Ep 169 - Our Journey Episode 1 - Why Real Estate?

Everyone has their own journey but how can we help? We would like to create paths for different people. This 12-part series aims at meeting the needs of investors and realtors alike. Here’s our experience that could  guide your adventure whether you would like to do rehabbing, renting, turnkey journey, multifamily world journey or even the passive income journey. 

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Why are we going through these 12 episodes? Because as we create the paths to everyone, we're going to do a little video that says, hey, if you're this type of investor, and this is what you're looking for, here's the videos that we've created, and the ones that you should watch in order to determine if it is right for you or not. So on this series, we're going to go through a bunch of pros and cons of what we felt about each stage. At the end of the series, you're going to have a better idea about which path is for you.

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Transcript

Hey everybody! Flip and Dani here, founders of the Freedom Real Estate Group Family of Companies. Thank you very much. Welcome to our podcast and our podcast is called Freedom Through Passive Income. I’m trying to change it up just a little bit. Welcome to another episode and now this episode is a 12-part series so the next 12 episodes are going to be about our journey. 

For those of you not watching and only listening, I swear this stuff that Flip does while we are sitting here is such a goofball. I bet you are not watching. So this is "Our Journey and Why Real Estate." And anyway I know we have touched on it bits and parts and here and there. In fact, I met with a friend not too long ago and he said so how did you get from..what…how.. So this is really what it is, and our team is always brainstorming on how we can help people best on their investing journey. Everyone has their own journey but how can we help. Yes, and so that's really what it is all about because we're trying to create paths for different people. Some people are interested in actually finding the deal themselves rehabbing it and renting it out themselves. That's one journey. Some people are interested in the rental properties, but they want it done for them. So they're on the turnkey journey. 

Some people are in the multifamily world journey, some people are just in the passive income journey, they don't want anything to do with any of the active stuff, they just want to passively invest. So there's many different journeys. And so we thought how best to kind of approach this method of teaching and helping by talking through our journey, right. 

 So that's why we're going through these 12 episodes. Because as we create the paths to each, we're going to do a little video that says, hey, if you're this type of investor, and this is what you're looking for, here's the videos that we've created, and the ones that you should watch in order to determine Yes, it's right for you. No, it's not right for you. And that's really kind of the idea. 

 So on this journey, we're going to be going through a bunch of pros and cons of what we felt about each stage. So as we insert these journeys into different paths for people to learn from, they'll be able to go, Oh, I didn't think about that. Right, or, oh, that sounds awesome.

 Yeah, so really, at the end of the series, you're going to have a better idea, based upon things that we saw, now you might see things, different things. Yes, this is just based upon what we saw. So hopefully, that helps you, get a better grasp of this. Without having to, jump in with both feet.

Absolutely. Absolutely. So and there, we want to say this, there's no right or wrong. So we've put, I think, five factors at the end of every single video. And I say we think because I'm the one that wrote them. But I can't even remember how many there are, but I think it's five. And so here they are in case I miscounted. It's your risk tolerance, your time availability, your knowledge, your inner circle, and your access to capital. Those are all factors that I think that you need to consider as to which road or path that you want to go down. So at the end of each episode, we'll talk about all five and just candidly rate where we think all five lie. And when I say candidly, I didn't put ratings, I just put listed the five at the end of each of these scripts, so that we could just very quickly say, here's what we think about these five things. And then you can decide if you'd like this strategy that we did on our journey,

 Right. And I think it's 5.1 because I just thought of one that was different, and we'll get to it on that episode. I don't want to jump ahead.

 o, you're just going to add one location. Oh, that's interesting there that there are some that will be location we will mention that that's good point. Okay, so today we're going to start with why real estate? So do you want to share the story of kind of where we started and why we chose real estate? So I was born, and oh my gosh, okay, eight minutes. is our goal for each episode.

