The FasterFreedom Show Podcast

What does it take to get into wholesaling property — and then succeed? Sam has another handsome bald man (not Lucas) as his wingman today: FasterHouse’s Dennis ‘DJ’ Montgomery.

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DJ is sharing how he went from rehabbing houses for people (after studying plumbing) to seeing a fat $3K paycheck for a wholesaler and realizing that there were easier ways for him to make money.

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Appreciating and understanding wholesaling is what this episode of The FasterFreedom Show is all about.

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There's authenticity when it comes to connecting with the seller, and there’s a relationship that needs to be managed with the estate agent.

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There’s always opportunity, regardless of what the market is doing, and there are ways to expand your network over time in smart, entrepreneurial ways.

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Sam and DJ unpack wholesaling in a clear and concise manner, doubling down on the pros and avoiding any long cons as they write down the numbers (on paper) and show those numbers to the seller, all the while preaching transparency and upfront honesty.

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This is a refreshing insight into what it takes to be the ‘middleman’ in a deal, while still ensuring that it’s a win-win for all involved in the deal.  ‍

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“If you’re going to buy a house and you’re going to shop it for a buyer, tell them that you’re going to bring buyers through, explain to them that you are able to bring investors that they wouldn’t be able to find otherwise.” - Dennis Montgomery

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“You have to be yourself.” - Dennis Montgomery

2023 is an excellent year for people to invest in real estate, but it is a bit more volatile of a market than some.

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However, there are different strategies you can use to build a profitable real estate business, and wholesaling is one of them.

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It is actually the #1 strategy to get into real estate in 2023.

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Wholesaling is a good strategy that can work in any market, any cycle, whether you have money or not, whether you have credit or not, or whether you want to take a risk or not.

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So it's absolutely worth trying. Whether you're already doing rental properties or a rehabber, wholesaling is something you can add to your toolkit to ride the shifting real estate market.

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In this episode of The FasterFreedom Show, Sam and Lucas discuss the basics of wholesaling. Wherever you are in your real estate journey, you will benefit from listening to today's conversation. So let's dive in!‍

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“Wholesaling is a great option for a lot of people that want to invest. No matter where you are in your investing career and experience, I think this is a great tool to have in your belt.”- Sam Primm

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“When you're a landlord, when you're a rehabber, the hardest thing for you to do is to find deals. When you're a wholesaler, you're providing these deals for everybody that needs them.”- Lucas Walls

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?

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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!

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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.

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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.

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Faster freedom awaits you too. Now, whether or not to buy a motel in Branson… that is the next question! ‍

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"Looking back, this was pretty crazy. We'd just quit our jobs and were like, let's buy 27 houses!" - Sam Primm

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"What's crazier: that or a motel in Branson?" - Lucas Walls

Chris Miles is the 'anti-financial advisor guy' and host of the Money Ripples podcast. Chris has a story we can all relate to: a father who did everything right to save (from a scarcity mindset) and yet was still left without enough to retire on. This led Chris to a career as a financial advisor.

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He was retired by 26 as a millionaire, broke again in his 30s, and wealthy again now. And we're all the richer, too, for his valuable financial insights that he shares with Sam Primm, who is flying solo on this episode.

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Learn how to get your money out of prison and do the opposite of what the rat race is wanting you to do. Understand how to beat inflation during a recession – with property – and get your money to ripple like Chris does. He's chatting to Sam while on holiday for a month in Hawaii, so we know he's doing something right! Please join us. ‍

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"Get cash flow under control. Make sure your finances are under control, and also make sure you're getting passive income coming in, where you're not having to work all the time. You are 'work optional.' You work because you want to. Not because you have to." - Chris  Miles