How do you choose between building wealth through real estate or scaling a business? What if the answer was doing both? In my latest conversation with Sam Primm and Lucas Walls, founders of Faster Freedom, we dive deep into the secrets of strategic debt, authentic entrepreneurship, and financial freedom. Can leveraging both paths unlock exceptional success?

We have some commercial stuff, we have some lodging stuff. We've done oil and gas. But we've really honed in on the business acquisition side, and that's where we're gonna spend the majority of our time. We'll still buy real estate to kind of offset some of the cash flow. But tell us a little bit about what you love about both classes and maybe some of the downsides of both classes.

Lucas Walls: Yeah, I would say our one of my main focuses is the market value or the enterprise value of our organization in that. That comes in forms of our real estate and our business value. Right? So, we were lucky enough, or at least I was, to understand that we don't want the businesses to be all about us.

Welcome to the Exceptional Companies Podcast, a podcast for purpose led entrepreneurs looking to master the art of buying, selling, or optimizing small businesses. Your host, Chris Seegers, founder of Exceptional Companies and author of Selling Mainstreet, has over a decade of experience starting, buying, and leading successful businesses.

He's here to guide you through the complex world of business transactions and growth. Each week, we dive deep with actionable insights, expert interviews, and real world strategies to activate and equip you to live exceptionally and build exceptional businesses. Now, let's dive into today's episode.

Here's your host, Chris Segers.

They've built a huge portfolio of real estate from Ground Zero so they can tell you exactly how to do it. They're just normal guys as far as I can tell. We're gonna talk about a few things, but really how business ownership and real estate collide on our end. We've, owned both asset classes for a long time.

It sounds like these guys have as well. We think there's really great levers in both of those asset classes. But gentlemen, welcome to the show. Super excited to have you.

Sam Primm: Super excited to be here.

Lucas Walls: Yeah, Chris, looking forward to it, man. It's gonna be fun.

Chris Seegers: Yeah, absolutely, man. So, all right, who wants to start with the story? Which one of you guys is gonna take the lead and we'll just start riffing from there.

Sam Primm: I'll let Lucas start with the story. Lucas, maybe do you wanna start with uh, your story about you know, getting into entrepreneurship and Ude kind of thing and then Yeah, I'll take him back to college after that.

Out of real estate, you know, there's probably a thousand, maybe 10,000 businesses within the real estate industry that you can make businesses out of. So it's kind of the best of, both worlds for sure. But uh, yeah, I'll take you back. Pretty man, no, it's not that boring to the start. I was gonna say it's pretty boring, but.

Kind of fun actually. But anyway, my dad gave me Rich Dad, poor Dad when I was 22. And I was getting my engineering degree at the time. And up until 22, at least from like 18 to 22, I was a pretty big shithead. And so when I read Rich Dad, poor Dad, I was like, yeah, kind of whatever, but I was at least, you're still a shithead, by the way.

Sam Primm: Yes. Sorry.

Lucas Walls: I would, I

Chris Seegers: Uh, you can also articulate how did you go to engineering school and you can communicate what happened there.

Sam Primm: Well, it took him six years, so he is not your typical engineer. All right.

With a 4.1 and never even opened a book. So it's a different animal for sure. But it taught me a lot about resiliency, and just like surrounding myself with the right people and figuring out problems that way. But as I was getting close to graduating, give or take, I uh, read Rich Dad Poor Dad.

My dad gave it to me ironically, and I didn't really know what it was or what to do with it at the time. So I went in and got my engineering degree, you know, thought I was gonna make tons of money, retire when I was young, and uh, have multi multimillion dollars in a 401k. That was my plan, right? And I, think my first week on the job I ran like the numbers of, if I get a 3% raise every year and put this much into a 4K, I'll be a millionaire.

What is the difference here? So then I kind of just dove in headfirst to real estate and the principles of Rich Dad, poor Dad came to me, came back to me at that time, and I read it again a couple more times and then, but just dove into, I. BiggerPockets all this stuff, and I'm like, Sam, I'm moving back to St.

