How to Make Your FIRST Million | Real Estate Investing Beginner Guide
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In this YouTube video, Sam, a real estate investor, shares his journey to becoming a millionaire without using his own money. He owns $42 million worth of real estate and a house buying company that will flip over 300 houses in 2022. Sam wants to help ordinary people create wealth and financial freedom and become full-time entrepreneurs. He debunks the myth that he came from money and explains that he grew up frugally. Sam believes that anyone can achieve generational wealth and impact if they understand the difference between assets and liabilities. Assets are things that produce cash and grow in value, while liabilities are things that go down in value and do not produce cash. Wealthy people acquire assets and use the cash flow from those assets to pay for liabilities. Sam emphasizes that people should not be afraid of debt, but rather should use it to acquire assets and achieve financial freedom. He advises people to focus on owning real estate, as 90% of millionaires in the US are created through owning real estate. Sam introduces the Burrs method, which stands for buy, rehab, rent, refinance, and scale, and claims to have perfected this method. He encourages people to watch his video on the Burrs method, where he walks through an exact property and shows how it's possible to buy rental properties without using any of their own money.
In this YouTube video, Sam, a real estate investor, shares his journey to becoming a millionaire wit