The 5 Laws of Investing Success with Logan Freeman

Transcript:

Logan Freeman  0:00

Because both of my hotels are zoned hospitality, so I won’t have any regulatory issues with with our projects and the other short term rentals that I do own. Taylor are also in commercial buildings. And so in Kansas City, Missouri, you’re allowed to have a short term rental, if it’s 25% of your units in the prop in the property.

Taylor   0:28

welcome to passive wealth strategies for busy professionals, the show that teaches you and other busy pros how to grow your wealth without buying yourself a second, third, fourth, fifth and six job. I’m your host Taylor load. And today we are here with Logan Freeman, Professor out of Kansas City, Missouri.

He has a very interesting past and getting into real estate investing or collegiate football player in the NFL for a little while. And then he got out and again has had a very interesting history getting into real estate. He’s very into Miracle Morning, it’s we’re starting at 7am here my time 6am his time and think he’s been up for even a few hours before that, just getting ready for the day and really focusing on his mindset mentality, and setting intentions and goals and all that good stuff for the rest of the day, the rest of the week and the rest of the year. I think there’s a lot of value in that.

So Logan, thank you for joining us today.

Logan Freeman  1:28

Thanks, Taylor for having me. And I can’t agree more, I really do think that if you can win the day, in the first call three to four hours, you can really set yourself up for success. That’s something I’ve started a long time ago. And we can get into that when I started that. But I think it’s very important to everybody to have a morning routine and a morning ritual, it really sets you up for success.

Taylor   1:53

Absolutely. I have my own my own ritual or routine and etc, that I learned from Tony Robbins, you know, certified coach, same coach to Joe fearless and many other investors.

Logan Freeman  2:06

Yeah, I’ve talked to Trevor McGregor plenty of times. There you go.

Taylor   2:09

Yeah, Trevor, he’s the man.

Logan Freeman  2:10

But he’s, he’s great. You know, and I, one thing I would like to tell your listeners when we’re talking about morning rituals and morning routines is, is you have to find what works for you. And, and there was a quote from I believe it was Eisenhower, and he said something along the lines of you, you have to be soft on schedules and hard on disciplines. And what that means is, you know, every day is going to look a little bit differently. And you can’t beat yourself up for not having every single day be exactly how you want it because things are going to happen that you cannot control.

However, if you say hard on your discipline, but you’re soft on your schedules, allow yourself to be fluid. That’s how you actually start to

Taylor   2:51

create habits. Wow, that’s excellent. I’m going to write that one down. I think everybody else out there should think about writing that one down. I really like that. I’ve never heard that before. So getting into, you know, your investing background and your experience working with passive investors and being a passive investor, can you give us just a quick primer on what you’ve done so far?

And then what you’ll be doing, you know, the rest of the year?

Logan Freeman  3:15

Yeah, absolutely. So, you know, my, my journey in real estate started about five or six years ago, when I bought my first property. And I really started to understand the power that real estate had, I had a job at that time.

And basically, I was I was not paid for my performance, which with my personality, and my strengths doesn’t really work too well for me. And so I started to look in other ways and tried to rub some pennies together, and see if I could go, you know, buy a house, fix it up, maybe even live in it, use some conventional financing with very little money down and, and be my own general contractor.

And I started to do that and started to put a little bit money in my pocket and realize that if I could do that for two years, and I could I could make the right purchase and put the right amount of money into it and resell it, I could make my salary at the time in in one project or two projects a year. And so that really got the bug for me started and, and you know, I didn’t make the jump for another probably three, three and a half, four years.

But it was actually a December of 2017 whenever I made the jump full time into real estate, and really what happened was, I was fired from my job, I was at a six figure sales job. And I had sold the project a nice, nice sizable deal the week before. And I was sitting with my wife on a Sunday night and I got a meeting maker invite for 6am from my boss, and I was like, well, that’s the first time that’s ever happened.

