Episode 62 - The Deal That Put Us on the Map
What does it take to quit your job, find yourself owning 27 houses, pay back your hard money lender, and get a healthy bank appraisal on the properties so that you're sitting pretty in under 3 months?
Velocity of wealth. Faster freedom. This is Sam and Lucas's game, and today they are sharing the story of the deal that put them on the map!
This episode clearly demonstrates how, with decisive action (and some shrewd maneuvering to get the bank appraisal guys to visit the houses that they'd put some work into), Sam and Lucas were able to buy for $1.5 million and then get $2.12 million from the bank, leaving them with over $700K in equity in under three months.
Our hosts are basking in the glory of the good old days while showing the rest of us that deals like this are still out there if you manage your relationships with your bank and hard money lenders well – not to mention applying the BRRRR strategy and having a good property management company on hand.
Faster freedom awaits you too. Now, whether or not to buy a motel in Branson… that is the next question!
"Looking back, this was pretty crazy. We'd just quit our jobs and were like, let's buy 27 houses!" - Sam Primm
"What's crazier: that or a motel in Branson?" - Lucas Walls
WHAT’s IN THIS EPISODE?
- Getting 27 houses under contract for $1.5 million
- The pain of paying back the hard money lender $15K interest a month
- Why exterior improvements are easier to do when you have tenants
- How the bank appraised the houses – getting access to which houses they'd be looking at
- The value of maintaining good relationships with your bank and hard money lender
- Appreciating the power of real estate when you suddenly own 27 houses
- Why every rental is worth at least $200K in ten year's time
- The 20 Questions game
Meet the Founder of FasterFreedom
I founded FasterFreedom to teach people just like me to take ownership of their freedom. There is a reason why real estate creates 90% of millionaires in this country.
It's an incredible vehicle for leverage, cash flow, appreciation and the sheer practicality of it… Everyone (and I mean everyone) has the opportunity to benefit from Real Estate.
Real Estate can be overwhelming at times which is part of the reason why we don’t see more people taking advantage of the incredible wealth creating opportunities it provides.
I launched FasterFreedom to do just that… we provide the foundation and grooved path for individuals wanting to achieve freedom and financial independence through Real Estate Investing.
I pride myself in practicing what I preach, meaning all of my lessons and tips are constantly updated and based on the real investing that I do right now- so you only learn what works and not through theory or outdated practices!
Over $200 million owned by students and coaches!
Become a guest NOW!
Why be a guest on the podcast?
If you’re an experienced real estate mind who’s looking to further gain exposure and share your experience with the world, we’d love to have you on! We’ll collaborate on industry trends and topics you want to discuss and you’ll also get to link your social handles and any websites or pages you want to mention. If you’re interested, fill out the form above and our team will respond within 24 hours.
About our audience
The FasterFreedom Show podcast is an independent podcast that has gained over 350 5-star reviews. Our viewers are normally middle aged Americans that are looking for something more and see Real Estate Investing as a way to have more time, freedom and happiness. Special guests on the podcast usually see an increase in sales for their programs as well as the publicity on the podcast itself.
Ready to build sustainable wealth and enjoy a life of freedom through Real Estate?
