Sam Primm started investing with next to nothing, and in less than nine years has built a real estate empire … without spending his own money! He now owns $50 million in assets, has over 200 single family rentals, has flipped over 1,000 properties and runs his own property management company.
Plus, he’s created FasterFreedom.com to teach people how to quit their jobs, achieve freedom and financial independence, and become successful real estate investors by spending OTHER PEOPLE’S money!
Sam’s calculated approach to how he got started:
“My goal was never to quit my job. It was to start to invest in real estate on the side while I had steady income coming in. I wasn’t putting my family at risk. I wasn’t putting my life at risk. I wasn’t going all in on black at the casino. I was just, you know, trying real estate. … So, for me, I think that was the biggest thing. I was able to try a few out, get the bug, get the hang of it, see the potential of it, and then it started getting exciting.”
You don’t need to use your own money in real estate:
“I legitimately have bought $50 million in real estate using none of my own money. So, you don’t have to use your money. You just have to know how to not use your own money.’
The first home Sam bought taught him a valuable lesson:
“The very first home was a three-bedroom, one-and-a-half-bathroom, 960 square foot house in Maryland Heights, Missouri which is kind of a suburb of St. Louis. And the unique thing about that was that I didn’t know about refinancing or cash-out anything. I didn’t have enough cash to buy rental houses, and I knew I wanted to buy rental houses, so my plan was to flip a house, take that profit, and put 20% down on a rental. And it was during that first process that I discovered that I could refinance and recoup the lender’s money and keep the house. So, my very first house was supposed to be a flip. I ended up keeping it as a rental and I still own it today.”
The misconception about private lenders:
“A true private lender is not what people think. When most people think about private lenders they think about somebody with $10 million in the bank, somebody that has inherited a ton of money, or some mafia-type figure. Private lenders, in reality, are normal, middle-class, corporate W-2 employees.”
What’s the avatar for your ideal private lender:
I say the typical avatar for a private lender is somebody in their 50’s, retirement is in the windshield for them, they have an IRA they can self-direct, they’ve lived in the same house for 20 years and they’ve got some equity there. You’re just trying to find a normal person who’s planning to retire soon, who’s looking to diversify some of the money that they have access to.”
Sam thinks this is a great time to buy real estate:
“I think now is a unique time (in real estate). I did some research and the last time that we saw this steady of a decline in the Fed’s fund rate … was in the early 2000’s, and immediately as it was going down, house prices went up. So, now is a unique time where house prices aren’t jumping a ton yet – I think they will in the spring, summer, and into 2026 – but we’re in a unique time where we’re pretty confident that rates are going to go down and that does mean that prices are going to go up as people flood the market.”
Why you should form an LLC as a real estate investor:
“Having an LLC has a ton of benefits. You’re able to build business credit quicker, you’re able to legally protect your personal assets from your business assets, you’re able to more easily write things off as far as mileage and your cell phone bill and maybe when you rent out your house. Or, you can have a home office write-off. So, it just makes it more real, it protects your business assets, and it allows you to grow some credibility outside of your personal credit.”