And I looked at my wife, and I think I’m getting fired tomorrow, I’m not really sure, but I’m pretty, I’m pretty certain that this is a telltale sign. And so, you know, it did happen. And that was that was okay, it was actually the best thing that ever happened to me, because it made me realize that, you know, having that nice, what I call comfortable and safe job is actually not as comfortable and safe as you think it is.

And so we brought a private company, private private equity fund into to fund some new technology and their first thing of their first line of business was cutting expenses. And so myself and quite a few other salespeople were let go pretty quickly there. So I started a consulting company where I would actually go on and, and train people, small businesses on their sales process, train their people and in their positioning and their product. And help them set up CRM systems that that sort of thing.

And I was also, you know, the head of acquisitions at a small boutique firm here in Kansas City that focused on investment properties. And in less than nine months, you know, we completed over 120 transactions at that firm. And this is this is very important, because while I did have a $40 million fund that I was helping represent, they only represented about 80 of those properties.

So my first year full time in real estate while running a full time consulting company with three, three clients that I gave 20 hours each to a week, I still was selling about, I don’t know 15 or 25 houses a month. And, you know, I started from zero with that. And I cut my teeth on a lot of a lot of transactions, but it was just reps for me. And at the time, we were doing smaller apartment complexes and duplexes for Plexus and single family homes. And I had to look at over 600 properties, and underwrite 600 properties and rehab.

I mean, I estimated the renovations on 600 properties, and we probably made offers on about 350 of those and, and my my hit rate was, you know, a little less than 50%. But that’s still pretty good. And one thing I want to note too, is that, you know, it was nice to have that fund that was purchasing properties. But at the same time, I was learning about how to build a brand building network, focusing my efforts on bigger pockets and adding value on my own website and trying to really understand what a passive investor my want and what they need to do to be able to feel comfortable to work with a real estate broker and agent from out of state. And they I purchased probably, I don’t know, out of 120 of those properties, we probably purchase 90% of them sight unseen for our investors, we went to the properties, obviously, but our investors did not. So that’s how we got into it in real estate.

And I can either stop there Taylor or I can kind of tell you what I’m focused on now, whatever you’d like,

Taylor   8:06

if you’re an investor with a day job, build that some kind of passive income. So you can, you know, have another option out there if the day job goes away. So, you know, what are you doing? Now? Let’s, let’s get into that.

Logan Freeman  8:20

Yeah, you know, I want to just comment on what you just said, you know, there’s really no excuse for, for us as what I call investors not to be able to build some passive income. I mean, with all of the new technology, all of the private placement memorandums that are out there, all of the resources at our fingertips, it’s really, if you’re not making an effort to try to build your passive income up and do something different than what you’ve been told, works the last 25 years, it’s really your own fault.

I don’t mean to be brash here, but at the end of the day, you have to take some type of action, to be able to start to get to that point, and we have all of the resources at our fingertips. And you know, Jocko willink is a is a great mentor. And I would just have to say that discipline does equal freedom. And we really have no excuses not to take Extreme Ownership of where we currently are.

I think that Trevor McGregor and Tony Robbins would say that first off, you have to assume responsibility of where you’re at in your life. And there’s, there’s no really other any other reason other than it’s your choices that have led you to where you are. And the great thing about that Taylor is that you get to make new choices every single day to kind of move you to where you want to go.

So it’s it’s somewhat, I think, a double edged sword in the sense of, you know, it’s, it’s, you have to be okay with, you know, maybe your past not getting to where you want to go, but you also need to be able to understand that great, I can make choices that are going to better me every single day and be might take six months, but I’m going to get start to get to where I’m going to go and but I think the first step of that is taking Extreme Ownership of it. 100%

Taylor   10:07

I’m a fan of Jocko as well. You know, it’s a mentor that I just haven’t met yet. Yeah, essentially. And yeah, he’s, he’s, he’s excellent, especially if you’re in a performance driven type of environment professionally, like a sales or something like that, or, you know, on your side, you’re getting into your entrepreneurship, you know, you need to take Extreme Ownership of everything, even if you, you know, in hindsight, you said, why I didn’t know that this potential thing could happen.

