Flip and Danny recap six weeks of their passive income series, covering team roles, sponsor importance, succession planning, and refinancing lessons. They discuss business planning for a 48-unit property and share updates on a storage unit LOI and a Think Realty invitation.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group, family of companies. And welcome to another episode of our.
Podcast called Freedom Through Passive Income.
That's right. And we are live on vacation. Vacation, workation. But we're live on location while we're working on vacation to get all those.
Yeah, got it.
Yeah. Okay. Welcome to week 15.
Yes.
Quince. Yeah.
Yeah, yeah. Are you sure?
No.
Did you look it up before we started?
No, I should have. Yeah. Yeah. But this is our recap and key takeaways from this last week episode.
Yes.
And so we're going to start with episode number 99. Oh, before I get on, I'm not sure if you notice that I have my fun shirt Friday. That's right. Look at this. And that's because in about five minutes after we're done recording this, I'm off to the golf course.
That's right.
Four.
With the. With the three other knuckleheads.
It's the knucklehead foursome. All right, so episode 99, critical roles on a syndication or fund management team. So the key takeaways on this one is these investment vehicles have so many moving parts, and it takes a team effort of several roles coming together to make it work. Just one little thing and off you go. Another key takeaway is we listed out 14 roles to give you a better sense of what bringing these opportunities to life entails.
That's right. Episode 100.
100.
Yes.
We did 100. I can't believe it. We forgot. And all of a sudden, we got an email from our podcast that we do our podcast through, and they're like, congratulations. And like, what?
Yeah, congratulations on your 100th episode.
We did.
Boom. So that one was titled what's More Important, the Deal or the Sponsorship Team? Sponsorship Team.
Easy for you to say.
It's a little early. The key takeaway is a good team will use their knowledge and experience through different market cycles, and when faced with challenges, they will navigate them to the best possible outcome. The second key takeaway was Vet. Vet. Vet. A bad team can ruin even a good deal.
That's right. Ooh, I get this one. Episode 101. What if you got hit by a bus or a train or a truck? Because why is it always a bus? Anyway, tomorrow is not promised to anyone. Have your affairs in order to best protect your assets or your family. Another key takeaway was, who's going to take over what happens to my money? You want to know? Whoever you're working with has taken the time to think through all of These questions.
That's right. Episode 102 is the Good, the bad and the flippy and the ugly. But I love the thumbnail the good and the bugly. First key takeaway is the good. We are working on refinancing our 56 unit with a 1 to 2 million dollar range of potential added value since we purchased it. The second key takeaway was the bugly. We lost money on three rehabs, all three were duplexes and the total amount over budget was over $100,000. We learned the lesson of trust but verify.
Then episode 103 is our 48 unit. Creating the business plan. And so why create a business plan? And this is to ultimately hold ourselves accountable and see if we did what we said we would do and, and if we didn't hit some benchmarks, then we can carry forward any lessons learned. Another takeaway is planning every aspect of a project like this takes a ton of work. But being prepared is incredibly important when you're dealing with multiple units and it's such a long process, you have to be prepared for every little thing because if not, it's like dominoes. Yes, just knock it over and it's. There it goes.
That's right. And episode 104 was yesterday. It was our weekly update. So it was week 15 here in Austin. We recorded it. And the two things that we want to just mention again that we talked about was the storage unit. So we had walked a storage unit. We did some negotiations, we submitted an loi. It's all we read on. We're just waiting on the signatures. In fact, if I had my computer here, I'd be going refresh, refresh, refresh.
Like me watching my crypto account.
That's how fresh this deal is right now. And the second thing is, we were invited and it's invitation only, to be resident experts with Think Realty. So we're going to be featured in articles and on stage and at events and podcasts and we'll be creating videos similar to these because they actually watch our podcasts and that's why we got.
Invited and we still got it.
I know, it's crazy.
Well, awesome. Well, I hope you enjoyed this week's recap. Make sure you go right down here, Freedom Capital Investments, to join our investor club. There's lots of things that are there that are not on the social media accounts or the social media groups, but make sure you're going over those accounts and those groups to ask questions or mingle with the team, whatever you'd like to do. But give us those recommendations. Those requests let us know how we're doing, subscribe if you're on YouTube, and give us some great reviews if you think that we so deserve it. Anyway, we like to end all of our episodes with Invest Smart, Live Happy. Bye everybody. Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions and information on this show are not guaranteed. All investment strategies have the potential for profit or loss, y' all.
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