Title: “Empowering Women in Real Estate: A Conversation with Liz Faircloth”
Episode: 215
Want to have a lot of practical advice on your real estate investing journey?
We have Liz Faircloth on the show. She is one of the co-founders of a massive movement, ‘The Invest Her’ podcast. Liz started in her 20s not knowing anything about investing, or business and with no money to invest. Now, she owns and manages millions of dollars of real estate.
Listen as she shares how she made this possible! Enjoy the show!
Key Takeaways:
[00:45] Introducing Liz Faircloth
[02:30] Shift to entrepreneurial mindset
[05:17] Discouragements along the journey
[13:13] Liz’ movement in real estate investing
[16:59] The Women Multiplier Effect
[18:55] Her Profit First Journey
[28:42] Best lessons she learned in life
[36:25] Connect with Liz Faircloth
Quotes:
[03:29] “There are so many different ways to serve. You can help more people.”
[05:50] “Insanity is when you keep doing the same thing repeatedly and not getting any results.”
[29:10] “The more I take time for myself and get my self-care needs met… I’m just a better mom, wife, and business owner.”
Connect with Liz:
Website: https://www.therealestateinvesther.com/
Tired of living deal to deal?
If you are a real estate investor or business owner who is tired of living deal to deal and want to double your profits, head over here to book your no-obligation discovery call with me. Either myself or someone from my team will hop on a short call with you to get clear on your business goals, remove any obstacles holding you back, and map out a game plan to help you finally start keeping more of the money you work so hard to make. – David
Transcript:
Speaker 1 (00:00):
So my point in saying all this is that it’s the knowledge in the community equals the confidence. So women lean into that confidence to say, Hey, who wants to do this with me? Or who thinks about this? It’s a natural occurrence. Women are doing that every year of their lives. They’re just not doing an investing yet, and that’s what we’re trying to shift.
Speaker 2 (00:17):
If you’re a real estate investor who’s sick and tired of living deal to deal, then welcome home. Hear from everyday real estate investors just like you, and discover how they’ve completely transformed their business by taking a profit First approach. This is the profit first for REI podcast, where we believe revenue is vanity. Profit is sanity. It’s time to start making profit a habit in your business. So here’s your host, David Richter.
Speaker 3 (00:44):
We have someone on today who has started a very big movement. If you have heard of the her podcast or that movement or that group. That is someone that we have today, Liz Faircloth, who is one of the co-founders, and she gives a lot of practical advice. I don’t care if you’re a man, woman, just very key things. If you’re a business owner, what are some of the best things you could do to make sure you stay on top and make sure that you don’t get drugged down into the mire of that business can become. So this can really connect it connected with me. There’s a lot of things that she said on here. I’m like, oh man, I got to implement this right away. And I hope it helps you as well too. Thank you for listening and enjoy the show. Hey everyone, it is David Richter here again on the Profit First R, a podcast here with Liz Faircloth. I’m super excited because she started a movement, which is a very significant movement. You might’ve heard of it before, the investor movement, and I’m really excited to talk about that, her journey in real estate, her journey also on the Profit First Path. But Liz, thanks for being on the show today.
Speaker 1 (01:42):
Hey, David, how are you? Thanks for having me.
Speaker 3 (01:44):
Yeah, yeah, I’m excited to have you here. So let’s dive right into it. I did, I did some snooping. I saw on your website you were introduced to Rich Dad Poor Dad. So was that your gateway drug into the real estate community?
Speaker 1 (01:57):
Yeah, that’s a good way of saying it, right? Yeah, it was my brother-in-Law. I was getting my degree in social work, so I was getting my master’s in social work and my brother-in-Law said in between all the textbooks, you might want to read this book. And I was 21, had no idea what he was even talking about, but I trusted him. He was the only person I knew that had ever started a business. So I said, all right, well, if he’s given me this book, I should read it.
Speaker 3 (02:22):
Okay. So that was it then What was the mindset chained after that or did you have an entrepreneurial mindset before that? What was it?
