Freedom Through Passive Income

Ep 351 - The Investing Vehicle You Choose Isn't as Important as This

December 17, 2022 Flip & Dani Robison Season 1 Episode 351
Freedom Through Passive Income
Ep 351 - The Investing Vehicle You Choose Isn't as Important as This
Show Notes Transcript Chapter Markers

One of the things that people say all the time is, I'm not sure how to evaluate one investment against another. They just get confused, locked up and paralyzed. When you get paralyzed, it's hard to make a decision and it's hard to move forward. So we thought that this topic was very relevant to the course that we're creating, which is going to help people get more educated. And once you're more educated, you get comfortable with something.

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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 welcome to another episode and this episode is entitled, "The Investing Vehicle You Choose Isn't as Important as This".

I love this episode, because one of the things that people say all the time is, I'm not sure how to evaluate one investment against another, right? Whether it be ATM investing versus self storage investing, or retirement assisted living facilities versus multifamily. They just get confused and locked up and paralyzed, trying to evaluate, what am I going to do? Am I gonna buy a turnkey property? Am I going to be a private money lender? Or am I going to invest in a syndication? Am I going to what? Invest in a fund where it can be more hands off. 

And, you know, when you get paralyzed like that, it's hard to make a decision and it's hard to move forward. So I thought that this topic was very relevant to like the course that we're creating, which is going to help people you know, get a little bit more educated. And once you're more educated, you're comfortable, right? You get comfortable with something. And that something is usually what you dive into, and starts taking you down the path of where you want to go to achieve all of your desires. 

So this is meant to talk about it doesn't matter. The investment vehicle isn't as important as the team. And this can be preached to active investors and passive investors alike. If you're an active investor, whether you're investing in single family homes, or flipping single family homes, or you're flipping small apartments, or you're flipping large apartments, self storage facilities, whatever it is that you're doing, as an active investor, your team is more important than the vehicle that you chose to provide you and the team income. And why is that? It's because you and your business is as good as the weakest person on the team. Right? 

So you and I have really, we just have a lot of pride in the type of people, right? The who not how, we really look for the who's of the business. And then we all have faults, we all have leadership issues, we just work on them as a team to build each other up and to make the chains around our company strong, so strong that even if there's a little weak link, we're all like helping that weak link or, you know, we're pounding it in, we're doing the solder gun, whatever it is you boys do when you strengthen chains. Hahaha! Um, but that's what we do. I've never touched a solder gun in my life. That's it. That's the only example I could think of is I'm thinking like this, like really gigantic, you know, big link strong chains, and how that with that, we can invest in anything that we want, right? 

It's the team that's going to take the action and move forward and make it successful, right? And I feel like passive investing is the exact same thing when you're confused, and you don't know exactly where to go. There's some times that there's good investments, led by a bad team that turns that good investment into a bad investment. And we've recorded podcasts about that, right? About this is a good deal until bad management took over and turned a good deal into bad. So it's the team that matters. So even if you're a passive investor, find the team that you know, like and trust, a team that's going to treat your money like it's their own. If you're an active investor, a team that's going to treat the business like it's their own, you have that then you can do anything that you want. You can go as far as you want to go. You can dream as big as you want to dream. 

It's why like, as many like, Tina, and probably Tiffany would do this too. If I think of a new business idea, it's like *Buzzer sound*. They're just like, stop! I dream big because I can, right? Because we have an outstanding team. And I just feel so confident in what we can do because of the team behind it. That no matter what direction we choose, we have the resources and we have the people to make it happen. And it doesn't mean we're perfect. We say that all the time too, not perfect, never going to be perfect. That's a goal I don't even want to try to achieve because it's not possible and I want to live a fulfilled life and not being disappointed that I'm not perfect. But I don't know what I mean, I'm gonna just gonna let you take over from here, because I kind of said, what I wanted to bring across in this, is that it's the team that matters. Everything else in my opinion is secondary.

Right, right. Well, you know, the thing is, is the whole, you know, you're strong as your weakest link. Yeah. And there's been something I've said numerous times when we've had to hire people, is that they always come into the interview process. I'm an A player, you know, they have this great presentation. And I always say, well, you know, what, we're going to find out if you are or aren't, you know, because your true colors will show very soon. And we've had people come in, and I mean, we've got between the Philippines and remote here in the United States, and just, you know, everywhere in our company, we have as many as 50 plus people working for us. Yeah. I remember, there was one that came in and, you know, we didn't hire them, hired by somebody else in the company. And they came in just all gangbusters. But they weren't like a huge part of the company. They were much, not smaller team members, but they didn't have as much, their role was smaller compared to, you know, a majority of the company. And we watched that person just diminish and diminish and diminish, and that, and I'm thinking is really not going to affect much because of who they are, and their role. But man did it, you know, it really did and just even the amount of emotion and energy that that person was sucking from everyone else, because he wasn't doing his job. Yup. You know, it was just like, but I'm like, it's this little position, how can this little position affect all these people, you know, and then the one quote is "Hook a long chain to your truck and to a tree that you want to pull out on the ground. If one of the links is weak, guess what happens under pressure? It's going to break. And it's just, it's so true. It's just because you're like, whatever he said, it's not going to matter. He's not going to really distract. But it did worse than anything. And so it's until you see it firsthand, because I'm just like, nahh. Right. Right. 

And, yeah, you also bring up a good point, because we certainly haven't hired the best people out of the gate. It's been five years in, right? Into the Freedom Real Estate Group Family, from its inception in 2017. But we've had hiccups in hiring, right? And sometimes they, it was proven that they were not the best team members and the honeymoon phase of, you know, that interview and getting to know them, you know, just kind of died really, really quick. And we had to let them go. And that's happened. You know, even recently, in the last year, we've had to let some key roles go because they weren't as strong as we needed them to be. Yup. And I don't know that was ever not a culture fit. I think we're pretty good at hiring culture fit. But it doesn't mean that you're a strong player and that you're the WHO for that seat. And we're really really adamant about finding those who's, who are going to come in there treat this like their own. care about the team like it's their family, because it is for us. And you know, just give it their all. For us, the team investors, everybody, because we all succeed together. And there's nothing more fun to me than that.

That's right. That's right. Yeah, I always think of it as like a horse race, you know, when the bell goes off, and all the horses go. And it's like the people that we hire, they're boom, they're right there with us and all of sudden we get around the corner and get around in the back. And all sudden they start lagging behind and we get around to the finish line. And here's the rest of our team and they're like, left behind. 

We hope you enjoyed the visuals. That's funny. I love it. Well, awesome, we hope you enjoyed this episode, make sure you head on over to our website, to join that investor club. We've got a lot of stuff still going on at the end of this year. A lot of stuff going on next year. 

We're all over social media. So make sure you check us out there, reach out, say hi, tell us how we're doing, ask any questions you want. 

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, The Investing Vehicle You Choose Isn't as Important as This
When you get paralyzed, it’s hard to move forward
The investment vehicle isn't as important as the team
Who not how
A team that's going to treat the business like it's their own
Not perfect, never going to be perfect
You’re as strong as your weakest link
We've had hiccups in hiring
Join our Freedom Investor Club
Follow our social media accounts! Link down below.
A motto we live by... Invest Smart. Live Happy.