Scaling Your Portfolio 100% with Other Peoples Money | Your Biggest Deal ep. 3

Joseph Williams: 0:00

Welcome to your biggest deal podcast, with Joseph Williams. Connecting you with top real estate professionals and entrepreneurs from around the country about the deals, strategies and motivation that made them successful and will help you reach the next level. This is your biggest deal with Joseph Williams. Okay, people time to listen up, Sam Primm is going to drop some serious knowledge about OPM other people's money. He has leveraged it almost since day one, to quickly grow a serious portfolio. And recently refi out over $800,000 of tax free money in his pocket. Imagine picking up a cashier's check for 100 G's baby. So listen up, here is Sam Primm. Welcome Sam Primm to the your biggest deal show. Thank you so much for taking the time out of your busy schedule to spend some, some some hours with us that's going to improve everyone's mindset around debt equity, and how it can benefit them. Not only in the short term, but in the long term to really grow their wealth significantly. In a very short time period, when you really look at how much it would take, how much time it would take to accrue that amount of money by earning it through your traditional w two. Job. So Sam, if you could just kind of kick it off. Tell us a little about yourself, where you're from and and how you got to where you're at right now.

Sam Primm: 1:39

Awesome. Well, I appreciate you having me for sure. Yeah, like, like you said, my name is Sam Primm , I'm a real estate investor, I started out doing it on the side with a full time job, like most people do with starts off as a side hustle, I was able to create enough traction, I guess that started in about 2015, I was able to create enough traction and do enough deals and wholesale and flip and build rentals, enough to where I was able to quit my job and become a full time investor in 2018. And since then, I've been able to acquire a $16 million rental portfolio, as you said, without using a dime of my own money, as well as we flip about 200 houses a year, again, without using any of our own money. So I've just been able to understand debt and leveraged debt, and utilize that to you know, grow my wealth and be able to become a full time real estate investor and be able to become financially free without using a manual money. So it's kind of a beautiful thing.

Joseph Williams: 2:32

Yeah, we were talking before we started recording about Sam using OPM other people's money. And he has leveraged that to an extreme for someone starting out and just kind of diving in on that route. A lot of investors seem to understand that later on. But for you to kind of take that course right out the gate, and ramp up so quick. You know, I think that's something that other people could say, hey, I need to do it, like the big guys are doing it, you know, right from the start, versus, you know, trying to bankroll it all yourself. Like, like I said, so. So what this show is all about your biggest deal, the deal that either changed your mindset for the future on your career, or it could be monetary wise, it sounds like you kind of got both of those wrapped into one of your deals. So if you kind of want to like tee up that deal, and then we kind of do like a deep dive on it and kind of unravel that onion a little bit.

Sam Primm: 3:31

Yeah, for sure. We'll kind of start at the end and work your way to the beginning and back towards it. I like it. So my biggest deal was kind of a monetary thing as well as a proof of concept I needed. That proof of concept that we'll talk about, that everything I had done over the past few years, it all kind of boiled down to one big deal with a good amount of money, and just kind of proved that the concept and the things that I had been doing worked and will continue to work. So what it was was it it was a portfolio refinance, it was about a year and a half ago, I had a rental portfolio worth about $8 million. And I did a cash out refinance to where I pulled out$880,000 of tax free as we were talking earlier money because when you do a refinance, just like on your personal house, same on on on actually like rental houses or rental properties. You don't have to pay any tax on that money you pulled out so the end of the deal was $880,000 cash out refinance was able to pull all of that out of the portfolio and not have to pay any taxes on it.

Joseph Williams: 4:29

Yeah, that is amazing. And just for clarification, everyone that is not a lot of credit, a HELOC. He paid off all his old debt, brought new debt on board. And but when he did that the property's appraised at a higher value. And he was able to take a percentage of that out and actually put it into his savings or checking account and he can go do whatever he wants for it.