Speaker 1 (02:29):
Yeah, it’s funny. I come from two really hardworking parents. I didn’t know anyone that were real estate investors or entrepreneurs for that matter growing up. But I did have a couple of things. I sold Gatorade Gum random in sixth grade, so I was like, it was really hard to find very interesting gum. It literally Gatorade gum and I’d sell it on the bus and I was actually doing well with it, and then I got shut down. I should be selling it to kids on the bus, but it lasted a little bit like a month or so. So that was my first little business idea. And then the rest of my professional was always more of helping people, serving people. So I did take an entrepreneurial class at Wharton while I was at Penn on building a business. So that book made me think about entrepreneurship, and that was one action I took while I was in still getting my graduate degree, even though I was master’s in social work student.
(03:25):
And then that really inspired me. There’s so many different ways to serve. You can help more people and you don’t have to do it the way everyone else has done it, like an employee mindset. So yeah, it opened my eyes and then real estate itself was like, wow, you can actually transform a property and you can see it. It’s brick and mortar investment, which always intrigued me. Not that I knew that many other investments, but that was a very intriguing to me like, okay, I drive past properties all the time and you see them beat up and you’re like, wow, I can make something better with this. I didn’t take much action then, but on real estate, but it began the process.
Speaker 3 (04:04):
Okay. So when I was snooping too, it looked like you put in lots of offers the first time when you were going down the real estate road. Was that true? Were you putting in hundreds of offers on properties or it looks like you took courses and went down that road eventually of diving deep into it?
Speaker 1 (04:19):
Yeah, we bought our first property, so I bought my first property with my then boyfriend, Matt, and we kind of did it together. I kind of initiated read this book and it was a couple years after I first read Rich Dad, port Dad, we started taking courses and it was really cool to do it with someone. I didn’t know anyone else. I didn’t know anyone that would have any interest in this. So when I met him and I gave him the book and we started talking about where we wanted to go in our lives, we had this connection. We’re like, all right, let’s do this together. So we started dating and we also started taking real estate courses the same exact time, and we did put a lot of offers in hundreds, and we took courses for a year and a half, didn’t make any progress. And then we got one offer accepted on a duplex in a little town called Roxboro, and we bought it in 2004.
Speaker 3 (05:10):
That’s awesome. Okay. Year and a half, hundreds of offers. Were you feeling discouraged at any point along that journey?
Speaker 1 (05:17):
Yeah, they tell you that that’s how it goes. Him and I have this very persistent keep going type of sometimes to a fault, right? But it does serve you in times like that, and I knew that was part of the process, and as I learned more about sales and I learned more about entrepreneurship, that’s just par for the course. You’re going to get nos you’re going to get, but we learned a lot and then we tried something different, and then we learned a lot and we tried something different. So we were making progress, I don’t think, and that’s the key, right? I mean, the insanity is when you keep doing the same thing over and over, not getting any results. But if you’re doing something and not getting the results you want and you’re tweaking it and you’re learning from it, that’s not insanity. That just sounds like it’s smart and you’re progressing. So we did that and then we finally got someone to bite on our offer.
Speaker 3 (06:09):
So I like to say a lot of times people have the make money scale and the keep money scale At that point of your life, it sounds like you were learning the make money skill because it didn’t sound like there was much entrepreneurialism beforehand. So this was your journey of learning to make the money, it sounds like.
Speaker 1 (06:25):
Correct. That’s a great way think. That’s a great perspective. Yes. That was more of the making money stage and more of that jumping in and making it happen type of stage.
Speaker 3 (06:36):
And how long were you a real estate investor from there? You got your first duplex, which is fun getting that first deal, getting it up and running to create a movement. What was that journey like going from real estate investor putting hundreds of offers in year and a half into it, you finally get your first one, and then when did you say, Hey, I need to help other people as well too, or bring other people on this journey?
Speaker 1 (06:59):
Yeah, it was an interesting journey. So for me, my husband and I had, I’m going to give you a little backstory so I can answer that question. Him and I had multiple roles together. I was in the business, I was was more strategic. I literally played all the roles in the company and we really built a multifamily business together, me and my husband, and then we had our first son 2013, and I decided to leave the consulting work. I was doing that quite a bit of my professional time and helping the business. So I decided to join him full-time in the business, and I had a new son. A lot of changes happening in your body, a lot of hormonal changes. Women listening know exactly what I’m talking about. And I started to really question what I was doing. I wasn’t happy here. I had everything I wanted.
