Ep 41 - Week 6 Live Progress Update

Hey, everybody. Flipping Danny here, founders of the Freedom Real Estate Group family of companies, and welcome to one of our live, live, live episodes of our podcast called Freedom through Passive Income. There you go. And this is one of our live episodes. This is our week six.

Yeah, I know. I can't believe it.

I had to look it up because I was like, wait, no, this is week five. No, that was week five of last week.

Yes, yes, I know. We're getting there.

Dos Trey, Cinco, 6, 7, 8. Yeah, this is week six, live progress update, and it is February 10th of 2022.

That's right. So one of the cool things that. Actually, one of the not so cool things that. That happened this week, but it's part of business. We don't want to always talk about just the wins. We want to talk about the losses, too. And this is even. Isn't even a loss. It's a struggle. So we've got this 129 unit that we were supposed to close in January. We're general partners on it with some friends of ours. And the seller is not getting their financials to the lender. And so it's continually delayed. And then the seller wants to negotiate a certain, you know, another thing. And then the lender asks for something, and they want to negotiate with the lender. Fannie Mae, of all things, like, as if you could negotiate with them, which you can't.

Yes.

So it's been kind of frustrating because we were supposed to close last month, and now it's February 10th, and we're just like, okay, are we going to close anytime soon or what's going to happen here? And so it just keeps getting dragged on and on. So we are really hoping that financials would get to the bank today, but we're just not. It seems like they're still trying to negotiate.

Yeah. And actually, you know what? I thought about this while you're saying this. I'm going back to the Rolodex. Of all the deals we've done, I think one of the key things you need if you want to do multifamily is patience.

Yes, 100%.

Because every deal takes forever to close.

Yeah.

Well, until Danny gets mad and she says, I'm going to close in two weeks. Closes in two weeks.

At least I could control it.

Right? Yeah. Yeah, you were in control. Yeah. But to date me, it reminds me of that song Anticipation anyway, because you're like, yeah, we're going to close now. We're not going to close. Yeah, we're going to close. No, we're not going to close, so. But it's not dead.

It's not dead.

It's just delayed.

That's. Yeah, that's why I say it's not a loss.

It's just.

It's this week's struggle.

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Yeah. So again, and then we talked about the 48 unit that's actually close by. We did walk it a few weeks ago. We're in negotiations right now. Yeah, we're gonna be walking it again this week and next week to do some more. Just more inspections. Yep. But again, not dead. Not. Not yet.

Yeah, it actually seems promising. That seller is pretty motivated.

Oh, those are my favorite sellers.

And we're pretty far along in the process. So he's really kind of tied to us. And he likes Della. Della is the point of contact and just doing a great job.

That's great.

Yeah.

I think she posted. So I don't mean to go too far on this one, but she talked about. It's not about the deal, it's about the relationship.

Yes.

Because she's building such a great relationship with the seller. That's. That's.

Yep, Yep. She does a great job. Another thing that happened this week is we did a legal audit. So we didn't get.

Yay. That was so much fun.

We didn't get audited, but every now and then we just do an audit of financials or legal documents or anything like this. This last week was dedicated to legal stuff. So as we built out Freedom Capital Investments and we started doing the syndications and building funds and all of that. It was a learning process, and we're still learning. Every now and then, our attorney throws out a word and I go, what is that? And so we just went through all of our docs and our PPMs and everything just to make sure everything is in order and organized and. Got it. Over to our new CPA who's handling all that for Freedom Capital Investment. So that was a process that kind of stopped Everything else had everything had to be put on hold just to be able to focus on that. And that's a part of business. Right. It's not always, you know, the fun of going out and getting deals and closing on deals and sometimes you got to do, you know, the real high level.

Right.

Overview work.

Was that word that he asked you, was it hitherto? I'm trying to find out what that one means. We actually got some new jackets actually. Danny sporting hers today. Freedom Capital Investments. Look at that right there. But we actually, we worked with a company here, local and we got the guys that are out in the field, we got them Carhartt jackets, you know, that are, that are actually embroidered, which is not something easy to do apparently.

Right.

Carhartt jackets can break needles.

Yeah.

But anyway, so we got them jackets. We get. Well, we got the whole team jacket.

Yeah.

So they just came in this week so super excited. Everybody's wearing their swag.

I know, it's cool. We're looking at everybody. And then yesterday we were visiting our CEO before we left for the day and he happened to be looking at financials and numbers and just kind of doing some calculations based on what we did last year and what we're doing this year. And we learned that we anticipate to have a record breaking quarter one this year.

There's that word again. Anticipation.

So I was really especially happy because, you know, bringing a CEO on board, it's really nice if out of the gate they can see, you know, some really great progress and have a win. So I'm really thrilled for Aaron, I'm thrilled for the company in general and just knowing that, hey, you know, nothing really. There was no hitch. It just kept on going. So super excited about that.

And then the last cool thing, we're over 2,000 downloads. I can't believe that we. I guess I think we're like 1400 downloads for the month of January. And so we're ready at over 2000 downloads. So it's cool. We're so happy. That actually means you like us. But again, make sure you're sharing the podcast with us, with your friends and family, everybody. It's good for everybody.

Yeah. Anybody? It'll help.

Yep, absolutely. So if you're watching on YouTube, make sure you're hitting the subscribe button. Give us a five star review. If you're on podcast, Apple podcasts, Spotify and the 95 million other platforms you can listen to podcasts on. But also make sure you join our groups in Facebook. Facebook.com/groups/freedom through passive Income. That's right, and the same thing with LinkedIn, but it's not the cool URL. Just go to the search bar and.

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There you go. But again, make sure you're joining our groups. Get in there, talk to the guys. The whole team's in there, guys and girls. Yes, sorry, Della and Carrie, make sure you're talking to the girls as well. But you know, get in there, ask your questions, don't be shy. It's a great place to do that. But we always like to end with invest smart, live happy. Bye, everybody. Hey everybody. Flip and Danny here, co founders and founders in people at Freedom Real Estate Group. 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 or loss.