Louis and we're gonna fricking do this thing. And we did. So, uh, Sam, I'll let you kind of take it from there.

Sam Primm: Yeah, I'll fill in the gaps a little bit. So, Lucas and I have been best friends since middle school. Went to middle school together, high school together, then college. Lucas went to engineering school, but then ended up moving to Springfield, where I was in school.

So we lived together in college as well. We had a painting business in college where we would paint houses in the summers, basically for beer money. During the school year, so we didn't, so we'd go out to the bars and have fun. And then we had a business where we, you know, we tried to be bookies, like take bets as bookies.

And we did it. And then, we stepped on the gas.

Chris Seegers: So was it primarily single-family investments that you were doing, house hacks, and that sort of thing that most folks get into? And then walk us forward to how you really built out your brand and business and everything that you guys are doing today.

So we knew we wanted to do that, and I also wanted to quit my job, but I thought they could be the same thing and. They were not. But we'll get into that later. But yeah, our plan was to 10 houses in 10 years. And we were gonna buy a house, fix it up, flip it, sell it, take the profits and put that down on the next rental property.

And then buy a house, fix it up, sell it, take those profits, and other rental property. So we'd have to do 20 houses to get 10 rentals while we're fixing up our first house to sell it. We figured out, debt and how to use good debt and the advantages of cash out refinances and restructuring debt to pay off our private lender.

So, we never sold that first house, and we still own it to this day. We're able to refinance our private lender outta there, keep it, and then go do that again, and not have to do the fix and flips to get those first 10 rentals.

But how would you guys define wise debt or good debt? Because I do think that's something that a lot of folks come in with a lot of kind of philosophical baggage around that.

Sam Primm: Yeah, Dave Ramsey. He called me a liar on his show. FYI so s that guy. But anyways, I, I talk about this a lot because we're taught growing up that debt is bad. Borrow money My, parents didn't, you know, they. We bought a car once every seven or eight years, they would pay cash for it. So, I was brought up in that as well to avoid debt, but "Rich Dad, Poor Dad", and just getting in the world and surrounding yourself with people that are smarter and wealthier than you, I realize, and we both did that there's a big difference between good debt and bad debt.

So borrowing money to buy a car that's bad debt, and it's okay to have some bad debt. I'd rather have, you know, take a hundred thousand dollars loan out on my wife's car than write a hundred thousand dollars check. So that's fine, but just know it's not gonna create any wealth. So those are the files that I tell people to run it to. If you're borrowing money to buy something and it goes up in value, a AKA business or real estate, and produces cash.

Business or real estate, that's a really good way to buy something that you can't afford to buy. But if you're borrowing something again that's gonna go down in value and doesn't give you any cash, then that's bad debt. So, just simply understanding the mechanism and the difference in the two it makes it pretty clear that good debt creates wealth and, you know, bad debt is something for, you know, liabilities or a way to get into, you know, trouble.

But if you're pretty high octane and high throttle and you're like, Hey, my goals are to be worth a hundred million or 50 million or something, that's pretty big. It's like, okay, you're gonna have to take a lot more risk and you're gonna have to do some things that most other folks won't do to get there.

So it is, you know, really based on your goals and thoughts. So, okay, so you're understanding structuring debt and how to leverage appropriately, and then where'd you guys go from there?

Lucas Walls: Yeah, so this was still while we had full-time jobs, I was an engineer in St. Louis, and Sam was, uh, selling Caterpillar equipment in the St. Louis area as well. So we're like, the plan was to build up enough rental properties so I could quit my job. I knew very early in the process, Hey, this is not for me.

I wanna be in real estate full-time. Sam didn't quite. Know that yet. He liked his job Okay. And made better money than I did. So he it was a little more for him to, to leave that comfort. Right. So the plan was to build up a rental portfolio. I would just manage it myself and I could pay myself the cash flow.

