You should model your community after what Pace Morby is doing.
I'm like a poster child at the FTC, which is crazy. Yeah. So I'm talking to them, and I'm like, yeah. But I'm not happy with it. Like, how do I go to a 100?
How do I get a 110% success rate in my community? How do I make sure every single person has done more than one deal? And so what I did is I came up with this thing called the no and left behind challenge where they literally just fly to my office. They're at my office right now. I took a break to come over here.
Steve: Thank you.
Pace: I teach them how to generate the lead. I close the deals for them. My team shows them how to send out the paperwork. They're sending out the contracts in person all face to face. And Jamille, I'd ran October, November, December, January, February all by myself, and Jamil started watching me do this.
He's like, you just helped 400 people get their first deal. I go, yeah. But I'm gonna make it bigger. And Jamil's like, can I jump in on that? Mhmm.
I go, yeah, dude. It'd be a lot more fun with you. So Jamille and I, who we haven't worked together for a couple of years because of the TV show. The band's back together, and we're having a blast. And right now, we have 90 people at my office that just got their first three deals this week, like, sub two deal, a cash deal, and we've got a RV park deal all under contract.
And people are generating the lead in live, setting up the appointment for me and Jamil live. We're making the calls live. We're sending out the offers live, and then my team is sending out the contracts once the offer is accepted. And they're watching all of that happen in a four day time frame, and they're like, I went from not being able to get a deal for five years to I got a deal in four days, and I did it all in person, and my life has changed. So I've been doing that for the last six months, like, one week every single month.
It's been a blast.
Steve: Yeah. Again, I don't know what's going on, but you've been popping up my feed more. So those are things that have been jumping out Yeah.
Pace: Yeah.
Steve: What I'm saying. And then the other thing too is I've seen you guys are doing something along the lines of Owners Club. I don't know anything about this.
Pace: Owners Club is for, like, people that are in sub two that wanna go to a level where they're buying businesses and, like, running businesses. And so we named it Owners Club because people inside of Sub two will buy and own businesses with us. And so we have it's a small group. It's 500 people that are in that elite group of people that are out buying businesses, and we're developing AI together.
Steve: Mhmm.
Pace: And so we're developing, like, AI agents to deploy to the rest of the real estate, world. And so it's small group. I never I try not to ever talk about owner's club, but it pops up. It's like inside of my ecosystem. It's the highest level people in our community.
Steve: Well, I hear about it. I guess there's two different reasons. So Ingrid and Steven were in here. Oh, yeah.
Pace: Yeah. They're in owner's club. Yeah.
Steve: In our space, back when we were double the size of the same space. And then, obviously, Ram and Sub too. So
Pace: Of course. Yeah. You see it pop up all the time.
Steve: Yeah. Yeah. I see it as, like, I don't know what what's going on. Yeah.
Pace: Owners Club is just the people that are like, I wanna hang out with you more frequently. I wanna own businesses with you, not just real estate. And, about four years ago, I started buying businesses with Creative Finance. And I don't talk about it on social media because that's not my lane, but we do it behind the scenes if that makes sense.
Steve: How is that not your lane?
Pace: Well, the Creative Finance, yes. But, like, bit buying businesses, it's like that's Cody Sanchez, you know, Cody, what's his name? Kyle. Kyle Million. Those guys, like, that's their lane.
Mhmm. The creative finance element is mine, and so I'll I'll continue to talk about it. But the business thing, I think it's oversaturated. Everybody's talking about it, so I'm like, I'm gonna stay out of it.
Steve: I don't know if everyone's talking about it. And I think perspective I mean, look how saturated real estate is.
Pace: I only think of me in in real estate, sadly, because I I think I'm the only crazy one that does crazy anything crazy.
Steve: Yeah.
Pace: And so there's definitely a lot of people competing in certain elements, but I just I feel like what I've done over the last five years is something that the industry has never seen.
Steve: Well, of course. But my point that's my point is Yeah. Yeah. Like, there's other people there, but
Pace: I don't see it. Yeah.
Steve: Still add Pace's flavor Yeah.
Pace: That's true.
Steve: To it.
Pace: I just do it behind the scenes. And it's also, like, I I could only post three times a day on Instagram without pissing people off. So I think I could only
Steve: piss it off.
Pace: I'm it's just, like, figure of speech. Yeah. I if I could talk about stuff all day long, I would. It's like we get this 102 unit motel under contract the other day, and I'm like, I wanna talk about this on social media. I'm like, no.
But I've already done three posts today. I don't I think I'm good. I I don't think I need to talk about it. You know? So
Steve: how much wholesaling are you doing today?
Pace: We'll probably wholesale three deals a month, and those are deals that I'm not direct to seller or direct agent on. Those are people that, like, members of mine come to me and go, hey. I have this great deal. I go, I don't want that, but I'll sell it for you. Mhmm.
So we'll do some, like, JV type of stuff, but I'm not in wholesale as, like, a wholesaler. I wholesale, but I'm not a wholesaler.
Steve: Mhmm.
Pace: And this is an interesting topic. I'd some people in the wholesale industry are gonna hate me for this.
Steve: Good. Is it well, make sure we clip this, make this the intro.
Pace: Yeah. Make this the intro. Wholesale people don't wanna hear the truth. The truth is wholesale is a gateway truck. It you're not meant to be in kindergarten, first grade, second grade, third grade, and fourth grade for the rest of your life.
Steve: Yeah.
Pace: That's why there's junior high, high school Mhmm. College, etcetera. Yeah. And wholesaling is the greatest thing. It changed my life so much, but it's not meant to be a forever business.
It's not automate it's hard to automate. Why? Because you have to have salespeople. Those salespeople have to be humans, and salespeople are the worst people on the planet to have as employees to put into perspective, like my title company. And you're you you know, you have a title company, and, actually, you were the person who inspired me to start a title company years ago.
My escrow officers will stay there for forty years. Yeah. A salesperson, I am lucky to keep them there for forty hours. Yeah. It's like, oh, I got all your secrets.
I'm just gonna take all this. So it's like people go, oh, you have a leadership problem. I'm like, no. No. No.
Come into my operation. See people I've had for six, seven years in my company, people that run my stuff. It is a salesperson problem. Mhmm. Because they are entrepreneurial minded, which is also what is needed for that role.
Steve: It's what's great and that's so great
Pace: about them. Exactly. And I love them and you need them for all sorts of things, but I look at that. I'm like, that's not a business that I can really walk away from. Like, think about wholesale.
If you go, yeah. I'm gonna walk away from a wholesale business for six months, and I'll come back and it's thriving. Name one person that can do that. Name one.
Steve: I can't name one.
