Ep 70 - Week 10 Recap & Key Takeaways

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

Our podcast called Freedom through Passive Income.

Thank you. This is one of our live episodes. This is the episode that is our recap of week 10.

Yes. Week 10.

10.

And where are we?

We're on location. On location. We're right here in beautiful Cancun, Mexico. And we have to get this video done in just a matter of a couple minutes because the sun's going to come up in just a couple minutes.

And as soon as the sun comes up, you won't be able to see us anymore.

But this is week 10. Oh, my gosh. I can't believe that Recap and key takeaways. So take it away.

All right, so episode 64 was, what investment is practically free and gives you the greatest roi? All right, Key takeaway number one was, what is relationship equity? Because that was the answer to the question.

Yes.

And that is when you continually make deposits into somebody else's life with no expectations. Key takeaway number two was the key components to relationship equity is trust and reliable performance. And then. Trust. Yep. We said trust twice. Absolutely. Put another way, keep your promises.

That's right. Trust is trust. Trust, yeah.

Super important.

That's right. So episode number 65, should I pay off my debt or invest my extra cash? Now, this one was fun because I got to play a little quiz on this one. But so, like, key takeaway, so you have a mortgage on a house and an interest rate that's 3%. You also have some investment opportunities that you're looking at, and the return investment is 8%. So which is better? I'll go with the 8%. And then the key takeaway, the other one was, what do you do when you have an opportunity to apply for a credit card that's 0%? And we just did this again. I do. It's like shuffling cards with me. I've got. You don't even ask. Yeah, so it's like a game for me. And I love the 0% interest for, like, whatever, 12 months or 24 year. 24 months. 24 years. That'd be something.

Yeah, that is. Yeah. We're always thinking of new ideas. I think you just came up with one. All right, episode 66 was seven ways to evaluate investment options. Key takeaway number one was active income versus passive income. How much time do you have on your hands, and how much can you do based on how much control that you want to have? Key takeaway number two was depreciation. You want to be able to wipe out as much of your tax implications as possible. Preserve that wealth.

That's right. Episode 67, Integrity First. Now, this is why we pulled out of an 89 unit senior housing facility. Now. And this was. This wasn't something easy to do. That was because this was a tough decision. This was a cash towel.

Yes.

But when in doubt, the straightest route when it comes to, you know, choose the straightest route. Sorry. When it comes to keeping promises. And investors come first.

Yes.

Not the investment. The investors come first.

That's right.

And then one of the things you said earlier, trust. Trust matters the most in relationships. And so it's critical when we're doing these deals. And this one had so many layers to it and so many variables to it. And so that's why it was very important. And if you can't trust yourself, who will?

That's right.

That's right.

All right, episode 68 was. What is a cost segregation study?

Cost seg.

Thank you. Key takeaway number one is the IRS rewards real estate investors. Depreciation is one tool investors can use to minimize your tax burden. Straight line depreciation is depreciating the entire property over 27 and a half years. That's for residential, 39 years for commercial. Key takeaway number two is level up to cost segregation depreciation to be able to categorize certain elements of a building that the IRS says that you can take a tax deduction for across a 5 year, 7 year or 15 year timeline. Now, I know that's. We compact information on these episodes for a reason.

Go back and watch that one if.

You'D like to learn more. There's a lot of information on that episode that is helpful to understand why we do cost segregation studies on all of our properties.

Yep. And episode 69 was week 10 live. This was our live updates, which you'll have to go back to watch our updates because we. So many updates.

There was so many.

Yeah.

Crazy.

Yeah. And so one of our updates is that we're on vacation. See, and one of the cool things, too is that we get these bracelets and you know, and. And this is our room key. Yeah, you can never lose your room key.

Yeah. Yeah. It's super cool.

I love it. You can't lose.

Like every hotel should do this.

You can't lose your room key.

I love it.

Unless you lose your hand.

And also yesterday I called this an ocean and you corrected me.

It's a gulf. It's a golf. That was earlier.

Yeah, yeah, yeah.

So we're on the Gulf.

We're on the Gulf.

We're on the Gulf Ocean. And today is Fun Shirt Friday. So I had to wear that because somebody said, hey, how come on these Friday episodes he's not wearing his fun shirt? I am now wearing my fun shirt Friday shirt. And I will be on the golf course displaying this beautifully.

Oh, my gosh.

Yes. So, and then the other key takeaway was freedom through passive income, which is. This is what this is about. Being able to be here where everything's working while we're not. While we're here and we're having fun. A chance to rest and relax.

Yes, I'm resting too.

Yes. And she's even reading a book called Rest because she's an overachiever anyway. But so that ends. That wraps up our key takeaways for this week. We hope that you enjoyed this video. Make sure you check out our groups on Facebook and LinkedIn and on YouTube. If you're watching, make sure you subscribe. And if you're listening on any of the multiple formats to Listen to podcasts, 5 Star Reviews Comments would be grateful, but we always like to end all of 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.