(07:50):
I left the work that I was doing. We had enough passive income coming in for that I could make that decision. I had this healthy, beautiful baby boy and we’re building something really great together and something was missing. I think my purpose, I love real estate, but something was missing for me. And the next year or two, I then met my now partner, RESA, and we started talking and meeting and started bringing women together, not before invest her, but we just said, would it be great to get women together and to connect? And we did it over Skype old school, and we would just connect and share and talk and support each other. And I really was moved by that because I felt like my purpose and passion were also coming out in a topic of real estate. And so a few years later then, and Jess and I came together and said, let’s do something where, let’s create a podcast.
(08:45):
Let’s do something here that’s more than just a five person Skype group. And so that’s what we did. We started the real estate investor in 2018. I’m looking at the, yeah, I’m right, 2018. Oh my God, it seems like yesterday. And we then grew it into a movement in the sense of really what we believe is that every woman has a financial right to become financially independent. It’s a right. And so some of these women, it’s life or death. Some women just want to become more wealthier, and we just wanted to bring women together to do that in a confident focused way.
Speaker 3 (09:24):
So before you started it, were you going to other mastermind events as a real estate investor? Because I know if you’re on that journey for any amount of time, it seems like you always joined a mastermind at some point. So before investor, were you at these mastermind events?
Speaker 1 (09:39):
Were I had joined different coaching programs and there’s moments of my career with my husband in building our business that quite honestly we should have, and we were too cheap to do it, and we learned the hard way. Resa went through the Rich Dad coaching, so her learning was accelerated. I would say my learning was not because it was almost like the end of our tenure. We did a more formal coaching, but many years at the beginning, I did nothing that was paid. And you learn a lot either or, right? Oh
Speaker 3 (10:11):
Yeah, for sure.
Speaker 1 (10:12):
So what we wanted to do with investors is we wanted to create a community. We have 50 plus meetups where women come together and meet together. We have a conference, we have an online Facebook community that’s free, has 11, excuse me, 16,000 women for free that they can get support. And then we said, what can we put together? We were asked, what can you put together that would be something that women need and want? So we put something together for women growing their portfolios. They’ve done zero to five deals and they’re just looking to scale. They’re looking to build that team, build that process, or they’ve run out of their own money kind of perspective. So that’s what our mentorship program strive is. But we put something together and I think that’s a tip for everyone listening. When you’re putting something together, whether it’s a new company, a product, a service, you have to say, who’s the avatar? And I am the avatar. And then the next question is what do they want and need and what are they not getting anywhere else? So that’s what we put together, a mentorship program that we did not find and that we wished we wished we had. Because if I had that, I think it would’ve saved me thousands and thousands and thousands of dollars.
Speaker 3 (11:24):
Well, that’s why I wanted to ask, were you going to those other masterminds thinking they were catering mostly to men in the real estate world?
Speaker 1 (11:33):
I mean conferences, meetup groups, anywhere that you go at that time, hopefully we’ve helped change some of that with what we’re up to, but at the time it was very male dominated. When people think of investors, it’s still a white male, it’s Wall Street, and that’s even more on the stock side and stock side, not even the real estate side. So yeah, I think there was a lot of, when I used to go with my husband, they’d talk to my husband and ask him questions, and I’m like, I know that answer. I know that. Why are you asking him? I think that that still happens. You see a bunch of dudes that get together. I went to a soccer game recently and they’re talking about investing, and I’m like, if I just insert myself, I feel awkward, but I probably will. I probably know more than all these dudes combined, no offense, but no, I’m just joking. But I wanted to create a space. We wanted to create a safe space for women so they can get the support and not just the support David, but the knowledge and the community where the pendulum moves, right?
Speaker 3 (12:39):
Well, I hear nothing but good things. I go to different mastermind events, meetups, I travel too much. And it’s like I hear that out there and you’ve created a great community for that. Like you said, a safe place to be able to, and I love that It’s like I want everyone to be able to have this opportunity because there is real estate’s amazing. And it can create that opportunity for everyone in it. And I love the movement that you’ve created, which has been, I’ve heard it all over the place, so thank you. I wanted to publicly thank you for also creating this moment as well too. Thank you.