So we started to incorporate fix and flipping into our strategy. So we were doing probably 20 rentals a year, and 20 fix and flips a year. The last year we both had full-time jobs, so that's a lot for somebody as a full-time job. So, we were working a lot right to build this up and to expedite it as fast as possible.

And we did that, we did a great job, and by the time we went full-time, I had, we had about 60 rentals and you know, probably, I don't know, not a whole bunch saved in reserves, maybe like a hundred grand, give or take. And we were able and so yeah, that's the steps there. Yeah.

You gotta go all in. If you're not fully committed mentally, emotionally, financially, you're gonna lose. What do you guys think about that? Because you guys took a different path than what is out there, I think in social media.

Sam Primm: I think that's good for clicks, but not good in reality. I think, you know, we don't, you don't want to jump in a pool whether you know there's water in there or not, right? So I think people that tell you to quit your job and go all in, I don't think that's good advice. I think the advice should kind of be what we did.

We had a stable base of assets with equity, so our net worth was pretty good. We had passive income through rentals, not as much as we liked, but it was coming in, and then we had active income set in place. We had some flips, we had some wholesale, we had some deals in the pipeline. So when I quit my job, I knew.

Banks aren't gonna lend you a ton of money on a new business, maybe even to invest in real estate. They're gonna like kind of limit that and kind of pull the reins back on you a bit if your only income is that asset. But if you have other income coming in and it's crazy. But banks, they'd rather have.

They'd rather have you have a, you know, $80,000 job. They think that's super secure. Even over, you know, a ton of flips that maybe make, you know, a hundred, 150 grand. They just, that W2 just still carries weights, even weight, even with banks that are in the investing space. Yeah. So that was, I would say, I.

Hold on as long as possible. Unless you're miserable and not with your family, working 200 hours a week or whatever. Yeah. But yeah, I think slow it down, have some systems and jump when it's right.

Lucas Walls: Yeah, I would, let me add to that a little bit, Chris. I think just for example, like we built our portfolio up to, I think it was around like six or $7 million when we went full-time.

So that was interesting. But our we knew our goal was long-term wealth and we knew we had to have. Excellent banking relationships to leverage to be able to get there at the speed we wanted to get there. But I also think it depends on what stage of life you're in. We, were lucky enough, and some people are lucky enough to start this when they ha don't have a, family that relies on 'em.

You know, they're younger, they live, they live very frugally. They could house hack their way to having no monthly payment. And then I, you know, at that point, you know, go all in. I'm okay with that, but just know that those banking relationships aren't gonna be there for a while. You're gonna have to fix and flip.

You're gonna have to wholesale to show you, to prove that you can get that active income up to what they wanna see.

Now you're gonna have to take risk. But I'm like, you shouldn't burn the ships if you can keep going and keep your W2 going as long as possible and still do the other thing, and eventually build kind of that off ramp. That's the way you should do it. And I was kind of the same way, like younger years, my wife and I knew kids, man, we were working 80, 90 hours a week buying real estate, buying businesses, but we had very little downside, right?

I'm like, let's take a bunch of risks, 'cause like we don't have kids. We both have twos, we have passive income coming in. So like, what's our downside? But once as soon as you had that first kid. It changes everything, and you're like, okay, it's not just me. Like, I gotta make sure I provide for my family.

Lucas Walls: Yeah, I'll uh, kind of tee it up for Sam here, but um, yeah, once we went full-time, then everything started to scale much faster. Right. So that's, that is a benefit of diving in. Right. So, for flipping, we got pretty good at it, but what we did was we partnered with an old business partner of ours that was doing about a hundred a year.

We were doing, you know, 40 projects, give or take a year, and we partnered and grew it from there. So he had a good local brand already, and uh, we just kind of added gas on it with Sam and I coming into that. So, continue to add rentals along the way. So we got really good at fix and flipping and acquiring and building a rental portfolio.

So that's what really probably catapulted us into deciding to start an education brand. And I'll let Sam take it from there.

