Hey everybody! Flip and Dani here, founders of the Freedom Real Estate Group Family of Companies and welcome to another episode of our podcast.. live.. live. Sorry, I had to add that in there. Another episode of our podcast, which is called Freedom Through Passive Income, live. This is week 25. Yeah, veinticinco Yeah. Right. On week 25 went next week halfway. Yeah. Oh, that's right. Dang. Awesome. So this is a full one. Usually at the end of the week, we're like, what did we do last week? And look at our calendar. This week she walked into the room with a list.
So let's get started. Okay. Well, number one, look at those of you listening, I'm sorry, you can’t see this, that’s right people listen to this. And don't watch it. So anyway, I'm wearing some of our new swag. And it says what does it say? Invest Smart, Live Happy? Yeah. And it's got a little guy with a drink. That's gonna be me in Florida. Yes. But anyway, this is their first delivery. And we got more coming next week. So next week, we'll have more stuff on. Yeah, so we have a swag store. It's gonna be on the freedomcapitalinvestments.com website and like, go through that. Enter. And it's gonna be on the menu and just look for S W A G, swag, swag. Find the swag. And order things. If you have ideas, give them to us. Because we can create anything. We're even going to flip my carrier backpacks all the time, because we travel so much. And we're like, we need to create a you know, FCI swag backpack. Yeah. All those guys in the airport. Yeah. And also just let you know, we make no money off of this. Yes. Because anything, any of the money that is raised by any of the shirts or any of the swag. All goes to fundraisers? Charities, so they do those things. Yeah. We're not making any money off this. In fact, the money I spent to buy the shirt went to charities. Yes, exactly. And we're still in the process of choosing the charities. We're figuring that out. Flip and I are very passionate about a couple of charities. But like we always invite the family of companies in on decisions. So we're all going to have a group discussion and decide where this money goes. But we're super, super excited about it. So you better get to talking. And yeah, I got a lot of stuff.
Okay, self storage Summit. Last Live episode, we told you, hey, we're in the middle of a self storage Summit. We had just gotten back from the power room, we are in your office watching it. We told them about that quote about if you put $100 in 1994 and where it grew depending on the asset class, remember that? So anyways, it was a great Summit. It was Thursday and Friday of last week and developed two partnerships out of that group of people who are experienced in the self storage space. And that's exactly the type of people that we're looking for, in order to partner with to do more deals. You know where there's deals to be had. That's right. I'm super excited about that. That's right.
And you know that we've talked about us moving to Florida. Yeah. The plan was to move to the September, October area unless something popped up. Well, last Thursday, when we were sitting in my office watching and listening to the Self Storage Summit, a house popped up. Next thing you know, guess who is under contract on a Florida House? US! So we ended up flying down last Sunday, we flew out on Sunday to go walk the property and then we flew back to Ohio on Monday. And so everything's going swimmingly. Yeah. The whole process, just had inspections done, got the lenders all set up, and got everything else set up. Yep. It's gonna review the inspection report and just go back to the sellers with what we want fixed or just a price drop. And we'll do it ourselves. Because, you know, we know how to do that. It's not our first rodeo.
Yeah, so that was a whirlwind trip. By the way, man. This has been a short week. I can't believe it's Thursday already. Yeah. All right. We also put a LOI on a 16 unit. I believe it was last night. Our team is walking it today, Ken and Eric and so super excited about that. It's smaller than usual. Then, I typically want to buy like 30 and really 80 plus. This is really, Ken just yeah, he really loved it. But it was funny. Because last night an email came in and I'm like, Oh, we got an email from Ken. And have we bought an apartment? It’s just an LOI. This one went way past. And that's fine. I'm cool with buying stuff and don’t, tell me I'm fine with that.
We're part of a mastermind called legacy wealth. Legacy Family now and I was going to say that oh, sorry. It's now called Legacy Family with Tim Bratz. We actually started that almost a year ago. And they invited us to be Legacy Wealth Academy coaches, yes, because you're putting out an academy of all videos of different things. And so they asked us, and we talked to them on the phone yesterday? earlier than today. I know it was crazy. And so we're actually going to be heading up to Cleveland, which is using a short drive while we live in Ohio, to do the recordings, and so that'll be at the end of next month. But it's very exciting that they asked us to do that. I agree.
