Freedom Through Passive Income

Ep 320 - Flip & Dani's Story Part 3 Continued - Beginning Their Real Estate Journey to Building 5 Companies

November 16, 2022 Flip & Dani Robison Season 1 Episode 320
Freedom Through Passive Income
Ep 320 - Flip & Dani's Story Part 3 Continued - Beginning Their Real Estate Journey to Building 5 Companies
Show Notes Transcript Chapter Markers

This is the second half of part 3 of this series. Where we talk about how we started Freedom Real Estate Group.

Freedom Real Estate Group

Bulldog Renovations:

Independence Property Management

Independence Realty Group

Cash 4 Ohio Houses

Freedom Capital Investments

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After a short time in Arizona, Dani and Flip began to enter the turnkey real estate business with an Ohio-based partner and moved there in 2015 and in 2017, they created the Freedom Real Estate Group. They started working out of the dining room of their home and eventually moved to a 5,000 square foot office where they created two other companies, Bulldog Renovations and Independence Property Management to keep renovations and oversight of their assets in-house and to control quality and costs. Most of the early turnkey leads originated with wholesalers but, in time, Dani and Flip created the company Cash 4 Ohio Houses which would generate leads from an internal source and eliminate the dependency on wholesalers and outside sourcing. For all our audience, we want to say how glad we are that you are interested in our lives and share that creating the vertically integrated  Freedom family of companies was a process grounded in our experiences. And it is important for us to share them with you and if you have a passion for real estate, we invite you to reach out to us or anyone in our Freedom family of companies for advice or feedback so you too can reach your financial goals through passive investing, turkey real estate or multifamily development.    

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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. That's right. And actually, this is not another episode. This is? Well, it is another episode, but it's the other half of our previous episode because it took so long for us to get through this story, we decided to split it in two. Somebody was a chatty cathy. So tune in and enjoy.

And then we moved to Arizona, because my mom went into the ICU. And so I thought, I don't know how long she's going to be with us. And so I wanted to be with her. So we moved to Arizona, and spent only a year there probably. Year and a half, yeah? Year and a half? Yeah. And the reason that we only spent a year and a half was another story you can hear in a different podcast. But we had to move because of who we were renting from at the time, because we rented we didn't know how long we were going to stay in Arizona. And we were running from the time they needed their house back. And this happened to us twice, again, different podcasts. 

But so at that point in time was working with somebody in Ohio, we partnered with them to sell turnkey real estate. And so we're like, we have to move anyway. So we're either moving to another house in Arizona, or we're moving to Ohio, because we actually have a pretty good thing going with this partner and I really like that strategy. And so we ultimately decided to move to Ohio, and that was 2015. And that's when we really kind of dove into turnkey real estate. And from there, we fell in love with turnkey real estate. It's really one of those investing models that helps you build wealth. But somebody's doing it for you. Because there's so many people in the world with high net worth individuals who are doctors, lawyers, just entrepreneurs, there's just you name it, so many different careers where they have a passion for what they are doing. But they also understand the power of wealth, building wealth through real estate, but they don't have the time to do it, right? 

Using a resource like us to be able to do that and buy the properties have it completely handled for them was something that appealed to us. And to do that, not only for ourselves, but for other people. And that's where it really kind of started, hey, we want to be on this journey ourselves. We actually want to help other people on the journey too. Because more than us want to achieve this dream, right? Right. And hit this goal. So that's when we started in 2017, we actually created Freedom Real Estate Group, right? Yup. And then I'm gonna let you walk through and feel free to hand it off at any point in time. Or you can tell the whole story but walk through Freedom Real Estate Group's creation and how it turned into five companies.

Yeah, so I didn't know if that was this episode or next episode. So yeah, so we started with Freedom Real Estate Group in 2017. And it was just Dani and I, you know, we were plugging it out where we just worked out of our house, it was no big deal. And the reason why is because it just, houses just kept coming to us. We were trying different things, but we couldn't get out of real estate because real estate kept coming back to us. We're like, ugh, I think it's trying to tell us something and so, you know, so we went you know, we did I don't know how many deals are 2017 and that was when we were like we need, number one we need somebody else working with us, we need to hire an employee, we need to find an office. And so then we got Betty. Betty was our first employee and she worked at our dining room. Yup, and then a month later we got our first office and it was the three of us in a 5000 square foot office. That's right. You could have played football in that thing and not touched anyone and but it was, you know, so that was and then it just sort of just you know just went from there. Snowballed. Yeah, it snowballed big time. You know, and then we are working with all these crews that were, well, we won't talk about what these crews were. That is a different episode too. 

But we needed to hire, we needed our own real estate or our own renovations company. And so we had, you know, a bulldog, bulldogs and so we're like we need to call it Bulldog Renovations and so Bulldog Renovations came out. One of the few non-patriotic titles or names of the companies. You know, and then after that we went through I don't know like 45 different property management companies. Also another podcast and so we needed our own property management company and so but to have that we needed our own broker you know, so here comes Independence Property Management, Independence, Real Estate Group. Yeah, Realty Group. You know, and it was just, it was one thing after another, everything was done on purpose because not because we wanted to do it but because we needed to do it. 

