Building Wealth Without Using Your Own Money With Sam Primm

February 14, 2023

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In this week’s episode of the Turning Profit podcast, Heather and I sit down with the one and only Sam Primm.

Sam is a father, husband, entrepreneur, mentor, and real estate investor. He is also the founder of Faster Freedom, the nation’s premier real estate investing education company.

Before discovering real estate, Sam thought he would have a normal life. Work a nine to five job, retire at 65, never build his own thing… But, that all changed when Sam decided to invest in real estate!

Today, he has built his own wealth, created financial freedom for him and his family, and he is now teaching his knowledge to others all around the country.

In this episode, Sam is here to discuss how to build your wealth… without using your own money!

Impossible?

Not for Sam!

Tune in now for more.

 

Key Takeaways:

  • Introduction (00:00)
  • Are you willing to go into debt? (02:59)
  • What happened when Sam quit his job (08:47)
  • Sam’s first deal ever (15:01)
  • Why the right partnership can make or break your business (21:56)
  • The education products Faster Freedom offers (26:35)
  • The value of great social media marketing (30:45)
  • Let’s talk about hate comments (39:45)
  • Sam shares his future plans with us (42:58)
  • The last few questions (46:58)

 

Additional Resources:

Read our monthly income reports at: https://turningprofit.com

Want to see what’s possible with Land Flipping? Get a detailed breakdown of our first 50 Land Flipping Deals here.

Want to connect directly with me and like-minded land flippers? Join our free Land Flipping community here

Follow Heather on Instagram here.

Follow Pete on Instagram here.

Connect with Sam:

Learn more about Faster Freedom here.

Listen to Sam’s podcast here.

Follow Sam on Instagram: @SamFasterFreedom.

Follow Sam on TikTok: @SamFasterFreedom.

Turning Profit is a podcast for people who love real estate, brought to you by Pete and Heather Reese.


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Latest Income Reports

Income Report – July 2023

Income Report - July 2023

July was the worst month we’ve had in a while. Of course, it directly followed the best month we’ve ever had (June $729,254).

We finished out the month of July with a total revenue of $183,448. This is the lowest revenue total we’ve had this year, and it kind of messes up my numbers. 🤣

The gross profit for the month was $69,212. This is a 37.72% gross margin. This is also not as high as I’d like to see it, but it’s something to strive for in the future.

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June was a GREAT month for us!

In fact, it was our best month yet! We brought in revenue of $729,254 in land flips in June. This is the total of all the sales.

We just barely beat out our revenue of $728,000 in January, but I’ll take it!

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This equates to a 38.07% gross profit margin. 40%+ is where I’d like to be, but we were pretty close.

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That equates to an average gross profit per deal of $35,829.94.  This is a substantial improvement from our historical average and recent months. So far this year, we have been averaging over $23,000 per deal. I hope this trend continues!

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