The FasterFreedom Show: Change the Way You Think About Freedom

Master the Art of Scaling: 5 Proven Strategies for Business Growth | EP. 17 Sep 14, 2022

Show notes

Every business owner is looking for ways to grow their business. They look forward to that day when they can 2x, 3x, or even 10x their portfolio. But scaling is not that easy. However, you can see what other businesses have done and replicate the same process. Sam and Lucas are here today to talk about SCALE-ing.

Sam was on The BiggerPockets Podcast a few months ago, where he talked about building a multimillion-dollar real estate portfolio, and he will be sharing the same process today. While Sam and Lucas focus mainly on real estate, the things they discuss today can also apply to other industries. So listen up as they share the five major things you need to SCALE. This is the most impactful up-to-date information about scaling, so make sure you don't miss it!

“The whole goal of scaling is to become efficient, so you can do it quicker, so you can do more of it.” - Sam Primm

“I personally never want to have money be the reason I can't take out a deal.” - Lucas Walls

In this Episode:

-Systems - What systems do you need, and how do you build them?

-Coaching - Discover the power of leaning on other people to sharpen your skills and accelerate your success

-Action - This is the step where most people get stuck. How do you get unstuck?

-Lead Flow - In real estate, it's usually a numbers game. How many leads do you need to have at any given time?

-Extra Funding - What is your threshold, and where do you get additional capital to fund your deals?

And more!

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Unlocking Real Estate Wealth: The First Step to Building Your Business | EP. 16 Sep 12, 2022

Show notes

Real estate is one of the most profitable industries in the world because everyone needs a place to live. So investing in real estate is a great way to build wealth. But how do you start building your real estate business? In this episode, Sam and Lucas discuss the first and most important step. Then they share their favorite free lead sources. Once you understand how to use these lead sources, you'll be on your way to finding profitable properties. So don't miss out on this value-packed episode.

“The best way to start out investing in real estate, especially if you don't use your own money, is to find a distressed property.” - Sam Primm

“If you don't find a quality house for a good enough deal, none of the rest matters.” - Lucas Walls

In this Episode:

-Free vs. Paid lead sources–why pay when you can get leads for free?

-3 Simple ways to find FREE leads

-A few inexpensive ways to find leads

-Behind-the-scenes on the latest Deal of the Week

And more!

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Unlocking the Millionaire Mindset: Why You Need Multiple Income Streams | EP. 15 Sep 07, 2022

Show notes

Did you know that most millionaires have three or more income streams? If you have been relying solely on your day job to earn money, have you thought about what will happen if that job goes away? In today's episode, Sam and Lucas discuss why you must strive to create multiple income streams. Of course, you can start with just one, but don't end there. You'll be surprised at how many they have.

Having multiple income streams gives you security and allows you to diversify and take risks. It also gives you the ability to help other people. Now, who wouldn't want to do those things? So tune in to this episode to get ideas on the different income streams you can try.

“Just having multiple streams of income is extremely powerful.” - Sam Primm

“The majority of our streams of income are within real estate, and there are so many ways to diversify with real estate. That's why I think it's super cool.” - Lucas Walls

In this Episode:

-The benefits of having multiple streams, one of which is the ability to take risks

-Sam and Lucas have built numerous income streams over the years, and they share what some of those are

-How to manage multiple income streams, so you have time to do what matters most

-The best way to respond to people who hate your success and find fault in what you're doing

-Treating people with love and respect–the same way Sam and Lucas treat their tenants and other people they encounter–brings enormous good.

-Don't just keep the money for yourself. Since they started, Sam and Lucas have raised over $250k for their nonprofit. Follow Greater Giving STL on IG to find out how you can help.

-Behind-the-scenes on the latest Deal of the Week

And more!

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From Ordinary to Extraordinary: Where it All Began | EP. 14 Sep 05, 2022

Show notes

How do ordinary guys get started on making extraordinary wealth? In this episode, Sam and Lucas share their property bromance origin story and take a trip down memory lane that involves a wife that puts her foot down and weekend drives to hunt down distressed properties.

They’re here to entertain and educate as they learn to follow the BRRRRs strategy (Buy, Rehab, Rent, Refinance, Repeat) and pay back their first private lender in lickety-split time so that he goes in on their next deal with them too. And just like that, they’re up and running like ballers. You could be too if you give this episode a listen!

“Not every flip will make a good rental.” - Sam Primm

In this Episode:

- The benefits of starting an LLC (Limited Liability Company)

- Stay hungry: view 5 properties per week

- Buy it, rehab it, sell it – and use the profit as a down payment for your next property

- Make sure that every property you own is cash flow positive

- The value of equity (all property value increases over a ten-year period)

- How Sam and Lucas made $17K tax-free in 6 years, with $75K still in equity

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Wholesaling 101: How to Get into Real Estate TODAY | EP. 13 Sep 01, 2022

Show notes

Do you have the contacts to connect a willing buyer and a willing seller – but not the capital to fix up a property? Is wholesaling something you thought you just did at the store? Are you ready for Sam and Lucas to enlighten you on a game-changing way to get into the real estate market with a network and no cash?