Speaker 1 (13:13):
I think the other part of it too though, for a lot of women and men in their own way, we all have our different areas. We didn’t want to create something that just talks about real estate investing. Yes, that’s a part that’s a big kind of key to the vehicle, if you will. That makes sense. We talk a lot about self-care. We talk a lot about running your real estate as a business’ and a lot of the A of work we’re doing both for free, whether it’s a free event we do or whether it’s in our mentorship program, it’s about peeling the layers of the onion back. So women come in, I don’t know how to do a 10 31, and it may not even be about that. It’s about their belief in themselves or something else getting in their way. So we do a lot of that work. So I feel like my social work training has served me well.
Speaker 3 (14:03):
Would you say that, I don’t know, as not being a woman, what would you say are the differences when you walk into a group, what would be the main things you’re trying to attack that blocks them, whether it be a woman or man, do you know the difference? Here’s the one thing that I’ve seen. It might be like you just mentioned belief in themselves and that self-confidence and we work on the self-care. Is that mainly on both sides? I don’t know. Just from your perspective and being able to work with, it sounds like you’ve worked with thousands and thousands of people. I’m very interested.
Speaker 1 (14:36):
You start to see trends, right? So yeah, exactly. What’s interesting, and there’s a lot of, I don’t know the researcher’s name, but there’s a lot of research that shows even back when men and women are in a classroom and they say who raises their hand first? And it might be the little boy or the little girl. It’s usually the little boy and he may not be right, and then the girl raises her hand and she’s usually right, but it’s taken her longer to raise her hand. And there’s a lot of different studies that have been done that show that. Whereas now, fast forward that to real estate. I’ll meet a guy at an event. I’m being a little generalized here, of course. Sure, of course. Please know that not everyone’s the same, but I’ll meet a guy at an event and go, Hey, how are you doing?
(15:18):
He goes, ah, I’m killing it. And I’m like, oh, that’s awesome. What’s your portfolio? And he’s like, I got five properties. I’m like, that’s great. And then I meet a woman. I said, how are you doing? I’m doing well. I said, how’s your portfolio? I just got started. I have five properties and it’s completely different way of being. That is not a one-time occurrence. I mean, that’s literally all I can go on and on and all the examples. What I think is the key is that, I don’t want to say it’s a confidence gap, but it is meaning I see so many women when they open their mouth, they know what they’re talking about.
Speaker 3 (15:59):
Yeah,
Speaker 1 (15:59):
Hundred percent. I do think some women being general wait to open their mouth until they know they’re a hundred percent right. So does that make them a little more of a cautious and a calculated risk taker? Yes. Is their investments usually correct? Yes. So it’s a good thing in some ways. So the confidence piece for us is that the old way of doing it is just knowing enough to do something. Okay, I’m going to get enough knowledge. I’m going to read enough books, I’m going to listen to enough podcasts. That doesn’t change anything. The confidence actually comes from the community, and that’s what we’re really, really leaning into this past July, 2023. It said, if you looked at the Wall Street journalist said Women owned the economy now beyond Taylor Swift, Beyonce and the Barbie movie, what did those three things have in common? Talented people. Yes. Great concerts and a great movie. Sure. It also, the pendulum shifted because women that called the Women Multiplier effect where women were going to those things in groups. And so women have this amazing ability to do things. You see that mud runs, you see that with, they come in drones, they come in groups. It’s like women go to the bathroom together, right?
(17:16):
No one’s go to the bathroom. Men don’t do that. So my point in saying all this is that it’s the knowledge in the community equals the confidence. So women lean into that confidence to say, Hey, who wants to do this with me? Or who thinks about this? It’s a natural occurrence. Women are doing that every year, their lives. They’re just not doing it in investing yet, and that’s what we’re trying to shift.
