Freedom Through Passive Income

Ep 361 - 2022 - The Good Times

December 27, 2022 Flip & Dani Robison Season 1 Episode 361
Freedom Through Passive Income
Ep 361 - 2022 - The Good Times
Show Notes Transcript Chapter Markers

Here we are towards the end of the year, there's not very many episodes left. We thought this would be a great time to go ahead and reflect for everybody, including us. What we saw that was good and tomorrow, we're going to talk about what we saw that was tough here in 2022. And we think that's a healthy thing to do, as you are preparing for a new year to look back and talk about what was good and what wasn't. 

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Today, we are going to talk about the good times of 2022. After years of building our family of companies, we hired our C.E.O., Aaron, in 2022.  Aaron helped to build a culture that has become the foundation of who we are at the end of the year and helped to lay a path for future growth. Aaron also empowered our team and fostered the cross communication that help our staff grow and be more transparent between entities. We closed on three acquisitions in 2022: a 129 unit property in Mississippi, Serena Gordon, which is a 48 unit property in our backyard and Riverwood, which is a 16 unit property in our backyard. We also developed a relationship with a great partner and are about to close a deal in North Carolina that we can't talk about because it's not closed yet. We also closed on two dispositions in 2022:  a 384 unit property which made FCI profitable in its first year of existence, the 8-unit Grimes property and we refinanced the Pine Ridge property. We also started a seventh company, moved to Florida and we are most thankful because we are still here to share with you!

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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. Welcome to another episode, and this one is called 2022 - The Good Times. Yeah, and I don't know how it's gonna come out on the recording, but it was really funny that you froze for a second. So the intro came, really fast. And part of it, you were like, it was just cute. So for those of you watching the video, you're gonna get a kick out of that one. For those of you listening. I can't wait to see it. Nevermind. 

So, yeah, I thought, again, here we are, towards the end of the year, there's not very many episodes left, I thought, wow, this would be a great time to go ahead and reflect for everybody, including us. What we saw that was good. And tomorrow, we're going to talk about what we saw that was tough here in 2022. And I think that's just a healthy thing to do, as you are preparing for a new year to look back and talk about what was good, what wasn't. 

And so I'm going to start with the impact of hiring a CEO, there's been many people who have talked to me and, and said, you know, how's things going, because it's really, really hard to hire a CEO. And replace yourself, especially when things might not be run the exact same way that you ran them before. And I continually see said over and over and over again that it was the best thing that we could have done is hire that CEO. Because at that point in time, when we were ready to make that move, we had spent years of long, long, hard, crazy roller coaster nights and weekends and days. And it was just tough. And we were at a wall. And we're at the point where we needed a break, right? We needed somebody else at the helm, to take it so that we could kind of regain our inspiration and love for what we were doing, especially in light of the fact that we were building out a sixth company at that point in time. So that I feel like was one of the really, really great things about 2022 is having that CEO in place. 

And then I wrote down a bunch of things with regard to the impact. Right? Everything wasn't perfect, right? Nothing ever is and you should never, ever expect things to be perfect. But you can always reflect on it, the really powerful things that happened, that changed for the better that you're going to now take with you and launch into new years into new businesses because you've learned some really incredible lessons. So some of mine are the culture that Aaron created within the company, we already had a great culture, we spoke on culture many, many, many times. But he created it in a different way in terms of leadership, in terms of empowerment, in terms of trust, in terms of how you treat each other, right? Healthy disagreements are okay in a company. And if you have a disagreement, it's okay to talk through it and talk with the person not to talk behind somebody's back, or go complaining to the CEO or blaming somebody else. So those healthy conversations and to say things with love, right? Because you really, we all care about the people that we work with. We call it FREG family for a reason, right? We care about every single person on the team. And even if you disagree with them, or you're upset with them because of something that happened, taking that encounter and doing it with love and care and kindness is a game changer, and I think it impacted me the most because I am such a like high energy and crazy like person that when I'm happy, I'm freaking happy when I'm angry, I'm freaking angry. And those swings of emotions can come across, you know, really, really easy. And a leader really impacts you know, how everybody else leads, and how they interact with each other. And as a leader, if you're interacting the way I typically interact with those strong swings of emotions, that isn't as beneficial as the way Aaron reads, with kindness with pause with just thoughtfulness. So, for me, that was one of the things that I wanted to talk about in this episode is one of my favorite things of 2022. What about you?

