Danny and Sam from Freedom Real Estate Group report on their 16-unit deal and contractor chaos. Landscaping bids ranged from $425 to $26,500 for the same job. They signed with a new accountant to get their finances in order.
Week 32
Florida
Approximately $425 (low) and $26,500 (high)
From $0 to $10,000
16-unit documents
Hey, everybody. Flipping Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our.
Live, live, live podcast called Freedom through Passive Income.
I was trying to throw you off.
Yeah, and you did a little bit like you usually do. The live, live, live afterwards.
Anyway, Welco episode. This is our week 32.
That's right. Trace Dos coming to you from Florida.
Where it's a little warm. That's it. Middle. Middle of the day. We open on the door. It's like walking into the mouth of the dragon.
Yeah, that's right.
Welcome to this is week 32 live progress update. And last Thursday, we were in our hotel room. We were just getting ready to get back in the car to drive for another eight to 10 hours from where were we? Chattanooga.
Chattanooga, Tennessee.
That's right down here to just outside of Orlando. And that was. That was a long day. Yeah, that was a long day. And we learned, though, that once you get into Florida, the mile, the. These speed limit signs, they're optional. Yeah, that was fun. But anyway, so now we're here. We got in that evening, Thursday evening, and I've been meeting contractors ever since.
He has. It's been crazy.
In fact, I met one already this morning, and our AC guys are replacing one of our ACs right now. Yes, it's lovely.
With another AC being replaced next week on Tuesday. Tuesday.
It's lovely.
Our pool contractor, was he just. He was just here, or is he here now?
He's outside.
He's outside right now. Yeah.
Have you ever seen the movie the Money Pit? Where with Tom Hanks.
This house is not a money pit.
No, no.
There's just a lot to do.
There's just a lot to do.
There's a lot to do.
But anyway, the. The bid discussion. We were talking about this last night. You actually posted on Facebook about it.
Yep. Yeah. So the contractors are no different here. And sorry for the dogs. We have the dogs in this room because there's contractors in the rest of our house.
So say, hi, Bailey. Hi, Bailey.
You're getting the benefit of. If you're watching, you might be actually seeing Bailey in front of us, and I'm trying to pet him and keep him calm while Rosie's over here by the door. She doesn't like being locked into rooms, so you're gonna hear her growl from time to time. Anyways, so contractors are no different here in Florida. Probably a little bit worse because the prices are just even more expanded on the high end. So I just posted last night on Facebook about two examples and one was the landscaping. Your lowest bid came in at like, 425. Your highest bid came in at 26,500 dol. And mind you, this is for the exact same scope of work. He told them both exactly what he wanted to have done, asked for, you know, their bid and what they would do. Then the other one was foundation. So there's a small stepping stone crack inside of the house, and we've got a sprinkler that's broken in the back of the house, causing you a little marshy effect. And so we're just being cautious. We know you know instinctively, based on having a renovation company and being in the real estate game for so long, instinctively, we know everything's okay and we know what to watch for. But we're in Florida, brand new state. We just want to get to know the contractors. We want. Hello, Rosie. We want other opinions. Rosie, you want to come say hi to everybody over here? We wanted to get other opinions. And so the bids on there range from 0 to 10,000.
Yeah.
And I think the big takeaway was last night. At least what I put on the Facebook post was just knowing who the honest people are. Because even your punchless guy, this morning you came in and you said, hey, I think our garbage disposal doesn't work. This. This particular sink isn't draining. He said, oh, it's probably what he said.
He goes, do you have an Allen wrench? I said, I've got plenty. He goes, ah, just give me an Allen wrench. I'll fix this up for you. And I gave him an Allen wrench. I went to say something to you, and I came back and the disposal was working. And he goes, there, that'll clean things up for you.
And that's what we mean by honest contractor versus the person that's going to take advantage of you. Because the foundation guy that came out that says zero is the guy that walks around the house and goes, this is a house from 2007. This is normal settling. Here's the things you should be watching out for. You don't need to spend any money. The guy who wants to. Wants to charge us $10,000 is walking around going, hey, if this is my house, I'd be doing this and this and this and this. And he's just trying to get us to pay him money for stuff that we don't have to do. The landscaper, same thing. You need to cut down this tree and take out these bushes. You know, all of this is going to affect, you know, your this and that. Whatever. All of this, we can't match it. It's going to look horrible.
So we're going to need to replace everything, everything out and put everything all in new.
Yeah. Another one of the bids is just like, oh, no, we can do this. We can match this this year. Oh, it's all fine. You know, we can do this. Here's some. Some options. So anyways, it's been. It's one of those lessons that everybody should know and learn, and we're just getting a fresh experience of it here at our own house. Hi, Rosie. So you already talked about the contractors that are here.
We've.
Of course, you guys know where we're dealing with our dogs on this podcast, because you can hear Rosie and you might be able to see Bailey if you're watching on. And right now we're supposed to be unpacking the kitchen.
How's that going?
Yeah, it's not good. We have not started. We actually haven't finished the master from yesterday.
No, no.
Because the contractors are just causing a little bit of crazy. Crazy.
Yeah. But meanwhile, there's actually things that are happening in the real estate world.
Yes.
Which I did not know about.
I was sitting here right before recording, going through. Here's all the things. Did I miss anything? And he was like, I don't know what's happening in the real estate world. You usually tell me on this podcast.
I usually learn on this podcast, on this episod.
So Joe is catching on fast. He actually just sent us through the recap episode. I sent partner introductions yesterday, introduced him to all of our partners. I've already given him a task this morning. I told Jody, I said, oh, you know this email right here, I don't know it. Anyway, I would have had to done all the research to even check it. Have Joe do it. And so he's just fantastic and I'm so, so grateful. And then 16 unit docs came in yesterday. I printed them out and reviewed them today. Initially got them back to Ken. So super excited about that. It's progressing towards closing and our financial transition. Hi, Ms. Rosie. Our financial transition. We signed a bunch of engagement letters with our new accountant. And so we're super excited to get that rolling because we're going to be able to have everything under one house. And I think we've talked about that before. So that's kind of our update for this week. It's a little bit crazy. You are really seeing into the lives of Flip and Danny and all of the craziness that goes with it.
I don't know much that's going to change in my life for the next week. So we can just play this one again next week.
There you go.
Well, awesome. Well, we hope that you enjoy this live episode. Make sure you head over to our website, freedomcapitalinvestments.com to join our investor club and see all the things that we're doing behind the scenes and all that. But of course, we're on all the other social media, Facebook, LinkedIn and all the whatever those other ones are. But we always like to end all of our episodes with Invest Smart, Live happy. Bye.
Bye, everybody. Sam.
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