Well, you need to take ownership of that. And next time, and in the future, you need to be aware of, you know, whatever, whatever thing it is, or, you know, such and such team member did such a thing.

I need to train people differently in the future, things like that. Exactly. That ownership is is very important. So yeah, we could talk about that. That stuff all day. I’m, I’m big into it. So great. What are you doing now? What are you doing in real estate now? And how are you partnering with other investors?

Logan Freeman  11:04

Yeah. So, you know, in September of last year, I really, you know, I could have continued to do what I was doing, but I didn’t feel I didn’t feel super, what I call jazzed about the projects, because, well, one I was we, our prices continue to rise, our inventory continued to decrease, and my buyers list continues to increase.

I felt a little unethical purchasing properties for investors that I knew, you know, seven, eight months ago, I was purchasing at a 25% more discount than I was then. And, you know, with us with a smaller multifamily or single family home, you got to be really careful, because if you’re trying to build a long term relationship with an investor, and a property is only going to, you know, our property is only going to cash flow 250, maybe 300 bucks a month, if you’re lucky.

Those markets, one thing that happens to that property throughout the year and H factor roof tenant, you know, causes some issues when they move out that zaps all of your cash flow for the year. And don’t get me wrong, you still have benefits from a tax standpoint and things like that.

But at the end of the day, most people are getting into this for the cash flow of building that cash flow over time. And so, you know, the prices were just too or the projects were just too marginal for me. So I started to dive into books and people like Joe fearless, like microblog like the real estate guys, Russ gray and Robert Helms, and I started going to their events, you know, I, I just said, Well, if I’m going to try to make this move into syndication, which by the, by the way, I didn’t even know what that word meant whenever I first heard it. So I had to research that. So I started going to all these events, kind of trying to learn level up and build a new skill, I knew I could raise some capital because I had quite a few investors that were chomping at the bit to get into Kansas City. But what I did, what I underestimated was the time and effort it was going to take for me to talk with and work with my investor list who really wanted to own an asset themselves into passively investing. And I in that process was a lot harder than I thought. And really the people who are, quote unquote passive investing are a little bit different than the ones who want to go purchase their own properties. But I did transfer quite a few of them over to to my syndications. But, you know, after I, after I kind of went to all these events, read all these books, before I did anything from a syndication standpoint and a commercial and multifamily standpoint, because I knew that’s the direction I was headed, is I wouldn’t bought a few properties myself. And so I’m big believer in, you know, hey, I don’t, I don’t really want to go do or, or work with somebody or say that I can do something unless I’ve done it myself. And that might be the just the true true salesperson in me. You know, Grant Cardone Anthony EN or, you know, these great sales trainers always talk about, if you’re not sold on your own product, you’re never going to be able to sell it to to anybody else. And so I had to sell myself. And the only way I could sell myself was to actually go do it. So I went and bought a couple of commercial properties and, and did some joint ventures with some other people on on some stuff as well and, and kind of cut my teeth on that while I was still learning. So, you know, I’m a big action taker, I don’t think that knowledge is power. I think knowledge is potential power. And knowledge plus action is actual power. And so I, you know, my wife, thankfully she’s in my life, because she holds me back from taking a lot of action that probably would cause me issues, but I, I am I, you know, I’m a football player, Taylor, I’m not real smart.

So I just run into stuff really hard and see what happens at the end of it, you know, and, and thankfully, she’s been able to really save me some, some headache from one work not working with some individuals and to, you know, thinking about things a little bit more strategically. She’s a very smart woman and business strategist herself. So she helps me think through this stuff, but she sees it from a different perspective from from real estate just in general. And I’ll say that, you know, after I bought those properties after I felt comfortable, I said, Okay, well, I think I’m going to start trying to do apartment syndications. And I, I felt like I had enough equity behind me from my group.

