how @PaceMorby went Broke?

Jesse VasquezMay 20, 20240m 48s3.8K viewsScore 65
Growth & Marketing
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Multiple Properties
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Summary

AI-generated

Pace Morby recounts a period where he "lost everything" due to a construction company customer filing for bankruptcy with \$16 million in debt, making Pace the largest creditor. To cover his own company's payroll, he had to take drastic measures.

Key insights

  • Pace accumulated 43 rentals through sub-to and seller finance.

Mistakes to avoid

  • Relying too heavily on one large client for your business can lead to significant financial losses if that client defaults or goes bankrupt.

Tools & resources

  • Homevestorsservice

    Homevestors franchise

Curated by Learn STR by GoStudioM · Summary & key insights generated by AI · Reviewed by editorial