Sam Primm: Yeah, Luke's passing over to me 'cause that's kind of Lucas and I have divided and conquered, is what I kind of like to call it. I don't know if he likes those words, but he focuses on the flipping and kind of the rentals.

And I focus on the education. So that's kind of my baby. And those are kind of his babies. So we decided to start an education brand together. Exactly. 'cause he said, I remember specifically there was a guy that wrote a book on the Burr method and I knew him and he had done like five burrs and we had done like a hundred of them.

And I didn't know if I felt. I had enough experience to teach, but I'm like, he doesn't have enough experience to teach. So, uh, we just started to post on social media, and then I kind of took that over and started to post quite a bit, and then it just kind of grew and blew up from there. We have three and a half million followers on social media now, and it just has organically grown over the past four years just because we're not those fake.

And we have a backdrop of, you know, 250, 300 flips a year, 50 million in real estate, that does make for pretty good content. And then, you know, the connections you've been able to make and the people we've been able to help have been even cooler. So it's kind of an accidental organic social media slash, you know, coaching program growth out of.

Kind of demand and lack of quality product out there because it's pretty easy to flex on something, and, you know, show off when there's no substance behind it.

Chris Seegers: For sure, man, and I think as AI becomes more prevalent, that this is my opinion, but I think there's gonna be. Like a high value to authenticity. It's like, all right, these people have done it. They're walking it now. It's not just somebody that created some beautiful website that can post great content.

I don't really, I'm not even on social media, like the only posts come out of this podcast where they clip it up and, you know, kind of post it to the things like, I'm not a person that's wanting to be out there. But, I appreciate that from you guys, and I just think people coming out of Covid are seeing, you know, they're starting to ask more questions.

They're like, Hey, actually, tell me more about what you've done. And when you're like, yeah, I've done five deals, it's like, eh, I mean, that's great. Like, that's gonna help somebody who's done no deals. But if you've done a dozen or you know, a hundred, you know, you're just in a different league.

We've done a bunch of stuff in oil and gas space, and then real estate. But we love both sides of those, and I love the turn 10 31 aspect of it, which allows like, great capital gains to convert into cash flow. But tell us a little bit about how you guys accomplish that.

Lucas Walls: Yeah, so, a big part of it, you know, you gotta have, I would say, three main parts. You gotta have deal flow capital and management, and you have to have all three of those things for it to make sense as an investment. And you could buy the best deal in the world, had the best financing lineup, and if you don't manage it the right way, you're not gonna.

In real estate, it's not gonna, it's not gonna be a good investment. So, we started with single families and then built those up. Got good leads, lead flow from real estate agents, wholesalers, all that stuff. And then started to transition into multifamily a little bit. Uh, we still love single families.

Whether it's a $20,000 rehab or a $70,000 rehab and force that value, we're not speculating anything. We're forcing appreciation and going on the back end and refining at 75% loan to value, and then we just go do it again and again. And we've done it 300 times. So we built up a $50 million portfolio, but multifamilies were a big part of supercharging that for sure.

Chris Seegers: Love it. And did you guys do traditional kind of friends and family and debt? Did you do some sort of fundraiser? How did you guys kind of think through the capital piece of it?

Sam Primm: Yeah, so we did everything the bur method and the traditional friends and family, private lender route kind of thing. So yeah, we haven't syndicated or done a fund. I think we could, and maybe we will with our social media presence. I think we probably could start a fund and raise some money if we wanted to, but we like to.

Secondary market money that we didn't really have to go that route, and we haven't had to yet. So, we just looked at a, you know, an $18 million deal that we didn't get, but we were even gonna take that one down with private lender debt and, you know, and traditional financing. So, we can do a lot with the method that we do.

Yeah. And we're getting pretty good at it.

Lucas Walls: We've built a lot of really good relationships with private lenders. Uh, Most of our private lender loans are. Three to six months, right? You buy it, you rehab it with the private lender money, and then you pay 'em out with a refinance. So we can turn that money pretty quick, and we have about, I would say, 2 million of private lender money out at any given time from on a short-term basis.