I said, You know, I think I can raise this equity. And so I started underwriting all the projects that were available here in Kansas City.

lo and behold, I did not I had no idea that the prices and the compression here has had happened in multifamily before it even did and single family. And so in the assets, the institutional style assets that I was looking at raising equity for, we were already at a at a five and a half, six and a half cap rate in Kansas City.

I said, you know, that’s probably not going to work because most of our investors, you know, can probably get that in a market that they feel a little more comfortable with buying that at a cap rate of that, of that, that that low. So I had to continue to work on finding properties and deals and so I just continue to network. I moved my license over to commercial and multifamily brokerage, I was still studying, learning, networking, taking a lot of action on that front and looking for projects.

And, you know, I came across an interesting asset I have, I have a hotel and restaurant management degree. And so I started underwriting this project, I knew where it was, and it was a bed and breakfast hotel about 17 unit Bed and Breakfast hotel or 15 units, sorry, on the on the Kansas City Plaza. And I said okay, well let me get the financials. I said, All right, this is a little bit different than looking at a multifamily property. And there’s some big question marks here who’s going to run the property?

How can I make sure if there’s a recession that we’re going to still drive traffic to our to our hotel? Just some big question marks there but i i’ve been coached by MJ DeMarco who wrote the millionaires FastLane and he has another book out unscripted, which I would highly recommend it I don’t think a lot of people know those two books, but unscripted by MJ DeMarco and the millionaires FastLane are two of the best business books. But long story short, he’s got five business commandments that you that he, he really tells people they need to focus on. And, and this is how I put everything through a decision making matrix before I’m deciding to either shift my business or work on something, it needs to have a great need in the marketplace, there needs to be a high barrier of entry, you have to be able to control it, there needs to be able to build, you just scale and your time has to be freed up by actually doing this at some point, you have to be able to step away from this thing.

So you know that I was thinking about this property, it’s a bed and breakfast hotel. And there was a high very high barrier of entry to this, this this property and I said, Well, if I can figure this out, I think that this thing’s going to be a winner.

So we put it under contract I I started to find the operational partners and I actually found some really great partners at my now brokerage that I’ve invested in two hotels, and we’re working on our third one actually on the bed and breakfast side. And so we raised the equity for those those two hotels on the Kansas City Plaza. And now we’re going after our third one. It’s actually out in Wichita, Kansas.

Now we’re graduating into some larger ground up development deals here in Kansas City. And then and then we’re partnering with other general partners sponsors in the Self Storage side, the mobile home park, and any type of multifamily. So Senior Living student housing, those types of projects that we’re we’re actually working on right now. So we can, we can focus on actually being the partners ourselves, the GPS ourselves, we can be co general partners, we can help with leasing or property management, if it’s in our in our market that we focus on.

Also we can lay alongside and advise people, other partners on their capital stacks, so we can make help facilitate introductions on the debt and equity side that might be able to capitalize their projects. So that’s what I’m doing now. Taylor and I that was a long, that was a long answer, but a lot to unpack there. But I think that that’s probably a good place to start.

Taylor   19:51

Absolutely. And I you know, I took some notes here, as jotting down as you were going through the five business commandments. So just to reiterate those, make sure I got them, right, there needs to be there has to be a need in the market, there has to be a barrier to entry, you have to be able to control the business or your operation of the business. Yep, you have it, there must be opportunity to scale, whatever it is. And I wrote down time, but I didn’t get that. Number five, what was that last one time, but I didn’t get the whole thing. You want

Logan Freeman  20:21

to make sure that any idea or project or business that you’re working on, it actually frees up your time and does not take all of your time. And at the beginning it might it might take your time, which is fine. But you need to be able to put systems and processes in place or people that can help mitigate your time commitment to that project idea or business. So in this case, I like yeah, sorry. Go ahead. Yeah, not sure. So in this case, there is a need for for this bed and breakfast hotel. Because there’s only there’s only at the time one on the plaza, that’s that was operational, the barrier of entry is very high, because I have never heard of any other sponsors or real estate investors understanding how to work a bed and breakfast.

