Lets get you to build a real estate empire with Sam Primm! Real Estate is amongst the best investments with robust long-term returns and is easy to start. Unlike what most people think, you do not have to accumulate huge sums of money to invest in real estate. You can leverage other people’s money, conserve the little you have, and increase your borrowing capacity.

How to build a real estate empire with Sam Primm

A lot of people think that you need to accumulate several million to invest in real estate, but you can invest even from jail as long as you have a phone. You don’t need to have a lot of money. You can leverage other people’s money and make robust returns by buying rental properties or flipping houses.

In today’s episode,  we speak to Sam Primm, the Faster freedom real estate owner and co-owner of Greater STL rentals. He shares his journey from growing up as an entrepreneur quitting his established 9-5 grind, venturing it full-time real estate, accumulating over a $25 million portfolio in real estate without investing his actual money, utilizing the buzz method to leverage people’s money, his funny moments as a landlord as well as building his brand to 1.5 million followers on TikTok in less than two years. Besides, he expounds on investing in self-storage facilities, doing your market research, and making sure you break even. If you are wondering where to start in your real estate journey, this episode is for you!

Sam’s Real Estate Journey

Most people break from the 9-5 grind because they are not making enough money and are looking for multiple income streams. However, Sam was making $250,000 per year, had a  very established career, but still decided to go on his own and venture into entrepreneurship.

Although Sam was still in real estate as a side hustle, he explains getting control of his life, financial freedom, and building generational wealth as the main drivers to venturing full-time in real estate.

“I was making great money, but I was making someone else great money.”

 Investing in real estate using leverage

 Investing in real estate is not hard as most people assume. You do not need a credit score or social security number. You can invest in real estate no matter what your situation is.

“You can invest in real estate from jail if you’re able to sneak a phone.”

Sam has accumulated over $25 million with a real estate portfolio by putting $0 of his actual money. You can buy rental properties or flip houses by basically leveraging other people’s money.

“Everybody borrows money. That’s how the world works. If you borrow money, invest in something that grows cash and produces value.

Where to start if you have $200

You wouldn’t have to spend a dime of it. In case you have your $200 ready, use the utilizing buzz method.

Leverage other people’s money and reserve your $200 to use if something goes wrong.

Setting specific goals on what you need to invest in per year

While setting your specific goals on what you need to invest in per year, evaluate the short-term cash position-what do you have now? This tells you whether you need wholesale, fix and flip, or you just go straight to buying rentals.

In addition, what are you looking into? Do you want to get out of your job? If not, then you do not have to set crazy goals. You can make a goal to buy ten rental properties in the next five years. Let’s say you have ten rentals in the next twenty years. It’s going to be $3 or $4 million of equity and will be worth more than what you got them at.

 How much time do you need to allocate if you’re in corporate to do ten rentals over five years?

If you are efficient and willing to learn from other people, connect with your local network, go to meet-ups, and get smartly involved in the community, it will take 10-15 hours a month.

“You  got to be involved with the local community no matter where you are.”

You have to find a title company, contractors, and insurance agencies that deal with real estate and investors in real estate.

Build a Real Estate Empire with Sam Primm!

Mentorship through Online Coaching

Every single investor I know has two things in common. They wish they had started earlier, and two, they all pay for some type of subscription or coaching service.

“ I spend $100,000 annually on furthering myself professionally and personally, and it’s way more than I get in return.”

Having the right mentorship just keeps you out of the gutters. It’s going to save you time, money, and headaches.

The first step to self-storage without experience

When engaging in self-storage facilities, the first step is to reach out to people in that space. Get involved with the community.

Secondly, is to work on your funding. A bank is more likely to do it since the industry is kind of recession-proof.

Finally, get out there, look for deals, and analyze them.

 How to determine whether a self-storage facility will perform

Do market research on the radius of the storage facilities around you to determine whether they will be full.

In addition, find a place that has a limited supply of storage facilities for you to break even.

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House Hack Your Way To Financial Freedom with Craig Curelop! One of the most common questions people ask is how to start investing in real estate with no money. In this episode, Craig Curelop joins us to give the perfect answer to the question: house hacking! Craig is a real estate agent and the author of The House Hacking Strategy book, in which he explained how you can become financially free through house hacking. 

Craig shares his story, from getting started with a $90k student loan debt and a negative $30k net worth, to becoming a master of house hacking. He dives deep into what you need to get started, best strategies, and available purchase options for house hacking.

House Hack Your Way To Financial Freedom with Craig Curelop

In this episode, we are joined by Craig Curelop, a real estate agent and investor based out of Denver, Colorado. Craig is also the author of The House Hacking Strategy book, which teaches the tricks that savvy investors have been using in the real estate industry to save thousands of dollars in monthly expenses as you build your financial independence.

In This Episode:

[00:49] Craig’s college life

[02:05] The house hacking idea

[07:43] How much do you need to get started?

[10:36] Why aren’t more people into house hacking?

[14:55] House hacking strategies

[19:55] The downside of sharing your space

[23:58] Property purchase options

[26:30] Airbnb rules

[28:16] Craig’s self-development journey

[31:52] Motivated by money or freedom and time?

[33:02] Money saving challenge

[37:59] Automating your work

[41:24] Best books to start your real estate or finance journey

[43:54] Craig’s daily routine

[48:00] Only fans inquiry

The House Hacking Idea

House hacking a strategy in the real estate industry where you purchase a property for a low percentage down, live in a section of it, and rent the other space out. The idea is to collect rent that exceeds your expenses from the tenants. If you do this, you have probably eliminated all your expenses and live for free!

House hacking options

Craig says there are several options depending on your preference and the type of property you have rented out:

  1. Comfort: After renting a house with a separate space like garage, you can live in the house and rent out the extra space. 
  2. Most profitable: You rent out the whole space and live in a van or a different space.
  3. Rent by the room: Live in one bedroom and rent out the other space. You can also buy many units, live in one, and rent out the rest.

Craig’s Advice to starters

Craig says you should find a single-family house and have a separate living space divided. Divide the remaining space into rooms that you could rent out. 

Airbnb rules

While sharing your space with people can be a profitable, sometimes the benefits come with the downsides, especially when these people are strangers. To avoid some issues, Airbnb formulated rules that protect you as a homeowner.

  • Even when you purchase a room for renting out, you must have the intent of living in the property for at least a year. However, there are some exceptions; if you get married, the neighborhood becomes unsafe, or you experience a life-changing event.
House Hack Your Way To Financial Freedom with Craig Curelop

“Airbnb doesn’t want you to risk your safety to meet their law requirements.”

You also have to change your mailing address to show you are living in the property, and also let your insurance know the business you’re into.

Tune in House Hack Your Way To Financial Freedom with Craig Curelop

Mentioned Resources

Books

Never Eat Alone by Keith Ferrazzi

The Compound Effect by Darren Hardy

The Four Hour Work Week by Tim Ferriss

The Book On Rental Property Investing by Brandon Turner

The Simple Path To Wealth by J.L Collins

Connect With Craig Curelop

LinkedIn https://www.linkedin.com/in/craig-curelop-a6457242/

Instagram https://www.instagram.com/thefiguy/