Ep 118 - Week 17 Live Progress Update

Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our podcast, live episode. And our podcast is called Freedom for past wingman. Here we go. This is week 17. Yes.

Yes.

See how that just flows?

Yes. Yeah. Yeah. Nice job, baby.

Thank you very much. I have to make up for last week, but this is our week 17 live. This is our Week Update. As far as what's going on in the the world of flippantanny. Good Lord. But next week is May. We're already at the end of May. I know. That's so crazy.

Oh, it's crazy.

Yeah. It's so absolutely crazy. But. And you can see right here, we've got these. Cool.

If you're watching on YouTube. Sorry for you.

Listening to the audio. Listening. Yeah. If you're watching, you can see. But if you're not watching, what you're missing is the coolest travel mugs ever. We got these yesterday. They're for the Administrative Professionals Day. And it says, we appreciate you. And it says it's got our names on it. And then Freedom Real Estate Group, family of companies. And everybody got one of these.

Yeah, everybody got one. So that was really cool. What I loved the most about it is that we used to have to think of these things, help, you know, us delegate somebody to order or design or whatever. This time, we walked in the office and went, ooh, what's that? And it was. They did it. They didn't talk to us at all about it. And it is one of the coolest gifts ever. I'm actually already using mine. It's got tea in it.

I'm using mine.

You are not. It's still got the wrapper on your straw and everything.

It's called decoration.

Yeah. And did you say that it's got our names on the back?

Yeah, I showed mine.

Mine's in cursive.

Yeah, mine's black. Because I'm a black.

Well, you're a boy.

I'm a block.

You're just a boy.

I'm a blockhead.

Okay. Anyway.

Anyway, moving on. Download, update. Our Buzz Prout, which is what we use for our podcast, is now over 6,600 downloads. I didn't think April was gonna beat March or February, because March and February were really big. Yeah, I didn't think it was gonna beat it at all, and I think it's gonna beat it.

Sweet. All right, so deal updates. The 48 unit. So one of the nights this week, I could not sleep. And so it was because our Della on our acquisitions team. In our Monday meeting, she had said, oh, you know, seller emailed me and mentioned that, hey, if we don't close on time, then he might have to, you know, renegotiate the price with us, because he's seeing all of these other apartments selling at, you know, $88,000 per door. And so he's feeling like he left some money on the table. And I just. I just got ticked off. Let's just be honest. First I got ticked off.

Yeah.

And I'm not saying I'm not ticked off anymore. I am kind of upset because I feel like that's a little bit of an ethics issue because the seller is a licensed realtor, and, you know, we know how to do good business, and we've got a contract. We haven't agreed upon price. We did our due diligence. We thought it was fair. He thought it was fair. And he did have higher offers at the time when he accepted our offer. So I was just upset about it. I couldn't sleep then I was so mad because, you know, we've already put. We've got $40,000 of earnest money down. We've got 19,500 that went to the bank deposit, start paying for all the stuff that we have to do. We paid for the sewer scope. We paid for the fund manager that we just hired, which is $5,000 a year. I mean, there's just. There's money been spent, right? $10,000 in legal fees, $5,000 to our CPA for, you know, reviewing and consulting. Like, we've already spent the money. Like, don't be a jerk.

That's right.

This is real estate, though. And so we just thought we. This is.

Any moment.

Yeah, but it's fine. We checked and double checked. The survey is the last piece of information that we need. It's supposed to arrive on May 10th. We're supposed to close on May 16th. Everything should be good. And I told Della, would you just go back and, you know, get some reassurances from the seller? I'm sure he's not going to do anything, but he's probably. He's just. It's that fomo thinking that he could have gotten more money, even though he needs to reflect to. I'm not going to. Okay. There's also storage units. We're looking at two storage units right now. One of them doesn't look like it's going to be a deal, But Eric is going to call him today and, you know, make our cash offer and see if it. See what happens? And then the other one. So the delay in us getting. Remember I was press, press, press, trying to wait for it to come in. So the seller had to give the auto shop, because it's a storage facility that has an auto shop, had to give them a first rider refusal if they got an offer. So we were waiting on that. We thought it would be 48 hours. Then we thought it would be 96 hours turn. It turns out it's 15 days that we have to wait. But today I got a text and they said they refused. So then the seller see drama. Then the seller says, well, I don't know if I like this part of that offer. Can you change it to this? So I sent a brand new loi today, and I said, here, you can choose this loi or this loi. I don't care which one. But now that we've got the first right of refusal done and passed us, he's got two offers essentially from us. So I hope that this one goes through. Fingers crossed. And then there's a 34 unit I talked about in just a recording that we did just the other day. And I said, I don't want to forget to say this on the live because this was a deal that we found on Facebook and of somebody looking for JV partners. We said, hey, we'll talk to you about jv. It's important to me that you're a good operator. Who's on your team. How much experience do they have? Because I'm not putting money into a deal, and I don't trust the team that's actually handling it.