Welcome to the wonderful world of wholesaling, where you contract a property with a seller and then find an interested buyer. Ordinary Guys with Extraordinary Wealth share their know-how and early success stories on wholesale deals, proving that anyone with an appetite and a Facebook account can make a wholesale deal. Let’s go Driving For Dollars as we hunt down distressed properties and discover what’s out there…

“Nothing is more American than football and wholesaling”. ~ Lucas Walls

In this Episode:

- How to wholesale without funding the deal

- Wholesaling law in different states

- Assessing the risk of the buyer not arriving on sale day

- How to focus on finding the right property

- What to do if you don’t have an end buyer waiting in the wings

- What to look out for when driving around looking for distressed properties

- Sam’s first wholesale deal (how he made $20K in 20 minutes)

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Power of a Private Lender: Insider Tips for Real Estate Success | EP. 12 Aug 29, 2022

Show notes

Are you looking to make moves in the real estate market but have found it hard getting money from a bank? If so, private lenders are the solution for you. And chances are they’re already someone in your social circles. In this episode, Sam and Lucas break down what a private lender is, how to start talking real estate with people and turn them into private lenders – plus a whole bunch of industry tips that they’ve acquired over the years that have helped them make bank with OPM (Other People’s Money). The pros definitely outweigh the cons as these two pros show us how it’s done the smart way.

“Private lenders are individuals (or husband and wife types), usually in your circle, who are looking to diversify some of their investments and get a solid, safe return on real estate. And/or individuals who are interested in investing in real estate but don’t want to go through all the hard work, and just want a piece of it.” ~ Lucas Walls

In this Episode:

- What is a private lender? (Not a rich uncle)

- How to find a private lender

- How to pitch to a potential lender (have fun with the client AND take it seriously)

- Outlining the amount they can expect as a return on their investment

- The Pros and Cons of private lending versus going to a bank

- Plus: Deal of the Week and Rant of the Week (how hard it is to buy Air Jordans)

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Maximizing Your Real Estate Investment: Single-Family vs. Multi-Family | EP. 11 Aug 24, 2022

Show notes

Which is better to own and manage: single-family homes or multi-family residential properties? In this entertaining episode, Sam and Lucas go toe-to-toe as they duke it out over the pros and cons of both, sharing knowledge and demystifying the real estate market as they do. They emphasize the importance of starting somewhere, and share the wisdom behind getting comfortable with the ownership and management process before attempting to scale up. They also look at how the rental market was affected by the pandemic, and they discuss why tenant turnover is expensive. It’s all here. The ‘feel estate’ market (Lucas’s new catchphrase) has never sounded so fun!

“I like multi-families because they are based on how much income we bring in. And we control the income by raising rent and being efficient with our expenses.” ~ Sam Primm

In this Episode:

- The main reason people don’t get started in real estate

- Catching a hot market with a single-family property

- The value of a dedicated maintenance team

- The low barrier for entry with single-family

- Finding tired landlords and other tips for getting a foot in the door

- How to scale a multi-family

- Go out and do it! Getting started with your property portfolio

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Debt: The Good, The Bad, and The Wealthy | EP. 10 Aug 17, 2022

Show notes

What is the difference between good debt and bad debt? Good debt can increase your net worth, whereas bad debt involves borrowing money to purchase rapidly depreciating assets. So what would buying a house qualify as? Join Sam and Lucas as they explore the differences, pros, and cons, of good debt versus bad debt – showing you how to use debt and leverage to acquire assets in a fun, engaging way.

Borrowing money is the way to go, and these two ordinary guys will reveal their extraordinary secrets for creating wealth through equity by getting into ‘good’ debt. The debt is good, the vibes are good, the couches are new, and the bromance is strong as solid financial advice flows between these two astute business partners.

We’re giving away 2, all-inclusive sets of tickets for a full day and night with us worth $10-20,000! Get the chance to fly from anywhere in the country to our office in St. Louis and spend the entire day with us, plus a little dinner on the side, before we fly you back the next day. Enter to win here.

“Becoming financially literate is a super important part of living a stress-free life and setting your family up for years to come.” ~ Lucas Walls

In this Episode:

- Why people who have good relationships with banks are the most financially well off

- Examples of good versus bad debt – and how to tell the difference

- How to control an asset with only a 20% down payment

- Evaluating your credit card debt: earning points while not letting the interest owed accrue

- Borrow money to buy something that produces cash and goes up in value

- When ‘the juice is worth the squeeze’ – taking a risk outside of your ‘buy box’

- Sam rants about Dave Ramsey’s fanbase (be warned!)

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Accelerate Your Wealth-Building Journey with This Proven OPM Strategy | EP. 9 Aug 17, 2022

Show notes

If you want to accelerate your wealth-building journey, get into debt. That’s as straightforward and as factual as it gets. If we waited till we saved enough capital before flipping our first rental unit, we wouldn’t be $40 million richer in assets owned in the span of 5 years. This is what we’re rallying here in this podcast, the road to faster freedom. The OPM strategy we’re going to talk about today is not one of your get-rich-quick schemes. It’s a proven and tested strategy to build generational wealth, without putting out any of your own money!

“A debt-free journey is not a way to create wealth, it's just a way to be debt-free. The only way you can do it unless you came from money, is to get into debt.” -Sam Primm

In this Episode:

- Understand the context of OPM and why it’s FTW in wealth-building

- Here are the reasons why you need other people’s money

- Explore our favorite sources of OPM and where to find them

- Being debt-free doesn’t make you rich, but, it can give you this…

- We’re ranting about tiny houses this week. Here’s why…

Resources Mentioned:

- Dave Ramsey

- Grant Cardone

- Freedom Capital

Connect with Sam and Lucas: