Use Other People’s Money to Create Wealth
Disruptors
Steve Trang
5 • 741 Ratings
🗓️ 10 September 2021
⏱️ 75 minutes
🧾️ Download transcript
Summary
Sam Primm is the perfect example of how to use Other People’s Money (OPM) to build your real estate empire. You can’t build wealth by saving money; you have to take action and do something. Using Other People’s Money can enable you to build your real estate investing business faster and bigger.
Video replay of my interview with Sam Primm about Using Other People’s Money to Create Wealth:
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More about Sam Primm and Using Other People’s Money to Create Wealth:
Sam was born and raised in St. Louis, Missouri. He had a pretty normal childhood growing up playing sports and hanging out with friends and family. His Dad was an engineer and Mom was a teacher. He went to college and got his MBA in Marketing. After college he got a job working for a local Cat Construction Equipment dealer and got married to his amazing wife shortly after that. He enjoyed his job and was making very good money but the challenge and potential impact were not enough for him. He always had an entrepreneurial itch and was looking to scratch it! He started to invest in real estate on the side with a buddy, Lucas. The goal was to create something special but they did not know exactly what… yet!
Eventually they built up enough of a rental portfolio and enough contacts to both quit their job and go full time into real estate investing. Over the next few years, their rental portfolio grew as did their companies. Flash forward to today and here are their real estate companies:
FasterHouse-Flips over 200 houses a year
FasterFreedom-Premiere real estate investing education company
Rental Portfolio-20-million-dollar market value-single family rentals, small apartments, and storage facilities
Greater STL Rentals/ Midwest Property Group-Property management companies
Greater Giving-501(c)(3) is dedicated to the awareness education and advocacy of mental health in our community.
Nowadays, Sam’s main focus is growing the FasterFreedom education brand by being very active on social media and offering mentorships to teach people how to achieve financial freedom and create wealth through real estate investing through his proven methods.
Most importantly he loves to spend time with his wife and beautiful daughter, Maisie
More about Sam Primm: https://www.youtube.com/c/samfasterfreedom
https://fasterfreedom.com/
[email protected]
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Takeaways on Using Other People’s Money to Create Wealth:
* BRRR – Buy, Rehab, Rent, Refinance, and Repeat* Property management is a hurdle in BRRRR.* BRRRR and rentals thrive in the Midwest.* Depreciation and Cash-out Refi are excellent tax-saving and money-earning strategies.* Local connections and mentorship are the keys to success* Understanding the seller’s pain points is vital in sales.
Transcript
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| 0:00.0 | Hey everybody, thank you for joining us for today's episode of Real State Disruptors. |
| 0:03.7 | Today we've got my good buddy Sam Prim with Faster Freedom and he flew in from St. Louis, Missouri |
| 0:09.1 | to talk about how he built a $20 million portfolio without using a single dollar of his own money. |
| 0:15.4 | If this is your first time tuning in, I'm Steve Trang Sales Trainer for some of the top wholesalers in the country, and I'm on a |
| 0:21.3 | mission to create 100 millionaires. The question I get all the time is how to become one of the |
| 0:26.1 | 100 millionaires. The information on this podcast alone is enough to help you become a millionaire |
| 0:31.5 | in the next five to seven years if you will take consistent action. If you want to get there |
| 0:36.8 | faster, please send me a DM on Instagram, and we'll see if we can help you get there. If you want to get there faster, please send me a DM on Instagram, |
| 0:38.6 | and we'll see if we can help you get there. If you get value out of the show, please tag her from |
| 0:43.1 | below, share this episode right now. That way we can all grow together. And this is a live show, |
| 0:47.4 | so please ask your questions for Sam to answer. You ready? Yeah, that was hard for me not |
| 0:51.6 | interrupt you. You did good. Thank you. Thank you. |
| 0:55.0 | All right, so first question is, what got you into real estate? |
| 0:58.0 | So I had a full-time job, out of school, and was making pretty good money, but I kind |
| 1:04.0 | of looked ahead and it wasn't going to be enough for me in general. |
| 1:07.0 | I wasn't going to be able to create enough wealth. I kind of want to make an impact and be able to impact my family for generations. And it's impossible to do that. Work for somebody else. And real estate was the next best thing that I saw that creates wealth and creates millionaires. So I decided to get into it. So you went to college. Yep. Graduated. When you graduate? |
| 1:27.0 | 2011. 2011. So you graduate? 2011. |
| 1:29.1 | 2011, so you're a youngan. |
| 1:34.3 | You go and get your regular W-2 job like you're supposed to. |
| 1:36.0 | Worked your way up to corporate ladder? |
| 1:36.6 | Yep. |
| 1:38.2 | That's what I was taught. |
... |
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