Ep 294 - Week 42 Recap & Key Takeaways

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. And this episode is another live episode. This is our week 4:42, our recap and key takeaways. But of course it is Fun shirt Friday. Fun shirt Friday. That's right. Now, if you remember, last week I talked to you about the shirt that started it all.

Yep.

Because it was the second shirt and once it became the second shirt, therefore it became a thing. This is ground zero. Okay. This was a gift. It's got. And it's got Mickey and Donald and Goofy and they're all. They all got surfboards and. And this was a gift to me and I loved it. I wore it all the time. And that's why the second shirt, I was like, well, I got the one. I really like that one. So then I got another one and that's when it started. But this was. This is ground zero. This is the original fun shirt Friday.

I love it.

I blew off the dust. Yeah, there we go. Anyway. All right, so this is the. Our recap of key takeaw. Going to go all the way back to last Saturday.

Okay.

Episode number 288. Real Estate and building wealth is a team sport. Who is on your team? So the key takeaways. Building passive income through real estate is a team effort. There are many facets of our business that require a strong team. And there are eight key areas that we need to have on our team bus in order to grow our business. Wholesalers to help us find deals. Underwriters to determine if a deal fits our need. Lenders that provide us with funds. A network of investors who can also provide us with funds. Renovations to Renovations to rehabilitate properties so we can increase their value. Property management that can provide a stream of tenants. An accounting service that can help build wealth and manage our tax strategies. And asset protect to help us protect our wealth as a big bus. Anyway, another key takeaway is it is important to determine who is on your team. If you are missing any of the key team members, fill in those gaps. If you need assistance, whether you are an active or passive investor, don't please reach out to us to help.

That's right. And episode 289 is avoid the trap when passive income isn't truly passive. Key takeaway number one, what is passive income in real estate? For those of you who fix and flip, not only is this active income, but it has a ton of tax issues for buy and hold investors. You are still finding purchasing, renovating and managing properties whether they are single, family or turnkey. Key Takeaway Number two Funds and syndications are the most passive of real estate investments. While you always are reviewing potential avenues to invest your money, there's much less time spent on work after the initial decision is made to place your funds. However, you should continue to review the performance of your investment and ask questions when necessary.

All right. Episode 290 Motivational Monday the number one obstacle to success Starting that's Right Key Takeaway Many of us are frightened to take our first step investing. We prepare and are excited to take that leap and then talk ourselves out of it. This hesitancy, despite us doing all our research and preparation, can actually paralyze us. I was talking to somebody just about that just yesterday. Another key takeaway is when you choose to invest, you must remember you are taking a step to your own financial freedom. Your first action is making the decision to establish a passive income. That choice can be liberating and helps you take the next step of working with us. In a strategy session call, you can establish a relationship with us and outline the next step you are comfortable taking to reach your end goal. And as you reach the goal in every step of your plan, use the feeling of happiness or joy to take the next step. And so on. Just as the Great Wall of China was built one brick at a time, so is your freedom through passive income one step at a time. Thanks Joe. We talked about the Great Wall.

Oh my goodness. Episode 291 Dave Ramsey the Long Road vs the Short Road to Financial Freedom Key takeaway number one Dave Ramsey tells us we should create a personal budget and live below our means, which leads to financial free attempts to show that by implementing a long term planning method which includes saving money for 30 years of your life, you will be able to comfortably retire. We have a different view. Key Takeaway Number two Restricting your spending might actually limit your growth and give you a feeling of scarcity in your life. We are not espousing reckless spending, but believe there are four ways to help you grow and meet your financial goals. First, expand your means and increase your revenue streams. Second, learn how to reduce your tax burden. Third, cash out investments that have high fees or are underperforming. Fourth, when reducing debt, tackle the high interest. First, remember that rich people don't get rich by saving money. Remember, there are many ways to reach your financial goals and Dave's Ramsey Way is one. But open your mind to the possibilities and if you believe that we can help you on your journey to freedom through passive income, please reach out to us.

All right. All right. Episode number 292, how to Make $4,000 an Key Takeaway. Syndications and funds are two investment vehicles that are the most passive you can possibly get. And with just a few hours of your time, we can show you how to earn $4,000 per hour. Your first hour is spent having an hour strategy call with our team and attending a webinar. Your second one to two hours is time you spend reviewing the investment itself and reading the private placement memorandum. It's also called a PPM and ask all your questions about the fine print. Lastly, when you are comfortable, wire your funds and log into your investor portal account where you can track your progress. After you have invested, you will receive quarterly updates detailing the progress of your investment. You should take time to review these statements when you receive them. Another key takeaway is how did you make $4,000 an hour? Well, if we assume you had invested $100,000 in a five year vehicle with a 12% simple annual return, you will have made $60,000. If you spent five hours researching and planning your investment per year reading the progress updates, you will have invested 15 hours of your time to earn the $60,000 in returns. And $60,000 divided by 15 hours of your time is $4,000 per hour.

Boom.

At least still by my math.

And then yesterday was our weekly live progress update 293. My favorite takeaways of yesterday were the deal updates. So number one, what closed?

I think there was that little place in Daytona Beach. What was it? There's like a four unit, right? Or a 384 unit.

That's right. A 384 unit in Daytona Beach, Florida closed. We celebrated a little bit yesterday on our podcast, did a couple high tens and then the second favorite key takeaway is that we did identify another deal that we can close by the end of the year. So we're rolling our Lake Forest investors right into that one. They get first dibs and then our investor club gets second dibs and nobody else gets to see the deal. So you have to be one of those people to actually see the properties that we have. But this is the last property we're going to buy in 2022. Maybe I might be on the ship, but I might not be able to find one more. So this is definitely for sure one of the last properties we're going to buy in 2022. Why is that important to you? Because 2022 is the last chance that you're going to have for 100% bonus depreciation before it starts going down in 2023. So if you want to learn more about that or if you want to get in our investor club before we announce this deal and actually see what's going on behind the BEN&CJ a call and just go to our website, say, I want to join the investor club. Fill out the form, they're going to give you a call and they can tell you everything. And then suddenly, boom, you're on that secret private list that gets all of our cool, private, really secret deal stuff that we don't tell anybody else about.

Yeah, it's got a secret handshake and everything.

Anyways, we're super excited. So those are our two big key takeaways from yesterday's episode.

That's awesome. Well, we hope you enjoyed this episode. Make sure you're heading on over to that website, freedomcapitalinvestments.com to join the investor club. Very important to do now, especially with all the the super secret stuff that's coming out. Yes. So make sure you're heading on over and join the investor club. Make sure you're checking us out on all the social media platforms, but 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.