There’s a really high barrier of entry to that, we can control that, because we are managing that in house, we can scale it because we just which we did, which we bought another one, four blocks away, and now the The staff is working at both of them, so that scale, and then our time is not spent running these properties because we have a staff in place. So that just kind of gives them an example of how that those five commandments might fit this, this project and a framework for your listeners to kind of work through

Taylor   21:43

the time one is big from a passive investing standpoint, generally because I think the temptation is to rush through and reduce the amount of time until you make a passive investment and that’s all you know as well and good to to try to compress your timeframes and your schedules and all that but especially when we passively invest in syndications to continue the syndication example it takes me quite a while to evaluate a sponsor to get to know them to watch them operate their business or watch them do deals and you know build that level of comfort and trust on my end until I’m comfortable you know investing $25,000 or $50,000 of you know my hard earned money with them and and you know, I wouldn’t suggest to the other passive investors out there you know, that’s really what you’re as a passive syndication investor that’s where your time is in evaluating sponsors and deals and then afterward you know, you shouldn’t be working on the project you a passive investor so your timing in you know investment is up front is that an Airbnb Bed and Breakfast type of situation?

Or is a general bed and breakfast?

Logan Freeman  22:59

So good question what one of them is a fully operational Bed and Breakfast where we did that was one of our value add components to that project was that they were not utilizing Airbnb, but it’s been in operation for over 20 years.

It’s a full service bed and breakfast, Expedia, hotels, com bookings com that type of hotel the one that we came across during our due diligence of this project was it was not operational at this at the time it had all of the actual furniture still in it, it just was not operational and it was just undergone a massive couple million dollar renovation and were able to negotiate quite a bit of owner financing on that project and we started that is what I’ll call a hybrid Airbnb hotel with the plan to ticket to full service bed and breakfast but right now it is just a large city it’s a large home with a big beautiful carriage house as well.

There’s seven rooms in one of the one of the buildings and there’s two rooms in and the other one so we have nine rooms on that one we do not serve breakfast there it’s just a hybrid mostly our bookings do come from Airbnb on that project but our first one is a full service sit down for breakfast Bed and Breakfast that you would you would think about and probably traditionally know about.

Taylor   24:30

Okay, I think my you know, when you have another stream of potential tenants are another way to rent the property like a you know, just a regular proper Airbnb and through Expedia, all that, I think there’s a big advantage there. Because the market that I live in Richmond, Virginia, I don’t invest here, but I live here. The local municipality is has a, an extreme bent against Airbnb, they’re doing everything they can to try to eliminate Airbnb, in this market. And you know, unfortunately, because you know, I use Airbnb, I don’t invest in Airbnb, but I use it as a consumer frequently.

I love Airbnb. But so many municipalities out there across the country, not just you know, in these coastal markets are trying to get rid of it, essentially. And you know, it’s unfortunate. So you’ve when you can just operate as a regular when you can operate as a regular bed and breakfast, and you’ve kind of mitigated that regulation risk.

Logan Freeman  25:37

That’s a great point to make, because both of my hotels are zoned hospitality. So I won’t have any regulatory issues with our projects. And the other short term rentals that I do own. Taylor are also in commercial buildings. And so in Kansas City, Missouri, you’re allowed to have a short term rental, it’s 25% of your units in the prop in the property. So

for example, we’re building a 10,000 square foot building out it’s a two store story building, we’re doing commercial, commercial, mixed use on the bottom level, and on the 5000 square feet upstairs, we’ve got five units, well, one of them is going to be a short term rental. And so Kansas City, Missouri allows that in commercial buildings. So I’m building two other ones and another commercial building that I’ve, that I’ve purchased. And so we’ve, we’ve understood that a lot of people are somewhat hesitant to get into the Airbnb business.

