Ekabo Home Financial Freedom Mastermind Podcast
A podcast for those who do not believe they were put on this earth to work 40 to 50 hours per week for 40 to 50 years, to hopefully retire at the age of 65.
Ekabo Home Financial Freedom Mastermind Podcast
130. Kickstart Your Financial Freedom Journey in 2025!
🌟 Mastering Financial Freedom: New Year, New Goals: Achieve Financial Freedom Today! 🌟
What if you could turn your real estate dreams into a reality this year? Join me, Niyi Adewole, on the Ekabo Home Financial Freedom Mastermind podcast, where we unveil the strategies for achieving success through smart real estate investments!
This week, we kick off with an inspiring quote: "The solution is always simple, but execution is the hard part." This perfectly captures our belief that while the path to success may seem straightforward, it’s the execution that truly matters.
We’re diving into 3 essential questions from our community:
How do you scale and continue buying properties?
- ➣ Niyi shares his personal journey of acquiring his first triplex and the mindset needed to keep moving forward in real estate investment.
When should you schedule the final walkthrough for a property?
- ➣ Discover Niyi's recommended timing for walkthroughs to ensure you see the property in its best condition before closing.
Should I refinance now or wait?
- ➣ Learn Niyi’s insights on evaluating when to refinance based on your financial goals and market conditions.
With insights from our members' achievements and challenges, we explore how the right strategies can simplify your investment journey.
Inspired by innovation, we discuss how technology can enhance your real estate operations—streamlining processes, improving communication, and maximizing your investment returns. Get practical tips for managing your properties effectively and maintaining strong relationships with clients and partners.
Summary:
In this episode of the Financial Freedom Mastermind Group Podcast, host Niyi Adewole discusses various strategies for achieving financial independence through real estate investing. The conversation covers motivational insights, answers to listener questions about property management, and the importance of leveraging technology and negotiation techniques to boost investment success. The episode fosters community engagement and shares personal updates, creating a supportive atmosphere for sharing experiences and advice.
🌍 Why This Matters:
In today’s competitive real estate market, understanding the intricacies of investment, negotiation, and property management is vital. Niyi’s insights empower both new and seasoned investors to take charge of their financial futures and make informed decisions.
📈 Don't Miss This!
Experience the power of strategic thinking and actionable advice as Niyi shares motivational insights on overcoming challenges, the importance of persistence, and the resilience needed to thrive in the world of real estate.
🎧 Listen on your favorite podcast platform here: https://financialfreedommastermindpodcast.buzzsprout.com/
🗓️ Tune in every Wednesday at 7 PM Eastern! Don’t miss out on our journey toward financial freedom through smart investments.
👉 Hit that subscribe button and turn on notifications so you never miss an update! Let’s unlock your potential together!
Our Links
➣ Financial Freedom Mastermind Facebook Group - https://www.facebook.com/groups/53083...
➣ Peer Space Host Referral Link https://www.peerspace.com/referrals/g...
➣ AirBNB Host Referral Link https://www.airbnb.com/r/niyia41
➣ Ekabo Home Network (IG, Youtube, Email) https://linktr.ee/ekabohome
Niyi Adewole is a licensed realtor in Georgia, brokered by EXP Realty. Feel free to reach out at Niyi.Adewole@exprealty.com if you would like to work with an investor friendly real estate agent.
Welcome to the Financial Freedom Mastermind Group Podcast. Here we're all about breaking free from the 40 to 50 year work grind and accelerating our journey towards financial freedom. Join us every Wednesday at 7 pm Eastern as we explore different types of investments that can fast track your path to financial independence. We serve as a hub for connecting with fellow members during our sessions so you can share successes, ask questions and keep the momentum going.
Speaker 2:Good evening everyone, and welcome to the Acaba Home Financial Freedom Mastermind Group. This is the first meeting of the new year and I just want to tell everybody happy 2025. I'm super excited to be joining you here. I can tell you that 2024 was an amazing year for the Acaba Home Network. We had a lot of new clients that got their first house. We had a lot of recurring clients that got their next house, and we set up a 2025 to be a truly pivotal year for our team and our network, and so I'm truly excited to continue this journey alongside you guys to financial freedom, and I hope that you allow us to be a part of that journey alongside you as well. And so, if you like the podcast that we've been putting on, please do me a huge favor before we jump into this one, and go ahead and subscribe on YouTube and like this and follow it on your Apple podcast as well as Spotify. This does us a huge, huge favor and it allows us to continue to put on these episodes. But today is going to be an open session to kick off the new year, doing it with a throwback, doing it with the essence of what we actually started this with, and so if you're joining live for the first time or the first time this year, go ahead and throw questions in the chat and or join live through the chat. I'm going to kick this off with a quote, a story, and then the three questions that we answered this week, and so the quote that we have is the solution is always simple, but execution is the hard part, and this is true on so many levels, right, even when it comes to real estate investing, the concept's very simple. The execution is where people need help with and that's where we come. The execution is where people need help with and that's where we come in handy and where it's good to have mentors or people that have done it before, because if somebody's walked that path before, it's a lot easier for them to be able to coach you through it and show you how you can be successful in that path as well. I can tell you that the reason that I'm a realtor today and focused on it being an investor-friendly realtor is because I had the benefit of while I was working in the W-2, for seven years, having an investor-friendly realtor in Louisville helped me build up my investments and I saw what that partnership looked like and how it evolved over time, and I wanted to be able to have the same thing when we built out our team up here, and so that's a reason why I'm in the career I'm in right now. I'm sure a lot of you can think through different ideas that you've heard or thought of, but the hardest part is executing on it, and so if you can get really good at execution, which really is just getting good at focusing on one step at a time and getting better over time, you can be a rock star in this world.