Yeah, you know, it's interesting, because, you know, when Aaron came on and, you know, so we were talking about hiring people, right? Yeah. The interview process, everyone shines, right? And you're like, well, let's see what really happens. Because you're only hoping that it's going to continue that same and it, not only did it got better, and, you know, one of the things that we had always done is, you know, with creating the six companies or the five companies at the time and we kept the companies going, but we made sure that one company just dealt with their stuff, you know, don't worry about everything else, just deal with your stuff, get your stuff down. And when he came on board, and he just said, No, we're all one big happy family, you know? And I'm just like, oh, okay, well, let's see how this goes. And it was, it's awesome. You know, and now you got the people in this company over here asking the people in this company, Hey, what happened with that? And they're talking to them over here about, you know, and everyone is just, and it's that he brought everyone up. And, you know, and you talked about it and empowering them. And just, it was just because, on one side, you know, it's like on paper, but yeah, that could work. But he proved it, you know, and I just really like the, you know, just how that really helped me because I mean, you know, he's like, Well, you know, I think we can improve the culture. And I'm just like, whatever. I buy Snickers ice cream bars, man, come on. You know, but, you know, and it really wasn't you know, because, yes, we've always called it family of companies, we call the family companies before, you know, we hired our fifth person, you know, before we even knew who Aaron was, and I think the family really became stronger this last year. It's a much stronger bond and just a much healthier family, I should say.

Yeah, I couldn't agree more. Another one I have on our list is we are able to build out FCI in 2022. And do this podcast. And that's actually something that we talked about with Aaron, just the other day. He said, You know, I'm happy to be a small part of the win of you being able to have the time and mental energy to pour into FCI and get that built out. And so he was very, very right, because I don't know that we would have been as successful as we were in that company, had we had to have mental energy put into the other five, you know, during this past year. So I wrote down some of the cool things like, we did four acquisitions and three dispositions in 2022. Right? The first full year in business that is just mind blowing that we did that is crazy. That's crazy. Yeah. So we had already purchased Lake Forest, which was the 384 unit in Florida. That was our very first acquisition, but that was 2021. So I wrote down what we did in 2022. The four acquisitions were Ridgeland Ranch, which is a 129 unit, Mississippi, Serena Gordon, which is a 48 unit in our backyard, Riverwood, which is a 16 unit in our backyard. And we're getting ready to close on a deal in North Carolina that we can't talk about because it's not closed yet and it's a 506(b). But I'm so thankful for it. I can say that. 

So four acquisitions was kind of what we talked about with other coaches and mentors in this space saying, hey, four a year, that's good. And I'm like, we just did four in our first year. Like that's just crazy. And then our three dispositions where it was we did sell Lake Forest which is the 384 unit. So that was really nice. It's what made FCI profitable in that very first year, 2022. We sold Grimes which was a personal win for you and I because that was ours, and we refinance Pine Ridge, which again, personal win for you. And I'm because that was our first apartment complex. So those are huge, huge wins for 2022 when we weren't even focused on five other companies, right? We were just focused in our lane and to have this many wins in this one lane of the first year of business was really mind blowing and exciting.

Yeah, typically anyone who jumps into this space, I'm sure we'd be happy doing one deal a year in their first year, but no, we did four. And sold two and refinanced, yeah, yeah. The other thing too, that is not mentioned on here, is that we actually dipped our toe into a seventh company, which is private money. Yeah. That's right. And so that's going to come around the corner before we know it. I mean, it's already around the corner, it's coming down the stretch. But the last thing about 2022 is we kept saying we're gonna move to Florida, we're gonna move to Florida, you know, we're looking at houses and one just fell in our lap and we're just like, you know, this is the one and next thing you know, we're flying down to Florida to look at it and you know, and it was, it's not a money pit, you know, like the Tom Hanks movie, but it was also, it was not ready. We spent a penny or pennies, fixing it up. We spent a lot of pennies, yeah. But still it's in Florida and we get to live there with the snakes and the cougars and the Panthers and whatever else coyotes and yeah, yeehaw! 

It's been a really great year. And for those of you listening, I apologize for any of the pauses that you hear in this, we'll try to edit them out a little bit, Flip, you froze twice, just so you know, it wasn't long, it was no big deal. But this is what happens when we're having to record in two different states to be able to finish out this 365 day podcast. So super exciting. 2022 was a great, great year and I'm thankful to be able to sit here and talk about it with you. I'm probably, that's what I'm most thankful about. We're still here alive, healthy, well, continuing to grow our businesses and celebrating a great year.

Weeha! All right. Well, we hope you enjoyed this episode, make sure you head on over to our website www.FreedomCapitalInvestments to join the investor club. We've got just a couple more things going on the rest of this year and we got a bunch going on next year. So make sure you're joining that investor club so you can find out firsthand what we're doing. 


But we'd 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 https://otter.ai





Intro
Welcome to our Podcast!
On today’s episode, 2022 - The Good Times
Impact of hiring a CEO
Great Culture
We’re all one big happy family
Building out FCI & Our podcast
4 acquisitions & 3 dispositions
7th company & Living in Florida
Join our Freedom Investor Club & Follow us on our social media!
A motto we live by... Invest Smart. Live Happy.
Disclaimer