Pace: Neither can I? The only person I know that has really truly scaled wholesaling was Jamil Damji. Mhmm. He's the only person I've known that has scaled it to a point where he doesn't need to be there. Yeah.
But how did he do that? He has an incredible wizard named Hunter Mhmm. And another partner named Josiah that run that business day to day that Jamil doesn't have to be there.
Steve: I'm filming this video for
Pace: the man himself, mister Ian Ross. So Guy Crouch is the guy who's the best person in sales I've ever seen. I've invested elsewhere and I haven't got the same results. I've gone from being a seller making 5 k a month to being a hybrid role making 11 k a month to now be four months down the line from 5 k to on a closing opportunity, inbound, full calendar with the best opportunity, the best offer in my space. OTE is around 20 k a month from month two.
So I've gone from 5 k to 20 k. If that's not a return on your investment, I don't know what it is, man. If you're a salesperson and you don't invest in sales training, you're gonna get left behind because your job is to be better at sales, and sales training directly makes you more money. If you like what you just heard and would like similar types of success, text close to 33777, and we'll see if you qualify to join objection proof selling. We're taking good sales reps, and we're making them objection proof.
Steve: And I was you know, it's funny that I was there Mhmm. When they were just JV partners.
Pace: Yeah. Right? It's crazy to see what you've you've watched.
Steve: So, like, I mean, I still remember Josiah when he showed up. Like, I went I went to his house. I contracted it for, like, thirty and trying to wholesale it to Jamil for 40. He's like, well, let me send my guy out there. I was like, well, I wanna be clear.
Like, I've got a I've got a handshake at thirty, but, I am pretty sure in all three buildings on this property are meth heads. Yeah. Right? Because I know the police was here a couple nights ago evicting somebody. So I want to inspect the property, but I don't want to inspect the property.
Right. And so I said, Jamelle, who you got? He's like, oh, I got this badass. He's big. He's jacked.
He shows up. He's got holsters for both guns. He's gonna be great. Right?
Pace: This was Josiah?
Steve: Well, I'm waiting and waiting and waiting. I was like and I called you, Bill, and I'm pissed. I was like, look. You said you guys you guys gonna be here by, like, 11:00, 11:15. Where's your guy?
And he's like, well, there was a problem. That guy can't make it anymore. But I got another guy who's gonna be great, and he could do all these things. Josiah. Little Josiah.
Pace: Yeah.
Steve: And he goes through, and he talks to all the methods and all three
Pace: He's phenomenal. He's great. I'm part so I'm partners with Josiah in three businesses.
Steve: Yeah.
Pace: And him and I own a fund together. We own probably, like, we'll end up owning $40,000,000 in real estate together by the end of this year. Unbelievable partner. And so I look at wholesale, and I go, unless you have a partner that is so good at operations
Steve: Mhmm.
Pace: And you also have a wholesale model that does not rely on salespeople, good luck. Mhmm. Jamil's wholesale model is a JV model. Right. You don't need salespeople banging the phones and being trained all day long, which is actually the hardest part of sales is I bring you in, I manage you, I I train you, which is what your objection handling software is doing.
What's the name what's the name of it? Objectionproof. Objectionproof.ai. Right? Yeah.
So objectionproof.ai. People come in and they get trained, which is nice. But in the past, bro, I had to take four months of taking them on appointments doing this. Okay. This is why I did this.
Four months, and then they figured it out. They're gone. Competed. Competed. Yeah.
Now what's cool is you don't show them any other part of the business except for the sales side. Mhmm. Like, that's revolutionary. Yeah. Revolutionary.
Steve: And, Jamil, like, he had the foresight to see Yeah. Partners in Josiah, in Hunter to get himself positioned where he can.
Pace: Right. And I look at a lot of our friends. I won't say their names because the they're all really good friends of mine, but they're still going on appointments.
Steve: Mhmm.
Pace: And they're 55, 58, 60 year old year old guys that are here local. I also have a you and I have a mutual friend. I just saw his name on your phone. I went to dinner with him the other night. He says, I did $2,000,000 in top line revenue in wholesale last year, and I took home $300.
I'm like, okay. So it's 15% margin on, like, $300. I could buy one RV park and never worry about it, and it brings in $300 net. Like, what why do I wanna have a $2,000,000 wholesale operation when one RV part brings in $18,000 a month or $22,000 a month net? Like, why would I do that?
And so I I think that I just graduated through owning assets to the point where I figured out what I like and what I don't like, and wholesale was what gave me the freedom to do that. And so wholesale in my mind is a a tool that gives you breathing room to make a decision of what your next move is. And the people that are wholesaling as a full time endeavor, it's one thing if it's like, yeah. We do four or five wholesale deals a month, and it's a part time thing. But if it's like, we're gonna go sell our wholesale business.
No. You're not. Do not lie to me. Ain't nobody sold the wholesale business. And if they did, whoever bought it from you did not perform on the note.
I can guarantee it. So I like wholesale. I love wholesale. It it changed my wife, Laura, and my life. It got me out of construction.
I got financial freedom from it, but it wasn't financial freedom. Actually, what? I didn't get financial freedom from it.
Steve: You gave me the avenues.
Pace: It gave me the avenue. I went from one prison to a larger prison cell. It was like now it went from, like, I was the dungeon to now the first class white collar prison.
Steve: Mhmm.
Pace: Right? That's wholesale. And so getting out required me to have cash flow coming in. Single family, also, like, my biggest mistake I think I've made over the last seven years is I bought too much single family. I should have bought 25 and been done.
I have 300. Mhmm.
Steve: What
Pace: do I have 300 single family houses for? Well, because buying sub two and seller finance is like, buy a deal, buy a deal, buy a deal. No money. No problem. No money.
No problem. I got it. Next thing you know, I've got 15 markets. I got a big team. I got an asset manager here.
I got a traveling asset manager here.
Steve: And so Traveling asset manager.
Pace: You have a girl named Heidi that is a traveling asset manager. Last week, she's in Big Spring, Texas. We bought $8,000,000 of RV parks, and so she goes and lives there for a month and onboards the properties. Like, that's my my We're inventing job titles now. We're inventing job titles.
Yeah. Her job is not gonna be replaced by AI. I can tell you that right now. So she goes in. She sits in the operation.
She fall watches the efficiencies. And so she sees, like, why is the mail lady doing that, and why is the person doing that? And she'll sit there and do that so I don't have to. Yeah. But I'm now at a point where I might every wholesale deal I did let's think about that.
My average wholesale deal was probably $18,000, somewhere in that range. I I'm not as good as Brent Daniels as buying as deep, just not. I buy I might buy more when I'm in the living room, but I'm not buying as deep as Brent Daniels. The guy's a lunatic.
Steve: Mhmm.
