Flip and Danny recap their 12-part series on different real estate paths: becoming a Realtor, mortgage assignments, subject-to deals, and seller financing. They share recent wins including new property offers and attendance at a self-storage summit.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group, family of companies. And welcome to another episode of our podcast, which is called Freedom through Passive Income. Live like that.
Huh?
You gotta get into jazz. Yeah.
Yeah. Nice.
Welcome to another episode. This is our weekly recap and key takeaways, week 25.
Yeah. Fenty sequel.
All right, Episode. Oh, and of course.
Oh, fun shirt. Happy fun shirt Friday Shirt Friday.
That's right.
That's right.
Yeah. I had to create a folder on your phone of all the fun shirts, so that way I know which ones.
Are which and make sure you don't duplicate them too often.
I wore this one earlier this year. My goodness, you're funny. Anyway, all right, so back to last Saturday.
Yes.
Yeah.
Yes.
Don't even. This week has been.
Yeah, it has been crazy.
Episode number 169. Our journey episode. Our journey.
There it is.
Episode one. Why real estate? So key takeaways. This 12 part series is our is our experience that could guide you in your adventure. Whether you would like to do rehabbing, renting, turnkey, multifamily or passive income path. Another takeaway is the five factors to consider when deciding which road or path you want to go down. Your risk tolerance, time availability, knowledge, inner circle, and if you have access to capital.
That's right. Episode 170 was episode two of our journey. Pros and cons of being a Realtor. First key takeaway was, just like anything else, there are pros and cons to choosing the realtor path. Ultimately, for us, it was not the right path because we did not have an inner circle network when we got started. Key takeaway number two is. Out of the five categories, the ones you need as a Realtor is time availability, specialized knowledge and inner circle, which, as you know by now is majorly important. The two that aren't that important are risk tolerance and access to capital.
That's right. Episode 171. Our Journey. Episode 3, 12 Ways to Buy and sell real estate. So takeaways are the power of the pivot. It took us eight months to close a deal as Realtors, so we decided to look at real estate investing and started off with short sales and mortgage assignments. If what you're doing isn't working, change it. When you're hitting your head against the wall, the only thing that's moving is your head, right? Another key takeaway is after closing our first mortgage assignment, we realized how much faster the process was compared to short sales, which seemed to drag on and on and on. So we switched our focus to mortgage assignments. Find what works for you and be bold enough to let go of what doesn't.
That's right. Episode 172 was episode four of our journey. What is a subject to and wraparound mortgage? Key takeaway number one. What is a subject to?
Yes. What is a subject to?
Subject to means purchasing a house subject to the existing mortgage. All that means is essentially taking over the mortgage. Then a wraparound mortgage means to sell the house and wrapping the buyer's new mortgage around the existing one. Key takeaway number two. Here is the five category breakdown for sub two wraps which breaks down similarly for short sales and mortgage assignments too. You must have a high risk tolerance, loads of time available, a ton of specialized knowledge and and an inner circle, especially attorney contacts. The one category you won't necessarily need to get started with these is access to capital.
Absolutely. Episode 173 Our Journey. Episode 5, Seller Financing for the win. For the win. Key takeaway. Seller financing is when the seller takes the equity they have and creates a new note. They are the bank lending to the buyer.
Yes.
Another key takeaway is sellers that are savvy enough to be agreeable to this type of structure are usually agreeable to good terms like two, four, six or something very, very reasonable.
Yes. And episode 174 was our live that we just recorded yesterday. And so usually I have two takeaways written down but I forgot to do that before we started recording.
So you and I are going to.
There was a ton, so we're gonna wing it. I'm gonna choose one and you're gonna choose one. I already have one in my head because I saw the blank space and I went, ha ha, let's just wing this one. So my favorite is going to be the refinance and the good news call we got from the lender. And if you don't know what that good news call was, you're gonna have to listen to yesterday's episode. What's your favorite?
Well, I'm gonna have to say mine's a combination of two.
Okay.
So last week, well, we were gone for three days at a mastermind. When we came home, someone booked a two day self storage summit for us to watch immediately after we got home. I don't know who that was.
Me.
Yeah. Thank you. And so while we were in my office listening and watching the self storage summit which we talked about that we always said that if a house pops up in Florida that checks all the boxes and that we really like, well, we'll jump on it and and so we jumped on a house. Well, not really jumped on it, but we sent an offer in almost. Almost immediately. And then we had to fly to Florida to walk the property and then fly back the next day.
Yes.
I really don't know what day it is right now.
It's been a week.
Yeah. So if you could leave a message below this and say, hey, flip, it's Friday, that'd be awesome because I don't know. I really don't know. But make sure you heading on over to our website, Freedom Capital Investments dot com.
Yep.
Yep. Because I. Yesterday in the live video, I had one of our new shirts on.
Yes.
And it said Invest Smart, Live Happy on it.
That's right.
And the guy that's laying on the.
Lounger with a drink in hand, that's me.
Yes, that was me.
Yep.
I posed for that. But yeah. So now we got swag on the website. Or it should be there. If it's not there now, it'll be there soon.
Yes.
But also make sure you're joining the investor club because I found out about a 16 unit that. And so maybe if I join the investor club, I'll find out about these things faster than these videos. Yeah. So make sure you're doing that. Make sure you're hitting the like button, the love button, the. The. The. The. The. The bell on notifications.
Y.
There's a new video or giving us reviews or whatever. But thank you very much for watching all of our videos. We hope that they're educational and fun. Hopefully too. But 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. It.
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