Flip and Danny recap lessons from six prior episodes: wholesaling worked best in their market, turnkey investing requires active management, rehabs succeeded after hiring the right project manager and paying contractors weekly, and acquisitions improved with a direct-to-owner pipeline. They accepted an LOI and are hiring an asset manager and operations manager.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another live, live, live episode of our podcast, which is called.
Freedom through Passive Income.
That's right. And this is our week 26 live weekly recap and key takeaways.
Yeah. And it's fun shirt Friday.
Yes. And it's because 4th of July weekend.
Yes. There we go.
I was like, do I have anything patriotic? I think this one will work. But this is 26, week 26. We are halfway.
That's right.
There we go. So this is the week recap and key takeaways. So Back to episode 176, our journey. Our journey. There we go, Sarah. Episode six, wholesaling key takeaways. We found out that sub two wraps were a PETA. A pain in the arse to close in Arizona. I like that. Pain in the asteroid. I like that.
Asteroid.
Asteroid. But wholesale deals were easier to close. Location and market play a big part in deciding which REI strategy to pursue. Another takeaway is our big aha to wholesaling came when we found the three biggest buyers in the area and sold all of our deals to them. Any buyer that will perform and will close is worth their weight in gold.
Yes, sir. And episode 177 of our journey, episode seven was about turnkey real estate. Key takeaway was being a turnkey Investor is not 100% passive. You will still need to be involved in making decisions occasionally, even if you're not managing the day to day. A lot of people don't realize that. Key takeaway number two. All of the different strategies and deal types that we've done gave us the experience and knowledge to recognize the that turnkey real estate was a great fit for us.
Yeah, like I said, it was like the peanut butter and the chocolate. Yes, you put your peanut butter and chocolate. Anyway, episode number 178, our turney. I only get a couple more times to say this. Episode eight, renovations. Oh, boy. The hair on the back of my neck just stood up. The needle movers in developing this company were finding the right project manager for what we needed and creating a set of property standards for the rehabs, which we call the Big Mac.
That's right.
And not because it's like a Big Mac, but it's the McDonald's. The standard. No matter where you go, it's still a Big Mac. Anyway, another takeaway. You like?
Yeah.
Now I need to go get a Big Mac. Another key takeaway is we pay our contractors each week no matter what. And our real and we are a reliable source of work for them. In return, they prioritize us and reciprocate the loyalty and dependability we extend to them. Yeah, I like that. They're like, yeah, Bulldog always pays.
Yeah, we've got a good reputation. I do like, like that. Episode 179 of Our Journey was episode nine of that series and we talked about property management. Key takeaway number one was property management is not the road to riches and glory. It is not a huge profit center and oftentimes a thankless industry. Most successful property managers do it because they truly care and are servant leaders. Ain't that the truth.
They're weirdos.
Yeah. Chris.
Just kidding. But not you, Chris.
Chris, we're talking about you, man.
Yeah. No, no.
And the servant leader part. Not the weirdo part.
Not the weirdo.
Key takeaway number two. No one will care for and manage your property like you. If you don't have the time or desire to manage your own properties, find the best and let go of the rest.
Yeah. Episode 180 Episode 10 Acquisitions.
Yes.
By my calculations, I only have one more of those left, so I wait till that one comes up. That'll be next week. Acquisitions Key takeaway. Our primary source of deal is dried up, so we created our own pipeline and went direct to property owners who wanted to sell. We still work with wholesalers, but now we are not completely dependent on their inventory. Another key takeaway is we didn't have a ton of capital when we started building this company. So the sales team was compensated based on deals closed. You got to make your money.
That's right.
Eventually, compensation packages adjusted. You can be strategic on how you build an acquisitions company.
That's right. And then yesterday, episode 181 was our weekly live where we give you an update on what happened in that week. And the two takeaways we chose was number one. We got that loi accepted and there was multiple Lois. So we were super, super happy that we got to the top.
Yeah. It was down us and like one other or two others or what was it?
I think it was. There was. There was four Lois that all came in at the same time. Two of them were. It was us and somebody else. And so I think Ken and Eric had a conversation with the broker to figure out how they could rise to the top. So. And they did it.
Yeah.
Super excited.
Talk to the family.
And then also another key takeaway was that we are hiring an asset manager and operations manager for Freedom Capital Investments. And I'm super, super excited because we've needed that help for a very long time. And finally we're at the point where we can make that LinkedIn and indeed has got applications coming in. And I'm super excited about it.
And we did talk about it yesterday, but the swag. Danny's got a different shirt on today at Perseverance from Freedom Capital Investments. And, you know, I got to thinking, it's fun Shirt Friday, so I couldn't wear my swag. I need fun shirt Friday swag. Oh, I gotta get working on this.
Yep, yep, yep.
Yeah, that's gonna be.
That's interesting.
Gotta think on that one. Anyway, so make sure you're heading on over to our website, freedomcapitalinvestments.com to not only join the investor club, but also to check out the swag that we have on there. And again, we don't make any money off this. It's not a profit center. In fact, all of the anything that's above cost all goes to ch charities. So it's not for profit or anything like that, but it's just there's some fun. Just some fun shirts. Fun stuff.
Yes.
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.
Sam.
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