Pace: Okay. $18,000, but after marketing expense and commissions and all that kind of stuff, I'm walking away on a wholesale deal, like, $10,000. Right. Okay. That's life changing money for 99% of people.
In fact, it was life changing money for me. Wait. You're telling me I could put four hours worth of work and make $10,000? Okay. Cool.
But at the time, then I go, well, what if I just get an RV park or a mobile home park? I got this crappy mobile home park in Yuma, Arizona that makes me $7,500 a month. I've been there twice. It's basically just a bunch of chickens in mobile homes, and it nets me in my pocket $7,500. I have somebody else manage it.
The tenants don't squawk up. We've raised the rents every single year. That is one wholesale deal every single month that pops in to my bank account that I don't have to work for. Mhmm. And so I looked at it and go, well, how how much do I wanna live on every single month, and what assets do I need to do to acquire that?
Single family is challenging because they cash flow $300 a month or $200 a month, but they make so much appreciation, especially in good markets. You get so much tax benefits. And so I use that for the first three or four years to not pay taxes to then compound my cash into some other things. And I have now been liberated from wholesale. Congratulations.
Thank you.
Steve: And and then going back to, you know, storytelling time. Right? I was talking to someone earlier today, and they're like, hey. Do you know Pace Morby? I was like,
Pace: yeah. I know. Yeah. Steve Steve Train is one of my best friends.
Steve: And I was talking to him like he's like, how you know, how do you get connected with him? I was like, he was my GC. Yeah. Yeah. Yeah.
Pace Morby was my general contractor.
Pace: Was this 2017, 2016?
Steve: '7 '16, 17, around that time. Yeah. Yeah. I still remember the very first time you were buying me lunch because you were the vendor.
Pace: Right.
Steve: And I was late to this oregano, it's like right over here. Yeah. Right? And it was like and I was like, hey. I'm sorry.
I'm late. And you're like, don't worry about it. You're on the phone dealing with contractors, I imagine. Right? But just, again, this journey that we've all had together.
Pace: That was nine years ago. Yeah. Like, think about how fast life goes and and, you know, you got a daughter now that now has a job with you. Like, you're I I remember your kids. Were they in Taekwondo?
Kung Fu.
Steve: They're also they're also in Kung Fu.
Pace: Okay. Dope. So, like, I look at at all of our lives. Real estate changed all of our lives in a significant way, and now you're off creating other products because you have the breathing room because of real estate, because of wholesale, because of sales. You have the breathing room to go, alright.
I can go create. And so, again, for the people that are watching, you don't lack opportunity. You lack a little bit of breathing room. Right? Because you don't know exactly who you are quite yet.
I think what's been really fun is watching you figure out who you are, watching me figure out who I am. Wholesale allowed you and I to both have breathing room to go do that. Mhmm. And I'm grateful for it. But at the same time, people go, so should I get into wholesale?
And I tell people all the time, personality wise, they come into my community and they go, you're not a wholesaler. You are a wholesaler. You're a private money lender. You should be doing multifamily. You should be doing RV parks because creative finance, obviously, can do all of these things.
Right? And some lady goes, why so why would you tell me not to get into wholesale? And I go, one, it's not your personality type. Mhmm. K.
You gotta be a little bit of a lunatic. Just a little bit. And then two, the first I want you to know, the first question people ask me ask me about wholesale is how do I get in? Next question they ask me is, how do I get out? You don't get people asking you, how do I get out of RV parks?
How do I get out of mobile mobile home? So how do I get out of, multifamily? You don't people don't ask those questions. But in wholesale, it's like, how do I scale? I go, here's how you scale.
Fire your whole team and buy some assets. And not just single family, but some bigger stuff. Mhmm. But wholesale is still part of what I do. We probably bring in $4,050,000 dollars a month in wholesale stuff, but it's not direct to seller or agent.
Steve: Sounds like
Pace: I have one acquisition manager, by the way. One. His name is Ryan Wagner. He's in the office. He focuses only on multifamily.
Mhmm. Right? So, like, the motel we just got under contract, the super section eight, that came from Ryan Wagner, my acquisition guy. More stable, multifamily acquisition people are like, oh, dude. I'm I know that I they have to be on salary.
Why? Because single family wholesale, there's more at bats over and over and over and over. There's transaction after transaction, which allows people to make fast commissions really fast. In multifamily, RV parks, you know, whatever, business buying, whatever, the average duration between a purchase and another purchase is twelve to fourteen months. Right.
So these guys gotta be on salary. And so you gotta use wholesale to get to a point where you can hire people to get on salary to go after some of the bigger stuff because that's really where the financial freedom is. Like, I bought this RV park we bought two RV parks in Big Spring, Texas. And combined, the two of them will distribute to me in my pocket 18 a month. How many people could live on $18,000 a month?
99% of people. I can't. I know you can't, you rich son of a bitch. I am not there. Come on.
I know you can't survive it, but if you had a couple of those, you're done.
Steve: Oh, yeah.
Pace: You're done. And so I would argue to people, like, that are out there going, what pathway should I go? Is wholesale not for me? Dude, wholesale was by far the greatest thing that happened to me, but there's a duration where 99%, maybe 99.9% of people should get out of wholesale within probably thirty six months.
Steve: Mhmm.
Pace: You get in, you get transactions going, you understand the landscape, and you go, alright. I wanna go into this. I wanna go into self storage. I wanna go into land development. I go wanna go into this.
I got a student, Doren Levy. I was just with him in Philadelphia. I told you yesterday. Homeboy buys a $3,000,000 assisted living, goes and raises $8,000,000 from people in the community, so he's all into this thing 11,000,000. Goes and does a refinance on this motel he turn he turns into a hotel, nicest hotel in Philadelphia.
Refinances it at $39,000,000, pulls out 20 mil. Bro,
Steve: tell me that whole selling.
Pace: He ain't no. No. He does one transaction a year. Right? I'll build one community.
I'll build one thing. He's now gonna go build, an, like, a data center. Mhmm.
Steve: He's like,
Pace: I'm just gonna go build data centers. Guys, the real estate is the greatest thing on the planet. Wholesale is the greatest way to get into it. If you have not done anything and you don't wanna be licensed like me, I do not wanna be licensed. I never will be licensed.
I know you are. Are you still licensed?
Steve: Sole licensed. Lunatic. Haven't done anything with it. I'm sole licensed.
Pace: Okay. I'm not licensed. So if you wanna get into the business without being licensed, wholesaling is definitely the one.
Steve: Yeah. And I would say there's two different things. The thing you're talking about, like, how to get in, how to get out reminds me of, like, you know, the best days when you buy your boat. Mhmm. Second best day is when you sell your boat.
