Ep 239 - Investing "F" Words - Part I

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. That's right. And welcome to another episode. This episode is called I love this. When I first saw this, I was like, yes, we get to swear. This one's called Invest F Words part one. I'm looking at you, Tanya.

So I was reading an email and that kind of tied into this as well. And I thought, oh, this is really, really great because it really, it talks about part one and part two is going to talk about two separate types of personalities. And we talk about personalities and investing a lot. And so. And maybe not a lot, maybe not often enough, because it's really, really important to understand who you are and the types of investments that are right for you. And so the very first F word is fomo, which stands for fomo.

Fear of missing Out.

So this first F word is the aggressive type of personality, the one who's a little bit careless. Yeah, Right. So in this type of investing personality, you're watching other people do things, listening to them. You could be listening to these podcasts and you could be hearing us talking about, hey, we're doing this, we're doing this. And ooh, we just made this much money over here. And ooh, we just made. And suddenly you're just like, oh, you know, this is happening and I'm missing out on it and I'm just going to throw some money at it without doing my research. So that type of investing personality will typically watch people go into crypto, go into a certain stock, go into trading of some kind, go into, it doesn't matter. There's so many different things that you can invest in. New venture capital, you know, franchises, whatever it is. You see something and you're afraid you're going to miss the bus because you've seen millionaires be made through things like this. And so you throw money at it without doing any research.

Right.

It's one of the worst styles of investing you could do. You're literally the person that's probably going to lose your life savings. Everything that you've worked for, the relationships around you that you've built, especially if you're using anybody else's money besides your own, your spouse is going to be really, really freaking angry with you if you didn't take them along the ride and the decision making process. So it's just, it's one of those things that you, you need to make sure you're in the middle ground. It's what we're talking about in the next two episodes is the aggressive and the super conservative. And our admonishment to you guys is to find that middle ground. That middle ground is research and establishing relationships with. With people who are going to educate you, answer your questions, allow you the time you need to be able to answer those questions without delaying it. We're going to talk about that in again, episode two. Both of these are bad. What do we call it? Investing F words. And I think I was going to say that you want to avoid. Because you don't want to be the aggressive and you don't want to be the conservative. So fear of missing out is not a good thing. If you see something that's crazy and somebody's making millions, don't go dump your money in unless you've got money to burn. That is the only time I think Flip and I are going to say, throw your money at something we don't understand. Crypto. No, we invested in crypto because we said and had a conversation about it. We have this bucket of money we are willing to burn in case. This is stupid, but we were trying to have a shot at glory in case crypto was a thing to go in. So we had this. I don't wanna miss out on crypto. So we had it. But we were intelligent enough about it that we said, this is the bucket that we're going to use and we're okay if it doesn't make it. Because we actually sat down and have a conversation beforehand.

It started to burn the second I put it into crypto.

It did.

Yeah. And in fact, it's been so long that I forgot actually how much money we actually put in. That's sad.

It is. He'll check his phone, he'll go, I think we're up. No, I'm really not sure.

No, we're not. We're not.

Oh, it's stocks that are up.

Stocks are up. But we're crypto's way down.

Way down.

Way down.

Yeah. Yeah.

But, yeah, it's the whole. You see, And Facebook and social media is horrible for this because there's one group on Facebook and it's for wholesaling houses, and it's just nonstop people posting checks. I just got my first check. I just did this. I made $30,000 on this property. This is the easiest thing ever. You don't hear about all the other stuff. You don't hear about all the struggles. Yeah, that guy might have just got a check for $30,000, but that was check in 10 months. You know, you don't know all those. And so you just think that all these people are making money hand over fist and it's, it's horrible. And the social, social media platforms are not all of them, but most of them are very bad about. It's. That's one thing I don't like about social media is because all you see is the good.

Yeah, yeah. People call it the highlight reel.

Yeah.

And that is really true. Like I always kind of got a little bit discouraged about even making good posts because I was like, oh yeah, I guess I am posting the highlights and maybe I need to be more like, okay, here's the bads. And so we try to do a balance. I used to do a much better job of the balance because I was so more involved in the business that we had so many bads. I was like, let's post all the bads. Cause this is crappy and people need to know, like, this sucks sometimes I don't do it as often because we've leveled ourself up so much that I don't experience the lows as much as we used to. Thank you, Lord.

Yes, thank you.

But I do love the people who do post and just say, hey, we just closed on this multi million dollar property. Like this 13 million dollar property. Here is the story of how we got there. And literally like a, you know, it took us over a year. This happened, this happened. So it's nice to kind of see all that. But the real point is, is that ask the questions or identify the amount of money you're willing to burn without losing your spouse, your money, your savings, your relationships, anything like that. Because it's easier to be in FOMO mode with social media, to your point. And nothing is in life is easy. We have tried so many different things, different industries. We've just dabbled in everything, Fell in love with real estate. That's why we're here and we're here to stay. Because this is really our passion and what we love. And this is where real true wealth is made. Not as a shotgun. It's like just proven. If we just stay consistent, we will become wealthier and wealthier over time. And so this is the path we've chosen. But there's so many things and none of them were easy. We would make a quick buck here and a quick buck here, but nothing was sustainable to build the wealth that we wanted to create. So it's so easy to watch somebody else and think, I can do that and then lose so much money in the process. So that is a bad investing F word.

That's right. Well, it goes back to what's the one thing I always say? If it was easy, everybody would do it. That's right. Yep, that's right. Awesome. Well, we hope you enjoyed this episode. Make sure you're heading on over to our website, freedomcapitalinvestments.com to join our investor club. We also got the swag and stuff on there, too, just in case. But check us out on all the social medias. Avoid all the people showing you their checks and how good their life is. Go over to our stuff.

Yeah, actually, this is what's really important. This is actually the correct call to action for this particular episode. Right. Is because we just said no fomo. So don't look at us and go, oh, I need to jump in. You join the investor club. That's how you get educated. Right. So this is how to avoid fomo. Join us. Let us educate you. Let us answer your questions. Because once you're comfortable with it and you understand it, that's when you should invest.

Absolutely. Well, we like to end all of our episodes with Invest Smart, Live, Happy.

Bye, everybody.

Nothing on the 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 the show are not guaranteed. All investment strategies have the potential for profit and loss.