Flip and Danielle Robison recap week 11, covering estate planning, net worth calculations, mindset, apartment appreciation tactics, and a bridge loan that made $3,000 in 30 days. They're closing a 48-unit and have multiple deals in underwriting.
Hey, everybody. Flip and Danny 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 today is another one of our live episodes. This is our weekly recap.
Yes.
And this is week 11. 11. Oh, my gosh, I can't even believe it. And today is March 18th. Now, you see, I'm wearing green. It is not St. Patrick's Day anymore, but every day in my calendar is St. Patrick's Day, because I wear green every day.
That's true.
But it's also March Madness, the basketball tournament, and my team plays an event.
Who's your team? Who's this?
Just in case you didn't know, Michigan State. And they play very, very, very late tonight, which I'll watch tomorrow morning. So, anyway, so welcome, welcome. So let's talk about the episodes. So start of the week was episode 71. And this was the six things you shouldn't leave to your children.
Yes.
And that doesn't mean toys. You can give them toys, but key takeaways are all your stuff. Leave the sentimental things to the people you know who would want them and then sell or donate the rest. Better yet, make arrangements for everything to be sold when the time comes. Funny thing. You'll have to watch There's a rock in our family. And that's one of the things that keeps getting passed down to me. It never gets passed down to anyone else. It just keeps going back to me anyway.
And then it's a big rock.
That thing's heavy. And then another key takeaway is the family squabbles. Update your will or any instructions regularly to reduce the possibility of disagreements later. Because again, once you're gone, everyone else is left to your things.
Yes, exactly right. And episode 72 is how to calculate your net worth. Our key takeaways were the Federal Reserve releases a survey of consumer finances every three years. And for 2019, when the head of the family is less than 35 years old, the median is only 13,900, while the average is 73,000. Nope. 76,300.
That's just crazy. 13, 9 to 76,300.
Yeah. Yeah, it is crazy. Our second key takeaway was that this report shows how important it is to be focused on building your net worth and starting earlier. If people will have more financial education at an earlier age, then these numbers would be greater across the board. No matter what your age. Get educated now.
I Love it. Episode 73, Abundance versus Scarcity.
Scarcity.
Scar City. Scar City. There was a space there. Scar city abundance versus scarcity. You have to work to rewire your brain in order to constantly think about abundance 100% of the time and not creep back into that scarcity mindset. A lot of people think, mine, mine, mine, mine. No, it's not. There's plenty for everyone. Another key takeaway is other things like cars, hiring, eating out. If you're going to do it, do it right. I even talked about it in that episode about a time where you just looked at me and says, listen, if we're going to buy one, do it right. Get the right one. Which I've never forgotten, ever. And we're not advocating irresponsible spending by any means. We're encouraging you to give what you truly want voice when it's time to make decisions instead of setting turn I can't into how can I?
That's right. And episode 74 is what is forced appreciation. You must depreciate. We gave some examples of decreasing expenses and increasing income. So I'll just share two decreasing expenses. You can do things like utility bill back. So if the owner was paying utilities prior to the purchase of the apartment, then you can bill back the utilities to the tenants in order to decrease your expenses. And you can also see if low flow water fixtures are going to help reduce your water bill. And then also for increasing income, obviously the big one, you can increase the rent. And then also like pet fees or pet rent. Those are just a few examples of how to do forced appreciation apartment complexes.
And then episode 75, how we did our very first little bridge though key takeaways there is, you know, it's just something very simple, something short term financing. This one was just 30 days, you know, so it's just very key, very, very simple. Keep it simple. Whatever that you want to call that last, silly, silly. Keep it simple, silly. And then the last key takeaway was, is just doing that one little thing in only 30 days. But we made over $3,000 in that. In that 30 days. And some people again might not think that's a lot, but we just did. We took something out of Nothing and made $3,000 out of it.
Yes, exactly. So this is another strategy that we're going to use for lazy money. That's right. And then yesterday we did our week 11 live episode and our progress update. And so two of the things that we talked about was we have multiple deals in underwriting again. So we're still on our way to closing the 48 unit. Right. But we've just got Deals, deals, deals.
I'm like, woo, possibly three in underwriting right now.
Yeah, yeah, exactly. And then we're also working on building out our team. So we're wanting to hire some full time positions to really kind of round us out and be able to do a lot more here in 2022.
That's right. Cause we never stop. She doesn't know where the brake pedal is, so only the accelerator pedal. That's all she knows.
And I'm the one who's watching Revin right now.
Well, we always like to try to make these as short and sweet as possible. Make sure you're joining our groups if you haven't already. We're on Facebook, the Facebook group, which is right up top here. And then we have the group on LinkedIn as well. But make sure you jump in there, talk to the team, get to know them, ask them any questions you might have. If you're watching on YouTube, make sure you hit the subscribe button. Make sure you comment, let us know how we're doing. And if you're watching on any of the platforms for podcasts, make sure you give us a five star review. We love the five star reviews, but we hope that you're enjoying it. If not, then we're at a different podcast. Thank you. 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.
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