Pace: Yeah. The other
Steve: thing too is, like, there are people that I know that are doing really well at wholesaling. And the thing they have in common, all the guys are doing really well in wholesale.
Pace: Let me guess. Let me guess. Small teams doing the acquisitions themselves? Not necessarily. Using AI?
Steve: Not yet. Okay. What? They love the business. Oh, yeah.
Okay. Yeah.
Pace: I love the business too.
Steve: Yeah. But, like, you have to, like you loved it, but you fell out of love. You you love something No.
Pace: No. I love it still.
Steve: Do you?
Pace: Bro, I still go on appointments for student, like But that's
Steve: what I mean is, like, you don't wake up all day thinking about it.
Pace: I do.
Steve: Do you?
Pace: Yes. That's the problem. So I I if I could go back and fix what I I built, I wish I got I only stayed in whole I was full time wholesale probably eight years.
Steve: Mhmm.
Pace: I was acquiring assets through the time, but I was doing it more as a tax benefit rather than understanding I should be buying assets that will get me out of wholesale. I was buying assets to keep me from paying taxes, thinking wholesale was gonna be my forever business. I still wake up in the morning and go, how do I go on an appointment and get in somebody's living room? Trevon, just a couple of weeks ago, we had this so we're you know, I'll make the calls for members of my community, and I'll go, alright. Give me the worst possible leads.
I love them. I love the objection handling. I love all things. You and I are the same way. Like, give me the sales process.
I wanna go through the thing. And I love people. I love the story of the people. I wanna smell their freaking living room and their freaking cats.
Steve: Addicted to that fart.
Pace: I'm addicted to the people's cats' farts. Like, I I want every part of the thing. So I take this call the other day, and this agent's like, thank god you called. You are an answer to my client's prayers. You've heard this stuff too a thousand times.
It's like, how would you ever get over that? And the agent says the seller, her name is Ginger. Her husband was hit by a semi truck, lost three limbs. They have three kids under the age of four. She doesn't make enough money to keep the house, so I'm buying the house sub two.
And my member who said the appointment has got their first sub two this way, and they're like, is this what the business is like? I'm like, yes. Mhmm. That's exactly what this business is. It's helping people and making money in the process.
How can you not love it? The problem is once you get into it and you start making money, you realize that the only way to make more money is work harder. Mhmm. And so you really it's just the larger prison. You okay.
Great. I got out of the hole. I'm now in the in the gym. Or what do you call that? The the yard of the prison.
Now I've gotta escape the gates, and I gotta get on to true freedom.
Steve: So the way I described it, you know, we all read Rich Dad Poor Dad
Pace: Mhmm. And we
Steve: learned about the hamster wheel.
Pace: Right?
Steve: And it's like, oh, man. I gotta quit my w two. I gotta get out of this. I gotta get off the hamster wheel. And then we go into wholesaling.
Pace: Yeah. Which is a golden hamster wheel?
Steve: Is is It's, like, dipped in gold. The difference is now you're driving Lamborghinis because you have to be in a Lambo Yeah. Yeah. If you're at least gonna be on social media
Pace: Of course.
Steve: Selling. So, like, we just we just got in in Lambos, but we're still on a hamster wheel. We're just going faster on it.
Pace: Yeah. And I, you know, I love wholesale so much because of just helping people. And a lot of people, I didn't wear I don't think my logo's on my hat today. Well, it is. It's really small.
My little sub two logo, it's really small. But Yeah. You know, a lot of people don't know my logo is actually bunny ears. It's not actually sub two. It's bunny ears because the first deal I ever did was I helped a lady rehome her bunnies, and I made $25 in the process.
Steve: Mhmm.
Pace: And I just remind people, like, go find the bunnies. Go find the bunnies. It is a people business, and if you love people, you will make millions of dollars. Yeah. And it also gives you the confidence.
Like, think about you. I could drop you, Steve Trang, anywhere on the planet, anywhere on the planet with a busted ass Android phone. K? 2% left on the battery and go, if you don't get a deal by the end of the battery, go like, you go, I think I could probably do that. Yeah.
That is, in my opinion, actually what financial freedom feels like is having the confidence to be dropped anywhere with lack of tools and make money. Yeah. And that that what you and I have been through and and what you create for people. Right? You know, all these millionaires, I'm lucky enough to be one of the millionaires you help create.
That's what you do. You give them the confidence of option.
Steve: Mhmm.
Pace: Optionality is, like, the greatest thing, and then you can figure out what do I wanna do. Wholesale is for people that are like, I wanna be in real estate, but I don't know what. So let me go make money. Let me get into the thing, and then let me look at everything else.
Steve: Yeah. I mean, you look at, what you've done with sub two, how many people you've helped, what Jamil has done with Astro, PACE, Annie, and Evo with Batch. Right? Like, it's just crazy to see everything that we've done and then where that translates to, like, the next step
Pace: It's crazy, dude. Like the journey. We're very lucky. We've made I think the cream rises to the top. I've been really lucky to have some of my best friends on the planet be people that changed the industry.
You disrupted the whole industry. And you look at Jerry Norton, Jamil Damji, Jesse Annie Evo. You look at Brent Daniels, Steve Trang, all these people that all were hanging out in one location in Arizona and all went around the world and and created this domino effect. And I can't go anywhere. I can't speak anywhere.
I speak on some of the biggest stages now, which is pinch me. I'm dreaming. I'm I'm open for David Goggins. I'm doing all this cool fun stuff. And that started because of wholesale in our group.
Steve: Mhmm.
Pace: Like, our cool homies hanging out with each other. And I go to these hallways, and I'm talking to people, and I'm like, so how'd you first hear about me? Dude, you you and Jamille, you and Steve, you and Brent, you and Jerry. Oh, man. You and Jerry had that playlist changed.
Oh my gosh. My life changed. It's really hard to get out of wholesale when you change a lot of people's lives through wholesale.
Steve: And I still remember all of us hanging out at Jerry's place. Now your place.
Pace: Oh, yeah. Yeah. Yeah. Now my place. Yeah.
We've been there now four years. Yeah.
Steve: When we were hanging out there, it's like, what what's what's this guy trying to sell us?
Pace: Jerry? Oh, yeah. Jerry?
Steve: What's this what is the scheme? What is his angles? No. No. He genuinely just wanted to help us.
Pace: He genuinely just wanted to help us. And I there are maybe 10 people in my life that are as genuine as you, genuine as Jamil, and, very few people. I've I I hang out with a lot of gurus. They're I'm friends with them. And I look at them, I'm like, you'd I'm okay to be friends with you, but, man, the way you treat the people that pay you or come into your mentorship thing or whatever, it's like, there's a very small select group of people that actually care about their clients at, like, a level 10.
