Freedom Through Passive Income

Ep 251 - Week 36 Live Progress Update

September 08, 2022 Flip & Dani Robison Season 1 Episode 251
Freedom Through Passive Income
Ep 251 - Week 36 Live Progress Update
Show Notes Transcript Chapter Markers

Flip & Dani’s Weekly Live videos are intended to be timely recordings of what’s going on RIGHT NOW in their investing journey.

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In today’s episode, what's been happening this past week?

  1. Labor Day Weekend
  2. Take time to celebrate and hardcode the wins! 
  3. Business Opportunities - We evaluated new business opportunities and discussed one with our CEO and decided it would be a distraction right now.. 
  4. Videographers Interviews - We interviewed a candidate to outsource our needs but the cost was prohibitive. We plan to continue the interview process with other vendors. .
  5. Taxes  - Our accounting team is working hard to complete our filings before the  September 15th deadline.  However, taxes for business can be more complicated that individual taxes..
  6. 2022-2023 goals and timelines - We used some down time over the Labor Day holiday weekend to begin to formulate our timeline for the new fund launch and do some strategic planning. We have a great team that supports us and allows us to spend time thinking and creating overarching strategies. 
  7. Another short-term private money loan deal - this is going to be business number seven and it’s tied to the current funds but it will provide more liquidity to our investors.  

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Invest Smart.  Live Happy.

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Hey everybody! Flip and Dani here founders of the Freedom Real Estate Group Family of Companies. And welcome to another episode of our podcast, which is called Freedom Through Passive Income. Hey, I thought I was gonna forget all those lines. It's been forever since we recorded. Welcome to another episode, and this is one of our Live! Episodes and you see a new location. Well if you're listening, you don't see anything. So just imagine a new location. But you wouldn't really know it's a new location because it's the same work of art behind us, just a different wall. Different color wall.

So we're back in Florida. Yeah. For this week. Next week, we'll be somewhere else you'll have to see next week. It's a surprise. Yeah, you'll have to tune in because again, we'll be on location, whatever that means. But this is our Week 36 Live. This is week 36. Yeah. That's so awesome. This is a live review of what happened last week, or whenever we call it. I can't remember. Live progress update. Progress update. There we go. So this last week was Labor Day weekend. And this is you know, most people wouldn't make a big deal out about this. But I do want to make, so I want to make something big about this because Facebook, you know how it gives you memories. I saw memories all this week on Facebook about past Labor Day weekends and past labor days, right? And almost I think probably the last three or four years I posted. Boy I sure do love Labor Day because there's nobody on the road and the office is empty. Which means that every year on Labor Day we would always work. Yes. Because nobody else was there. So we would go in the office and you know get shetake done. Yeah. And a lot of shetake done because nobody was there.

But this Labor Day weekend, we actually got to. Not work. Not work and I get to rest and we get to do some work in the house here because we got a lot of work still left to do on the house here. And we spent a lot of time in the thing with the water in the back there, what's that called? Yeah, it was a really cool thing called pool. Oh wow. I think we went in the pool every single day. We did, it was a little yeah, there's water but this was putting Dani and I as a fish out of water because this is really weird. We actually took a three day weekend. Yes. And that's. So that's definitely a progress update. Yeah, I think it was a huge, huge win win for us. We also celebrated while we were in the pool, you said we have been in this house for one month. One month. Yeah. So we celebrated kind of like, you know, in the pool, just giggling and laughing with each other. But what was even funnier. Because like five minutes before that you're like we've been here for like two months now. And you're like let me look at my watch. Today's the 4th. Actually we're celebrating our one month today. So that was fun. Yeah, I really like, I do want to take a second to celebrate that win. Because we did used to work all the way up until this year, I think even last year, we worked on holidays. 

