Flip & Dani review week 25 videos and give you their top takeaways for each episode. Whether you missed an episode this week or just want to hear our top takeaways, you’ll love these weekly recaps!
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This is our week in review with Key Takeaways from each day.
Episode 169: Our Journey Episode 1 - Why Real Estate
(1) This series could guide your adventure whether it’s rehabbing, renting, turnkey, multifamily or the passive income path. (2) The 5 factors to consider when deciding which road or path you want to go down: Your risk tolerance, time availability, knowledge, inner circle, and access to capital.
https://youtu.be/l4abU4Nnh5M
Episode 170: Our Journey Episode 2 - Pros & Cons of Being a Realtor
(1) Ultimately the Realtor path was not the right path for us because we did not have an inner circle network when we started. (2) Out of the 5 categories the ones you need as a Realtor are Time Availability, Specialized Knowledge, and an Inner Circle. The 2 that aren’t that important are Risk Tolerance and Access to Capital.
https://youtu.be/k8-mj7HYtiE
Episode 171: Our Journey Episode 3 - 12 Ways to Buy & Sell Real Estate
(1) It took 8 months to close a deal as Realtors so we decided to look at Real Estate Investing and started off with Short sales and mortgage assignments. (2) After closing our first mortgage assignment we realized how much faster the process was compared to short sales which seemed to drag on, so we switched our focus to mortgage assignments.
https://youtu.be/v8FZPqAQHGs
Episode 172: Our Journey Episode 4 - What is a Subject To / Wrap Around Mortgage?
(1) Subject to means purchasing a house subject to the existing mortgage. All that means is essentially taking over the mortgage. Then a wraparound mortgage means to sell the house and wrapping the buyer’s new mortgage around the existing one. (2) Here is the 5 category breakdown, you must have a high risk tolerance, loads of time available, a ton of Specialized Knowledge, and an Inner Circle, especially attorney contacts. The one category you won’t necessarily need to get started with these is access to capital.
https://youtu.be/DZXqA2xkLSk
Episode 173: Our Journey Episode 5 - Seller Financing for the Win
(1) Seller Financing is when the seller takes the equity they have and creates a note. They are the bank lending to the buyer. (2) Sellers that are savvy enough to be agreeable to this type of structure are usually agreeable to good terms like 2 4 6 % or something very, very reasonable.
https://youtu.be/JvjsPlgnpXc
Episode 174: Week 25 Live Progress Update
Dani’s favorite was the good news call from the lender regarding the 48 unit refi. Flip’s favorites were getting the Florida house under contract and the new Swag store at freedomcapitalinvestments.com is up!
https://youtu.be/IdmCt0J8oL0
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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, LIVE. You like that, you gotta get in the Jazz hands. Welcome to another episode this is our weekly recap and key takeaways week 25, veinticinco. Alright. Oh, and of course. Oh, fun shirt. Happy Fun Shirt Friday. Good Friday. Yeah, that's right. Yeah, I had to create a folder on your phone of all the fun shirts I wear. I know which ones are which. Make sure you don't duplicate them too often. I wore this one earlier this year. Oh, my goodness. You're funny.
Anyway, alright. So back to last Saturday? Yes, yeah. Yes. This week has been crazy. Yeah, it has been crazy. Episode number 169. Our journey episode our journey. Episode One why real estate. So key takeaways. This 12 part series is our experience that could guide you in your adventure whether you would like to do rehabbing renting, turnkey, multifamily or passive income path. Another takeaway is the five factors to consider when deciding which road or path you want to go down: your risk tolerance, time availability, knowledge, inner circle, and if you have access to capital. That's right.
And episode 170 was episode two of our journey, pros and cons of being a realtor. First key takeaway was just like anything else, there are pros and cons to choosing the realtor path. Ultimately, for us it was not the right path because we did not have an inner circle network when we got started. key takeaway number two is out of the five categories. The ones you need as a realtor is time availability, specialized knowledge and inner circle, which as you know by now is majorly important. The two that aren't that important are risk tolerance and access to capital. That's right.
Episode 171 Our journey episode 3, 12 ways to buy and sell real estate. So takeaways are the power of the pivot. It took us eight months to close the deal as Realtors so we decided to look at real estate investing, and started off with short sales and mortgage assignments. If what you're doing isn't working, change it. When you're hitting your head against the wall. The only thing that's moving is your head. Another key takeaway is after closing our first mortgage assignment, we realized how much faster the process was compared to short sales, which seemed to drag on and on. So we switched our focus to mortgage assignments, find what works for you and be bold enough to let go of what doesn't. That's right.
Episode 172 was episode four of our journey. What is the subject to and wraparound mortgage key takeaway number one, what is the subject to? subject to means purchasing a house subject to the existing mortgage all that means is essentially taking over the mortgage. Then a wraparound mortgage means to sell the house and wrap the buyers new mortgage around the existing one. key takeaway number two, here's the five category breakdown for sub two reps, which breaks down similarly for short sales and mortgage assignments too. you must have a high risk tolerance, loads of time available, a ton of specialized knowledge and an inner circle especially attorney contacts, the one category you won't necessarily need to get started with is access to capital. Absolutely.
Episode 173 Our journey. Episode Five seller financing for the win for the win. Key takeaway seller financing is when the seller takes the equity they have and creates a new note. They are the bank lending to the buyer. Yes. Another key takeaway of sellers that are savvy enough to be agreeable to this type of structure are usually agreeable to good terms like 2 4 6 percent, or something very, very reasonable. Yes.
And episode 174 was our live that we just recorded yesterday. So usually I have two key takeaways written down but I forgot to do that before we started recording. So you and I are gonna wing it. I'm going to choose one and you're going to choose one. I already have one in my head because I saw the blank space and went, haha, let's just wing this one. So my favorite is going to be the refinance and the good news call we got from the lender. And if you don't know what that good news call was, you're gonna have to listen to yesterday's episode. What's your favorite? Well, I'm gonna have to say mine's a combination of two. Okay, so last week, well, we were gone for three days with a mastermind when we came home. Someone booked a two day Self Storage summit for us to watch immediately after we got home. I don't know who that was. Me. And so while we were in my office listening and watching the Self Storage Summit, which we talked about, we always said that if a house pops up in Florida that would check all the boxes and that we really like it, we'll jump on it. Yep. And so we jumped in the house. Well, not really jumped on it, but we sent an offer in almost immediately. Yeah. And then we had to fly to Florida to walk the property and then fly back the next day. Yes, I really don't know what day it is right now. It's been a week. So if you could leave a message below this and say, Hey, Flip it's Friday. I don't know. I really don't know.
But make sure you head on over to our website www.FreedomCapitalInvestments.com Yep. Yeah. Because yesterday in the live video, I had one of our new shirts on. Yes. Invest Smart, Live Happy on it. That's right. And the guy that's laying on the lounge with a drink in hand. Yes, that was me. Yeah. I posed for that. But yeah, so now we got swag on the website. Yeah, where it should be there. If it's not there. Now. It'll be there soon. Yes.
Make sure you're joining the investor club because I found out about a 16 unit. And so maybe if I join the investor club, I'll find out about these things faster than these videos yeah, so make sure you're doing that make sure you hit the like button, the love button, the bell on your notifications. Ding! Or giving us reviews or whatever. But thank you very much for watching. We hope that they're educational, and fun, hopefully, too.
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 the show are not guaranteed. All investment strategies have the potential for profit or loss.
Transcribed by https://otter.ai