Steve: Mhmm.
Pace: Jerry Noren is definitely one of those people. Yeah. And I'm in a group chat with him, Jamil. Jamil is like he even recently went through a divorce, and now he's getting remarried. Oh, yes.
He's looking at having kids again. Like, dude, life goes by freaking fast. And and you gotta you gotta get on it. And, you know, life changes not just from your ability to see how to make more money, but also your kids and the dynamic of their lives change. And then the one day you're like, I'm gonna do this in business.
I'm gonna do this. I'm gonna go scale this, and then your daughter turns into a teenager. And then your this turns into that. And now you've got more demand at home, and then that takes you out. So you gotta make money where you possibly can.
I fear the people I know that you're just I know disruptor is not just about real estate. I know it's about other things, but I look at people and go, what if you're not in real estate in five years, I don't how are you gonna survive? Yeah. I don't know.
Steve: Well, I'm gonna have a big exit. Yeah. I have a big exit. What are you excited about right now?
Pace: I mean, bro, you we could go for five hours. I I'm I'm excited about a lot of things. I get let me rattle off the things I love more than anything. I'm still buying real estate. Why?
Could I could I quit? Yeah. I could quit, but I, enjoy the game, and I learn so much every single day. I enjoy paying new mentors every single year. I'm in a really high level mastermind right now.
I'm actually in three. One with Myron Golden. I'm with one, with Dean and Tony, Robbins, like, their quarter million dollar mastermind. And I enjoy hanging out with other happy, married, monotonous or not monotonous, monogamous, like, happily married human beings that just love to gush on about their wife and their kids. Like, I just love all of that.
And I've I've been hanging out with people that have been doing 300,000,000 exits going, okay. What? Maybe that's not me, but I just wanna be around people that are still inspired, right, versus the people that, oh, I made a net I'm a net worth of $3,000,000. I'm done. That's fun.
The other thing I'm really excited about is, I'm trying to retire the people on my team. Right? Like, it's now my obligation to go, okay. I went from a place of, you know, somebody filed bankruptcy on me in 2018. I lost everything.
I rebuilt all of that, and I got to a point where I don't need to work anymore. Now I get to work on what I wanna work on. Mhmm. And the thing I wanna work on is create, impossible pathways for people. Like, people that go, it's impossible for me to succeed.
Great. I will literally fly to where you're at, and I will document the whole process, and I'll give it to the industry. I want to be remembered in the next five years as I leave this industry probably in seven to ten years or, like, fully retire. I wanna be remembered as the guy that was, like, anybody that thought they had ex an excuse, that guy flew to their town, did the thing with them, documented it, did not let did not do the work for them, just showed them what to do, and then gave it away to the world. I'm excited about that.
I'm excited about I think that at the pace I'm buying real estate now, I believe I can retire, like, my top 25 people in the next five to seven years. And so I'm really excited about building my my empire for that. So I'm not really acquiring single family. I'll probably buy 10 single family this year. I see people like Michael Zuber talking about, oh, the recession's really bad, and these things are happening.
Guys, money is made in recessions. Don't go out flipping houses in recessions where the market is trending downward and not doing your due diligence. I have, like, 20 flips going on right now, but I took the ARB. I took 15% off the ARB, and I go, if I can still make money, then I'll do the deal. Mhmm.
So I'm doing flips very conservatively. I'm doing wholesale where necessary, but I'm buying deals that, solve affordability. And if you solve if you buy deals that are solving affordability, you're gonna win no matter what. So I'm focusing on buying, raising money, doing the thing, building my little empire, making things more efficient, waking up in the morning going, what do I need to learn today to make my life more efficient? And then also I've been putting on some weight, which has been great.
Been lifting a lot. So I've been and then Montana. Yeah. Bro, Montana, four or five months every single year and doing all of that. It's been it's been a blast.
Steve: Tell me about how you're going to retire your team.
Pace: Okay. So I'm giving 20% of my all my assets to my team. So, I'm giving them shadow equity. So, essentially, let's say I buy an asset today. It's worth 20,000,000.
I parcel out $4,000,000 for them. Obviously, there's debt on it, so it's not like they have a $4,000,000 net worth on day one. But what will happen is that asset will double or, let's say, you know, go up 50% in the next whatever. Whatever the rise of that $4,000,000 worth of equity is, that goes to the team. So let's say in ten years, it doubles.
They all that $4,000,000 gets spread around to them. So every asset I buy, 20% of it goes to that team as long as they stay with me for five years. Mhmm. So if you are with me for four and a half years and you decide I quit, I hate you, your beard is getting too long, it's disgusting, I quit, well, then they lose that 20%. And so I'm really excited about building that out because now it's got to a point where, I've got about nine women that kinda run my world, Molly, Jade, Ashley, Shelly, Kelly, Tayah, Sarabi.
I could go on and on. Incredible women that run my world. I really don't have a man that's running my world. I have a partner, Josiah. Mhmm.
But most of the people that run my organization are women. I'm like, how do I retire all of you? Well, the way I retire them is I buy assets, give 20%, and they stick around for five years. All of those assets we buy over five years, they have at 20% of it. Yeah.
They'll all they'll all walk away if everything works out great. I don't die and get hit by a bus. They'll all walk away with probably, I don't know, 4 to $6,000,000 net worth. That's insane. Yeah.
Like, that you can do that for 12 people just by buying real estate, that's bonkers. That is bonkers. So that's I'm excited about that. I'm trying to get my wife to have another baby. So shout out to my wife.
We are not fixed if you call it that. What do you call that? Vasectomy and whatever. We're not fixed like animals. I really wanna have more children.
She
Steve: have a a strong opinion on this. Yeah.
Pace: And we are also I'm trying to dial in my personal life. I feel like I've done a good job of that. I spend about forty hours a week with my kids. And I was talking to a guy a couple days ago. His name is Mundo.
And Mundo, I go, how much how many hours do you spend with your kids? Because he was talking about the imbalance. I'm like, what's the imbalance? He goes, well, I spend about fourteen hours a week with my kids. I'm like, that's an hour in the morning, an hour at night.
That's not enough, dude. Mhmm. Like, I spend fourteen hours on Sunday with them. Like, that all day Sunday is family day. We're doing all sorts of stuff.
Saturday is, like, seven hours. I'm twenty one hours just on those two days, and I'm probably another twenty hours throughout the other the week, two hours in the morning, two or three hours at night. I'm trying to expand that. So, what I'm trying to do is every year, I'm trying to take add another five hours to family time, five hours five hours to the point where I'd like to get to where Ken McElroy is, where he works ninety minutes every Tuesday.
Steve: Mhmm.