Unknown: 4:53

Yep, yes, yes, check, go do whatever you want. Just like cash

Joseph Williams: 4:56

have fun, tax free which is which is what does that like probably 1.2 million tax money. Yeah. Yeah. So that that's that is a amazing deal. Now, you said you had a pretty large portfolio. You had you acquired those properties over time, like one by one using other people's money as well, which I'm assuming and I mean, were they flipped so you get a wholesaler? Like, how would you grow such a large portfolio? And a relatively short amount of time? Yeah,

Sam Primm: 5:26

for sure. So we grew it in about a five year timeframe, I would say, me and my business partner, Lucas. And the majority, I'd say 80% of that was in that last two, two and a half years. So most of it was toward the latter part of what was going on. But yeah, we kind of acquired properties, or they were single family rentals. We had a couple of smaller multi families in there. But yeah, we did everything using other people's money. So we went into debt to buy an asset that produces cash. So kind of to we talked a little bit earlier about tick tock, I have one tick tock that has you crazy, we didn't I didn't tell you this, Joseph, it was kind of my first big one. It has three years of watch time, and it's a 42nd Tick tock, so it has three years. So go back three years ago, that's how long that video has been watched, which is crazy, the videos, you know, six months old, but anyways, yeah, and the kind of the thought behind that video and kind of what I've been known for what I've been pushing and teaching and preaching, because I've seen the proof in the pudding with this refinance is you can utilize other people, other people's money to grow wealth, the biggest differentiator between, you know, the lower class and the middle class. And the upper class is your understanding of debt, and your, you know, your understanding of it and your leverage of it. If the upper class you know, you'd like you talked earlier, people that you know, that have big businesses and do big things and you know, people that have these huge portfolios that learn how to use debt, you know, most of them learned it down the line, but I kind of learned it from the beginning, we need to do what all these other big people do in these big investors as well as these companies, they utilize that the wealthy people utilize other people's money to buy assets they couldn't pay cash for, and then they take the cash flow from that asset and they pay off the debt. So you know, I owe the banks a lot of money, but I don't pay it all my renter's pay it and then the properties go up in value, and then eventually I can pull out that equity like I did, and you know, take out half a million million dollars, whatever it is tax free, because of the equity that was created by other people's money.

Joseph Williams: 7:22

Yes, and you kind of touched on a lot of things that is a double edged triple is I'm gonna quadruple edged sword there, not only do the properties go up in value, you're also paying down your debt on that property. But as a you're not paying it, your your renters are paying it, you also are able to depreciate the asset, right to help with taxes, and you're getting hopefully getting cash flow every month off of it. So there's four things of just having one, one house or one apartment building, that all benefits you. And at the end of the day, after that initial acquisition, either your money or someone other people's money, they all benefit you, but someone else is actually funding that bill for you. When it comes down to it. Now, when you look at other people's money. A lot of people they're worried like, Well, how do I find money? You know, things like that. And I'm sure you will say my biggest piece of advice is just find a good deal. If you can find a good deal, you can find the money, right? So what who have you leveraged the most is a bit hard money national, there's a guy on the street you shaking hands with for private money? Is a community banks and how did you kind of build those relationships?

Sam Primm: 8:35

Yeah, great, great question. So kind of all three, you kind of alluded to all three of them, the three biggest buckets are going to be that private money, that hard money, and those are both for the short term purchase and you know, rehab, and then the long term funding is comes from the small local banks or credit unions. So those are the three buckets mainly, and the majority of the initial purchase has been from the private lenders, just people we know, people we've come across like you said, if you find good deals and people know that you're out there finding good deals, money will find you I love telling kind of the some of the you know, people that I teach and coach, you know, that money will find you and they kind of roll their eyes like okay, you know, I'll look for money. But I'm going to use you know, a hard money lender, for example, for now, because hard money lenders are companies that you just Google them and find them. So they're super easy to find private money's a little bit harder, but 234 months down the line, they've done a few deals and they say, actually, my insurance agent, you know, saw that I was doing deals and he offered me $100,000 To you know, invest and play with or the person doesn't my taxes has offered me some money to you know, to do it or you know, my, my neighbor's boss has always known. So those are all real life examples of people that I've talked to in the past three weeks of money that finds you, you just need to get good deals. You'll figure out the funding worst case you can wholesale it, and then over time, money will find you but in the meantime, you know, there's hard money lenders, you just Google people think I'm being like kind of like a smartass. But you just Google hard money lenders near me. They're all out there. They're just Googling Google. They want Gonna be found they just aren't always the best marketers. But you know, the good legitimate hard money lenders, which is who you want to deal with have websites, they have Google reviews, they're better business bureau, they're all out there, they just you just need to find them by Googling them. Or asking other people, other investors, then that hard money is kind of that little unicorn that you always need to be looking for whether it takes you two months, or six months or two years to find a good hard money or a good private money lender, excuse me, that is where you can really, really make an impact. And that's where I'd say 80% of our deals have been through private money. And then going over to the small local banks once once we refinance.

