Ep 55 - Week 8 Live Progress Update

Foreign.

Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another live, live episode of our podcast.

And their podcast is called Freedom through Passive Income.

That's right. And like I said, today's one of our live episodes. This is our Week 8 Ocho. Our Week 8 Live progress update. Today is February 24, 2022, and it is absolutely ugly outside. If you live in Ohio.

Yes, it is.

It doesn't know whether it wants to rain snow or freezing rain. And then I think at one point it's doing all three. So lovely.

Yeah.

Yes. So here's some. Some progress updates. We have over 1500 YouTube views. That's great. So if you're out there watching on YouTube, just keep watching. Make sure you hit the subscribe. And we just checked before we came in here, almost 3,000 downloads. We got 26. So, mom, just keep hitting the download. Just keep downloading. Like I said, just keep downloading. So. So that's super exciting.

And then another thing that we did this week was a big deal. Cause we've been talking about this on our lives every single week for like the last three or four weeks. We got the LOI sign for the 48 unit.

LOI? What does that stand for?

That stands for letter of intent.

Really? I don't think we touched on that one the other day.

So I wanted to say a huge congrats to Della. She's one of our acquisitions team members and she is the one that has been doing all the work on this property. And this is her first one to get under contract for the team. And so I'm really, really proud of her.

Yeah, she had that seller on speed dial.

Yeah, she. It was a direct to seller opportunity. So that's nice. That's one of the reasons why it did go through. You're always going to have more opportunities when you are direct to seller. It was referred to us by somebody that we knew referred us to somebody else. And that person then told us about this property that they were looking at to buy, but they decided not to buy, and so they offered the lead to us. So those relationships and that network, it's super, super important. The timing is a little bit crazy because we are leaving on Monday morning for Mastermind in Utah. We're coming back for. We fly back in on Thursday. So we are back home Friday, Saturday, Sunday. No, Friday and Saturday. We fly back out Sunday to go to Cancun.

Yay. For a vacation.

For a vacation that we're going to be working through.

Yeah.

Which Is fine.

Yeah. Where are you? I'm at the pool.

I'd rather have a 48 unit and working on it during Cancun than not. So we might have our phones at the poolside.

I think. I think the bittersweet was, is when we found out that Voxer works at the resort that we're at in Mexico.

Yes. I actually had that as something I was going to talk about was the power of Voxer. Right. Is because there's going to be while we're at the Mastermind and while we're on vacation, sitting at a computer, to be able to write everything out and explain things in great detail is not going to be easy. So what I told the team and we're meeting with them at 1:30 today is everybody get Voxer or one person get Voxer. Because you're going to ask. Everybody's going to be asking a ton of questions and we're going to be in the middle of a Mastermind and on vacation. So the easiest thing for us is for you to shoot the question out. We're going to tell you via Voxer and give you all the information you need. And either you guys consume it that way or somebody is in charge of writing all that information that we give them via Voxer into an email for the team to hear. So that way things can keep on progressing. But Flip and I can do our best to be present at the Mastermind and be present on vacation with each other.

Yes.

It's going to be. Yeah, it's going to be fun. And the thing is, it is forcing us over these next few days to get as much done as possible, build up, process docs, train anybody that needs to be trained. So some of those things, even though you feel like, ah, the stress and the overwhelm, it's huge because you just, you're forced to do something faster than you normally would.

Yay vacation. Yay for you did exactly, exactly. Another thing we did, if you follow us on Facebook, you would have seen a post from Danny from this last week. We actually hired a concierge health and fitness coach. And this is big for us. You know, I've always like, I always like to joke around. I say, hey, I lost £50. Unfortunately, it was the same £5 10 times. But you know, but this, it's, it's great because they're going to be really controlling everything that we do, no matter where we're at. If we're, if we're out of town, they can set up going to a gym and, and what what meals to eat at a restaurant, if we're going to a restaurant. And so it's really going to be great for us because we've. We've wanted to focus on it for a long time, but just haven't had the time. And now we're making the time and we're having somebody else be accountable other than us being accountable, because we're the. We are the worst accountability partners.

It's okay.

Yes. You can go ahead and have that donut, honey. Wait, no. That's what you say to me.

I'm saying, how do you eat donuts?

So we're looking forward to that. That's starting. Thank goodness. That's going to start after we get back from canc.

We did that on purpose.

Yep. And then also a huge thing this week is we signed all of our estate planning docs. And this was huge because this was. There was a lot of docs assigned. Yeah. And so now, you know, everything's put in place. We even had an episode. I'm not sure if it's aired yet. About. Yeah, actually, I think it is about making sure that you put everything in place so that when you do die, you know, you're not leaving a big mess for your family or whomever. So we got all those signed breath of fresh air.

Excellent. And so we also had a financials meeting. Randy was in town, so we sat down with him and Aaron and you and I and Tina, and we had a financials meeting. It was really talking about debt retirement. So as all of these companies have grown, we've had to borrow money to keep them going. New entities actually borrowed money from profitable companies to start building. And so it's been a road, a long road to get where we are today. And there's lots of ups and downs and roller coasters. And so we were looking at our financials, and we love financials meeting because every time we met with Randy, it was like, oh, that much better? Yeah, wasn't that much better? And so it was really exciting to get to revisit this process after we hired a CEO to see, hey, how are we doing now that the CEO has come in and taken over? And so that was just nice to be able to not put your head in the sand ever, no matter what position that you're in, always being aware of where you're at and constantly being proactive about working on making sure that the company's okay. So that was great. And then the other thing that we're working on this week is acquisitions. Our turnkey company man, it's a hot market right now. Everything's selling. Sellers are unreasonable in terms of what they think they can get for the property, even if it's in distressed, horrible condition. So it's just been tough. And so we're always brainstorming. I woke up probably three times last night, text myself ideas on what we could do to get more properties.

And wholesalers are coming out of the woodwork.

Yes.

You know, from everywhere.

Yes. Yeah, it's crazy. So there's not always all good, there's not always all bad. It's usually little mix of both. And we like to share, you know, both ends of the spectrum.

Yeah. And last thing is, we notice that we have new mugs.

Yes.

I'll take pictures. I'll put them close up on the. Yeah, yeah. It's like we're, you know, the late. The late night show, you know.

Oh, yeah, yeah, yeah. Hey, one of these times we should put something.

Yeah, we should actually. We should actually put something in it. Cheers. And we also got some new lights, you know, to help things out in. In our little or studio. I'll take a picture so you can see where we actually film all this. So we got a nice little. Nice little location.

Yeah, we're starting to settle in.

Yep. So again, we hope that you enjoy, especially these live episodes. I think you know what to do on all the Facebooks and all the social medias. So make sure you subscribe, give us reviews, make sure you comment, make sure you get in with the groups and talk to the gang. But we always like to end all of our episodes with invest, smart, live, happy. Bye, everybody.

Hair okay?

Oh, it looks great.

Great. What are you doing? Just move my glasses.

Good thing this isn't in high definition.

Is it really?

Yes. Yeah. Yes, yes, yes.

You're such a jokester.

Nothing on this 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 this show are not guaranteed. All investment strategies have the potential for profit or loss, y' all.