And then we prove it, they like it, and then we kind of bring 'em into the long-term deals where they get a little more cash flow, but they're into the deal for two to four years instead of three to six months.

We have some commercial stuff, we have some lodging stuff. We've done oil and gas. But we've really honed in on the business acquisition side, and that's where we're gonna spend the majority of our time. We'll still buy real estate to kind of offset some of the cash flow. But tell us a little bit about what you love about both classes, and maybe some of the downsides of both classes.

Lucas Walls: Yeah, I would say our one of my main focuses is the market value or the enterprise value of our organization in that. That comes in forms of our real estate and our business value. Right? So, we were lucky enough, or at least I was, to understand that we don't want the businesses to be all about us.

Obviously, they're gonna grow better with with us involved. But they can kind of run without us, which helps our the enterprise value of those organizations. So, for our real estate, it's, which is like the foundation of our existence, of our balance sheet. And it allows us to leverage a lot of different things if we want to uh, relationships, money, contractors, whatever.

But, so our businesses that are valued off of let's say net income, for, to keep it simple, are you know, our flipping business, our buy and hold business. I'm sorry. Buy and sell a business. That's one. Our education business, what Sam talked about, I. And now we have a property management business.

So we got really good at managing our own properties, and we're starting to get outside owners too, and really build up that actual cash flow of that business, where we never really thought that was possible. But just one of those other things within real estate that you can create businesses around and really start to scale that.

So, uh, yeah, I love, I love both of 'em. I would say the real estate holdings is not very cash-heavy, right? So we need some flow-type businesses, some higher-margin businesses like flipping like the education business, to kind of supplement our equity and the non-cash heavy business of owning real estate long term.

Sam Primm: Yeah. And these are all kinds of businesses that have grown through our systems and our processes. We're not, you know, where you are in the business buying. I look at 'em as the same. I mean, they're not technically obvious, how you would sell them or value them, but they're the same to me.

Lucas Walls: Yeah. We treat 'em as divisions here, Chris, and not separate businesses. We're all in the same office.

Chris Seegers: Yeah. And that's how, so we run a family office, and that's exactly how we thought about it. So when we started 15 years ago, we really just said, Hey, we wanna be really great at business. I. At business principles, because you can take those and apply them to anything. I mean, really, like every business is 80% the same or 90% the same.

And so we've set as people, like there's a really great transition. People in the real estate investing space get really great at running their business, and then eventually they're like, Hey, what should I do next? I'm getting bored, or I want to try something else. And I always say, Hey, look at your PNL.

Look at your p and l and see if there's an expense on your p and l that you feel like property management is a great example. Hey, could you run that business? Could you add that to the vertical, drop that expense off, and create cash flow off of that, off of that vertical? And that's how we did it. We've got an insurance company, we've got a financial advisory and wealth management practice company.

And when we help people sell their businesses, it's pretty simple. They come and they're like, Hey, I think my business is worth this. And I said, look, there's four areas that your business is gonna be valued in. Number one is your people. If you're working in the business, it's gonna be way lower. If you've got lower lower-quality team and they're just doing exactly what you say instead of autonomous, and they're self-governed, and they actually know how to do it.

Number two is your processes. So people and processes are number are the top. Then it's your client mix. Like, how diversified are you, how concentrated are you? You know, all of those things. And then your culture and the culture is the wild card factor where you can actually get paid a massive uplift on your enterprise value.

The goal should be enterprise value growth, and you should be looking at that once a quarter. Know exactly what your business is worth and use your three-year EOS process to backtrack. Into Hey, our business is worth a million bucks today. I want it to be worth 10 million. Sweet. We can actually map that out very cleanly for you and show you exactly how to build a business that's worth that.

And most business owners don't think that way, whether they're young or old. They're just like, Hey, I wanna grow EBITDA and I want to do this. And it's like, those are important, but if you're not investing in the right things, you're gonna get to a business where you're working 50 hours a week and it's still not worth that much 'cause you're in it.