Joseph Williams: 10:31

Yeah. And so for me, personally, I consider private money, even guys here that lend money for per full time job, right? There's someone you go shake their hand, and I can sort of hard money more like you said to Google, or I've even gotten direct mail from investment properties from hard money lenders, like, hey, we want to lend on your next deal. Things like that. So and here's a great nugget for anyone looking for private money. That's not not Google, sometimes, but go to your local Rei meetings, right? When I first started a wholesaling deals, kind of control my own deal flow, going to these meetings just to meet other investors, the first one I went to, and that's three private money guys that had worked with pretty much everybody in the room. So if you've got any kind of experience, it can show that you're capable of flipping a property. Not only can they provide great advice on the current market, because they're working with a lot of investors, they're also your funding partner, right? So there are some guys here in I'm in Richmond, Virginia, that, uh, you know, it's easy, just go in, meet with them, they walk your property, and they'll fund almost 100% of it. First deal, probably like 95. But I mean, that's pretty good when you're buying $100,000 Flip, ya know, if you can't come up with five grand, you're probably in trouble. Just

Sam Primm: 11:51

just request Frank Cava, he'll give you the money.

Joseph Williams: 11:54

Yeah, right. Yeah.

Sam Primm: 11:56

Wholesale it to you. Yeah. Wholesale to you. But yeah, like you said, yeah, there's all these hard money lenders and private money lenders that you can meet these local meetups, and there's local Facebook groups. And you know, just by asking around, they all understand they have to work with new people like get all the time Well, I don't have the experience of track record you have. All these lenders know that they would go out of business, if they only deal with their current clientele, they all want to grow, they all have money sitting on the sidelines waiting to lend. So they understand they have to work with new investors, like you said, maybe they'll only lend 90 or 95% at first, but you'll get them up to the 100. The first few deals are going to be the hardest, probably the least profitable, but get those under your belt and everything becomes a lot easier.

Joseph Williams: 12:35

Yeah. And then so I wanted to ask to like when you're working with the community banks, for people starting out, if you get on the phone and call Bank of America, or Wells Fargo, you're not gonna get very far you can get on get on Google again. And you can literally Google local small banks. And literally, there's lists out there. It's not even like the end of a website. There's like independent lists that just show you everybody in your area. And it's some of them don't go out of state, but some of them do. So you can even reach out and adjoining states, things like that, to look for that. But you are you're refining out of the property, holding it as a rental. And are they doing portfolio? Are they doing like multiple properties at one time and bundling them for you? Or are you just kind of doing one offs?

Sam Primm: 13:19

So yeah, like with the kind of they'll do both. So we've done a ton of one offs. We've done 27 houses at one time with one of them. We're doing an 11 pack right now 11 houses, and then they've done complete refinances, which is kind of what the the topic of this of this podcast is, you know, the one that I'm doing is that$880,000 One, but yeah, they'll kind of do anything, the small local banks, people need to understand kind of a quick lesson on them, they have so much flexibility compared to Bank of America, commerce, banks, all these big banks, those banks, those banks have all these federal guidelines, they have to go by, they sell, they take them, they take the mortgage from you, and then they sell it on the secondary market to like Fannie Mae or Freddie Mac and Fannie Mae and Freddie Mac have trillions of dollars in loans. But they also have all these stringent guidelines that these banks have to meet in order to sell it to them, you know, they just make a little profit. But the small local banks, they keep these notes in house, they don't sell them to Fannie Mae, Freddie Mac, they have so much flexibility. They can do 30 uranium as opposed you know, some other banks might not they can, they can do less down, or they can do lower interest rates, or they can package things together, they can honestly almost do whatever they want, within reason. And they won't always do that. I mean, eventually, they might if you have relationship with them, but they can. I mean, we took two, we took one of our portfolio refinances that we're talking about, we got a 30 year amortization, which is pretty hard to do in commercial lending, as well as a 10 year fixed rate at you know, 4%. So we're able to get crazy rates that you couldn't get anywhere else because we had developed a relationship and because that bank has the flexibility to do what they want, because they keep the note they keep the notes in house and make interest on their monthly they don't just make a chunk when they sell it off to you know, the secondary market.

