Ep 81- How We Made Our First Million

Hey, everybody. Flip and Danny here, founders of the Freedom Real Estate Group family of companies. And welcome to another episode of our podcast. And our podcast is called Freedom through Passive Income. That's right. And today's episode is called How We Made Our First Million Cool Money. So this is actually kind of a cool topic because we were just sitting around one night and we were talking about everything and about how everything happens and just kind of recollecting. Oh, and we were talking about things and you said, hey, you know what, that'd be a cool topic for one of our episodes. And so, boom, here we are.

Yeah. And so I also wanted to mention something because we recently got these mics. So we've got these lavalier mics. And for those of you who are listening in the car, you don't see the video where we're actually choosing different backdrops. We're recording these in all kinds of different places. Just kind of make it visually interesting for those who watch it on YouTube.

But you'll want to watch it on YouTube because behind us is one of my favorite works of art that we own. This one's called Altogether now by Hanna Barbera and it's actually signed by Bill Hanna and Joe Barbera. And there's a cool little fact about their signatures that I won't get into now because it's completely useless knowledge.

That's true. I love it, though. And so, yeah, we've had many, many ideas about this 365 day podcast. So the reason I mentioned this is we've watched, you know, back and to see, hey, how do we think that we're doing? And we noticed that we tend to talk to each other a lot. Like, this is a very conversational type opportunity for us to share things. And so when we look at each other, our voices go down.

Yes.

And so we bought these mics. Hopefully the audio is getting better. If you guys ever have feedback like that, you feel free to be the ones to tell us, hey, you guys need better mics or you need to do this or whatever it is.

And thanks, Jim, for the idea.

Awesome.

You know who you are.

Okay, so let's dive back into the podcast.

So I apologize for interrupting this episode, but I do have a quick announcement. You see, this is how we show the social media algorithms that you actually like what we're sharing on these episodes. So if we're adding any kind of value over this 365 day series, all throughout the year, we hope that you'll help us out by sharing the love. So make sure to hit that like or love button right now. And if you're on YouTube, be sure to subscribe to our channel. Now back to the show.

How we made our first million. So our very first million. We talked about this recently on our 56 unit story part two, when we went into the numbers.

Macheta.

Yeah, as Flip put it, that is where we made our first million. But as we were talking about this the other night, it was really because we built Freedom Real Estate Group as kind of the company that we thought was going to take us to where we wanted to go. Eventually we were going to hire a CEO. Eventually we were going to retire. That's how we would have made our first million and hopefully multiple millions after that. But from there it went into six companies. And that essentially allowed us the power and the vertical integration of those companies, allowed us to be able to purchase those 56 unit apartments like that. Because we did it and it was a, it was a decision. And we said, we will close in two weeks. The only reason we had the confidence, confidence to do that is because of everything that we built up to them. But the apartments themselves were the entity or the product that produced the first million dollars for us. And it might end up being multiple millions. We're waiting to do the refinance to really find out what the numbers turn out to be, but it's our first nonetheless, that will actually reach that mark. So we thought that was really cool to share and to understand that anybody tells you a story. I made my first million year. Well, how many years did it take for you to be able to get to that point? Right. And I think that's an important lesson that nothing is overnight. The overnight success is really like the last. You know, we started in 2008.

Right.

So that's our overnight.

Yeah. There's no rulebook out there that says you need to have earned a million dollars or made a million dollars by the age 30. Right. I mean, I'm super old. So I mean, you know, so don't, you know, don't ever say, oh, I'm too old for this and I can't do it because I should have done this 20 years ago. Yeah, that might be true, but that has zero reasons for you to not want to do it.

Yeah. And so then we started talking about, well, how are we going to make our next million and then the next.

Million after that, of course, because typically you, you get to the end zone and it's another 100 yards. That's right.

So then we started talking about that we really, truly believe that our businesses are going to be the next one. Even though the apartments got there because of the businesses. The businesses are right there in line. But then we talked about the syndications and the apartments that we're buying through multiple partnerships that we've been talking to you guys about and we thought, huh, I wonder how close to, you know, number two and number three are going to actually be and what that's really going to look like. So you guys are here with us in 2022 as we 365 day series podcast. So you guys are going to learn how it all happens in our weekly live. We might go did it.

We did that one.

So I hope you guys are inspired by everything that we're doing and sharing because that's really what it's meant to be to share with you and take you along with us if you want to.

Yeah. And now if you're listening, the question that I have for you is how will you make yours? I mean, you're here. Hopefully the reason why you're here is not just because I'm so handsome, but it's because of how to learn how to make passive income. Right. And so. Stop laughing. It wasn't that funny. So do you want to make, you know, are you going to make it doing active investing or passive investing? You know what, what is your game plan? Do you have a game plan? You know, like Danny said, we kept building businesses. She felt like the guy in Iowa, build it and it will come. She just kept building more businesses. So. But anyway, what's your game plan? You know, what are your thoughts? You know, because it's never too late.

Yeah, it is. So that's what we wanted to share with you today. We're excited about it.

Well, excellent. Well, I hope that you are watching on YouTube and if you are watching on YouTube, make sure you hit the subscribe button. Make sure you join us on our Facebook group. Facebook.com groups forward/ what is it?

Freedom through passive income.

That's right. And then we're also on LinkedIn and we're also on Instagram and are we on Snapchat? We should be on Snapchat, TikTok and whatever the other ones are. But anyway, make sure you're joining our groups. Make sure five star reviews. Those are huge.

Oh yes, please.

So, but let us know how we're doing if you have any questions, if you have any recommendations.

And somebody put a comment on this video and asked him about those Hanna Barbera signatures. Just saying. Pretty cool story.

It's a true story. I can prove that they signed it. Exactly. So, again, we hope that you like these videos. And this one was a little bit silly. Well, because that's what I'm naturally silly. So this one was right up my lane. But we hope that you enjoyed this episode. But we always like to end 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. Sam.