How to Create Wealth Without Using Your Own Money | LIVE FREE TRAINING
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The YouTube video is about how to build wealth without using your own money, with a focus on real estate investing. The speaker, Sam, is a real estate investor who owns a house buying company that will flip about 300 houses this year. Sam introduces himself as a real estate investor who will be discussing tips and tricks for wealth creation without using any of your own money. He explains that creating wealth is as simple as ABC, which stands for Asset, Borrow, and Cash Flow. He breaks down the concept, stating that you borrow money to buy an asset that produces cash flow, which you then use to pay back the borrowed money. The speaker emphasizes that wealthy people do not typically use their own money to create wealth. Instead, they borrow money to buy an asset that produces cash flow, which they then use to pay back the borrowed money.
Sam introduces the BRRRR method, which stands for Buy, Rehab, Rent, Refinance, and Scale. He explains that he has used this method to buy $42 million worth of real estate without using any of his own money. The speaker emphasizes that anyone can use this method, even without experience, as long as they have a mid-600 credit score. He encourages viewers to like and share the video and proceeds to explain the BRRRR method in more detail. The speaker also explains how to calculate the cash flow of a rental property by subtracting all expenses from the market rent. He lists six expenses that can be known before purchasing the property: mortgage, insurance, real estate taxes, maintenance, vacancy, and property management.
The speaker answers questions from the audience, including whether the BRRRR method can be used if the property doesn't need to be rehabbed. He also explains why he doesn't use his own money to invest in real estate, stating that he has bought 55 rental houses this year alone, which would require $2 million in cash to put down on the properties. The speaker also recommends networking with wholesalers and real estate agents to find distressed properties, which is covered in the mentorship program. The average time to get the first deal after taking the course is 90 days or less, depending on how much action is taken.
The YouTube video is about how to build wealth without using your own money, with a focus on real es