Also, we have a multifamily case study meetup today. So we always create lots of groups, we're trying to give back to, you know, the Dayton Cincinnati area investors as much as we can to help, because they help us so much as we've been here. And so this is our last meetup before Flip and I move to Florida. And so we are excited to see everybody today and go through a couple case studies and just help everybody learn.
Yeah. And then we know, we know that we've talked about the 48 unit and or the 56 unit, and this is the 48 unit, because the eight unit where we've chopped that one off, and we're selling it, but this is the nightmare property. Yeah. And so we're in the process of refinancing. And I believe you had a phone call this morning. I did. So the lender wanted to start off our Thursday with a smile. Yeah. So he said that, in the projections of the appraisal, there was an actual appraisal, but he's not allowed to know what the appraisal is. But they came back with new numbers. Based on what we thought we were projecting that it may appraise around 3.5 million, right. And in all of our other videos, if you've watched those go back to the 56 unit horror stories, part one, part two, we go through the numbers. And we were always estimating that the appraisal will come in somewhere between three and 4 million, depending on the cap rate, the NOI and all that type of stuff. So when we went into this refinance, we said let's just ballpark it at 3.5. Well, he called this morning saying, so we are ballparking it 3.5. It turns out that it's higher than that. Sorry, I dropped my mic thing. Yeah. So he said, it turns out that it's higher than that. And so we wanted to come in. And he says, Well, we're not allowed to know the appraisal, but I know that the loan is 70%. LTV. So let me just do some backwards math. Looks like it came in around 3.9 million. That's awesome. Yeah. So he said, Don't get your hopes up or anything yet anything may change, Freddie Mac still has to review it over the next three weeks. But he just gave a huge congratulations to our property management team. Because as a result of their efforts, and making sure occupancy is high and that any of the people were behind, they work with them and get them rental assistance and get collections in and so he said all of that helped that valuation come in. So super excited and shout out to Chris and the gang. Yes, yeah, absolutely. So that's Chris with a C. Yes, not Kris with a K. Yeah, two different Chris property managers.
And then the last thing, before we go is we're raising more money to take advantage of opportunities over the next 12 months. So we've talked about the fact that, you know, there's a recession that is being talked about, we're all feeling it, there's a lot of fear in the air. It's not technically here yet, but likely to come soon. And we've talked about how to create wealth in times like that. Well, as we see, the signs continue to lead that way. We've said, Hey, let's go out. And let's just raise some more money. Because this is the time you want to take advantage of opportunities. And this is the time we want to help you guys, as investors get good returns during a time when a lot of people are not going to get good returns. In fact, they might end up hoarding their money when we talk about liquidity and how liquidity isn't really that great if you're an emotional investor, because you pull it out. And that's not really the right thing to do. It's, you know, put it in there, sit and wait. So we are going to help our investors earn great money while we continue to have some coffers available to grab up some opportunities during at least these next 12 months. And we're going to just kind of keep on watching and seeing how it goes. And I mentioned that to our investor relations team yesterday. And they're like, yes, yeah. And Ben was even just like, man, I've been thinking about, you know, what are we going to do, and I'm just so grateful to see how proactive you are about knowing exactly where you're going to pivot and shift to help our investors help the company as a whole. So it reminded me of the line, be fearful when others are greedy and be greedy, greedy when others are fearful, that’s that Buffett fella. Yeah, that's that Buffett fellow. So as people get fearful, because of the times that we're in right now, we are not fearful. And we are going to take advantage of the opportunity and help our investors get great returns as a result, so that's right, huge win-win, and I'm super excited about it.
Well, awesome. Well make sure you head over to our website, Freedomcapitalinvestments.com and join our investor clubs so that we can hear about all the new stuff that we're doing. Maybe I need to join the club to find out what we're doing. I tell you on Thursdays Oh, that's right.
Make sure to join the club. Also make sure you get the swag. Make sure you have that should be on the website soon. If it's not there today. It'll be there very very shortly. But make sure you hit the like button, subscribe button and all this stuff that you're supposed to be doing. Yeah, yeah.
But anyway, we'd like to end all of our episodes with Invest Smart, Live Happy, sorry. And watch it. I'm pointing at my shirt you're listening to. You don't know what I'm doing. I'm pointing out that his big dramatic pause was him pointing at his shirt.
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 the show are not guaranteed. All investment strategies have the potential for profit or loss.
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