Pace: That's all he does. Everything else is content. Yeah. And so I'm, you know, I'm I'm lucky lucky that I have mentors like you, lucky that I have other mentors that I've been able to be around because I am nothing without my friends. I I would have never figured out any of this stuff.
I've been so, so eternally blessed. And so for people that are watching right now, the number one piece of advice I would give you is your family sucks. Like, they're nice people, but they're not good for you. Their advice, their little small mindsets, their criticism of your ideas and where you wanna go. Do you speak Chinese?
Steve: Speak Fujian, which is useless here.
Pace: Okay. It's useless. Okay. Cool. So, this is, an interesting thought process that I've been taking people through.
They go, oh, nobody supports me. I'm like, okay. Well, who are you talking to? You're going home to your wife. You're going home to your friends.
You're nine to five people, whatever, and you're speaking a different language to them. Right? So if you spoke Chinese or whatever, it was Fujian? Fujian. Oh, Fujian.
Okay. Is that is that spelled like f u c k e a m, Fakam?
Steve: F U J I A N.
Pace: Okay. So if you speak that to me, you obviously know I don't speak that language. Right. Who would be the crazy person in that situation?
Steve: You. I'd be crazy. Expecting you to understand it.
Pace: Expecting me to understand it. So I listen to people trying to talk about, I wanna get into real estate. I wanna do this to their family members, and their family members don't support them. I get it because you're speaking fuck them to them. Mhmm.
Is that what you say?
Steve: Yes. Okay. That's enough.
Pace: You're speaking a different language. You are bilingual. First language is normal speak. Other language is entrepreneur speak. And so you gotta get around people that are crazy like me, crazy like you
Steve: Mhmm.
Pace: Because this is all we talk about.
Steve: Yeah. Like Talk about, think about, dream about.
Pace: Stress about. Yeah. Like, I'm eating my wife. Like, my wife stopped asking me, what are you thinking about ten years ago? Because she's like, I already know what you're talking what you're thinking about.
Yeah. What you're gonna do right now?
Steve: What are you thinking about? Yeah. Nothing.
Pace: That stopped out. She stopped asking me years ago. She knows. I'm like, do you wanna know? Do you do you really wanna know?
Yeah. Because if you if I tell you, it's gonna be two hours of everything I've been working on today.
Steve: Mhmm.
Pace: And, I'm just excited for life. I feel fearful for a lot of people that are not taking action. I wish I could just invent a pill that got people as addicted to taking action as you and I I am.
Steve: And you know Ozempic for business?
Pace: Ozempic for business. Yeah. Or Viagra for business. Like, get you stay hard. You know what I'm saying?
Yeah. So I and I would say the easiest way to do that, you can't convince people of this.
Steve: No.
Pace: And the way you can the way I would tell people is, like, go join a mentorship. I don't care whose it is. Mhmm. Spend a little bit of money, thousand bucks, $3,000, $5,000, whatever it is, and get around other people that could write that check. Yeah.
The people that can write that check that are that committed to themselves, that will change your life. You know, sales training with you, you know, being being in your world and sales training, hanging out with the other people are learning the same thing. Iron sharpens iron. Right. So you guys out there that are in nine to five land going, I wanna start.
I wanna do this. I wanna do that. Okay. You're not going to. I if I wanna do anything on the planet, multifamily, RV parks, it is never ever a how question.
It is always a who question. Who can I be around that is as crazy as me, and how do I get in their circumference? Well, you write a check. It's the same thing. If I want those Costco samples, you gotta write $99 a check a a year for that membership.
Get in the right room. Either otherwise, you're gonna be stuck at Walmart while all the cool people are hanging out at Costco.
Steve: Yeah. Well, it's no different, than if you you wanna get good shape. You gotta have friends that are in good shape. Yeah. It's no different.
You wanna lose weight. You gotta have to have hang out with friends that are obsessed with fitness.
Pace: Or the same thing with, like, the way they treat their spouse or their kids. Like Yeah. If you hang out with dudes that are partying partying all the time, you're gonna end up partying all the time.
Steve: Bad decisions. You're gonna
Pace: make some stupid decisions. And, here's the thing. How did I become successful in real estate? Because I hung out with successful real estate people. I have literally done nothing on my own.
I felt uncomfortable around you multiple times growing up in this business, like, in the best possible way.
Steve: Mhmm.
Pace: Right? The way that you should feel uncomfortable. Like, I remember, Carrie, Parsons, Empire West, that whole title company thing back years ago. And I was having lunch with you in Scottsdale. I don't know what we're doing.
We might have been at the a mastermind, and you were talking about starting a title company and then starting a bank. And I asked you, I go, like, we're allowed to do that? Like, that's a thing? Yeah. And you're like, yeah.
Like, what else are we supposed to be doing? And I'm like, okay. Shit. Yeah. And that literally right there, that spark from a really good friend is more meaningful than any book I could ever read, any seminar I could ever go to.
It's like, where are those people? Mhmm. Right? Like, you know, people that are using your guys' objection handling tools, like, get around the people that are going through the repetitions, get around the people that are having those calls, get around the people that are, like, partitioning their calendar off and go
Steve: what days do you guys do your calls? Tuesdays and Wednesdays. Okay. Cool.
Pace: Are there other people that are on those calls? Absolutely. And they're lunatics.
Steve: Mhmm.
Pace: The best possible way.
Steve: Yeah.
Pace: Get your ass on those calls. That's the place that you change your life. You get around the people that make you feel that this is normal. Right. And get around the people that are living that normal life, because they're doomed to bro.
They're free. I don't know. I don't know what they're gonna do.
Steve: Well, if you look at, like, power of masterminds. Like, one of the best things about power a a masterminds.
Pace: But you can't convince a nonbuyer of that stuff. Like, when I first was in blue collar stuff, and I was like, I heard people go, oh, I joined a mastermind. Yeah. Scammed.
Steve: Mhmm. It's true. That that is that is the thought.
Pace: It's the mindset. It's like, oh, you're just trying to sell something. Yeah. So is QT trying to sell you gas, but you still need it for your car.
Steve: Yeah.
Pace: You it is it is I want you to finish that thought, but I want people to understand the smallest mindset of a person was where I was probably thirteen years ago. The way I got into this business was a lady named Bethany. She sold me her business for a $135,000. She sold me HomeVestor franchise. She's like, I'll help you, but you're gonna buy my business from me.
It's a $135. I go, oh, I have a $135,000. She was okay. I'll take $25 down. And my first thought was, oh, she's scamming me.
Steve: Mhmm.
Pace: Bro, that lady changed my life. Yeah. And I and she also convinced me. She she was going to masterminds at the time. She I go, where'd you learn this?
She goes, oh, this mastermind. Where'd you learn that? Oh, that's mastermind. So keep going with your thought. But, like, people that are listening right now, get your ass in a mastermind.