From the beginning, did not think that I was going to own single family homes doing Airbnb is I was utilizing the Airbnb model in the short term rental model, to what I’ll say what I call just increased my net operating income, because these properties are in high traffic areas where a lot of travelers want to be, and I can serve a certain market and control regulations, because I’m in commercial buildings.

It’s a great point. For your listeners, check the municipalities that you’re looking to invest in, and see what the rules and regulations are. Because I know a lot of people made a huge bet on Nashville being you know, the short term rental mecca of the world, basically. And they have come down very hard on short term rentals, I stayed in one at a bachelor party, it was three stories tall, definitely was brand new, built in the last 12 months, for short term rentals, I could tell that and they came out with a regulation that’s basically closing down Airbnb in Nashville. So definitely check your, your, it’s a good point to definitely check the municipalities and, and see what the regulations are in your area, or the area that you’re looking to invest in.

Taylor   27:59

Absolutely, that’s, you know, part of that due diligence that investors should be doing and you know, generally speaking, but specifically, if you’re looking at it, this kind of investment, go check the regulations yourself, it shouldn’t take that much work to find out about a given location, what the regulations are, and also ask if you’re looking at a passive investment, ask a sponsor what you know, tell me about the regulations here. And then you can, depending on your level of trusted be a good idea to, to double check their work, but if they don’t have an answer for you, or their answer doesn’t make you happy, then, you know, protect your downside and don’t invest in that particular deal.

Because one piece of paper signed by a mayor can completely destroy your business and make your your asset not worthless, but worth far less than you expected at the beginning. And it’s it’s it’s really unfortunate, but, you know, it’s just part of part of investing part of protecting our downside and doing our diligence, and, you know, keeping our hard earned money, you know,

Logan Freeman  29:03

in our pocket? Absolutely. Trust with verify.

Taylor   29:06

Absolutely. What do you think is like one of the biggest mistakes that passive investors are making today?

Logan Freeman  29:15

Wow, you know, I would say, going with mainstream, and what I mean by that is, is, if everybody is flocking to, let’s just say, multifamily, and Class A, or what they’ll call the, but really is BBV plus plus plus multifamily that’s being either built or has been built very, very recently. And you see a lot of people kind of flocking to that certain asset class, or maybe even just Class B, that are, that are situated in the southeast region, or Texas or something like that, if everybody’s going that direction, I tend to think that the actual opportunity for us to be thinking about something different and asking myself, okay, well, if everybody’s focused on multifamily, what can I focus on, that other people might be missing right now.

What I’ll say is that, I started to do that, you know, 18 months ago. And that’s why we now own two Bed and Breakfast hotels, and the third one by the end of this year, I mean, it’s, it’s, if you’re looking for a really strong yield, there, that barrier of entry and thinking what I’ll call, I guess, against the grain a little bit or going up upstream, walking across the current, you know, through it, instead of just flowing with it is very important. So I’m really interested in alternative asset classes right now.

I still love multifamily, don’t get me wrong, I broker multifamily deals I invest in multifamily, as an owner of it, and I love that asset class. But what I would say from a passive investment standpoint is really take a look at how many new multifamily units are being built in your market, how many there are available, what’s the what’s the demand that’s actually wanting to, you know, moving people to that asset class that you’re looking at. And then think about alternative assets, it might be self storage, it might be mobile home parks, it might be investing in a business, I don’t know what it is.

But always take a look at maybe something a little bit different whenever you hear everybody talking about one asset class, one location, one way of doing a project as well. So I think that the biggest mistake that people might be making right now is just because it’s just agreeing with what everybody else is saying, because it’s being pushed across so many different channels, and so many different social media pages, and so many influencers. And so, I think that that there might be missed opportunities for passive investors to that that aren’t thinking differently, and just kind

Taylor   32:10

of going with the flow. Absolutely. And that’s you can shoehorn this into those five laws or find the one that fits the best. You can’t, you know, this is this would be my fit, but it’d be interested in your opinion on this. You can’t control the market you’re in, well, I accepted you geographically or anything, but you can’t control for your example, the number of gurus out there that are talking about how great multifamily investing is you can’t control how popular the asset class is.