So I love that, man. That's a great mindset.

Lucas Walls: Yeah, well said. Dude. We do something very similar. We've been on EOS for years now, and I feel like we outgrew it just a little bit, or as uh, our organization is a little unique with the different verticals. So we kind of implemented our own, and we mapped out a three-year and a five-year.

Chris Seegers: Yeah. Yeah, for sure.

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Chris Seegers: So let's talk a little bit about leveraging businesses in real estate. And I'll just give an example. So this year we, like our cash flow has come up pretty dramatically with the businesses we bought, and we've stabilized them. And so we're, I hate paying the government any dollars.

The cost segment needs to come out at this, and that's gonna decrease our taxes by this. Yeah, I still don't think, and this is just my personal view, I still don't think you should be like, Hey, this is how we're juicing the returns. But those are real dollars. If you're like, Hey, this is gonna save us 300 grand in tax dollars, that dollar, those dollars are going directly into your next investment.

So, what are some of the ways you guys are thinking about leveraging real estate and business?

Sam Primm: Yeah, so, I'll let, I think I know where Luke's is gonna go. Obviously, we've been friends for 25 years, so I look at it the way to leverage the business, and Lucas kind of alluded to this, and you did as well, but we're leveraging all of our businesses together.

And then we can also manage it for them after the fact or list it for them. Now, obviously have they have to be in St. Louis to do that. We have students in all 50 states, but we have, you know, probably 75 to a 100 students that invest in St. Louis remotely. So we're able to just leverage the eyeballs of social media and therefore the students that come from that into all of our other businesses.

So, Luke's gonna go somewhere else with that. I think. I know he's going, but I just, that's how I look at it 'cause that's, you know, MySpace the branding, the social media, the eyeballs, and I think it's just a cool way to take what we do and. You know, efficient size it for us, but then be able to scale it for the whole country, honestly.

Lucas Walls: Yeah. And I think there was a point in time about two years ago where Sam and I got interested in in buying businesses, and well as well, like just some more verticals to add to our to our. Organization here.

Because I understand it. And also quality equipment as well. Which there's some great benefits in heavy-duty equipment as well, tax benefits. But so if you are into the buying business realm, I would think understanding the real estate side of it, where you can take down a benefit take down a real estate along with the business and utilize those tax benefits is just makes you that much stronger.

'cause for example, you said cost segregation, so we got 50 million in real estate, give or take. Our cost base is obviously a lot less than that, but. So we can straight line depreciate about a million bucks a year that we don't have to pay taxes on. So we can make a million dollars and pay zero in taxes now.

And then we're like, all right, now how can we get creative with this? And we hold a few. LLC is a side that we know we've done a lot of construction in and bought a lot of real estate in. And then we look at cost segregation opportunities there, and we can pick off, you know, either apartment complex or a handful of houses to execute that cost to get our tax bill down to zero.

And that's how we look at it every single year.

But I. There's just so many that, I mean, that's why real estate is so amazing. Like, there's just so many tax benefits to using it. And I always encourage people, if you're like, Hey, I'm an acquisition entrepreneur, I wanna own a business. I'm like, that's awesome. Learn how to run a business, but also really understand real estate and tax law.

'cause there's, I mean, there's hundreds of thousands of dollars every year that you can save, you know, once you scale a little bit. And that's real money. I mean, we're seeing some crazy stuff with Trump, but what we're seeing is like our government is defrauding us out of billions of dollars a year, and it's our money, you know?

And it's like, it's not like they're going and investing it into the social security system, making us a bunch of money, and then paying us out when we retire. They're like, no, they just piss it away. So I've really been encouraging guys like, Hey, y'all go find this money and reinvest it back into the US economy 'cause you're gonna be a better steward than the government is.

So I think obviously we will eventually, but we're, we just like to hold them and own them and squeeze them. So,

I need some help.