Speaker 2:Three questions that we got over the past couple of weeks it wasn't necessarily last week, but with the holidays it got extended, so over the past couple of weeks. One was how do you scale and continue buying properties? And this is one that we get asked by a lot of newer investors who are getting their first property and maybe already looking to the second and third and thinking, like man, how I'm going to save up all these funds. And the key is to focus on where you are right now. I can tell you that when I scraped together the 5,000, I had to get my first triplex. I didn't know when I was going to get the second one or how it was going to come together. It just kind of happens right. Once you get that first one under your belt and you continue saving and putting things together for that next one, it's not going to be as hard as you think. It may take slightly longer than you believe If you think, hey, next year I'm going to get one. It may take a little bit longer than that to save up the funds for it. But if you are focusing on something it's crazy how our mind works You'll start to see opportunities to either earn more income, partner with somebody, take on a new role, or just save more to be able to invest in that next property. And so I'm always focused on okay, focus on how to get this one, get this one stabilized, and then you move to the next one and focus on that next one.
Speaker 2:When should you schedule the final walkthrough for a property? So I'm a fan of doing this within 48 hours of closing, reason being a lot can happen before then. Right, the seller may still be doing some of the repairs that you negotiated and you want to make sure that you've given them enough time to get those pieces done so you can see the property exactly how you're going to take it over. A lot of clients want to go same day. That's not necessarily necessary all the time and depending on where the closing is in the house, you may be on the road driving for hours and hours, and so typically we'll shoot for two days before or maybe the day before. Only time we'll really do day of is if somebody is in the same vicinity of that property and they really want to just do it that morning because of work schedules and things of that nature. And then should I refinance now or wait?
Speaker 2:And we've talked about a variation of this question before and it really comes down to the math right, when you're going to refinance, you have to pay something called closing fees again. Right, and so you pay closing fees when you first buy the house, and when you go to refinance, you pay closing fees again. And so if you're looking at, hey, does it make sense to refinance now? You simply want to connect with the lender, understand what the closing fees are, understand what the savings would be at the new rate that you get, and then just divide that by how many months it would take to pay that off with the savings you're getting. For example, right, say, a refinance is going to cost you $10,000, for even numbers, and you're going to save an additional you know $200 per month, right? If you're going to have $10,000 for closing costs divided by 200 in savings, that's going to take you 50 months, or a little over four years to recoup just the closing costs. In my mind, that's not worth it. That being said, if you're going to pay $10,000 in closing costs and it's going to save you $1,000 a month for Easy Math and you're going to recoup all that money within the first year, it's absolutely worth it, especially if you plan to hang on to that property long-term, because everything after that is gravy, and so that's how I look at it.
Speaker 2:I actually had a property that I was thinking about refinancing late last year. I went through this whole thing. We sent the appraiser out, did all that stuff, and they came back and it was going to be maybe a $400 savings, but it was going to cost like 14 grand to get this done and I said no, I think I'm good, I will wait until interest rates come down further before I refinance. So it's okay to pause and not do it right then. Not all savings are good savings and with that we are going to open this thing up.
Speaker 2:Feel free to throw any questions in the chat and or join live. I'm excited to hear what you guys have been up to over the last three weeks that we've been radio silent and while we wait for questions and or someone to join live, one of the things I'm super excited about with our team as well, is we're continuing to grow. So a lot of you know, or maybe you don't, but we have grown over the last two years from being a solo mission to eight agents last year, or really two years ago. Now to now we have 12 agents as of December, and so we're super excited to continue growing that. We actually have a new individual who's going to be joining soon, making it 13 agents, and we plan to continue to expand. So if you are interested in not only investing in real estate but also potentially coming on board as an investor-friendly realtor, we're more than happy to have that sit down with you and connect and see if it's a fit both ways. I want to say four, maybe five, of the realtors on our team actually were clients that then transitioned over and wanted to do what we do, so it's exciting time to be a part of the Acaba Home Network and community and we're looking forward to crushing our goals in 2025 and coming away with the top 10 spot in Georgia.
Speaker 2:And I know this is the first one back, but it's pretty silent. Any questions from the chat? And or do you want to join live for any questions? All right, y'all. Well, I hope everybody has an awesome first week back to work, because I know nobody was actually working last week and everybody, please be safe. We're actually going to be getting snowstorms in Georgia starting Friday and we know that people don't know how to drive in the Southeast with snow, so please stay inside. If you haven't already, go out and get some supplies. I saw a couple videos of people stocking up on a heck of a lot of milk and eggs, and so if those pieces are out, try to find some substitutes. But we will catch you guys next week. I hope everybody has had an awesome first week of the new year and let's get it this year.
Speaker 1:See you guys.