But you can control what asset class you’re investing in. So if you see particular asset class, in your opinion, and your area geographically is overheated, or you’re not finding deals, then as as you’ve done, look for other asset classes to invest in the I like your bed and breakfast hotel. Opportunity, you know that that’s a very good idea. So you mentioned Self Storage like that as well.

Mobile, home parks, assisted living all very good. There are many options out there so you can control what asset class and where you’re investing if if you’re one particular area is not producing Good grief.

Logan Freeman  33:17

Yeah, absolutely.

Taylor   33:21

So Logan, what is the best investment you’ve ever made,

Logan Freeman  33:24

I’m going to say the best investment that I’ve ever made is in myself. And in reality, this, this whole process started about four and a half, five years ago, for me, when I was cut from the Oakland Raiders, I also lost my father to drugs and alcohol that same about a month after I was cut. And so or that same year that I was getting the time frames get a little bit, a little bit jostled for me, but I really took a hard look at who I wanted to become, what type of man I wanted to be. And I started to try to make them moves and make and take action to actually create that person. And so it started within your external world that you live in is simply a manifestation of your internal well being. And so you can’t ever be successful investing.

Being a father, husband, mother, a sister, brother, whatever it is, before you love yourself and you cannot give what you do not have so I would say that is much as it’s great to to read books about you know, investing and and business and things like that. You really have to start with guys like Tony Robbins like Jocko willink, like David Goggins, like Tim Grover it understand the mentality, psychology and the emotional aspect of business and just being a just an individual. And so you know, the couple books that really set that just on fire for me, it was an emotional intelligence, 2.0 and Strengthsfinder, so the guys over at talent smarts IO, a lot of our Yeah, talent smarts, I owe a lot to those guys, and gals, because understanding myself and investing in myself, has exponentially taking me to the next level. And when that big business opportunity came my way, I would never have been ready if I wasn’t working on myself for four years in or in, you know, every single day.

So the best investment I’ve ever made, is in myself, and if you wanted to actually talk about if you actually want to talk about an actual investment we can but I that’s that’s, that’s my answer is it is investing in

Taylor   35:48

myself. I think that’s a fantastic answer. And you know, I asked every guest that same question toward the end of the show, and so many of them highly successful people give them

Logan Freeman  35:59

okay, right. You

Taylor   36:01

know, I think I think the way to look at that is not that, you know, some cynics might say, well, that’s just the easy answer now. Now there’s the what’s that that Tony Robbins saying success? Yes, clues, you know, so many that, you know, you meet people going through your life. And after getting into investing, you start to meet a lot of very wealthy successful people that came from very little. And so many of them are fans of Tony Robbins, for example, or they believe in investing in yourself. And if you compare that to the society at large, were investing in yourself isn’t might not even be, it might be considered selfish, or they might not even people might not even think about it.

There’s there’s something to be learned there by that example. And if you’re looking for somebody that is in this world, in this investing world, specifically, more so than you know, Tony Robbins, or Jocko or David Goggins, or, you know, what have you mentioned his name, Trevor McGregor, great guy, look him up. He’s out there. business coach, he was, he was my business coach. He’s Joe Fairless, his business coach, and so many others. Great guy. So to look him up, what is on the other side of that? What is the worst investment

Logan Freeman  37:24

you’ve ever? You know, I think that the worst investment that I’ve ever made, was probably working with an individual that I didn’t fully vet beforehand. And you know, there’s a lot of really great speakers and affluent talkers in the real estate business and you really need to put people through stress tests before you decide to do business with them.

So the worst investment I made, was probably hanging my hat, or what I’ll call partnering up with an individual that I didn’t necessarily have all of the background information on and the expectations that we had, or probably not thought through enough, before we started to actually try to work together.

