Philip and Danielle Robison recap five episodes on multifamily investing, covering offering memorandums, property manager interviews, and due diligence. They closed a 129-unit deal in Jackson, MS and completed due diligence on a 48-unit property.
Due to the overwhelming amount of comments from our loyal fans, such as they are having too much fun. They are always so happy. Our episodes will no longer be fun and we will try our hardest to not be happy. Hello, Philip here, along with Danielle, we are the founders of the Freedom Real Estate Group family of companies. We are located in Dayton, Ohio. Welcome to another episode of our podcast which is called Freedom through Passive Income. Thank you, Danielle.
You're welcome.
This episode is one of our live episodes, so welcome. This one is entitled April Fuzz. Hey, everybody. Flippin Danny here. For real, yo. Founders of the Freedom Real Estate Group family of companies. Welcome to another episode, Freedom through Passive Income. And welcome to another live episode. This one is our week 13 Tracy.
Yes.
Yes, Tracy. Yes. Week 13 recap and key takeaways. And if you didn't Already know today's April 1st, way back to last weekend. Episode 85, Common Acronyms when investing in real estate syndications. So key takeaways. So again, it goes back to the om. In fact, I'm working on an OM right now. The operating memorandum. Memorandum, yes, memorandum Offering, offering, not operating.
Yeah. I was looking at you going, what's he talking about?
Yeah. And right here it says. And I was like, what is that? OM offering memorandum. This is right here?
Yeah, Yeah.
I just needed to read a little further.
Yeah.
Anyway, another key takeaway was, I swear this is true. She denies it, but we got an email and there were so many actors acronyms and initials and everything, I'm like, is this code for something? I had no idea what it meant. So hopefully those common acronyms helped you out.
Yes. And then episode 86 was the 48 unit property manager interview. So we talked about that. The key takeaways were once you get the property management agreement and all the leases, review them thoroughly, be prepared. So you make the most of the interview and get all of your questions answered. The other key takeaway was let them talk. They will often volunteer information that is supremely useful to you in the due diligence period.
And that leads right into episode 87, which was due diligence checklist.
Right.
And so this is one thing that this due diligence report will reveal is who are the real people in the scene? Because if you ask these questions and they say, I don't know, well, then we probably don't want to work with you because experience matters. But with this property manager that you're talking about, she knew.
Yes.
Excuse me. Another key takeaway is the checklist is a very thorough detail of all the things you Want to be double checking to make sure that, you know, the information that you received when you underwrote the deal and decided it was a good deal is actually accurate and true before you go into the deal. Especially before you go into close.
Yes.
Because. And like I said during that episode, that due diligence checklist is a living document. We're like, oh, we need to add that to that list.
That's right. Episode 88 was five trends driving real estate in 2020. First key takeaway was the pandemic. There's just so many things that have changed and shifted because of COVID 19 and the effect that it had to all of us as human beings.
Yes.
We were just watching something about that the other day. I won't go into it, though. Otherwise, like yesterday's episode. I'm gonna go into the red on that timer.
We're still good.
Yeah.
Okay.
Second key takeaway was we often tell you we're not the masters of studying economics or market shifts and data reports and things like that. We do look at them. We do read article. Importantly, we surround ourselves with the people who are the experts. You can't be an expert in everything. Don't try to be. Surround yourself with the right people.
Yep. And then episode 89, our favorite F word, which is Fortunate Friday. I've been waiting for the seat I secretly wanted. This one. I was waiting the whole time. I was like, holding it in. Holding it in. So the key takeaway is fulfillment. That's actually their favorite F word. Yes, yes. Fulfillment is something money can't buy. Even if you have all the money in the world, if you're not fulfilled, there is emptiness in there. And defining your purpose is the key to feeling fulfilled. And people always talk about, look at that guy. He's got all the money in the world and he's sad he's not fulfilled.
Yeah, exactly. Right. And then yesterday was our week three live.
That's right.
And so the two key takeaways we wanted to mention from that was our 129 unit close in Jackson, Mississippi.
Finally, finally. Da, da da.
And we finished the due diligence period for the 48 unit that we're under contract for. So great, great, great week.
That's right.
Super excited.
So again, we like to try to keep these as short and sweet as possible. So make sure you're joining us in the investor club, which is on our website right here, freedomcapitalinvestments.com so head on over to the investor club. This is different than the groups on social media, but make sure you're on those groups as well on YouTube, make sure you're subscribed and whatever podcast medium you can find it.
I need to give you some water. You need some water? Come here. Drink. Drink up. Drink. There you go. For those of you who are listening and not watching, we're just. We're soaking his vocal cords. Better?
Yeah, I'm better now. Okay. So anyway, make sure. Let us know. Let us know how we're doing. Let us know if you have any questions, comments or recommendations or requests. Yes, 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. It.
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