 No. So So Dani and I are both trumpet players on cruise ships. And I'll spare you from the pictures for those of you that are watching. But while we were on cruise ships, we had a lot of time on our hands. And so we started working with the art auctions that are on cruise ships because they actually have art auctions on cruise ships like real art like Rembrandt's and Chagall's and Marose and Dali’s and so it was so impressive stuff. And Dani found out how much the art auctioneer made. And next thing I was an art auctioneer. Little did I know. So anyway, to see me running through the door and going you're going to be an art auctioneer. And so, we did that while we're on cruise ships. And then we were promoted from cruise ships to the quote unquote land team. And then we did it every other weekend, traveling all over the country. And we did that for a number of years until Dani just said, You know what? I'm done. She was done traveling. I was, another another travel I had another flight in the back of the airplane, it was just like, Okay, I'm done. And so then we did a little bit of a transition for Dani and you went into insurance? Yes. And then you got your that you did a couple of series 63. Yep, yep, yep. And so you did that for a little while until I believe the quote was, when you came home one day, you said, I'm sick and tired of talking to people about dying. So Dani went into the mortgage industry. Yes. And then so then you worked for a mortgage company for a little while. And that was where you met a key member? a key factor in all of this. Esmeralda? Yes. And because she was working at the mortgage company, too, but she was also at the time working to become a real estate broker, I believe, yes.

 And she was like, you guys should be realtors. And at this time now in my career of art auctions, this was right around the 2007. Area beginning in 2008 actually, and this was the beginning of the fall of everything in the real estate world, in the market, and it was really difficult to sell artwork at that point. And so, I left that position as well. And we spent the summer going, what should we do? And that was when you were getting in the ear from Esmeralda. You guys should do real estate. And so that's what we did. And when what do you do when you go into real estate? You get your license. And so Dani and I studied that was the summer of 2008. We studied that summer and this was before everything was online. And so like we had to take all the classes, and we did all the classes. And we did, we took the test. And we passed the test. We both thought we failed, because it's a mortgage. It's the broker test with the salesperson test. And so there's all these questions on there for brokers, and I thought I failed. But anyway, so we passed, we got our license, we and we boom, we're realtors, and we're working with Esmeralda. And we were like, here comes the deals. And that's what we're going to talk about on Episode Two.

 I let him know that yes, yeah. And for those of you listening, when he said, Here comes a deal. He put his hand on top of his forehead as if he was searching and he was on a boat looking for another boat or anything in the distance. You totally have to remember to describe these things. So okay, so that's really why real estate and why we started off or how we got to the land of real estate, where this journey is going to start for you. 

 So this was episode one. So like I said before, we're going to talk about five things. Risk tolerance. So risk tolerance for real estate. In my opinion, it depends on the strategy. Yeah. Oh, absolutely. Yeah, yep. Okay, so time availability. We had all the time in the world, yes. But it also depends on the strategy, right? Depends on what you're doing in real estate as to how much time you need to be able to do it. Yeah. Number three knowledge. Well, we just passed a test. So we have all the knowledge in the world. We did, but when you're beginning, it depends. Again, I hate to say it on your strategy. But if you're passive investing, you need to find a team that has the knowledge that you trust, right and that you're comfortable with, based on your risk tolerance. If you're going to do it yourself, you need to go gain the knowledge. So whatever it means for you, whether it's going to realtor glasses, if you're going to be a realtor, if it's going to flipping mastermind, if you're going to be a flipper, or whatever that means you need to gain the knowledge. Inner circle. My opinion it matters based on the strategy, I think this one's going to be all strategy except for number five. It matters based on the strategy some of it, you need the inner circle, some of you don't. Certainly when you're a realtor, you need the inner circle. We're going to be talking about that in the next episode. But some of it not necessarily you can go find your inner circle you don't have to have it from the start. So and then number five access to capital depends on strategy. Yeah, exactly. So we just answered all five with depends on the strategy. Okay, there you go. We are concluding episode one.

 And coming up next on the next episode. Flip and Dani are realtors. Yes. Ah, well, we hope that you enjoyed this episode, head on over to our website www.FreedomCapitalInvestments.com to join our Investor Club to see all of the things that we're getting into over there. 

 And also coming soon if  it’s not already there by the time this one airs our new FCI swag.

 Yeah, that's all right. But I won't hit the like button if you like the idea of this whole 12 part series. We hope that you liked this because this should be a fun journey for us as well. Little walk down memory lane.

 That's right and hit that subscribe button and the little like ring the bell thing. I think it notifies you whenever a new episode is released. Oh, look at that. If you're on YouTube, if you're on the podcast, there's different ways to do it. I think you should just subscribe to our thing. I have no idea. I think Siri just knows what you listen to. Everybody here most likely knows how to do it already. Yeah, exactly.

 But we'd like to have all of our episodes with Invest Smart. Live Happy. Bye everybody. 

 Disclaimer: 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 on the show are not guaranteed. All investment strategies have the potential for profit or loss,

Transcribed by https://otter.ai