Use DEBT to Get Rich In 2023
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In this YouTube video, Sam shares his experience of creating wealth through real estate and flipping over 300 houses in St. Louis. He emphasizes the need to unlearn the concept that all debt is bad and shift towards leveraging debt to buy assets. Sam explains that wealthy people and companies leverage debt to grow their wealth, and paying cash for everything is impossible. He advises against hoping to get promotions, hitting the next big crypto altcoin, or winning the lottery to create wealth. Instead, he suggests learning to leverage debt properly to create wealth.
Sam emphasizes that getting promoted and receiving raises every year is not a recipe for wealth, but rather a recipe for enhancing one's lifestyle. To achieve massive wealth, one needs to leverage other people's money and understand that not all debt is bad if properly leveraged. The key is to borrow money to buy an asset that produces cash, use the cash to pay off the borrowed money, and own the asset that creates wealth.
Sam challenges the idea that saving money or following Dave Ramsey's advice is the way to create wealth. He stresses the importance of leveraging debt to buy assets, particularly real estate, which has been the primary source of wealth creation for 90% of millionaires. Sam advises viewers to start with one rental property and build from there to create wealth at scale.
In this video, Sam discusses the importance of owning real estate, whether it be commercial, industrial, or residential, as people will always need a place to live, work, and eat. He emphasizes the need to overcome the fear of failure, as failure is an essential part of the path to success. Sam advises viewers to embrace failure, learn from it, and fall forward. He encourages viewers to set big dreams, create a plan, and start walking the path to success, including failing along the way. Sam also emphasizes the need to be okay with debt, understand that equity creates wealth, and leverage it properly to create wealth through real estate.
In this YouTube video, Sam shares his experience of creating wealth through real estate and flipping