So this is the very first year this move to Florida has been a little bit of a nice transition for us mentally, because it's getting us out of old habits and old routines. And it's putting us into a new mindset, even these podcasts where we're sharing these stories with you, it helps when you take time to marinate on something. And I say that way, because we've had this conversation with our COO Tina a lot where she had said something she'd read something about the good and bad. Like, it's so easy to focus on the bad thing and you focus on something bad so much that it's ingrained in your memory. And it's just hard coded and that's why when you think of things, it's so easy to find the bad stuff I think about like my childhood because my mom just wrote me an email saying, favor to ask, can you send me some memories? I think about my childhood. And even though I tell everybody, I had the greatest shot, I literally had the greatest childhood and my parents supported me and we're so amazing, but when I want to think back to memories, I can't think of the good memories. I think of all the bad memories, because they're just hard coded in my brain because I thought of those circumstances so often. So I think it's really important that you take time to celebrate the wins, and we probably should do like a podcast about it. Or we kind of just did. Take time to celebrate hardcode the wins. Because you know, I'm searching and searching and trying to figure out what memories I can actually send my mom and I can't think of stuff that is like something fun because when fun things happen or wins happen. I slide right over. I just go whoopie! And I don't think about it. Well, and this actually goes back into the I know is spending a lot of time just on the first thing. Yeah. But this goes back into the Gap and the Gain. Yeah. You get happier. You need to get happy about what you've accomplished and not what you didn't get to. Yes. And so it's that, again, it's that same mental process. You got to make sure you shift what you're thinking about and shift what you're remembering. Because yeah, you just said that about thinking back to memories. And I'm just like, Oh, I got grounded for that. I got grounded for that. Boy, I really got grounded for that one. We could do a whole chapter on that, the stuff that went wrong. The next thing that we want to talk about. So anyway, celebrate the wins. So high five Flippy. Woohoo! Alright. We took a 3 day weekend. Yeah. And we just spend about, you know, five minutes on a podcast talking about it. So I think we might remember this one. Yup. 

Alright, so one of the things we did this week is we evaluated some business opportunities. So we're always evaluating business opportunities, we're always seeing things or being approached about things that we could do. And so there was a couple of things that we were looking at. And one of them I pitched to our CEO. And he was like, you know, I think that's just going to be a big hairy distraction right now. I believe that's the exact words. And I was just like, ah, but there's so much opportunity here. I can see how this could help, blah blah blah. So we had a meeting. And he kind of really went down and said, Hey, here's my vision. And here's what's in the works. And here's what we're doing. And I went, Yeah, okay, you're right, big hairy distraction. So it's really nice to have that you know, those, you know, somebody who's going to just sit there and just kind of go, not be afraid to stop you in your tracks, right? When there's something that you don't want to chase this way, when you're really focused on going this way, which reminded me of the words in our office that I put on the wall because it was our three words that we chose for 2022, which was faith, focus, freedom. That's right. I went Dani, focus, focus, focus, thankful for having people around me who are helping me focus. And we can do a podcast just about the ability to say no. Yes. Anyway, we'll move on. 

We interviewed videographers. Yup. And this is something interesting, because we've never done that before, because we've had an in house videographer for years. You and Caitlin, I guess. Yeah, that's right. That's right. Well, me and then Caitlin, Thank goodness you took over. But so this is something new to us. And one of the first people that we interviewed, they said the price and we were like, Golly, that seems kind of high. Yeah. Thankfully, we're working with another team. I think they did the milk through the nose when we told them the price. Yeah, it was. And it wasn't like, it was no offense to this person. Yeah. He's like, actually a really, really talented, you know, videographer. Which we don't need. Yeah, yeah. For us and what we're doing, we just, you know, we just need somebody to, you know, snap and shoot, cut and edit. And not, you know, be that expensive. So, but yeah, so our team is actually now taking over the interviews, and they're interviewing another person, this next week, and then we're going to be talking to a few other people. So we're really excited about that process. Yeah.