I don't care what it is. Get your ass in a mastermind.
Steve: Yeah. So the power of the mastermind is you your belief system changes. It has to change because you're witnessing massive success everywhere around you. Right? Like, if you're going like, if you're, like, crawling in business and you're you're surrounded around like, oh, that guy's got all these all this success.
And the best part here, I mean, there's no judgment. It's that if I meet Pace, he's not that much different than me. No. He's not that much better than me. Right?
Pace: I'm wearing flip flops right now, guys. I'm not I'm not even a real man.
Steve: So, like, you get to see, like, here's the success he's had. He's not that much smarter than me. He knows a lot more than me. He's got more wisdom. But, you know, like, is he, like, significantly better?
No. Not even close. And once you have this thing, like, he's human just like me. He has to go to the bathroom just like me.
Pace: Mhmm.
Steve: Right? He just has access to more information. And once you see the habits and you start absorbing those habits, then you become Obstacle
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Pace: Just like It's also look look at ChatChiBT, like, access to information. If if access to information was gonna turn people into billionaires, we all would be billionaires because we have access to all the information on the planet. Yeah. It's the applicable part of the information that's the hard part. Right?
So it's like watching another human being applying it. Right? So I know you're part of, Collective Genius or you were in the past. Yeah. And those are all a lot of heavy hitters.
Yeah. I didn't ever wanna be in Collective Genius. Wanna know why? Because those guys were wholesaling primarily. Mhmm.
And I said, I don't wanna be a wholesaler. I know that if I go stand next to somebody who has a cold, I'm gonna catch a cold.
Steve: Mhmm. So if
Pace: I go hang out with wholesalers, I'm gonna be a bigger wholesaler. I have no choice. If you've got a cold, I have no choice. But if I'm hanging out in the room with you, I'm gonna start sneezing. So I I you have to make the choice of where you go.
And I look at a lot of our really good friends are in Collective Genius, great mastermind. I just never was in it because I was like, that's a path to get become a bigger wholesaler. And I chose to go down other paths where there's masterminds in places to go, like sales training with you and other places. Those are the things that the pathway that I chose. But, again, if I could go back and smack myself, I'd smack myself over ever having a thought that a mastermind or piece of education was a a scam.
Steve: Oh, when I started in o seven, that was my mindset.
Pace: Of course. Right?
Steve: Like, hey. There's this guy who wants to teach flipping, but at $25,000, that's scam.
Pace: It's so silly how we we we change our mind. Meanwhile, you went and became an engineer.
Steve: Yeah.
Pace: And you okay. So let's argue the the scam theory here. Mhmm. You went did you pay for that college? No.
Because you're a smart Asian. Yeah. Free. Okay. I'm not a smart Asian.
So I I have a lot of friends that went to college Mhmm. And they paid a bill. Mhmm. And more importantly, they spent four years of their life or six years of their life to get a master's degree or whatever.
Steve: Yeah.
Pace: That is also expenses, living expenses, etcetera. It's opportunity costs that you put to the wayside. There's massive expenses that are there, and you're not even an engineer anymore. No. So where really, where was the greatest scam of all time was the thing that you're not applicably you're not applying to your life anymore.
Yeah. Meanwhile, every real estate thing that you ever did has shown up in your life in a positive way, but you thought that was a scam.
Steve: Right. It's, it's this is that Asian culture.
Pace: Yeah. Yeah.
Steve: Right? My my parents were like, you're gonna go to school and we're not gonna pay for it. Not the part about, like, we won't support you. It's like, you better have yourself together all through high school and get a scholarship because we're expecting you to go to college, and we're not expecting you to have any, debt through college. Wow.
So this is the expectation. You know, like, the whole thing like, we hear about, like, you have to get a 100%. Like, you get a 99. Like, why didn't you try harder? Yeah.
The next step of that is, like, you're going to college, and we're not paying for it. Like, you're gonna get a scholarship. This is not a nonnegotiable. Yeah. So, yeah, I won the ASU with fluoride.
I went to UC San Diego. They paid me to go to UC San Diego.
Pace: Wow. So But you don't use it?
Steve: You know what it what it did for me? There's two things that grad school did for me. First, when you compete against the smartest people in the world
Pace: Mhmm.
Steve: Because for Americans,
Pace: we can
Steve: go to any college we want. Right? For the most part, you said applying a degree or whatever. But just about, you can get to any school you want. To get into a a a good school from India, from China, from Taiwan, all these other ones, you gotta be one of the
Pace: best in
Steve: your country. Yeah. So I gotta compete against the best for all the other countries. And what I learned was that we're not as smart as the rest of these other countries. But, the things that we learn, you don't realize how valuable it is.
You take for granted. But American ingenuity, Right? The ability to solve problems. Yeah. Like, these guys can solve complex problems with a pencil and a calculator that I require a computer.
Right? But, man, when things got hard, I could solve the problem. Think I couldn't.
Pace: Ingenuity.
Steve: Ingenuity. Yeah. So that was it taught me that. And the other thing was humility because, like, I thought I was, like, hot stuff.
Pace: And then you realize I'm actually I'm not worth anything.
Steve: I'm hot stuff at Arizona State University. Right. At ASU, I was king of the country.
Pace: I'm the shit.
Steve: Yeah. Fuck them. Yeah. You get to I
Pace: speak fuck them.
Steve: Yeah. And then you get to, you compete against the smartest in India and China.
Pace: You're done. Yeah. I I it's for me, college was, I was 22. I just come off from my mission.
Steve: Mhmm. And
Pace: the first thing I thought was, let's go get to work. So I'm going to night school, and I'm working in the day. And then I get a job that is like, we'll pay you double at night. Mhmm. So I switched my whole schedule.
So I'm going I'm going I'm working at night, going to school on the weekends. Right? Like, at a satellite campus at Utah State. And I'm running the night shift, and we're building ladders, and I get a knock on the door. I'm I'm actually, like, the manager of the night shift, and I get a knock on the door.
It's pouring rain. I look out the door. I'm like, it's 11:00 at night. Why? What?
And it's like this guy with a hood over his head is knocking on the door. I'm like, oh, dude. Somebody's gonna shoot me. So I unlock the door. I'm like, hey.
We're closed. Like, we're closed. It's a manufacturing facility. What are you doing here? And the guy takes his hood off, and it's my college professor.
I'm like, what the hell are you doing here? He's like, oh, you're in one of my class. I go, yeah. I'm in one of your classes. What what do you need?
Like, I missed something in class? He goes he goes, no. I'm actually here to apply for a job. I'm like, okay. Come on in.