It was all built out of necessity. Yes. I think that's the really important part of this story is if you're a turnkey operator, and you're doing things in service to other high net worth individuals, then there's many pieces of the puzzle. The renovation was our first pain point where contractors weren't doing what they were supposed to be doing. They were taking pictures of completed work, it was like a corner of the wall that's painted, and the rest isn't, right? And if you ever run a renovation or hired contractors, I hope you don't know the story. But you probably do. 99% of people who hire contractors understand the pain of them not showing up, of them wanting, you know, to be paid up front only to not do the work, there are so many lessons that we learned. Fortunately, we knew some of them out of the gate, we never paid people first. Because you just quite frankly, can't trust people until you've experienced some time with them. And so out of necessity, we had to build Bulldog Renovations so that we could control everything in house and control the product that we were putting out. 

And then property management, we did try five, or we tried outsourcing five. That was only 5? I thought it was 45. 5 different companies and it was terrible. And I'm not telling you that we're perfect, because I always tell people, we are human like anybody else. And we're building five businesses at the same time. Essentially, over the course you'll see like how fast and one of the episodes, we actually say it's 2017, we just did this, it's 2018, we just did this, we just had to break down a wall in our office because we have so many team members that we grew like way so fast. But all of those things were a requirement and necessity for us to do a good job at the very first one that we built, right? And we're not in this to do a poor job for us or for the people that we serve. And so we just went after it. And we took the you know, approach of we're going to figure it out, no matter and if we fail, we're going to fix it, right? And we told our clients all the time and still do to this day, hey, we're not perfect. If we do something wrong, give us a call, let us know, we now have five companies under one roof, and we can run down the hallway and knock, knock, knock, knock, knock, and fix the problem. Right. 

And so the fifth company actually was acquisitions, because you were in charge of our acquisitions. Yes, I'll let you go into that. Yeah, so I was the acquisitions department. And majority of the deals that we got, like 99.999% of the deals we got, were from wholesalers. And so I had quite a network of wholesalers and I was always following up with them and, you know, getting deals and that made the, you know, that kept the business running. And then all of a sudden, all the wholesalers didn't have deals, and the well dried up, and we're like, oh, we can't, this can't happen here. We need to be in control of this. And thus, the fifth company, Cash 4 Ohio Houses came about. And we created an acquisitions company to constantly bring in leads, because we can't rely on other people for our company to survive.

Yes, that's right. And now we're even on TV. Yeah, ain't that cool? Yeah, it is cool. So inserting other cool things. So anyways, very, very excited about the path of where it came. But those five companies were really the core of what we wanted to build and what we wanted to be able to sustain. And again, it wasn't a perfect road. And a lot of mistakes happen. It was a roller coaster, they always see that graph of an entrepreneur and how they like you know, your road to success is not a straight line. It's just a big, you know, Hill, but you learn a lot, right? And that's what makes you more intelligent, in terms of what you should be doing, how you should be handling projects, how you need to be leading your team, what decisions you should make, what market are you in, all of those things are learned by doing, right? You don't learn them by reading a book, you actually have to dig in, make a whole lot of mistakes, lose a whole lot of money to go, oh, okay, well, now I know how to do this. And that's kind of the road that we went on. 

And, you know, these, the family of companies that we call them, Freedom Family of Companies, was built really with the start of turnkey, where we fell in love. And then as a result had the other five companies but I don't think we would do it any other way. Because having that vertically integrated firm allows you to control all the pieces of the puzzle. And, again, not perfect, there's going to be a day where I'm gonna go, we're close but we're still not there. But there's always hurdles in real estate, one of the things we've always said is in real estate, the great thing is that you never stop learning. Like there's always a new situation, a new regulation, a new something hurdle that you're gonna have to or just something where you go. Whoa, that broke in the house and what is that exactly? Because that's never happened before. So it's really just incredible that of the team. I'm grateful for the team that we've been able to put together and the people who are now in place to really run those five companies because our next and last episode is really going to talk about where we are right now, and how that happened, and what our future looks like on this particular journey because I think this was the destination we were meant to get to. And we're really excited about it. Yeah, super excited. Yeah. 

Well, we hope you enjoyed this episode, make sure you head on over to our website to join the investor club. We've got a lot of things going on before the end of the year, so make sure you're in the investor club. 

But we 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.

Transcribed by

Welcome to our Podcast!
On today’s episode, Flip & Dani's Story Part 3 Continued - Beginning Their Real Estate Journey to Building 5 Companies
Moving back to Ohio
Fell in love with turnkey real estate
We created Freedom Real Estate Group
It was all built out of necessity
We’re not perfect
Acquisitions - C4OH
Your road to success is not a straight line
Join our Freedom Investor Club & Follow us on all social media platforms!
A motto we live by... Invest Smart. Live Happy.