050: Our Big Five Oh!
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Welcome back Cashflow Multipliers Team! We are back and ready to celebrate– it’s our 50th episode! 🥳️🥳️
I truly can not believe we made 50 episodes. I remember thinking when we first started “how are we going to fill just ten episodes with content and things to say?”
And yet, look at us now, 50, and dare I say pretty nifty. We were just a couple of passive income-obsessed sisters with one goal– never trade our time for money again.
And we wanted to share that knowledge with the world. We have recorded hundreds of powerful minutes and plenty of learning moments as we share the best tips, and tricks about all things passive investing, apartment syndication, tax benefit goodies, and retirement secrets.
And we’re not done yet. This platform has given us a whole new world to share what we know, and beyond that, connect with you! Our Cashflow Multipliers Team, aka all of you listening, have made this dream become a reality. We are truly so thankful for all of you who have tuned in. 🙌🙌
Whether it was in the car, during your workout, or just living your day-to-day life, knowing we were with you in those moments means so much to us. Be rest assured that you are doing so much for yourself simply by listening– you’re taking an active role in your financial freedom. We’re beyond thrilled to play a small part!
Today we wanted to spend a few minutes looking back at some of our life lessons as it relates to passive income and our journey in real estate. We started with 0 doors and went to over 5,000+ in a matter of three and a half years. 😍😍
Thow in a pandemic, rent freezes, and now increases, plus an inflation hike in there and you can say we have really been through it. We’re big believers that you have to take the time to look back so you can better your future. So thanks for being here as we reflect, and hopefully you learn a thing or two in the process.
From Textiles to Tax Savings
Many of you know that we started in the fashion industry. And we loved it.
We know, talk about a record scratch moment! Although we were passionate about what we did at the time, and we were making decent money, things became obsolete overnight.
We only had one source of income and 💸💸 paid big time in taxes, which we never saw as a problem because that just meant we were doing well. We didn’t have to worry about making up for anything in “side hustles” like many of our friends did at the time.
In 2017, our biggest client announced they were closing all of their retail stores. And just like that our income dried up– and we had no backup plan.
In the midst of our panic, we quickly realized that our sense of security was an illusion. We were trading our time for money and without any demand, we started to feel pretty helpless. So there was only one thing to do, we had to act fast. 😞😞
Enter apartment syndication. Up until a few years ago, we didn’t have passive income in our vocabulary much less in practice. We thought paying a fat tax bill was the norm and believed that if we wanted something, we would have to trade our ⏳ time for it.
After all, we grew up in a home where that was modeled for us every day. Our parents worked long hours and we saw the struggle and turmoil they went through.
Our parents worked multiple jobs to make it in this country, and we saw the struggle and turmoil they went through.
Then, in 2017-2018 everything changed for us. We attended a real estate conference that quite literally changed our lives and eventually a whole new world of apartment syndication. Suddenly we were free from the daily grind and went from one source of income to multiple sources of income. 💡💡
The best part? We were making money while we slept and creating stability and scalability not just for ourselves, but for our families as well.
The Power of Passive Income
Looking back, losing our biggest client was the best thing that could have happened to us. It forced us to open up our eyes and see that we can not rely on one source of income. There is nothing wrong with trading your time for dollars, in fact, if you’re there now, be rest assured you’re doing the responsible thing, but also know there is more out there, as we quickly learned ourselves.
A friend of the pod, Warren Buffet once said “if you don’t find a way to make money while you sleep, you will work until you die.” Okay, he doesn’t really know us like that, but we like to think we’d all get along pretty well if he did!
But how true is this quote! We had this gut feeling– and maybe you do too– that in order to have true financial security we had to learn how to make money without trading our time for dollars. Don’t ignore that feeling, we only wish we could have started sooner.
Passive income was the gateway to us learning how to become apartment syndication experts. We fell in love with apartment syndication and while we took the time to learn the ins and outs of what was required for us to become good at it, we relied on our passive income.
General partners don’t start making money until the deal goes full cycle. So while we were studying, passive income carried us during that season of our lives. It gave us the freedom to do even more. So not only did that money help us fund our lifestyle, it helped us take time to grow to become apartment syndicators! 🤩🤩
But we didn’t stop there. While our money was working for us, we were learning from some of the best apartment operators with stars in our eyes aspiring to be just like them one day. During that time, we were learning from them skills like asset management, how to communicate with investors, and what to look for in a property. Truly, that was an invaluable time in our lives. 🤓🤓
Building relationships is crucial in this business 🤝 – especially when it comes to the general partner team. Having not just a team but the right team is the difference between a good deal and a great deal. And there’s no better way to bond with a team than going all-in with your investments together and answering your questions 24/7.
We are so thankful for our amazing team. 🙏🙏
First Stop: Investing
From our experience, the best operators are 98% of the time the best passive investors– in fact, that’s how they started. And so did we! How can you raise capital if you’ve never done it, right? It’s all about that experience.
We are firm believers that in order to become an operator you need to start with passive investing. Starting with passive investing will allow you to build relationships, leverage an expert team and have your money make you even more money.
Beyond that, it will also allow you to create opportunities for the sponsorship team to get to know, like and trust you!
We’re big fans of getting your hands dirty through real world experience on the field. Plus, by doing this, you will be learning from some of the best minds and create more incredible investment opportunities for yourself by becoming an insider in this industry.
Of course, we’d love to help along the way and encourage anyone who is going through their passive income journey to secure their financial futures through apartment syndication.
So where do you find such incredible people with this knowledge and wisdom who want to help you get started? With the Kitti Freedom Club of course! A passive investors club for ordinary people like you and by joining, you’ll get the insider scoop while elevate your passive investment game with our pre-vetted hand-selected investment opportunities just for you!
We are honored by the incredible people who are in that club right now, and we only hope to bring others into it so they can realize their own potential and start now with their investing journeys. Learn from our mistakes and start sooner. We only wish we had this resource when we were starting out!
This is truly our favorite part of the week, and we are grateful to be here. 5⃣0⃣ episodes! We can’t believe it, and yet we know this is only the beginning. What started as an idea has now become the best part of what we get to do.
We truly do feel like we are just beginning, and hearing feedback from you guys only makes us better. So if you haven’t already, be sure to rate, review and subscribe to the pod. We would really appreciate it!
We’ll be back next week! Talk soon!
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