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.
And this episode is entitled this welcome to another episode. Yes, yes. Forgot to say welcome. This episode is entitled Best Way To Build Trust. Yeah. And we were just talking about this one before we pressed record and the best way to build trust is to, this not something that you can say, Hey I want you to trust me, and that's first thing that's never going to work. Yep. If the second that somebody says I want you to trust me, it's usually because you're not going to. But first and foremost is to tell the truth. Be open and transparent. Be an open book.
That's the biggest way people are going to trust you is when they can see everything about you. And there is no questions. Yeah, there's no oh, what's this guy doing? Is he shady? Yeah, if you're open and transparent, they're going to know that you're not shady.
Yeah. And being truthful about things that you don't know, I think people are really afraid to say the words, I don't know, especially if they're just starting out. So I think the people that have hard time building trust, are the people starting out, because they don't have that experience and that track record behind them. So they're trying to figure out, how do I do this? Because I'm an honest person. But then when they don't know something, they don't feel they feel like if they say, I don't know, the person is not going to trust them. Right, when it's exactly the opposite.
If you tell me I don't know. But I will find out. Thank you, you just built one little small pebble of trust, because now you didn't try and fib your way through the answer which would have killed my trust, and I would have left immediately. So I think that's a big thing. I also think about talking about issues as they come so and what you're going to do to fix them. So especially in the real estate world, and in rehabs we know Shiitake happens.
Yes. And it happens on every deal no matter what nothing always goes right. There's always a hiccup, whether it's a very minor hiccup, it means nothing, or it's a huge hiccup that means $40,000. There's always a hiccup. And depending on the communication level that you have, with the person that you're trying to build trust with. For us, it was building the company and building the team. And so the communication within our team had to be like, Hey, we screwed up here. Right? And so what are we going to do to fix it? And how are we going to prevent that from happening again, even if it's possible, because sometimes you can't prevent it. You can't look beyond the walls of every single house right when you go walk it. So I think that's a really, really big piece of it. Some, like if in our private lender relationships is the perfect example. Or even syndications. When things go wrong, I think it's important to communicate.
Remember our senior housing. Yeah. So that was a perfect example of letting them know why we opted out. And it wasn't for lack of trust in the operator who we were partnered with. It was the fact that he was entering into a new geographical location. And we didn't want to be the test subjects of that guinea pigs. Yeah, of that new footprint. And he had good track history behind it. But you and I would have kept investing, we would have put our money on the line, right. But we didn't want to put our investors money on the line. That was that's a totally different level of, not only do I care about your money, like I care about my own, I care about your money more than I care about mine. Exactly. So I think that's another example of how we, we've built trust in scenarios that happened and how we conveyed it to our clients.
I do know that when we first started out, we didn't we never said the words. I don't know. It was always I'm not sure about that. Yeah, it was always a word game, because you don't want to when you say I don't know, they people just , they might shut down. Yeah. And so we always had a little bit of a word, just to I'm not sure about that. Or, what I'm not, I'm not 100% positive. So let me look into that. Yeah. And so it was just a nice, better way of softening the blow. Yeah.
Well, I also printed out Jeff's email. Yeah, let me read this actually. And so this is in response to a property that we were selling. Yeah. And he said, and we a little pre preamble to this is actually we were 100% honest, and we are 100% truthful. We did not sugarcoat a thing with this property. And it would make most people most investors run for the hills. Not all investors. Yeah, but most investors.
This particular investor was experienced. And so I was like, we're just going to go ahead and tell them what's going on to the property. Let him opt out, he might not opt out because he's an experienced investor and he gets what we're going through. But at the very least we've put it in front of him. And this is how he replied that he says, I so appreciate your transparency and honesty in this situation. To me, that's what builds leadership, credibility, and most importantly, trust in an investment partner. And I respect you guys that much more. Thank you for answering the questions and your transparency in the current state of the property. As I mentioned in my earlier email, that transparency and honesty really helps solidify the reputation that you carry with investors like myself. I know I've done several deals with you and continue to build up on it with this trust.
Yes. Yeah. And that's true, because it's trust is what's that? Like, the graphics? Because a curved line? Yeah, no, it's not a straight line, trust doesn't go like this just goes like this. And then and it's just it goes incredibly, because, you start a little bit a little bit, and then it gets bigger and bigger and bigger. And some people might say, I can't tell him that I'll lose them lose him as a client. Well, again, the opposite happens when you do it. Like it's counterintuitive to be just 100% all out there and talk about your mistakes. Yep. People don't want to do it. They have no idea, the impact it has on your business and the trust it builds of people around you. And then there's also the people that just do whatever it takes to get the sale. Yes, yeah. No bueno. No bueno. Yeah. Not in our company. Darn it. I think that's it. Yeah.
Well, so we hope that you enjoyed this episode. Make sure you're heading on over to our website, www.FreedomCapitalInvestments.com to join our Investor Club to find out all of the behind the scenes, secrets of what we're doing in the background.
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But we like to end all of our episodes with Invest Smart. Live Happy. Bye everybody.
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