Sam Primm: Yeah. I'm so you, hit on a point and we talked about a little bit before, but I'm. Like, try to think through these types of things for content and to think of new angles to try to help more people than not just say the same thing everyone else was saying. And a lot of people say, alluding to what you said, the system's kind of broken financially for the average person.

And I I go in the opposite way. I think the system's working as intended. I think the system was created you know, in the early 19 hundreds by Rockefeller and a lot of people with a lot of money to create, you know. Mindless factory workers and society just translated into not needing factory workers as much anymore.

And you can do that in what we do it through. And the only way that we're gonna teach it, 'cause it's all we do right now, is to real estate. So you need to understand how to, you know, buy a distressed property and then either sell it or wholesale and then just make cash now, like make a lot of money in the next six months, and.

As you're doing that, you need to understand the power of kind of melting in a few rentals along the way to build your long-term wealth. So that's kind of the mission that we're on right now, is teaching people to find these distressed assets, find these funding sources, and then do what you need to do.

Do you need to get out of some credit card debt? Do you wanna pay off your house 'cause you're not sure about the future? Well, let's work on that active income. Flip five houses this year, make an extra 200 degrees, and get out of that stuff. Are you good financially? You have a stable job? Well then let's start to add some rentals.

So we don't teach it. So what we know and what we teach is let's give you the tools to be able to be financially stable on your own if something should happen, do your job, or industry gets disrupted. And then, as well as building some long-term stability and long-term, you know, independence by throwing some rentals in there as well, because as we've alluded to, rentals don't really pay the bills very quickly.

Lucas Walls: Yeah.

Chris Seegers: I love it.

Lucas Walls: And I think, yeah, we've done a great job of teaching the masses or spreading the gospel there. But we've also done a really excellent job of creating a culture within our own organization here, you know, almost 50 people, and getting them to see the power of real estate and providing the systems that they can go.

Because not everybody's meant to be a crazy entrepreneur like us. So, um, but

Sam Primm: Like you, you're crazy. I'm normal

Lucas Walls: in, In that, but. Building, Building wealth is got, has to be for everybody, or else you're gonna be working until you're 85 years old. So, this is the way we know how to do it. We have all the systems in place, and we want to, we wanna do that.

We wanna make everybody in our office a millionaire and have them be able to retire when they want not when they have to.

Chris Seegers: Yeah, I love it, man. We built a curriculum for our team called The Blueprint for an Exceptional Life, and it was that same thing. I'm like, guys, all of this is in the architecture of life. Anything that's true can be used by anybody. I don't think there's any like special secret sauce that anybody's smart or whatever.

There's a blueprint, there's a way that you can build this value out, and it comes back to kind of the pillars of your faith, your family, your finances, your, you know, your fitness, your foot, like really understanding what are the cos of life you wanna pour into. And then just like EOS, like build a business plan for your life.

We've got something called the one-page life plan. It's literally just a plan that you run for your life. And we started it 'cause I was like, man, I have, I'm business planning for my businesses. Why don't we have something that is for our life that we're doing the same thing where we're make making consistent progress.

So I love that. And I had an Uber driver, I went to Texas for some business last week. And this just reiterated it. 'cause some people on our team that are younger are like, oh, there's no opportunities. And you know, it's kind of dead in the US. And I'm like, that's absolutely false. And this Uber driver was from Uganda, moved out here, was a refugee, started a trucking company, has a trucking company, and is still driving Uber.

We live in a truly tremendous country, but you gotta go and you gotta do something different. You can't just take the playbook. And like you said, Sam, we've been brainwashed the industrial revolution. Man, that was so long ago. And yet we're all living our lives very similarly, even with how we approach parenting.

It's like, Hey, we're gonna send our kids away and they're gonna go do this thing. And you know, and then maybe they come back and I'm like, actually I want my kids to learn this stuff now and be part of the family enterprise and to have that education now. And if they don't want to do it, that's awesome.

