Today we will be reviewing a guy named Sam Primm. Is he legit? Find out in this Sam Primm review.
The program asserts that its methodology can assist you in enjoying a comfortable retirement while also leaving a financial legacy for subsequent generations. The course will instruct you on how to properly use their “BRRRS” technique, which has a proven track record.
This is a fantastic method for getting started in the real estate market without having to risk any of your own money in the process.
Does this mentoring program guarantee to assist you in achieving financial independence at no additional cost to you personally? To what degree does their BRRRS plan actually succeed?
Continue reading to find out if this program is for you, or if this is all just a waste of time.
Rent collection is one method by which investments in real estate can produce passive income.
This course of action may be one that should be investigated because it does not require a considerable amount of financing up front or loans from the bank, but it has the potential to produce at least as much return with a significant reduction in the amount of maintenance required.
Before you decide to sign up for this program, you should read this Sam Primm review first.
DISCLAIMER: This is a fully independent review. I’m not affiliated with Sam Primm in any shape or form whatsoever.
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Sam Primm Review: Quick Details
- Name: Sam Primm
- Website: https://fasterfreedom.com/
- Socials: Instagram
- Type: Training program
- Niche: Real estate investing
- Recommended?: I do not recommend real estate investing as it comes with a lot of risk, and it requires a large amount of money as capital upfront. I prefer to recommend other methods, in order to make passive income instead. These methods are less stressful, after all.
Who is Sam Primm?
Sam Primm is a successful real estate investor as well as a coach. He has established a portfolio worth $26 million without putting any of his own money at risk. Sam earned his Master of Business Administration (MBA) in General Marketing from Missouri State University in 2011.
He graduated with the degree in 2011. Between the years of 2007 and 2011, he successfully ran the painting business known as Budget Painting. The company’s primary area of expertise is in the refurbishment of residential properties through the application of interior and exterior paint.
Following that, he worked for Fabick CAT, a dealer and distributor of construction equipment manufactured by Caterpillar, in a variety of managerial capacities over the next seven years. During this time, he started getting his feet wet in the world of real estate investing as a hobby.
Sam and real estate investing
Since the second half of 2018, Sam has devoted his life totally to real estate investing. In addition, he has been instrumental in the creation of Faster House. More than 250 residences are resold by this company each year through the wholesale and retail markets on a consistent basis.
Greater STL Rentals, a company that maintains more than 300 properties that are available for rent in the St. Louis area, is another one of his businesses that he owns.
As an entrepreneur, he also established Midwest Property Group, which is in the business of providing management services for storage facilities and multi-family apartment complexes.
Sam’s companies are the proud owners of almost $40 million worth of real estate properties, including more than 140 single-family rentals, more than 6 apartment complexes, and more than 3 self-storage facilities.
The Faster Freedom mentoring program was one of the first things he launched in 2019. Sam Primm is a well-known figure on TikTok in the real estate industry due to the success of his real estate investing videos on the platform, which have gathered a total of millions of views, followers, and likes.
He updates his channel, which now has over 500 videos and 78,100 subscribers, on a daily basis with fresh material that he has uploaded.
In addition to broadcasting live on YouTube once a week, he also runs a podcast, makes frequent appearances as a guest on other real estate-related podcasts and radio shows, and has his own show.
Faster Freedom Mentorship Overview
TikTok, a platform for sharing videos online, is where the vast majority of Sam’s students come from. This is the first step in his sales funnel, and it directs users to his YouTube channel. On his channel, he posts helpful videos.
Those people in particular who are encouraged to enroll in this course are individuals who have never made an investment in real estate before and have no knowledge whatsoever regarding the process, as well existing real estate investors who are looking for new ways to enhance their portfolios or seasoned guides can benefit from this.
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You have the option of purchasing this package all at once for the price of $1,997, or you may divide the price of the bundle into three installments of $797 each.
This course is a self-study guidebook that describes Sam’s approach for making money off of house flips with no upfront commitment. You’ll find the following items included in the set:
- A growing collection of more than 250 shorter educational movies with a combined running time of more than 100 hours.
- Possession of all essential firm assets and resources (calculators, analyzers, checklists, presentations, marketing material, etc.).
- A unique tactic with your name on it has been conceived and developed by the group.
- Software and access to cooperation opportunities.
Faster Freedom Mentorship
It is necessary to schedule a call in order to complete the application procedure for the mentorship program, just like it does with the applications for other “premium” courses.
They will make an offer to mentor you during this call and will ask you questions to understand more about you and your background. The cost of the mentoring program is $7,500, and there are payment options that can be arranged if necessary.