Joseph Williams: 14:57

Yeah, that's great advice. And here's another tip A bit too with we're just working with the community banks call a bunch of them. Some of them the appetite changes at them, right. So like, just recently, I was reaching out to community banks, and we've had all of these COVID loans going on whatever it might be ideal PPP all this stuff going on. But a lot of the ones their appetite changed, because they were just getting the government secure PPP loans. And they were just rolling those out the door, right. So I found the right person, literally, it's like the vice president of commercial lending for a small community bank, and I was looking for a credit line on collateral. Collateral loss. So there's, I'm not signing anything for houses or anything. And he's, I'm what you want? I said, 250k? Yeah, no. And he goes, Well, a couple days, I came back, he said, Well, if you do 249, I don't have to send it to anybody. And I could just sign it. And I said, Okay, deal. Easy. Yeah. Do I get to that? So you know, and that allows you to go flip 234 houses and whatever, whatever your market bears with that price. And, you know, you're paying like, I think it's, you know, prime plus one. So like, right now, it's like three and a half 4% interest, annualized. So I can kick out 250k for the entire year at 4% interest if I wanted to, and it's

Sam Primm: 16:16

just raise money with with appreciation and inflation that is literally free money.

Joseph Williams: 16:20

Yes. 100% 100%. And that's why you've alluded to it and the whole whole podcast here is that debt is good, good. Debt is good, high quality debt is good. Debt is great. Yeah, yeah. There you go. Especially now what's going on with appreciation, things like that, and being able to borrow at under that 4%. Mark? Because once you with the increased inflation going on right now, it's just it's crazy. So great advice on how to find some cash out there. So this debt, obviously, you said proof of concept and not only proved to you, it probably proved people around you what you've been preaching for the last year is that like this is going to pay off big. Net? How did that change your life? Going forward? It sounds like you want to teach other people how to do it for one thing?

Sam Primm: 17:09

Yeah, you're right, it kind of happened around the same time I started this, you know, this faster freedom thing and all these social media trying to teach other people the power of properly utilizing debt, because obviously, if you go into debt, you know, buying bad debt or the wrong way or over leveraging, you can get in a lot of trouble. But if you go about it the right way, don't over leverage yourself, you know, have appropriate amount of equity in there that the sky's you know, pretty much the limit, there's really nothing you can't do, you can have, if banks are willing to do it, and you have a track record, you have 1000 loans with you know, you know, you don't there's not like a limit of how many loans or how many LLCs, you can start you can do as many as you want. That's how all these people become millionaires and multimillionaires and billionaires is through owning real estate, you know, so, yeah, it just kind of proved that, over the prior, you know, four or five years, I was buying a bunch of assets with other people's money, you know, I was really you know, rehabbing them, right, and then refinancing them and, you know, paying back the initial lender, and then I had a bunch of bank debt, mortgages on all my rental properties that the tenants were paying, the properties looked like, they were going up in value. I know, I was paying the note down, just, it kind of all made a ton of sense on paper. But you know, it didn't actually prove it, it all looked good. But then once we actually got all the property's appraised, the bank said, yeah, we'll do what we said we were going to do, we'll give you you know, 75% loan, and you know, a loan to value and then anything below that, you know, compared to what you used to owe, you can take as tax free money, you know, it just kind of, you know, I always thought, you know, well, they're not gonna actually write me a check for 880,000, they're gonna say, oh, we'll only do 500 Or no, you know, I just, it was just kind of all up in the air. But then once they wrote the check, moved on the act like it was no big deal and moved on. Alright, bring us your next property. And let's keep rolling. It was just like, wow, that all this debt, all this money, all this equity, that we created, all this cash flow, we created all these properties we have that are in great condition. And that have gone up 15% Since then, is you know, it all works. And it really does work. And we're actually doing another refinance right now, actually, because the property is going up so much in value, we're going to, we're going to pull out about 500,000 This time, because I mean, when I did this refinance, I had about an $8 million on a portfolio now I've added worth about 16 million in the past year, we're going to pull out about 500. And we're just going to pay off five rentals and have five paid off rentals to have that, you know, ability to line of credits or just to have that to leverage do bigger things with