They can go do whatever they want, but I don't want 'em just to be like, Hey, go get this degree and then figure it out. So I love that. So, all right, we're kind of getting close to the 50-minute range, which is where I like to, like to keep this. But what's I want to go with two questions.

Lucas Walls: Yeah, I'll give some bad advice, and you give the resources. Let's go. Alright. So bad advice for me. When? When, uh. Sam and I, and there, there's some caveats to this, don't get me wrong, and I'll get to 'em, but when Sam and I first started, they're like, why would you wanna partner and give up half of everything in what you're building?

And I was like, why not? And 'cause with the with th

The right partnership, one plus one equals

Sam Primm: 100. I throw a different number every time, but it's way.

Chris Seegers: I love that.

Lucas Walls: With awry partnership, you know, it's not one plus one equals two. It's a multiplier effect, right? And uh, there are times where Sam's a little low that I can pick 'em up or vice versa, and it's just been tremendous.

Chris Seegers: Yeah, I love that man. We actually created a partnership assessment tool because of that, 'cause everybody was like, partners are, and I'm in business with five of my siblings. My wife is my partner, like in business and in life. And we did this partnership, and I've had some bad partnerships in oil and gas.

We started an upstream oil and gas firm that was. A terrible experience 'cause I had two partners that kinda lost their way. But we built this assessment that's really just, and it's pretty simple, right? Take a piece of paper and hey, what are the great partnerships, marriages, relationships, whatever. Hey, what are those core values, the things that made it work?

And then everybody's got horror stories. Hey, what are the things that didn't work? And then start drafting that into almost like a partnership, like a mission statement. And when you come into it with eyes wide open and you're like, Hey, here's the metric for how I'm gonna do business, and somebody doesn't check the box.

You're like, sorry. You're a good person, but you just, you and I just won't be good partners. I love that.

We already know their values, and we did the same thing with family. My, my brother-in-law runs our property management company and our flipping organization, so it's served us very well. But, uh. There with partnerships and hiring friends and family, whatever that looks like. There's definitely things to look out for

Sam Primm: for.

Well, I think the biggest thing is, yeah, setting the expectation with that person. Because you can't really teach loyalty or loyalty takes a while to, you know, cultivate. But Andrew, for example, I met him in kindergarten, one of our disposition guys who disposed, you know, 250 houses a year on the wholesale side for us.

But as far as resources go, some resources. So what we tend to do is I like to get my active, like thoughts on the market, on the economy, on real estate from like podcasts and YouTube and things like that. So, obviously we have YouTube channel it's called Faster Freedom Media, and then as far as the, like.

More basic found, basic foundational concepts. We, that's where we get the book. So like, you know, obviously Rich Dad, Poor Dad, think and Grow Rich is a good one that we read as a company. So as our leadership team, all the leaders of our companies, we meet once a a week, go over all the businesses, look at all the numbers, but we also read a book together and kind of have a book club.

Like with EOS, we don't do rocks. We do monthly one thing. We got that from Gary Keller. So we kind of took the quarterly rocks into a monthly more tangible takeaway. So anyways, those are kind of the ways we do it.

Chris Seegers: I love it. Well, hey guys, as we close out, where should people find you? What's the reason? Where should they be looking to interact with you, communicate with you, et cetera?

Sam Primm: Yeah. So, pretty much any platform they're on, we're on with social media, just look up faster freedom, or seeing faster freedom is kind of my handle on a lot of 'em. Uh, Go to fasterfreedom.com and and just check us out. Our podcast is the Faster Freedom Show. So check us out wherever you're on your phone, whatever app you're on, we're on there.

Check our stuff out, and then if you wanna have a conversation, just shoot me a DM on Instagram at Sam Faster Freedom. We can talk.

Chris Seegers: I love it. Sam Lucas, thank you guys so much for coming on the show. Tons of wisdom here, and look forward to connecting soon.

Sam Primm: Appreciate it. Thanks, Chris.

Chris Seegers: Yeah, take care.

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