Oh, boy. Yes, can we talk about this one? Go ahead and Flip, we have to work on taxes. Yay! So if you're a business owner, and you extended your taxes this year, you're all working on taxes along with us very likely. Exactly. So seven, September 15, is the filing deadline. So our accountant team is working hard and sending us emails asking us questions. What about this? What about this? What did you do here? What did you do here? Is this right? Can you check on this? And we're like, ahh, everybody's just, you know, scrambling, going, digging in and finding all the answers for them to get it done. And that's what happens every year. Yeah because you know, we have like 18 companies. So we just filed a 1040EZ, did it online. Stop it. We're done done in five minutes. Anyway, so we're actually hitting, we're towards the finish line on that one. So that's exciting. 

And then we're working on our 2022-2023 goals and timelines of the new funds and launches. Actually, this is one thing that kind of started over Labor Day weekend, because I said, you know, on Sunday, I just want to take the time, or I think it was maybe it was Monday, I just want to take a couple hours to just sit in my office and kind of reorganize, because I have so many things everywhere, because we're traveling so much. And the move that I'm just not as organized as I would like to be. And so I said I just want to spend a couple hours, which really allowed me to go focus, and I know exactly where I'm going. And I want to do that again and just continue to narrow where I'm looking so that we can gain a lot of momentum. Now that we have Joe on board, Operations Manager, we've got AJ and Jody, who helped us, we've got the team who you're going to meet in a couple of videos coming up. Yup. The acquisitions team and the investor relations team. I think we just have all the pieces in place, not to mention the entire rest of the FOC who support us in FCI so many ways. We just we're ready and we're ready to really gain some traction. I'm super super excited about that. Yeah, I'm very excited about it too. 

And then the last thing we got another pml, pml. A PML? Yeah, what is PML? Personal medical license. Private Money Loan. That too. Private Money Loan. So another one of our short term. Yeah. Type loans. Yeah, so we've talked about this and how this is going to become business number seven, and it's actually tied to. Stop saying that it's going to become. It is going to be, this is number seven. And it's tied to the funds. So we're creating funds where we're identifying the purposes in what we're going to be investing in any way. And so we're testing out these private money loans. And, you know, we've done this is number three, they're 90 days or less, you know, we've got the note in the mortgage, we got personal guarantees on them. So they're very, very secure and easy for us to turn money around for our investors, so that our investors can invest with us. And then we can use the funds, vet the deals, just like we've vet our own deals. And it's just a really good opportunity and win for everybody involved. That also provides a little bit more liquidity too. And we haven't had that liquidity piece in past investments because we invest in apartments. So I'm really excited about that. Yeah. Loan number three came through, boy, I made that Facebook post and I just got pummeled with, you know. Requests. Hey, I've got a property, I've got a property, I'm like, yo, it's not a business yet. Too late. Give me a second. It is now. But one came through from a trusted friend and an investor, we already know in an area that we already know, she already had the appraisal set for it. So it's a very easy loan way over what we would need in terms of loan to cost and so super excited about that.

Yeah. Yeah. Cool. Excellent. Well, we hope that you enjoyed this one. Again, these are always longer than normal, but we just can't stop talking. Make sure you head on over to our website, www.FreedomCapitalInvestments.com and join the investor club. And also we're adding a little submit a deal button that should be on there today or tomorrow. So if you have a dealer or whatever, you can submit it right there on the website. Plus, we got our swag on there as well. 

But we like to end all of our episodes with Invest Smart, Live Happy. Bye Everybody!



Nothing on the 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 in the show are not guaranteed, all investment strategies have the potential for profit or loss.


Transcribed by https://otter.ai




Intro
Welcome to our Podcast
Today’s episode is about Week 36 Live Progress Update
Labor Day weekend
Celebrate wins
Business Opportunities
Videographer Interviews
Taxes
2022-2023 goals and new fund launch timeline
Another short-term private money loan deal
Join our Freedom Investor Club
A motto we live by... Invest Smart. Live Happy.
Disclaimer