Right.

Turns out that they don't feel really good about handling the deal either, because Dayton is a new area for them, so they're talking about wholesaling it to us instead of jv. And I thought, oh, that's neat. So we'll see. Our underwriter is looking at it.

I love this week update because I learned about three deals right there. That was awesome.

We don't always have time to go over through this, so this actually is a good way for Flip and I to communicate as well. We're working on two storage units at the same time. We're communicating with you. Thank you. All right, the other thing, I'll go quick because I know we're running out of time. Last night, I posted on Facebook about a monthly networking opportunity. I only say this because it was cool. I learned it from, I think, a mastermind that we were at. They go every single month. There's certain people in that mastermind in their areas, they do a monthly meetup and it's just a networking opportunity, but they go to a restaurant so that each person or couple that comes gives $100 tip to the server.

And it's usually a local restaurant that's like a mom and pop restaurant. It's not. Not. They don't go to Applebee's.

Yeah. Okay, great. So good news. So I posted last night, a lot of people said, hey, yeah, I want to do that. And I thought, oh, this is really cool. So we're gonna start doing it here and then financial forecasting. I've been working on that today, actually, all morning and sending it over so that we can kind of finish it because it's going to allow us to understand, you know, how we hire, make our future hires, how we plan out the new funds that we're getting ready to announce that we're creating. And it's super, super exciting.

Right, Go ahead.

Yes, I'm done. I was going to go into more detail, but running out of time.

I'm talking too much. Yeah, yeah, you've been just a chatterbox. Anyway, at our last Mastermind, we did actually learn a very creative way, you know, because the speaker, who was also one of the owners of the Mastermind, he was like, I've always wanted to, you know, after 2008, you know, I wanted to figure out what the 1%, you know, what the, what the, what the 1% of the society does, you know, with their money. But then he saw what they did. But then he's like, okay, I don't want to know what they did. I want to know what the 1% of the 1% do with their money. And he went through in like, I don't know, he talked for like half an hour, 45 minutes. And Danny and I were, the entire time, we're deer in the headlight.

Yeah. Whoa.

It was amazing. And then at the end he said, so if you'd like to spend the day with me, I can work this and I can explain this better to you and talk to you how you can do it in your company. And before I even looked at Daniel to see, hey, are we gonna do that? She was already in the back talking to the guy setting it up. So we're gonna be going down in a couple weeks down to Atlanta to spend the day. And I'm sure that's gonna be a mind blowing experience.

Yes. I'm so excited for that.

And then the last one, we always talk about this nutrition and health thing that we're on while we were on vacation or gone for the last two weeks. So it was very difficult and incredibly difficult. Rudy's I'm looking at you. Rudy's Anyway, so it was very hard to do that. And even though we spent two weeks on vacation, I was down almost two pounds.

Yeah. And since my last weigh in, which was prior to.

Prior to two weeks.

Yeah, I'm down 0.6. So not as much as you, but my coach wrote and said, hey, I just want to say great job because since your last weigh in, you're still down 0.6. And that's after being gone for two weeks and not adhering to the plan. So. Yes.

Yeah, I went down 1.6 pounds and my coach didn't say a thing to me.

Hey, we've got the same coach. I know she likes me better.

Yeah, obviously. But I'm down seven pounds since almost a total. Almost seven pounds since we started, which was four weeks ago.

That's awesome. Woo hoo.

Yep. So back to you. Make sure you're heading over to FreedomCapitalInvestments.com to join our investor club. You know, all the other places that we're at, Facebook and all the other places. So. But we like to end all of our episodes with invest Smart, Live Happy. Bye. Hi, 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. Sam.