The following are elements that are included in the mentorship program:
- Everything in CoRP Online in its entirety.
- A focused action plan for the next 30 days, or one for the next 6 weeks that involves consistent effort leading to results.
- Taking part in 5weekly live group community coaching calls lasting between 60 and 90 minutes each.
- Membership in the Facebook group that requires a password to access.
- Access to software as well as partnerships.
- Access to FasterFreedom Capital, the company’s in-house private hard money lender, providing members with preferential pricing on loans.
Making Money with Faster Freedom
One of the most appealing aspects of the program is that it will show you how to get financial independence through the process of investing in real estate without requiring you to put any of your own money at risk.
It is possible to achieve this objective through the application of the BRRRS strategy. The process of Buy, Rehab, Rent, Refinance, and Scale is referred to by its acronym, BRRRS.
Each of these five steps must be completed before the business may be expanded.
You will need to search for foreclosed or abandoned homes that may be purchased at a discount in order to achieve your goal of saving money.
Having a working relationship with a real estate agent, who is exposed to a large number of potential homes due to the nature of their job, can be a very useful resource for locating such properties.
In addition, there are wholesalers who provide real estate for sale at a reduced price. You may look for them on websites such as meetup.com or eventbrite.com, or you could search for them on groups on Facebook.
Establishing relationships with other individuals is a fantastic way to locate homes, communicate your requirements on social media, and obtain the outcomes you seek.
Drive-by inspections of foreclosed homes are a great way to make some extra money quickly if you have some spare time on your hands and are searching for a way to make use of it. Bandit signs can also be presented in the same manner. The course will cover more than thirty distinct approaches that can be used to locate properties of this kind.
To be able to pay for the acquisition of the property, you will need to take out a loan from either a private lender or a hard money lender.
Because of the mentorship program’s relationship with a national lender, you may receive funding for as much as 90 percent of your commitments.
The state of the run-down house must be improved to the point that it can be rented out, which is one of the top priorities. The hiring of a contractor will result in an increase in prices but will reduce the amount of time required to a more manageable two to three months.
Because of the significance of elements such as the holding cost and the carrying cost, time is of the essence.
It is highly recommended that if you are going to utilize contractors, you get at least three quotations from different companies. If you do so, you will ensure a price that is just and acceptable.
To be able to pay for the cost of the renovations, you will need to take out a loan from either a private lender or a hard money lender.
You will be able to acquire financing for the total cost of your renovation as a result of the partnership that the mentorship program has established with a major bank.
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A bad tenant has the ability to ruin everything and leave you with nothing if they stay there long enough. When deciding whether or not to accept a renter, it is essential to exercise caution and rigor.
However inexpensive it may be to own a rental property, maintaining it and finding new tenants on a regular basis can be time-consuming and expensive. When it comes to acceptable tenants, the rental units are often vacated every five to six years on average.
If you have done everything correctly up to this point, you will have purchased a property at a discount, generated equity, increased the property’s worth through remodeling, and rented it out to show that it is an asset that generates cash flow.
At this point, you can start the process of acquiring a loan to finance the renovation of the rental property by approaching a local community bank or credit union in your region.
In every single market, regardless of its size, there is guaranteed to be at least one reliable community bank that is run by a family.
Your strategy is to visit the business financing department of the bank and ask for a cash-out refinance that is equal to 80% of the value of the property. To arrive at an accurate assessment of the value of the property, an impartial third party will be brought in.
The remaining amount will be transferred to your account in the form of a cashier’s check from the financial institution. You are now able to make interest payments to the lenders that provided you with loans.
This one is all about scaling your business to greater heights, after you have achieved the success that was supposed to happen after those four steps.
Final Verdict – Sam Primm Review
If you’re not very experienced with the real estate market, you might be thinking whether or not 2022 is a suitable time to make an investment in real estate.
The value of real estate, in contrast to most other assets, has a tendency to increase with the passage of time and delivers the highest return on investment (ROI) of any business strategy that could possibly be conceived of.
Beginning a new venture can be challenging due to the fact that it is inherently a high-risk activity that calls for significant financial and time expenditures in order to reach any level of success.
Remember that your investment in real estate will necessitate a major time commitment on your behalf, and plan accordingly.
Your responsibilities encompass not just the tenants but also the management of the property, the maintenance, and any legal issues that may arise. Putting forth more effort is necessary while working on a greater scale.
Your passive income won’t start contributing to your bottom line for quite some time.
This is why I do not recommend going into the real estate business, or Sam Primm’s program, for that matter.
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