Ep 195 - Week 28 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 which is called Freedom through Passive Income on Location.

And actually I was going to say on Facebook. Vacation. We're on vacation on location.

That's right.

So. But welcome to another episode. We are on location. We're actually at the Sawmill Creek Resort up just outside of Sandusky, Ohio. We're actually in Huron, Ohio. But because we came up here to visit Cedar Point and Put In Bay. And I do have to say, for.

Those of you who are watching, you're getting another treat.

Oh, this is a good one too. This. We went to Put in Bay the other day and we were visiting some of the adult beverage institutions. Yes. That were everywhere. And this one is one of my favorites. Frosty's.

Yes.

And it's got a little engraved or not engraved, but embroidered. Yep. That engraved. That. But something.

Yeah, for sure.

But anyway, so it's embroidered Frosty Kwiski. You can't see it though. And if you're only listening, you're missing the bananas. Yeah, missing. I saw this when we walked in and I'm like, I must have that.

This is like a royal blue button up shirt. Very much like all of his fun shirts are almost always these nice button ups with bright yellow bananas all over it.

It is awesome.

He saw it at Frosty. He's like, must, must have, must have, must have.

I don't, I didn't even look at the price tag. I said, I'll take that. But anyway, so welcome to this is week 28 and I didn't even look up. I think the vinti Vinti ocho, something like that. Anyway, so this is our live progress. Obviously you know that we're on vacation and then the second we are closing on our house this coming week, next week. And they said the appraisal was going to come in by Friday and we actually got it last night.

Yep.

And go ahead.

No, it's. It.

I was very, I was pleasantly surprised.

Yes.

I'll just say that because I was expecting it to come in right at the amount of the contract and it did not.

So I'll spoil it. It came in almost $150,000 above our purchase price.

Yes. So that we, we, we bought some equity.

Yes. And Flippy is very, very excited about that. When he saw the house and he did the comps, he was like, this is a deal, we need to jump on it. And I was like, okay, let's do it. So I credit, I credit Flippy for the find.

Yep.

Yep. Excellent. Also, we have our asset manager, operations manager role that I had said. It's official. We are, you know, interviewing now. We've had multiple interviews. We've got some second interviews scheduled. I'm still scheduling some first interviews. So if you do know anybody that might be interested in this role, it is a hybrid role. We love it. If they were in Ohio, so they could work out of our main office with the rest of the team. But it doesn't matter. I mean, heck, we're working from Florida, so it doesn't really matter. But we're super excited to be getting that going because once that role fills, it's really going to elevate us to be able to be doing a lot more of the things that are going to move the needle for this company and the investing that we're trying to do. So super excited about that. Then the next two. I don't know. Did you see these on Google Chat?

I was, you know, occasionally I would go to Google Chat, just see if anyone needed me for something. And I kept seeing that this person just got hired and welcomed this person to the team. And I was just like, dang, what's going on?

Oh, no. What I liked about it was I'm like, we're on vacation and people are getting hired.

That's right. That's right. No, I love that. And then also, what just happened at the meeting the other day, I'll let you talk about that one.

Yeah. Two people won recognition awards. So every single month, a chat goes out or a message goes out into our Google workspaces and it says, hey, everybody, nominate your monthly recognition recognition award. And it's for peers to nominate their peers. And so Aaron, our CEO, even said right before he announced it, he goes, I always get really super excited when I'm reading all these nominations and reading the nice and great things that you guys are saying about each other. We are choosing the winners, but please, everybody share what you said about that person with them directly just to kind of spread the, you know, the appreciation of the group. Yeah. So just super, super excited. And we saw the winners and it was just, again, really, really fun to see the team and company. And we don't have to be a part of that movement. And it's still such a great culture. We're just incredibly. I'm proud.

Oh, yeah. I couldn't be more proud. And then I actually had to ask what this meant, but because I learned things constantly on these episodes just as quickly as you do the 16 unit redlined the purchase and sale agreement.

Yes. So again, while we're on vacation, got an email yesterday and it was from the seller's broker on the 16 unit that we're going back and forth on. We already have an accepted loi, but after an accepted loi, if you watch that episode, it gets handed to an attorney to draft the purchase and sale agreement. Well, when there's a seller and a buyer that are pretty savvy and or have representation, very often this can be a very long process because the seller's attorney is going to make some red line items where they're going to say, no, and instead I want this. No, and instead I want this. Oh, you forgot this. And they're going to insert. Then they give that red line purchase and sale agreement back to the buyers, and the buyers and their attorneys go through and go, no, I want this. Or here's our compromise. And it goes back and forth, back and forth until everybody's happy. And then finally everybody signs and it's executed and we get to move forward. So we just saw a red line agreement come from the sellers to us. And so Ken and Eric, I'm sure, are working on that now to review it, agree or counter, whatever that looks like. So that's always exciting to see that happen. And also, Ariane messaged me in Slack the other day letting me know that, hey, they're scheduling the due diligence on the new property in Mississippi. Mississippi, I believe that is state number 51.

There it is. There it is, ladies and gentlemen, Ms.

D. So they hadn't accepted LOI a while ago. And so she kind of let me know, hey, this is in the works. And they just scheduled the due diligence. She said, you can fly out if you want to. And I'm like, I want to, but it's right in our Florida house closing. Flip's going to be in flying to Florida, so probably not going to work, but maybe it'll work. But it's still exciting that we're getting to that next step of another large apartment building. So yay.

Yeah. And then lastly, the podcast that you recorded with Keith Weinhold for Get Rich Education. That's right, that just launched. Kasha just launched just a couple days ago.

Yes, on Monday. Yeah. And Jody and cj, they've been coming back to me with questions and apparently it got lots of great feedback, lots of great calls, a ton of people joining our investor club, which you all know@freedomcapitalinvestments.com because Flip reminds you every episode.

That's right.

So a lot of people have now joined and super, super excited because that was the kind of unofficial announce of the funds that we are working on getting done in the next 60 to 90 days. So that was the very first time we, like, publicly mentioned it. We've mentioned it privately to those in our investor club and maybe kind of hinted at some of it here and there in these podcasts, but we really laid out the details in that episode. So super excited that we're getting such great feedback. And now CJ and Ben are talking to people and really saying, okay, what do you like about this? What do you don't like about this? Because over the next 60 to 90 days, while we fine tune it and launch it, we're going to be making sure that we're listening to our investors like we always do and making sure that it really, you know, jumps off correctly.

Right. I had to think about, you know, the red line, the attorneys going back at each other. It's because, see, I personally would never have been a good attorney because I like to walk in the room and be the dumbest guy in the room, whereas attorneys like to walk in the room and be the smartest and try.

To annoyingly prove that they're the smartest guys in the room.

Not all of you. And I love our attorneys. Wink. But make sure you head on over to our website, freedomcapitalinvestments.com and join our investor club. And that's when you're going to learn about all this stuff. When I learn about it. But. And also, we've got the swag in there, so take a look at that as well. And again, we don't make any profits off of any of the swag. Everything goes to charities. So just making sure that you know that we're not making any money off of any of that. 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.