Ep 336 - Week 48 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 we just called Freedom through passive Income.

That's right. And welcome to another live, live episode. This is our week 48. Yes, week 48, that's Quattro Ocho.

Whatever.

Remember back in the day I was saying all the numbers in Spanish?

Yes.

Yeah, yeah. That stopped at 12. This is week 48, recap of Gee takeaways. And of course, it's fun shirt Friday.

And this is a new one.

This is a Christmas edition.

Yes. Christmas edition. So for those of you who are listening and not watching, Flip has a green and white go figure shirt on with the Grinch.

Yep. The Grinch is down here at the bottom and then his trusty dog up there.

Yep. Hanging upside down on your shoulder. Yeah. It's very, very cute and festive. That's right.

Thank you. It's the holiday edition.

That's right. Love it.

All right, so the the week recap and key takeaways Back to episode 330, how to Talk to your spouse about money and find common ground. Part four, the commitment. All right, so key takeaway is this is the final and most important phase of the exchange. Because you can ask questions, think about things you may have missed, and ask the question, can we both say out loud that we can commit to holding this responsibility by a specific date? This is the moment when we decide to take the first step in our joint plan, take ownership of our financial future, and hold ourselves accountable. We decide to prioritize this in our life and make time to execute now. The key takeaway is if there is a change or breakdown in the execution of the plan. We reach out to each other in a specific timeframe for support before taking corrective action. Some conversations that occur when the plan changes may be hard, but we know that by addressing them, we can right the ship and give ourselves peace of mind and build this healthy part of our relationship.

That is right. And episode 331. Scrap your goals for 2023 and do this instead. Key takeaw takeaway number one. As 2022 comes to a close, we are setting our targets for 2023. We use the word target instead of goals because we are aiming at an active mark that is ever changing. Each week, our team meets to share their progress and successes. In using our band board as a driver, we can see how our targets are changing. The idea is to move away from static towards elastic aiming. As an example, we had set a projected timeline for a turnkey project from beginning to end of 180 days as we have streamlined and adjusted our we are now reaching for a 120 day project goal. However, reducing our project time by a third in one fell swoop is not an achievable measurable. So we want to aim for 170 day goal completion. When we achieve that, we'll reach for a 165 day goal and so on. Always moving the needle in a realistic way, you can see how our objective for success is changing. Key Takeaway Number two By creating incremental targets, we can celebrate our successes as we take the steps toward our end goal. This makes the team happ and more productive and we can achieve our objectives faster. As you set your 2023 goals in life or in the steps you take toward creating a passive income stream that lets you live happy, remember that reaching your goals is not a race, it is a journey you should enjoy.

All right. Episode 332 Motivational Monday yeah, failure is not fatal. Key takeaway is you cannot allow failure or fear to stop you. People who avoid failure also avoid success. One thing that we have come to realize is that if we think of the small steps we can take in the direction of experimentation, we realize there will be a calculated there will be calculated failures along the way to reaching our goals. Key Takeaway Number two Sometimes you need to verbalize your goals and where you want to be. The power of words can be used as a motivating tool to help you reinforce the decisions you make. In other cases where you are making difficult choices, you need a mindset reset and might want to think of your progression as a learning game. This can bring enjoyment to the steps you are taking, relieve stress, Relieve stress and help you evaluate the outcomes of your decisions in an objective way.

Love it. Episode 333-333-3333 10 End of year preparation tips Key takeaway number one as we approach the end of 2022, we must begin to think about how to close out the old year and approach the new one. For this podcast, we're gonna share 10 things we do as part of our annual Key Takeaway Number two is those ten things summed up in like one line. Here we go.

That's a lot of lines.

Yes. First, we can all focus on our health because health influences our mindset and the stronger our mindset, the better we can serve our team. Second, you should begin organizing and preparing for the new year. It's time to clean up your desk and organize your files. Third, create a system for organizing transactions. Fourth, think about using a service like Verifile or Box to make to more easily share important documents. Fifth, work to keep things simple. Complex issues usually cause confusion and a confused mind says no. Sixth, leverage technology that can help you prepare. 7. Create a weekly time to work on your finances or face the issue of cramming at the end of the year, which leads to errors and omissions because it's too hard to remember everything. 8. Create a properly labeled documented storage system for critical digitized and paper financial libraries. 9. Meet with an attorney and accountant for record keeping requirements. 10. Make time to meet with your tax professional, attorney and financial planner. There may be opportunities to reduce your tax burden that you'll miss out on if you don't prioritize this before year's end.

Woo. I'm glad you got that one. All right, so episode 334 creating your financial priorities Key takeaway is from the professional standpoint. First, we need to ensure that we have the cash flow for operations and debt obligations. Second, we need to understand owner compensation. Third, equity partnerships need to be established within a tiered structure of payments to our staff and investors. Fourth, bank or lender requirements are a critical factor to consider. Fifth, tax minimization is the final consideration as we need to have a profitable business before we can consider reducing our tax burden. Always consult a tax professional regarding tax minimization. Another key takeaway is when we talk about financial priorities from a personal perspective. The number one item is to pay yourself first. The second important item is to divide or pay into buckets. For example, you need to determine your required living expenses, car payments, charitable donations, vacation fund and savings needs, and etc. It is critical to create a plan for financial priorities. If you need assistance in creating a plan to help grow your income, manage expenses, or assistance in helping to create a path to financial success, our team can help and we encourage you to reach out to us. We believe that real estate is a high return vehicle with stability, safety and lower risk.

Love it. And then Yesterday was episode 335, right?

Yep.

Okay, good.

At least I think so.

So 335 was our live and we discussed this right before recording that our two key takeaways was number one. We have over subscribed on the deal that we are raising for right now. We mentioned a little bit about it on yesterday's podc, but that's always exciting that the investors as soon as we have a deal, they're ready to jump in, ask their questions, determine if they feel like it's a good fit for their goals. And then we've done this multiple times where we're like, woof within a week. If not, there was one deal within 26 hours. We've raised over what we needed for that particular deal. So that's super exciting. Then the second key takeaway was that we have new partners already jumping in and talking to us about their deals. Them. I think we hit the pause button on just because it's too quick here for the end of the year for us to do everything that we want to do. And another deal is going to likely be the next deal that we do here at the very beginning of 2023. So we mentioned yesterday jump in our investor club because you have to be. If it's going to be a 506B, which we don't know yet, we're still in the vetting stages. But if it is, you have to be in our investor club to even learn about it. And if the legal paperwork is done and you join in our investor club after that, we still can't tell you about it because the legal paperwork is already finished and you weren't in our investor club beforehand. So that's the other key takeaway.

I think the third key takeaway is that everyone heard it. Danny said that they pressed the pause button. I didn't know you knew where the pause button.

I didn't know I had one.

Oh, and lastly lastly, the dog's name.

Oh, what is the dog's name?

Max.

Max.

It's been on my mind the entire episode trying to think what the dog's name was.

And you just remembered.

Yeah, yeah, it's Max.

Hey, Max, what's up?

Yeah, it's Max.

What's up, bud?

Anyway, we hope you enjoyed this episode. Make sure you're heading on over to our website, freedomcapitalinvestments.com tonight. Join that investor club.

Yes.

Make sure you're talking to Ben and or CJ to get all the information and to establish that relationship. But to get all the information about all the stuff we're doing to wrap up this year. And already we've got stuff going into next year. But we'd like to end all 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.

Sam.