What I would say is that you really need to do just like you do your due diligence in your, in your inspections on properties, you need to do the same thing, if not more with the people that you’re working with. And you need to be quick, but you don’t need to hurry. And you have to make sure that you feel comfortable working with who you’re working with. Because at the end of the day, behind all of these real estate, projects, portfolios, opportunities, there lies people, and the people behind it is what is most important in any opportunity project. And so you really need to, to hang your hat with people that you feel 100% comfortable with.

Taylor   39:08

I totally agree I the way I think about it personally, for my own passive investments and my own partnerships in real estate, I want to be so comfortable with a potential partner, or partners that I would be okay, if they had every penny of my money, every single cent, I want to have that level of comfort in their integrity in their business in the investments that they do all of it. Now, that would be obviously a very stupid thing to do. For anybody. Yeah, nobody had nobody likes your money more than you do. Nobody likes my money more than I do. That’s my favorite dollars out there. But I think that is an aspiration, a good aspiration to have in your business and the partnerships that you form that you are, that have that level of comfort with people that you invest with,

Logan Freeman  40:08

there’s enough opportunity out there for everybody. And, and there’s also the right people for you to work with. In Kansas City is a great example of this is, you know, with a title company, how many title companies are there out there? Well, there’s a lot of them. Well, I networked until I found my title company that aligns with my values. Now all my clients work with them. Same with the lenders, I probably have nine active loans with a commercial lender right now. And he’s probably got five more of my clients, you know, so at the end of the day, there’s people behind every service that you that you can find and that you that you need.

It’s really important to build your team around the people that you want to do business with, and you can trust. And so the most valuable asset that I have, and the way that I differentiate myself is my relationships, just like I’m a broker of real estate, I, I’ve learned that more valuable than that is the brokerage of my relationships and the doors that I can open to.

Taylor   41:15

So my favorite question that I asked here at the end of all the interviews, is what is the most important lesson you’ve learned and invest?

Logan Freeman  41:24

I would say, you just you have to slow down to go fast. And, you know, you get really excited about different projects, different, different ideas. And you can kind of get yourself worked up in a, into a, into a realm that you you, you end up not taking any action because you just there’s so many different things that you can be doing. And I think there’s there’s that, that line of, you know, paralysis by analysis. And at the end of the day, read Stephen Covey’s book, The Seven Habits of Highly Effective People start with the end in mind.

Ask yourself, What do you want, and then figure out the best way to go do that. And be and be patient. Because real estate, any endeavor really is not a get rich quick scheme. And if it is, you probably should be thinking twice about whatever it is. So yeah, so long, I think the best. The best advice that I can say and the best real estate or just investing advice that I have is Be patient, slow down, to go fast, and be quick, but don’t be in a hurry.

Taylor   42:34

Where can folks get in touch with you?

Logan Freeman  42:37

And you can reach me on all the social media channels. My handle is just at live free investments. So that’s on Facebook, Instagram, Logan Freeman on LinkedIn, but the best way is probably just to go to my website, www.Livefreeinvestments.com.

That’s just www.Livefreeinvestments.com and you can see all the projects that I’m working on and and there’s a contact me button on there and I’m really accessible so I can if anybody’s interested in the Kinsey market or just learning about how the heck I I fell into a couple syndications and now raising equity for large projects, I’m happy to chat with them. It’s always a passion of mine to be able to provide value.

Ziegler said that if you help enough other people get what they want in life, you’re ultimately going to get what you want. And that’s the mantra that I live by.

Taylor   43:33

Awesome. So live, free investments.com. And looking at it right now to gorgeous website, you’ve got a nice, nice designer and it’s easy to navigate. So if folks want to get in touch with you them, I’m sure they’ll be able to do that.

Thank you for joining us today. And it’s been a great conversation. I encourage everyone to if they’re interested, reach out to learn more about what you’ve got going on and where you’re going to be in the future because I’m sure it’s going to be sure you’ve got a lot, a lot ahead of you. So thanks for all the lessons today and we’ll talk again to you soon.

Logan Freeman  44:06

Thanks, Taylor. All right. Take care.

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