Joe: Welcome. This is the Real Estate Investing Mastery Podcast. Hey, what's up guys? Welcome to a brand new YouTube video series I'm doing called the New Market Video Series. This is something I haven't done in about three years. We're going to go in and pick a brand new market, one that we've never done a single deal in, and we're starting from zero on camera, live. We're going to be picking the market, building the list, sending real actual offers, calling sellers and realtors. No theory, just watch what we actually do. It's going to be so exciting.

Joe: So one of my favorite ways to sell deals is with owner financing. What I mean by that is you either buy it with your own cash, or you bring on a private investor to finance it for you, or you ask the seller to carry the financing. You buy it and then you sell it on owner financing. I want cash flow. I'd like to get $200 a month on cash flow. Think about the numbers. You get 10 deals paying you $200 a month for 10 years. That's $2,000 a month with just 10 deals. That will pay for most of your mortgage payments. Imagine not having to worry about mortgage payments anymore. What about $4,000, $5,000, $6,000 a month? That will pay for almost all of your debt. All of you out there have a mortgage, car payment, student loan payments, credit card payments. If you total it all up, the average total debt payment in the United States for families is about $4,500 a month. Imagine if you just did 15 or 20 of these deals, one or two a month, and in one or two years you have enough cash flow coming in, passive mailbox money, to pay off all of your monthly obligations. So you're not technically debt-free, but you're living debt-free because you've got income from these cash flow-producing assets paying all of your payments for you. Imagine how much less stress you would have if you didn't have to worry about where the money was coming from this week, this month.

Joe: Now I know some of you are thinking: what if one of the buyers stops paying? No, no, no. When we sell land on owner financing, for every one call we get from a normal cash buyer, we get four or five calls from an owner financing buyer. So we sell these deals three times as fast. You don't need to hire a realtor. You can just put these things on Facebook Marketplace, Zillow, For Sale By Owner, land.com. And if you advertise your deals with owner financing, you sell them a lot faster. So if a buyer stops paying, not a big deal. You just find another buyer and you'll find one within a month, easy. And you'll actually make more money because the price can go up, you get another down payment, and you get an additional 10 years of financing payments. Does that make sense? There are so many reasons why I love owner financing, and I'm hoping I can encourage you guys to think about this as well.

Joe: So having said all that, I want to go into markets where a lot of owner financing is already happening. I want to target one to two-plus acres, nicer properties, not cheap infill lots with a ton of competition. One of the first deals I ever did with my boys, and I talk about this deal all the time, was in Suwannee County, Florida. This was a 1.39-acre lot. We sent the seller a postcard and letter that sent them to a voicemail. We sent him an offer for $3,772. He accepted the offer but wanted us to close in 30 days. We turned around and sold the deal for $13,000 on owner financing, $250 a month for five years. Our total profit on this deal was $12,500. Our cash-on-cash return, that's the return on your actual cash invested in the deal, was 125% in the first year. Even if you're only hitting 60% cash-on-cash return, do you realize how amazing that is? The average return on the stock market is 8%, maybe 12% depending on your timeframe. You're lucky with houses to get 10% cash-on-cash return on an investment property. But with land, you should be getting a minimum of 50% cash-on-cash return. And if you don't have the $3,800 to buy this property, we're going to show you how to get the money, either from the Dirt Flippers Community or from the seller directly.

Gavin: Yeah. Hopefully you're picking this up, guys. The last time, Joe, it's probably been three years since we did a new market challenge or boot camp, and it was one of our best-viewed pieces of content because people loved seeing how you actually go into a new market and start implementing. And as Joe said, looking at the owner finance way, I do a lot of just buying and selling. We just did one at $3,000, sold it for $18,000 and it's already closed. And one thing we're working on in the Dirt Flippers community is getting bigger spreads. Now $3,000 or $4,000 on a deal is good, but there's no reason why you can't start making $10,000, $12,000, $15,000 on deals as well, and they don't need to be high-end land priced at $200,000 or $300,000. That's not what this is. And remember, you're only one deal away from changing everything. As Joe said, and I should learn this because I did the same thing with houses, you just get on the hamster wheel of moving land, wholesaling deal after deal, and you never build that cash flow. So one of my strategies going forward is: wholesale or sell two deals, and then hold one. Every third deal I'm going to try to keep or do an owner finance deal to build that cash flow as well.

Joe: Yeah. And here's the deal. With any one of these deals, you can decide: I'm just going to wholesale it and make a quick $5,000 or $10,000, or I can sell it with owner financing. You get to decide. And we have some clients who say, all right, every first deal of the month I'm going to wholesale, and then every other deal after that I'm going to sell with owner financing. That's why I love owner financing. Now here's where it gets fun. The next video, we're going to pick a brand new market from scratch, and I'm going to show you exactly how to do it.