Flip and Danny recap seven episodes on real estate investing fundamentals: property classes, single-family versus multifamily deals, building a team, and rolling a 401(k) into a self-directed IRA. They share a week-seven progress update on their own investments.
February 18, 2022.
Episodes 43, 44, 45, 46, 47, and 48.
Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another live episode. And this is our podcast, which is.
Called Freedom through Passive Income.
That's right. Then this is one of our live episodes. This is week six, recap and key takeaways. This is February 18, 2022.
All right, so on Saturday, it was episode 43. We were talking about 43. I know. Classes of properties in real estate and which one is the best. So we talked about for a key takeaway number one, we talked about the two types. So there's not only classes of properties, there's classes of neighborhoods. So for example, you could have a D property in a B neighborhood. You could have A, A property in. In a C neighborhood. So that's important to know when you're looking at a property to determine the class you're going to be looking at the age of the property and the condition of the property. If you're looking at a neighborhood to determine the class, you're going to want to want to be paying attention to the amenities. Crime, tenants and owner occupant ratio.
And then episode 44 was the best books that helped us on our road to success in front of our gigantic library. So make sure you check that out. Her key takeaway was her book that she talks about. I saw Daily who not how and then the Gap and the Gain both were very instrumental not only for her, but also for me because I get to hear about it all day. And mine was extreme ownership. Watch yesterday's video. I had Jocko my good, good shirt on. But extreme ownership that affected not only me and her, but also our entire office company because we read it as a group and then think and grow rich and three feet from gold. Again, the story that' really impacted me since the day that I read it and I'll still remember the day that I read it, I was just like, oh, my gosh. And so we always talk about that. All right, everybody, if you're watching on LinkedIn or Facebook or YouTube, this is your chance right now. And you see the like button right here and you see the heart button right there. This is your chance in the video to these buttons, make sure you hit that heart button. Make sure you hit that like button. If you like what you're subscribed seeing and if you, if you enjoy what you're watching. But this is your chance right now at.
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Yeah. So again.
Yes. Okay. Episode 45 with single family versus multifamily. This is a topic that is covered so many times because it's a question that's always asked by people. So key takeaways for that one was we talked about the pros of each and the fact that we do both. So the pros for single family that I'll point out was the price point and you have a bigger pool of buyers, especially when you're getting ready to exit and sell that property. The multifamily pros was economies of scale. You never have 100% vacancy because you have more than one door and forced appreciation. So it allows you to create the appreciation as opposed to depending upon the market.
You must appreciate episode 46, importance of a great team. We talk about this quite a lot. Key takeaways. Hiring is the biggest challenge. So that's very key. Can spend way too much money on hiring because you waste time. Another key takeaway is core values and grit.
I put for the thumbnail grit required.
Yes, that's true. That's true.
You have to be able to work with people who understand that there's ups and downs in business and there's gonna be some really, really tough times. And no matter what you're doing, you have to be willing to get through it. So hopefully you're doing something you love.
And that goes back to three feet from gold.
Yes. Episode number 47 is the truth about 401ks from a retired financial wealth manager. We had Carrie Parrott on with us, and so she talked about 401ks from her experience in the world. So the key takeaways for me were, number one, to change your 401k into a self directed IRA SDIRA. Yeah, s D I R A. And then key takeaway number two was to take control. Because 401s, you have limited investment choices, high fees, and less control and therefore moving them over to something where you can choose exactly what you want, which for us is real estate. Because of the safety and the higher returns, you can do that once you move it over. So I thought that was a great episode.
Yep. And then Yesterday was episode 48. Today is 49. And then. So yesterday was our week seven live week in review, our progress update. So two key takeaways were we're at over 2,500 downloads and over a thousand YouTube views, which is huge because we never saw that happening. And then another One funds. Danny went on and on and on and on and on.
It was a little longer than usual.
I'm just kidding. But the funds, the fund of funds and then there's the fund of fund of funds and then the fund of fund of fund of funds. And so, so anyway, so that was a key takeaway from yesterday. She goes more into it. You'll have to watch that if you have not watched that one yet.
Yes.
Well, we do like to try to keep these as short and sweet as possible. Not like yesterday's. But make sure you're checking out our groups. We're Facebook, Facebook.com group freedom through passive income. And then we're in LinkedIn. We got a special group there. Make sure you type it into the search bar there. If you're watching on YouTube, make sure you hit that subscribe button right down there. Yep, hit that button. And then if you're listening just to the podcast on one of the multiple platforms that you can listen to our podcast. Thank you for listening. Give us a five star review. Let us know how we're doing. Let us know. But make sure you're interacting with the team in the groups. You know, ask questions or whatever. Cause that's what they're there. But again, we always 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 or loss.
RA.
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