How I Lost $500,000 in Real Estate!!
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The speaker discusses their financial successes and failures in 2022. They added $15 million worth of real estate to their rental portfolio without using any of their own money, including 65 single-family rental properties and an apartment complex. However, their flipping company lost over $100,000 in November due to buying properties at a higher assumed ARV than they actually sold for and a decrease in investor buyers. The speaker also mentions their social media following of over 2 million and their mentorship program, Faster Freedom, which has added 900 students since its launch in 2021.
The speaker discusses setbacks, including a flood in one of their apartment complexes, causing significant damage and costing them $150,000 out of pocket for repairs. They also had a self-storage facility that they were constructing, but one of the buildings blew over three times due to strong winds, costing them about $150,000. However, they crossed the 300-house threshold in their flipping company, a huge milestone for them.
The speaker also talks about their latest project, the Faster Freedom Show podcast, which has become one of the top one percent of entrepreneurship podcasts. They plan to bring in exciting guests in the future. The speaker emphasizes that they want to grow their businesses in the smartest way possible and that they will not fire anyone, regardless of the economy. Finally, they mention that they are launching a book soon, which they hope will help their followers create wealth and grow their businesses.
The speaker discusses their financial successes and failures in 2022. They added $15 million worth o