Get out of the rain. We sit down and have a conversation. He's like Interviewed with you? He interviewed with me. And right then, 22 years old, I was like, I'm out.
I'm out of college. There's no way you're gonna convince me that college is the way. If my college professor, who's a tenured professor, is not making enough money Mhmm. And he's coming to work night shift to cover the rest of his bills, I knew that that wasn't the path for me. Yeah.
And, unfortunately, I got into construction because that was another prison I had to escape from, but that also taught me a lot of things, taught me systems and processes and how to sell and how to convince people to choose me over somebody else, which what is wholesale? Mhmm. Wholesale is going to a customer's house, giving them an estimate, following up with them, following up with them, following up with them, and trying to beat out the other contractors. Right? That's basically what wholesale was.
So I got lucky. I'm glad construction really changed my life, but real estate was the thing that was
Steve: You know what I saw? The skill that I was impressed with with your construction side. On top of your attention to detail because you're maniacal with detail, you were the best at Instagram. That was your skill.
Pace: That was my skill. Right. Storytelling. The
Steve: amount you're of of revenue you could generate from Instagram.
Pace: Yeah. It's stupid. I bought I bought I'm so I'm in the process right now buying an RV park, and it came from my YouTube channel. Yeah. And it's a it's a park that'll make, like, $25 a month, and I'm paying the person that brought it to me $60 for bringing it to me, And they just brought it to me off YouTube.
I'm like, I I think, honestly, if I could teach one thing that people would actually follow besides creative finance because I I obviously, I'm obsessed with creative finance and being, you know, having ingenuity and figuring out a solution using something creative. But I would teach people to tell your story and talk about it on social media. But every time I do it, 99.9% of people will never actually implement building a brand.
Steve: Mhmm.
Pace: And idiots like me and idiots like you go and actually build a brand, and we thrive. Yeah. And so for those of you guys out there, like, hey. What should I post? All I was posting when I was a contractor is, like, what I was having for lunch and what backsplash I switched out.
Steve: It's always the backsplash. Yeah. Yeah. The the the the most likes are always a stupid backslash.
Pace: Yes. And so, that's actually how I built into the business. And then when I started getting real estate deals, I already knew the mechanics of Instagram. And this was before video. It was like you could only post photos.
Mhmm. And, like, then it was like, oh, you could have a slideshow.
Steve: Mhmm.
Pace: That was back when I I started on Instagram. So I got very, very lucky. I've been I've been so blessed and so lucky my whole life. And so for me, somebody asked me the other day, why are you trying to help this homeless lady? I'm like, I kinda feel like it's a responsibility of mine and anybody else that's been born on third base and has been given all these other opportunities.
It's my responsibility to help other people document it and then give it away for free. Now giving people my time, giving people your time, like, getting into your coaching calls and actually spending time with you is a different thing. But, like, let me give away free courses. Let me go give away all that kind of free stuff. And so I'm grateful to be in the position I'm in.
I wanna keep working. I I probably have more energy today than I first when I first met you.
Steve: Still.
Pace: Yeah. In 2018 when I was first on your podcast, talking about, how do I close deals in HomeVestors and, you know, personality type blue, red, green, and yellow, and people go in and grab the milk. And I still remember sitting there so nervous to go on that podcast, and you dude, you changed my life. Yeah. You changed my life.
You changed Jamil's life. You changed Jesse Burrell's life. You have yeah. I in my phone, you are Steve Trang, the kingmaker. You've made a lot of kings with real estate disruptors, and now the show is just disruptors.
Steve: Mhmm.
Pace: But, dude, you've done one hell of a job. One hell of a job. So impressed by what you do. So grateful to call you a friend and a mentor, and appreciate you having me back on the show.
Steve: Appreciate you jumping on and sharing. I mean, like, the stuff you're talking about is so timely. I think people need to hear it. They might not wanna hear it.
Pace: They don't wanna hear it.
Steve: And then they'll Or they need to hear it.
Pace: Yeah. The ostrich in the head head in the sand, and the government can only write so many checks, guys. Like, you gotta take care of yourself. You gotta figure out think about this. Last thing I'll say, RV parks, mobile home parks, self storage, that kind of stuff sounds really daunting.
I know that when I was first starting in real estate, that stuff sounds scary to me too. Yeah. Totally get that. What I teach most of the, my sub two community is, like, let's just go get you three rentals in the next three months or go as slow as you wanna go. Three months three rentals in the next nine months.
And they're like, well, how? I don't have money. I'm like, okay. This is what is cool about creative finances. Let me show you how to do this with no money.
Most of Padsplitz houses on the market right now are sub two members houses. It's like 80% of all Padsplitz inventory is sub two member houses. Wow. Think about how crazy that community has changed the whole entire landscape of, of real estate. So I would say these pad splits are netting $1,500 every single house.
Net net net in your pocket after CapEx, after, like, management payments, blah blah blah, whatever. Utility, everything. Literally everything. $1,500 a month. You multiply it by three, you're at $4,500 a month.
Even on single family, super easy. Padsplit manages them for me, makes it really easy. Guys, like, you're not far away from being able to quit your job. And this whole belief system of, hey. The recession is coming.
Yeah. The recession is always coming. So maybe you should just stop waiting. I had, I was watching Michael Zuber the other day. He's like, yeah.
If you're in real estate, you should be really careful when you buy. I'm like, if you're burnt doing the BRRRR strategy, I guess, where you're refinancing at seven and a half or seven or six and a half percent interest. But if you're getting two and a half like, this lady that it just the lost her her husband lost three limbs, we we took over the mortgage at 2.25%. What do I care about what the recession's doing? Does it cash flow, and can I make money on it right now?
Mhmm. And can I be in the deal with no money out of pocket? Yeah. The answer is, guys, yes. You can jump into single family, get a couple of deals, then start graduating into some bigger stuff, fourplexes, twelveplexes, 20 fourplexes, and you can do it all with creative finance.
But the time is now. It's not it's not tomorrow. The time is now. Like, get into what Steve is doing. Get into what I'm doing.
Hell, go find somebody you like better than me that doesn't have as nappy of a disgusting beard. Go find a mentor and go pay them money. Get in their orbit, and get around the other people that that, they're teaching. Your life will change. Your wife will thank you.
Your kids will be protected, and you'll be able to put a moat around your castle by owning real estate. Go build a moat around your castle. You got five years, in my opinion. Steve thinks it's
Steve: twelve months. Yeah. Yeah. Perfect. And that's a great way to end it here.
Pace: Appreciate you, brother.
Steve: Thank you so much. Thank you. Appreciate you coming back on.
Pace: Real estate disruptors, 2025. We'll be back in 2028 if the robots haven't taken us over later.
Steve: Or use AI to generate base. That is correct. See you guys next time.
