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. That's right, and welcome to another Live! Live! Live! episode. And I don't even know where we're at at this point. I think we're back in Florida. We're back in Florida. Yeah, we're back home in Florida. Phew, boy, I've said it before I'll say it again. No moss grows on us. But welcome to, this is Week 38. That's right. And there's only 14 more of these Live episodes. Yeah. Yes. Until next year.
This is our live review of this last week. And obviously we're back here in Florida. We went through, what we thought was going to be a planes, trains and automobiles situation last Saturday to come home. Because at 2am No, actually, at midnight, we started getting text messages about our flights being delayed. Yes. And then at 1am, they get delayed a little further. And then at 2am, they got delayed even further. And finally at 2am. Our first flight was delayed five hours, which means that we would be landing in our first stop at the same time that we should be landing at home. And so then I got up and I was on the computer for a while. And finally we realized there was a flight an hour earlier that we could have been on all along. That was just fine. It was hunky dory. And so we ended up getting up early, just crazy driving in smoke air. So it was worse than fog and smog. It was horrible driving for an hour to get to the airport and we just got to the airport and didn't even put gas in the rental car. We just said here you go. We're out of here. It was crazy. It was crazy. But because of the smoke we didn't get to do the gondola. We talked about it last week, we're gonna ride the gondola, like two miles or whatever. However high. 2.4 miles, yup.
But because the smoke in the air from the California wildfires, there was no gondola for so long. Yeah, I was a little bummed about that. Yeah, because as fearful of heights that I am, I was super excited about that particular trip and I knew it was going to be freaky. But I knew when I was done that I was just gonna be so glad I went and it was gonna be such a great experience. And I was looking forward for just the view and pictures.
Yeah, and we stayed at a resort and spa I think last week we told you where we were at. It was a very interesting room. Yes. The room said during the winter months that if you're cold open the window and during the summer months if you're hot. No, wait, no if you're hot. If you're hot, open the window because there's no cold air in the hotel. Yeah. And then vice versa during the summer. In the summer if you're hot. Yeah, open the window, because you need. I can't remember what it says. Yeah. Anyway, it involved opening a window to solve your heating and cooling issues. Yes, that's the bottomline.
And so the morning that we flew out by that point by like three o'clock in the morning, it was 70 no, 83 degrees in our room. Oh, and the dogs are joining us for the, if you hear that noise. But it was 83 degrees in our room at this resort and spa. So boy and just. Because I had the air on but there was actually heat. Yeah, they're pumping out heat so it was getting hotter and hotter. It said cool. Yeah, it said cool, yeah. Yeah, it was an experience. Yeah. We don't mean to be complaining. Our lives are like incredible. We are so incredibly blessed. Yes. But as a result, like I'm really tired, like this week has been hard to kind of jump back into it. Yeah, I'm just, I'm a little worn out from the trip and kind of the chaos and everything.
But let's start with the fun stuff. Yeah, deals. Deals! Let's get back into real estate. Actually we found out that this one, it was, everything was signed. Yup. Before we went to Tahoe. Yeah. But we have a strict rule. If the money is not in the account. That's right. It is not closed. Yeah. And so it wasn't until what after we got back Monday or Tuesday, or I can't remember what day it was. I can't even remember. I don't even know what day today is. Thursday because we're doing a live. Thursday, that's what my watch says Thursday. It was at some point this week that we got the message. We got the message from Tiffany actually no, we got the message while we were in Tahoe. That's right because the Voxer, you were at the ATM. Yeah. When I saw Tiffany was talking on my Voxer and I went, oh, what's that? Yeah, so the funds that the account, so our little 8 unit from the original 56 unit that we've got, we've peeled that off. That is our second successful exit. That's correct. And so that's one of the things that you look at in this space. And I'm glad we're talking about this because now let's just jump back into real estate. Now my energy is up. There you go.