Joseph Williams: 19:26

Yeah, and it sounds funny, but it's probably easier paying one big mortgage check versus 206 or whatever it was,

Sam Primm: 19:33

yeah, no, no, it's it's, you know, it's a big chunk of money every month, but guess what, we do things the right way. We collect way more in rent than our mortgage and all owning expenses, but definitely the mortgage, where it's, you know, it's even, even through COVID we collected 99% of rent, because we have nice houses, you know, we take care of our tenants, so it just kind of all proved itself. We pulled out, you know, close to a million dollars of tax free money when COVID hit and then throughout COVID We did the right thing and we're still collecting At night percent of rent, so we have no, you know, no trouble playing any of our debt to our lenders or, you know, any other owning expenses, you know, because you do things the right way and you don't over leverage yourself. You know, like I said earlier, the sky is pretty much the limit.

Joseph Williams: 20:13

Yeah, don't don't believe everybody horror stories about being a being a landlord or managing properties. It's, it is what it is you're dealing with people, that's 99% of it. And if if you treat them right most and do all of your, you know, pre application must do like background checks, things like that, that most of the time, you're, you're, you're pretty good. I've through all of COVID I had one person pay me late, she paid me two weeks late. But we were you know, I was like, I couldn't believe it. Because, you know, I was even kind of kind of feeding into some of the stuff coming down the pipeline a year ago. Like, oh, gosh, what's going to happen? But yeah, so don't be afraid to kind of jump in with both feet when it when it comes to them. So I know, I'm going to ask them that know, a lot of people are thinking, How did you find so many houses to acquire in that amount of time? Do you say you flipped 200 houses a year?

Sam Primm: 21:14

Yeah. So yeah. So you know, a few different companies that are flipping company, which is, you know, buying and selling, not holding long term. We did 204 houses last year. So a majority of them are wholesale, but we've probably rehabbed 60 to 70 of them. So we did quite a few rehabs as well, as you know, just wholesaling, which is buying, you know, getting property under contract, and then either selling it after closing or before closing without, you know, repairing it, you're just, you know, you're just taking a house at a discount and selling it to an investor at a discount and making the spread. But yeah, well, so we do a lot of different things, we probably buy 60% of our deals from other wholesalers or real estate agents, zero $0 in marketing spend, anybody on here can do it. Go to those local meetups, there's, like you said earlier, there's private money lenders there. So if you go to local meetup with 100 people, there's probably three or four private lenders, like you said, but there's probably about 60 wholesalers there that's kind of a wholesaler hanging out. Yeah. At our meetup, we have 150 to 200 people there every single month. And there's probably five or six houses a month to get bought and sold there, wholesalers and landlords meet together and I got this deal, I got that. And we actually bring them up at the beginning of the thing for 10 minutes, people just bring up their properties, or what they're looking for are called haves and wants and houses get bought and sold there. So there's so many different options, the biggest and best thing that I would suggest for newer investors would be, don't spend any money on direct mail, don't you know, spend $1,000 sending out direct mail one month, because you got to do it for six months in a row to start to actually get decent lead flow in that six grand. So I would just say, leverage your time. And you know, talk to wholesalers talk to real estate agents talk to other investors and you know, go to those local meetups and you will, you will be surprised how many deals you can find if you're looking to buy five houses in the next six to 12 months, and it's your very first six to 12 months, you can 100% do that with relationships and not spending money in marketing.

