Today we will be reviewing a program known as Faster Freedom. Is it legit? Find out in this Faster Freedom review.
Achieving financial independence and creating generational wealth are two of the program’s advertised goals.
Their tried-and-true “BRRRS” method is taught throughout the curriculum. Because of this, they say that you can enter the real estate market risk-free and earn a profit.
Will this mentoring program enable you to become financially independent with no outlay of personal funds on your part? How effective is BRRRS as a strategy for them?
Find out if this course is right for you by reading on.
Before you decide to join this program, you should read this Faster Freedom review first. You should check if it is worth the time and money before you decide to commit to it.
DISCLAIMER: This is a fully independent review. I’m not affiliated with Faster Freedom in any shape or form whatsoever.
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Faster Freedom Review: Quick Details
- Name: Faster Freedom
- Founder: Sam Primm
- Website: https://www.fasterfreedom.com/
- Socials: Instagram
- Type: Training program
- Niche: Real estate investing
- Recommendation: I would not recommend real estate business right now.
Who is Sam Primm?
A real estate investor and instructor, Sam Primm amassed a $26 million portfolio without risking a dime of his own.
Sam graduated from Missouri State University in 2011 with a Master of Business Administration (MBA) in General Marketing. In the years between 2007 and 2011, he co-founded the residential renovation firm Budget Painting.
For the next seven years, he served Fabick CAT, a dealer and distributor of Caterpillar construction equipment, in a variety of managerial capacities. During this period, he began making occasional investments in real estate.
Sam decided to devote his entire time to real estate investing and, in 2018, he co-founded a company called Faster House. Each year, this business wholesales and resells more than two hundred fifty homes.
He also owns Greater STL Rentals, a firm that oversees the upkeep of more than 300 homes for rent in the St. Louis region. He has founded Midwest Property Group, which handles the administration of multi-family buildings and storage facilities.
Sam owns nearly $40 million in real estate holdings across 140+ single-family rentals, 6+ apartment complexes, and 3+ self-storage facilities controlled by his firms.
In the later half of 2019, he established the Faster Freedom mentoring program. Sam Primm has amassed 3.4 million views, 1.7 million followers, and 9 million likes on TikTok for his real estate investing videos.
He regularly adds new content to his YouTube account, which now has over 500 videos and 78,100 followers. He also has a podcast and frequently appears as a guest on real estate podcasts and radio shows in addition to broadcasting live on YouTube every week.
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Faster Freedom Mentorship Overview
The program is similar to Awesome REI, Investor Mel and Dave, and Joe Homebuyer.
Faster Freedom Mentorship
To apply for the mentoring, you just schedule a call, like you would for any premium course.
During this call, they will ask you certain questions and make the mentoring offer. The cost of the mentoring is $7,500, and there are payment plans available.
- Everything that you get when you subscribe to CoRP Online.
- An intensive 6-week activity plan that spans 30 days.
- 5 weekly 60-90 minute live group community coaching calls.
- Access to the exclusive Facebook group.
- Use of the program and access to the network of partners.
- FasterFreedom Capital, the firm’s in-house hard money lender, which provides access to preferred customer pricing.
CoRP Online
This bundle may be purchased for a one-time price of $1,997, or in three installments of $797. You can learn Sam’s strategy for making money on property flips with no initial investment by purchasing this home study course.
It includes the following:
- An ever-expanding library of over 250 short instructional films totaling over 100 hours.
- Use of various business aids such as calculators, analyzers, checklists, presentations, marketing materials, etc.
- A special strategy curated just for you.
- Access to program and any associated partners.
Can You Make Money with Faster Freedom?
The key benefit of the program is that it teaches you how to become financially independent through real estate investment without risking any of your own money.
The BRRRS method can help you do this. It stands for Buy, Rehab, Rent, Refinance, and Scale.
Buy
You’ll need to search for foreclosed homes to purchase at a bargain. Getting to know real estate brokers is a good first step in this direction because they are exposed to a wealth of investment opportunities.
Properties are available at deep discounts from wholesalers. Facebook groups, as well as websites, are good places to look.
In addition to using websites and social media, networking may also be a useful tool for finding properties and letting the world know about your needs.
You may make some extra cash by traveling around in search of foreclosed homes if you have the time.
There are more than 30 different methods for finding such qualities that you will learn about in the course.
You’ll need to borrow money from a private lender or hard money lender to pay for the property. One of the mentoring program’s partners is a large financial institution that can finance up to 90% of your agreements.
Rehab
The rundown home needs work to boost its value and make it suitable for renting again. Employing a contractor will increase costs but shorten the time frame to a manageable two to three months.
Holding and carrying costs, among other things, are vital to think about in the time frame. Getting at least three quotes from potential contractors is recommended.
This is to make sure you get a fair and reasonable quote.
Borrowing from a private lender or hard money lender is essential to finance the necessary renovations. There is a national lender that works with the mentorship program that will cover all of your renovation costs.
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Rent
A terrible renter has the potential to wreck everything and leave you with nothing. Finding the appropriate renter to approve is crucial.
It may be quite costly to replace tenants in a rental property. The ideal renter turnover rate is between five and six years.
Refinance
If you’ve done everything right up until here, you should have acquired a property at a discount, built equity, boosted its value through renovation, and rented it out to show that it’s a cash-generating asset.
Your rented, renovated home is now ready to be presented to a community bank or credit union. It’s not uncommon to find a tiny community bank in even the most remote of towns.
To get a cash-out refinancing of 80% on your property, you’ll approach the bank’s commercial lending division. They’ll have an outsider come in and give an estimate of the home’s worth.
You’ll receive a cashier’s check from the bank for 80% of the value determined by the appraisal. You may now pay interest to your loan providers.
Scale
Sam lays out the process of scaling in 5 easy steps:
Methods and procedures – Establishes methods and procedures for purchasing, restoring, and leasing real estate. Produces productive results and saves time.
Community and coaching – Participate actively in community activities, and seek out coaching opportunities. Participate in real estate investing groups on Facebook, attend in-person networking events, etc. Real estate agents, mortgage brokers, and insurance companies are all represented here. You can learn a lot from mentors and inspired individuals, therefore it’s worth it to invest in quality coaching.
Accountability – You and your group must take responsibility for your actions. This will facilitate an easier and quicker scaling procedure.
Lead flow – If you want to make it large, you need a higher volume of leads. You may multiply your lead generation efforts by employing many of the program’s thirty plus suggested customer discovery strategies.
Extra funding – The acquisition and restoration of the property will necessitate the use of many sources of financing. Additional refinancing applications can only be submitted to a number of smaller institutions.
Market
The program provides education and guidance on investing in any U.S. market, not just your own. Using a virtual investment blueprint, they show you how to identify and close transactions without ever setting foot on the property.
Look for the most lucrative market. These regions tend to be found in the center and south of the United States.
Final Verdict – Faster Freedom Review
It’s natural for a novice to question whether or not the year 2022 is a suitable time to invest in real estate. Since the value of real estate tends to rise over time, investing in it typically yields the best return on investment (ROI) imaginable.
Starting a business is difficult since it is a high-risk endeavor that necessitates substantial financial and time investments to achieve any level of success.
Keep in mind that running a successful real estate business requires a significant time commitment. You also have to deal with renters, management, and maintenance difficulties, as well as legal matters.
Working at a larger scale requires more effort. It may be a while before your passive income starts paying off.
So, if you are looking for a program you can start today, you are actually at the right place. The additional details for this opportunity can be found at the next section.
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