When you're in the world of multifamily or any space in particular, in which you're new, you want to see everybody's track record, right? And even though we've got a very good track record, and everything that we've done, multifamily is in commercial, is a new space for us. So it's not that scary for us or daunting, because we've been in real estate for so long. And it's just more to worse, that's it. But track record still matters and so it's been really nice that our 48 of the first 56, our 48 unit refinanced in 21 months, and now our 8 unit is now sold. So that's two successful rehabs and exits, both incredibly profitable. Far more of a home run than I expected for our very first deal. Yeah. So that doesn't mean they're all gonna be in a home run, there's going to be tougher deals and in this market, you're going to have a path to navigate it. And so we've got Serena Gordon, we just, that's the second one, we closed on the 16 unit too. So that's really the first one I'm gonna call a package. So it's one deal not two, even though it was two exits, Serena Gordon, no, then Lake Forest. That was our second, 384 unit in Daytona Beach. And then the 129 unit in Mississippi, was our third and then the 48 unit Serena Gordon was our fourth and then 16 unit, we just closed. Just closed on that one too. Yeah, so that is now the smallest of all of them. And the reason that we went ahead and went forward, because we're looking for bigger stuff. It's because our partner Ken, he's got like, I don't know, I don't know how many, a bunch of properties right in this area. All in the same area. He's been wanting this multifamily unit for a really, really long time. And one of our team members, Eric is the one that actually grabbed the deal and said, Hey, I've got this deal. And Ken was like, woah! I've been trying to get that deal for years. Exactly.
So we did the acquisition part of that deal. And Ken went ahead and took care of the rest of that deal, because it was somewhere where he's got a large portfolio anyway. So it was a good win win for all of us. So we just got that close. Congratulations, Eric. Congratulations, Ken. Yes, congratulations. We love love, love that we got to put that one across the finish line. So we're just incredibly happy to have such great partners in this multifamily game. And it's just so so so much fun. So that's still number five, I believe. Yup, I think so. Okay, so that's still number five. We're still chasing lots of other deals, and we're getting our fund launches and things like that, but it's super exciting to have things going. And we have one more still pending and that's all we're gonna say about that. Yeah. And we're not going to even talk about it. Yeah, yeah.
But this week, we got back, we're trying to, it feels like we're running in taffy. But so anyway, so we started to do a lot more work on the funds. Yes. I'll let you jump into this. Yeah, so we're doing a ton of work diving in, I'm usually juggling so much that the funds have not been full on focus. When we got here, our marketing teams, they're getting ready to get, they're ramping up, right? And I've got to keep pace with them. So I just said, Hey, everything off my plate, funds. That's what I'm working on. That's my focus for the next two months, really. And I'm kind of racing and racing against myself, setting goals to make sure that I can, you know, hit them and really focus, it's been very helpful to put the blinders on, right? When you just say, Hey, this is what I have to do. And this is the highest priority right now. Everything else has to wait. Well, it's kind of weird. And there's a little anxiety with everything else kind of waiting and being put on pause. But I've got such a great team around me that Jody is taking care of most of it. I know, Thank you Jody.
So that's been fantastic. We did hire a videographer, he's actually coming here to Florida, in October, and then we're planning an Ohio trip. And so we can start recording a bunch of things that we're going to be putting out on social media, that's super exciting. And then we did some forecasting. This is probably one of the hardest parts about building, especially multifamily business, because the money really comes down the road, right? We are going to really get paid off and very well paid off in three, three to five years. Right? But this building a business that doesn't have a lot of income coming in during the first three is very, very difficult to navigate. So I worked on some forecasting this week, to really look at that and just say, hey, with everything that we've got going on and the marketing teams that we're hiring and what we're ramping up with these funds, what does it look like? And they're big, big numbers that we have to figure out and navigate. So I'm meeting with our CEO this afternoon and our COO Tina. So Erin, Tina, you and I are meeting this afternoon. I'm meeting with one of our other partners on Friday, our other partner Arianne and Chris, they've already kind of watched a video that I had and provided some feedback and then I'm meeting with another investor who has a $100 million fund next Wednesday.
And we're just trying to answer some really difficult questions and make sure that we're not missing anything. And what are the upsides? What are the downsides? What are the risks? And all those things are very, very important questions when you go into anything. And that's where I get super, super thankful about the people that were surrounding with. Because us doing it alone. Nope. We've always made mistakes, right? Building the five companies, we've made mistake after mistake after mistake. But the more people we surrounded ourselves with the more ability we have to ask questions, the better we got at not making mistakes of things that you just don't know, you don't know, right? Until you do it. Yip. Until you have somebody else who says I've done this before, I've been through this, here's what you're missing. So it's really great to be in the space we are now because I can create a forecasting sheet like that. And then have five meetings with people that can pour into it and go, you're missing this, you're missing this, this is smart, this is smart, here's another idea and at the end of it have a really good game plan going forward. So I'm super, super excited about that. And I just wanted to share. Yeah. Because I think that's smart and for those of you who are in similar situations, do that. So yeah, I think that's all I have. That's it? Yeah. Okay. Yeah.
Well, make sure that you head on over to our website, www.FreedomCapitalInvestments.com to join our investor club, and we also have the swag in there. And also if you have a deal that you want to that you heard about, or whatever, you can submit that 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.
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