Joseph Williams: 23:01

Yes, and another one I'll throw out there, that's phrase Facebook, get active and Facebook groups in your area. I mean, it might be whatever, you know, Cincinnati wholesale group or you know, Richmond wholesaling live, just random groups, just search your area, find the investment groups, you would not believe how many deals pop up in there, a lot of them are garbage, but you can sift through there, find the good stuff, and just be quick on the trigger. also partnering with newer wholesalers, a lot of times, the newer guys don't know what they're doing with regards to the whole process. So if you've got a little bit experience, and you've bought other houses from wholesalers and seen the whole process, you can help walk them through it, even pair them up with your attorney who you know is going to do the process 100% Correct. But when they get a deal, they'll call you straight up it because they know you're gonna close on it once you do one. And I've had that happen a bunch where I'll just ask it was like, Is this your first wholesale deal? And they're like, Yeah, I was like, Okay, no problem, you know, no big deal. And then the next one just got a phone call. It doesn't even hit the open market. It's like, Hey, I got this house. You want it? Yeah, I'll take it for the same price. Here's your 10 grand. Yeah, that's my

Sam Primm: 24:12

relationship business. It really is. I can't think of many other industries that are more relationship driven. I know all of them are, but I can't think of one that would be more relationship driven than real estate.

Joseph Williams: 24:22

Yeah. And I was literally I was talking to a realtor today. She's like, well, it's probably pretty hard finding finding deals right now, isn't it? I can't find any. And I'm just like, Yeah, I mean, I don't buy anything. Really. It's on the market. Everything's off market. Yeah. And so a lot of our other guests, you know, say the same thing. It's about shaking hands. kissing babies, I guess. Yeah, great. So um, so it sounds like you're rocking and rolling. I mean, that's a great story. And if anybody wants to learn more, with regards to exactly what Sam is doing with his OPM other people's Money refinancing burst off strategy go follow him for sure at Sam faster freedom on Instagram Tik Tok YouTube, there's gonna be plenty of information on how to get more involved with his, with his education and his videos. What is your kind of long term goal here? You know right now your young fit handsome. But what do you want to do? What do you want to do? Yeah, I didn't hear that parking say that last part. Yeah, there you go. Mike went out on my corner. Yeah,

Sam Primm: 25:30

no, yes. So right now it's kind of, we set goals quarterly, and yearly. And I have a three year and five year business plans for all of our businesses, I have a few of them now. The main goal right now is just growth. Like you said, younger, I appreciate all that other nice compliments. But yes, I'm 33 own about $16 million. In real estate. We got a 29 unit apartment complex under contract now. So by the end of the year, it'll probably be more like 22 or $23 million worth of real estate. My goal is to own $100 million in real estate by the time of 40. So I got seven years to get about another 75 to 80 million. So that's my goal is to do that right now for the rental company are obviously after the rental company. And then you know, this education company is just to grow like a brand, like kind of bigger pockets almost type brand out there. So right now the goal is honestly just growth, I don't have some, you know, big, you know, goal in 50 years to be somewhere when I'm 50. To be somewhere that goal is just kind of growth and kind of that 100 million dollar mark for my rental portfolio right now.

Joseph Williams: 26:32

Yeah, have fun while you're doing it, right and turn and turn around and hand it to your kids and say you're well, you're, you're welcome.

Sam Primm: 26:39

You're right, backwards, from what it says, you know, generational wealth is created here. That's kind of the purpose of all of this. I've actually boiled it down to one word recently Joseph in it just impact trying to make an impact on my current family, my, you know, my, my circle of friends, my, you know, whether it be people online, and then just generational, you know, make an impact, I don't want to, you know, it just makes me cringe to think about when I was, you know, 25 I thought I was going to work at some work for somebody else until I was 65. A few million dollars in the 401k, live a decent retirement, retire and hand my kids, you know, 500 grand that looking back, that's just so you know, and if that's your goal, that's fine. But for me, that wasn't enough, I wanted to create an impact I wanted to impact. You know, I my immediate family, I want to pay for my great, great, great, great grandkids college kind of impact, I wanted to create an impact on my family and the world. The best way to do that is to create financial freedom, the best way to create financial freedom is real estate. So it just all kind of works to together.

Joseph Williams: 27:36

Yes, and my one word, I guess impact is a good outward facing word. I guess my selfish interfacing word is freedom, right? So I can do what I want and, and you take it down next level, I looked at my wife one day, and I said, I want our girls right now to be able to say I want to be an artist, or whatever it is, and what is actually your dream, and be able to chase that dream for a while and not have to worry about Oh, I gotta graduate high school, I gotta go to college and get my you know, salary job. And, you know, my six figure salary isn't that I want to give them the freedom to be able to chase a dream, and not have to worry but so much about, you know, what's around the corner, you know, and all that about financial freedom in all reality, and not having to work for the man and I know you agree with me, and this is a whole nother rabbit hole that we probably set up another podcast for is about education around finance within the school systems today. And, and really no one being told anything about how all this everything we're talking about today about how it works. Because even this is like surface level compared to you know, what the what the big guys do out there. So we've kind of touched base a little bit about Sam's Instagram page, what like what books and podcasts or influences Have you Have you followed starting out or even now that you find you know, very beneficial to kind of your education and most importantly probably your mindset.

Sam Primm: 29:07

Yeah, that you I think that last part you kind of really hit it so I kind of get my mindset, you know, my positivity, the vision, you know, my business and entrepreneurship, you know, feed that through books, you know, obviously Rich Dad Poor Dad, everybody read thinking Grow Rich, Good to Great by Jim Collins, Pitch Anything Eat That Frog just to kind of books about mindset in going out and taking action, even though he's crazy. 10x love that book. Two grants are crazy. Yeah. So that's kind of where I get my mindset and business, you know, for better lack of better acumen from and then as far as like my active content and like learning about like the new techniques and real estate or new things that people are doing. That's from podcasts and YouTube channels, you know, like podcasts just like this and the stuff I got going on as well. And then other influences obviously bigger pockets been been a big one and then I'm actually in a mess mastermind with the one we talked about earlier, Frank's car was in it. And then like I'm ramping Ada, and then calling him I'm real good buddies with all those guys and just dealing with other people that are going through the same thing you're going through at the level that you're going through it is I mean, invaluable. So that's kind of just just trying to see what else is out there. And just even there's a channels out there that have, you know, 150 YouTube subscribers that have stumbled across a video and learned a ton. So it doesn't really matter, quite their influence. There's just so much information out there. It's not even funny that you just got to go out and search and find there's no reason I, you know, don't really feel too sorry for too many people, because there's no reason that people can't be successful technology that's, that's on your fingertips on these phones, like there's no reason someone can't be successful no matter how much money they have, or what their background is, if they really want it hard enough. So

Joseph Williams: 30:46

yeah, I agree with you. 100%. Hustle is underrated. Even when you're established, right, but it gets easier, the more relationships you have. But when you first start out and getting that first deal, first five deals, it's about hustle learning education, getting very confident in yourself is something that Frank talks about a lot, not these years, we're gonna have so much but be confident in what you're doing is huge. So learning and becoming confident and growing. And it sounds like you've done that at a extreme pace compared to some leveling up to some of these guys that have been doing it for quite some time. Some of them have gross difficultly on social media, other ones kind of under the radar, but they're just crushing the game in their market, and you've leveled up quite quickly, you know, to be in the same room as them. And that's some more advice. You know, if you are the smartest one in the room, then you need to change rooms, right? It doesn't mean you can't go back and hang out with those guys. But you need to find the guys that you're the dumbest one or the least experienced in the room. Because that's where you're going to really get your your biggest leap in personal growth and business growth is being surrounded by people that you have to strive to keep up with. Would you agree?

Sam Primm: 32:04

100%? Yeah, I've never had that problem. I'm never the smartest guy in the room. But no, you're right. I mean, why wouldn't you want to be around? This goes for, you know, just your circle of friends, your circle of business groups, your your, if you're in somebody's coaching group or mentor group, whatever it is, why wouldn't you want to be around a group of people that have already been through or going through what you're going through, so you can get a more efficient and effective path to where you want to go rather, so you don't make the same mistakes that they did when they could just tell you, Hey, don't do that. And then you don't do it, and you have a more efficient path and probably save 10s of 1000s of dollars. So just by your circle year round, you're the most corny thing you can say, but it's true, Your network is equal to your net worth, it just kind of is what it is.

Joseph Williams: 32:44

Yeah, for sure. And, and don't be afraid to pay for education, right, everybody's very quick to go out and drop 100k on art degree or just a generic business degree. I mean, heck, I did it, right, I went 100k. But But, but you know, spending some money for a, just a little course, to get you started as you grow spending a little bit more money on like a mentorship. Because like Sam said, they're going to prevent you from wasting a lot of money. Like he said a little while ago, there's a lot of services out there that will lead you to believe like, you should come and spend $5,000 with us, and just send out a bunch of direct mail. But there's a lot of stuff you need to have in place to you know, one money record straight up. But then your follow up knowing how to, you know, follow up with those and, and manage all that, you know, those calls coming in all that and for to be your first deal, it's probably way more important to for you to hustle to find that first deal than to spend a bunch of cash later on that might become a big pipeline for you. But just day one doing it is probably not the best advice. So having a mentor to kind of lead you in that direction would have saved you$5,000 on just trying to find your first deal,

Sam Primm: 34:00

right? Yeah, so I 100% agree, I think that just round that out is every single successful real estate investor I know. And now you included has two things in common, every single one that they're I don't know, one successful real estate investor doesn't have these two things. First, they all wish they started earlier. And number two is they all pay for some type of mentorship or coaching or mastermind or something, every single one of them, you know, at least pays a little bit of their time or usually money to level up and be around other successful people. Every single one I can't think of one that's you know, at least super successful that doesn't have those two qualities.

Joseph Williams: 34:37

Yeah, and a lot of them as well. Big guys that are kind of the bigger guys in the country. Now they're they're like we've talked about they're moving into mindset coaching, like how do I get even bigger? How, you know, how do I become a better person? You know, it might even be something different, like, how do I get in better shape? There's nothing wrong with hiring Coach Hill, Michael Jordan had a coach Right? Or Yep, so And he's out there too. He just happened. He just had a bigger pockets podcast, maybe this week. So well perfect Sam, if you just want to real quick just remind everybody what your Instagram and Tiktok and YouTube is. And if you want to talk about a bachelor freedom, please feel free.

Sam Primm: 35:16

Awesome. Yeah, no. So my goal with faster freedom and my social media is is just to give as much free advice as I can and help as many people for free as I can. And then just, you know, the fact that there's so many people being affected, you know, a small percentage of them wants more so then I you know, have a mentorship and a mastermind as well that I never sell and I'm not going to sell right now. But the biggest thing I'd ask that your audience to do is obviously keep following all your stuff. But just check me out on tick tock YouTube Instagram, all under the name Sam faster freedom, I am actually coming off the podcast I don't know when this will air but probably sometime mid to late summer. So be on lookout for that. And just take all the free information advice I give and take it to heart and just know that I'm trying to help you and um, you know, talking about past experiences. And then if you want more, you know, obviously feel free to contact me on Instagram I can tell you about my mentorship and my master coaching and all that but the main thing is just enjoy the free stuff and go with it and try to do as much as you can. And if you need extra help, you know, me and my team be there to help you.

Joseph Williams: 36:12

Yeah, perfect. And I think that sounded very genuine. And Sam is going to one teach you how to leverage other people's money and that's what we're going to call this episode of The your biggest deal show is OPM baby OPM. So Sam, thanks so much for taking your time with us today. And until we meet again,

Sam Primm: 36:35

appreciate it. Thanks, Joseph.

Joseph Williams: 36:37

Thank you for listening to another amazing episode of your biggest deal. Please like, subscribe and share with friends. And don't forget to tag your biggest deal on Facebook and Instagram to connect with Joseph Williams or for questions and feedback visit your biggest deal.com Thank you for listening and learning now it's time to take action