Ep 63 - Week 9 Recap & Key Takeaways

Hey, everybody. Flippin dandy here, founders of the Freedom real estate group family of companies. And welcome to another episode of our.

Podcast called Freedom through passive income.

That's right. And this is another live episode. And this is live on location.

Yes. Where Flippy?

On location.

Where's location?

In the city of Salt. We are in Salt Lake City right now in a mastermind. And so this is where we're doing. Obviously you can tell from our background this is not a normal background. We are in our hotel room for.

Those of you watching the video.

Yeah. And make sure we took a picture and we posted it on Facebook. So check out because then you can see what this actually looks like because we Jimmy rigged a studio right here in our room.

That's right.

Hopefully the hotel doesn't mind the lampshades. But anyway, we are live for this week. But I wanted to mention something also. This is episode, I think 63 in our series. So 1 through 63. 1 through 60. 61, I think have always been the same music at the end of the episode, you know, and the disclaimer at the end of the episode. It's always been the same. And I'm sure you've heard it and I'm sure. Oh, there it is again. You press stop or whatever. I changed it up. That's all I'm gonna say. I changed it and I listened.

I listened to it. It's pretty awesome.

Oh, but awesome. It's different than before.

It made me laugh. That's all that matters.

All right, so this is week nine.

Yes.

I can't believe this is week nine. Recap and key takeaways. So back to episode 57, rookie mistakes. I love taking this one because I'm the biggest rookie there is. So key takeaways are not finding your tribe, you know, it's making sure you find the people that you align yourself with, you know, because that's what's going to help you the most. And whoops, don't touch the screen. And so, you know, especially with sharing resources and sharing stories and sharing, you know, being able to bounce things off of. So that's very important. And then not starting as soon as possible, you take the first step. Everything starts with just one step. That whole. I won't say the China Chinese wall. So I won't do it. Well, now I have to. It was started with one brick. But anyway, you got to take that first step and so you just don't wait until it's perfect because it'll never be perfect.

That's right. Episode 58. This is six steps to successfully invest in real estate syndications. And the very first key takeaway that we decided to put on here was decide whether it meets your investment goals. So there's lots of different investment opportunities out there, and you just have to choose the right one that's best for you. Syndication isn't for everybody, but if you like syndication, like we do a lot, then maybe it's something that you want to invest in, or perhaps it's just maybe one piece of the puzzle because you're going to diversify across multiple investments. So just make sure that you decide for you that you're comfortable with that type of investment. And then the other key takeaway was the most important step is to celebrate.

That's right.

And I am the worst one about celebrating these things. I think we talked about Gap in the Gain. The Gap in the Gain, that book that Dr. Benjamin, Dr. Benjamin Hardy and Dan Kennedy wrote, it's a fantastic. It's what really hit home. It really forced me to go, okay, now I understand. And, you know, investing and taking a step towards your future is something that a lot of people aren't going to know about. A lot of people don't even do the work to get educated. And you're here and you're listening, so you are doing that work. So celebrate the fact that you take just one step towards your financial freedom and towards what you're going to build for you in your future. And that is passive income. That's going to you meet and cover your expenses so that you can start living the life of your dreams.

Yep. And then episode 59. I love that I got this on two skills you need to know about money when building wealth. Number one, I don't agree with these steps, but number one, making the money. You know, I love that you need the seeds in order to plant the crop.

Yeah.

You know, you know, that's. That's the. That's some. For some people, it's the hardest thing to do is to make. Make the money. So that is key. You know, it's. And you can't keep the money if you don't make the money. That's the step two that is keeping the money so we can grow the money. You know, something that Eddie Wilson, who runs the mastermind that we're here for, you know, he had said, I focus on this, this and this, and the money will come. You know, and so it's not always about, you know, making the money and keeping the money. It's. Once you have the money, it's just doing the things you want to do, and the money just keeps. It's a law of attraction.

Yeah, for sure. And then episode 60, we talked about how to avoid a bad partnership. This hits home for Flip and I because we've been in many partnerships over the course of many, many years, and it's unfortunate that some of them didn't work out because they're great people, and we just didn't do the right things up front. So key takeaway number one is define expectations up, right? Make sure that you know who's doing what and detail that out. And detail out the money, especially money is one of the most hot topics of all. And the last thing you want to do is not have an understanding of how money is. Is separated between the two of you for doing whatever it is that you're doing. So just be detailed, set expectations, have lots of conversations. And when you hiccups come, because they will come, sit down and talk about it. Don't be afraid to sit down and talk about it, because that's really, really super important. And then the second key takeaway that we wrote down was lay out a breakup agreement and do it up front. So when you're starting a relationship or partnership, it's a honeymoon phase, right? We're just dating right now, so we're as nice as we're ever going to be with each other. There's times this morning we're tired. Flip and I are t tired. And the way we spoke to each other was not angry or anything like that, but we're frustrated and we're tired, and it's gonna be a long day. You don't do that when you're dating. Right. Even if you're in a bad mood or you're tired, you're still like, hi, you know, how are you? Yes. This is the time you want to create that breakup agreement because you're on good terms. So sorry. I totally related that to us. That's awesome.

Then episode 61 was the Orlando mastermind. I think we were a part of, like, three. Three dozen masterminds. But that one, we went to Orlando, which was. Is, by the way, just in case you don't know, is way warmer than Salt Lake City. But the first key takeaway is the importance of masterminds. You know, getting out there and developing and growing what you've already learned, you know, you don't know what you don't know. And with some of the masterminds, we walk in there and like an hour later, like, huh, got those gold nuggets didn't know about that, you know, you know, and so it's, it's, it's great to, you know, getting out there and getting into those masterminds. I highly recommend it. Another key takeaway is hard work isn't how you get wealthy. Otherwise coal miners would be the richest people in the world. And that was.

Mark Evans.

Yes. Dm, which is demand.

It's the deal maker.

Dealmaker. Yes. And so that's what he said. You know, hard work isn't, you know, that's not how you get wealthy. Otherwise coal miners would be the wealthiest people in the world. And another funny comment too was, you know, how else would you know? Jeff, Jeff Bezos and the coal miner, they both work the same number of hours in a day but live way different.

Yes.

I don't think there's any coal miners going into space.

Yeah, that's a perfect example.

Yes, exactly. So again, making sure that you get your money working for you.

Yes. All right, and then episode 62, which was yesterday was our week nine live and our key takeaways were our thousand door goal.

That's right.

We have had some action on deals. So we already had 444 beginning of the year. We have a clear close on the 129. We have a purchase agreement for a 48 unit and we are getting ready to sell an 8 unit. All of that said, we're down to a net 613 if everything goes as planned. And then the other key takeaway was the market looks strong for the next two to three years. So don't second guess yourself or you'll fall behind. Make sure you trust your gut and take action. That's what we are doing.

That's right. Well, we try to keep these as short as possible. We hope that you would enjoyed another week live update and key takeaways. So yes, yes. I thought you were gonna say something. Anyway, if you're out there listening on one of the podcast mediums, make sure you give us a five star review, comments, whatever. And if you're out there in our groups, make sure you get in there and talk with the team. They're all in there. Ask some questions. That's what that's all about. But we always like to end our episodes with invest smart, live happy.

Bye everybody.

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.

It.