September 6, 2018

How Owner Finance Works: Turning Trash Into Cash

Episode 226:

How Owner Finance Works: Turning Trash Into Cash

As an author of one of the top real estate investing books, MY LIFE AND 1,000 HOUSES, Mitch Stephen hosts real estate investing seminars and teaches real estate investing classes to help anyone who wants to create additional income through real estate investing. From real estate investing 101 to advanced real estate coaching, Mitch Stephen has guided many real estate agents to advanced success!

Brandon Gaunce was notified in November of 2013 that his corporate job position was being eliminated and his options included relocating within the US or taking a demotion to stay in his hometown and face a 2-hour one-way commute to and from work daily and he needed to decide by May of 2014.

During that time, he met Mitch Stephen who expressed with empathy that there could be another option if he was willing to be a good student and put in lots and lots of effort! Brandon chose this option and became a student of Mitch’s while taking on a part-time job to help ease the transition.

2014 was a tough year, but Brandon and his family made it through successfully by doing just 3 deals and now, a short 4 years later, Brandon has carved out his own little niche in real estate. Coupled with Mitch’s Owner Finance Model, Brandon is averaging 40-50 property acquisitions per year and has an annual income 4 times that of his previous corporate job and a net worth of close to 1 million dollars. He is forever grateful that God put Mitch in his life and doesn’t know where he would be today otherwise!

What you’ll learn about owner finance in this episode:

  • How Brandon went from earning $70,000 plus bonuses annually in corporate America to a net worth of more than $680,000 in his third year as a real estate investor earning more than $300,000 that year alone
  • The shocking thing about the way Brandon made his money as a real estate investor (hint: it wasn’t in large cities)
  • Brandon’s affection for ugly properties and how those ugly houses, mobile homes, and unimproved lots can earn very pretty money
  • How realtors are leaving money on the table by not taking on these types of houses and presenting them to investors and other potentially interested parties
  • Why Mitch suggests Brandon think twice about bringing his wife into the business
  • Working through the lows to come out on top
  • How sometimes the highs and the lows in real estate and any other investing come in the same month, nearly at the same time
  • Brandon’s business high moment and Mitch’s role in that special moment
  • How Brandon is able to have a closing rate of nearly 80 percent
  • Why tenacity is one of Brandon’s greatest assets

Resources:

Learn More About Owner Financing…

How Does Owner Finance Work?

Learn how to stop being a landlord and start being the back with the help of Mitch Stephen’s Real Estate Mentor Program!