If you want to build generational wealth for your family, then real estate investing is the right path for you. While there are many roads to financial freedom, it’s always helpful to hear how others got their start and found success. Today’s guest, Sam Primm, has been in the real estate industry for several years as a St Louis home buyer.
Sam is also on the education team at Faster Freedom, an education hub for real estate investors. On today’s show, Sam is sharing his tips for finding deals, securing private money lenders, and building a financially free life!
On this episode you’ll learn:
- The value of establishing a relationship with a private lender.
- Two free ways to find real estate deals.
- Sam’s advice for new investors.
- And much more!
The Value of Establishing a Relationship with a Private Lender
For Sam’s first deal, he was able to attain private financing from a family friend. He borrowed just under $100k, refinanced with a bank at a lower interest rate, and paid off his private lender. Now, he essentially has a revolving line of credit with this lender, and has been able to scale his business. When you work with a private lender, you use none of your own money, the tenant pays the bill, and as long as you hold up your end of the deal there’s a chance your lender will work with you again and again!
Two Free Ways to Find Real Estate Deals
Finding deals is all about making connections. Sam has discovered two great ways to find deals in his market. The first is to establish a relationship with a real estate agent. Let them know what you’re looking for, act quickly when they present you a deal, and do your best to be easy to work with. Another great resource is wholesalers. They do the heavy lifting, and you can get a discounted property.
Sam’s Advice for New Investors
The best time to get started is now! Educate yourself, know that you will make mistakes, but do your best to mitigate risk. Don’t overthink too much, just get started
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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