Speaker 3 (17:35):
I love that. I feel like you’ve tapped on a fundamental human. This is what you just said there. Women go to the bathroom together. It’s almost like that community really is the secret sauce of, I like how you put it too, helping them raise their hand faster to be able to say, Hey, I want that deal. This looks great. I have enough knowledge and I believe in this deal and myself to be able to take it down. It sounds like you’re really helping a ton of people out there in this space to be able to do that with the group and the movement that you have. So I love that, like you said, was it Knowledge plus community equals that confidence to be able to do that. So helping them raise their hand and get that done. I love this. This is good stuff. And you went from making hundreds of offers, getting your first deal, then doing real estate, but then figuring out that yes, real estate is great, but it’s not your passion. Your passion sounds like helping people to be able to have those confidence breakthroughs on the other side to really say, I did that. This is where and I can raise my hand. So then from there, we talked a little bit beforehand just so people that are listening. No, you’ve started the Profit First Journey. So you learned the make money skill. Was it then time to learn the keep money skill? It’s like I wonder what drove you to Profit First and to be able to at least take the first couple steps there.
Speaker 1 (18:56):
Yeah, I think for me and my, I will start from my days of when we started our own business, it was always like, we got to put money back into the business. We can’t pay ourselves first. And that was fair, right? So if like you said, well, why did you become so frugal sometimes? My dad was sharing over the weekend, he’s like, I didn’t have a choice. It wasn’t like I’m going to be frugal or we’re going to be just frivolous. I didn’t have that choice. So I think the level of frugality in keeping money as a saver, and if I was going to spend it, I’m going to spend it on other things and other people than myself that I think was instilled in me since a kid. So I’ve had a really breakthrough of that a bit from the perspective of the energy of we’re working so hard. I didn’t start this movement in communities, so I can get paid a lot of money. I mean, I could be doing a lot of other, no offense, there’s a lot of other things. If moneymaking was my only priority here, this may not have been my first thing I would’ve done,
Speaker 3 (20:03):
Right? Yeah, exactly.
Speaker 1 (20:05):
Because I’ve made money. I’ve made money in different areas of the world, so I kind of do have a comparison, but it is important. We have a business here. You could have a passion. I feel like we’re so mission driven. We are for-profit, but we are so mission-driven that literally everything we look at is like, is this going to fulfill the mission and the women we’re serving? When Justin and I are very, very focused on that, I always have been, but I’ll say not say, but I’ll say, and keeping the business growing and properly paying yourself is really important. So we’ve done it in baby steps. I’ll say too, for sure, David, for example, when the business is making money, it’s inappropriate for people that are the talent slash co-founders slash putting it all together in that role. Not from an operational perspective, but from a talent perspective to get paid something.
(21:04):
There’s no question you’d be paying a speaker, you’re the one host. It it’s, it’s a mindset thing. I think I’ve really undervalued myself many times over the years. I’m done with that. I really value myself and my expertise and what I bring to the table probably more than I ever have. And I think I had to do a lot of work to get there. And then that coincided with, as the business is growing, we’re creating value for other people, building a team, what’s fair and equitable as the company’s making money kind of thing. That was our thinking. And then we’ve taken steps to do that to also invest in the company. What’s the most, I don’t want to be like, I want to keep investing in this movement so we can quite honestly serve more people and serve more women. That’s my number one. But certainly I think it’s fair. It’s more than fair to feel, to feel credible, not credible, but my energy was spent here, my time, my expertise, and there is a fiscal energy that happens when money moves that you don’t realize. So yeah, so that’s what I would share with
Speaker 3 (22:17):
That. I had a big mindset block there as the owner of the company. It’s like, oh, but I want to make sure everything else is taken care of. And if it’s like, well, if I’m sucking air, then everyone’s going to feel it and I’m not going to bring my best self. So I feel that that mindset shift for sure. And that was definitely a journey for me. That’s why I even started this podcast and doing everything because that keep money skill, that make money skill. You can go out and work hard. I feel the keep money skill, you have to go out there and do a lot of internal work and mindset work to do that. I love what you said. You mentioned this, that you’re teaching the people in your community not just to be real estate investors, but to build real businesses and a real business owner knows to make it.
(22:56):
But then also what do I do with it when it comes in? So I love that you’re doing that. I feel like a lot of people miss the boat on the other side there. But I did have a question. I don’t know if, do you know when it comes to money and how people think about it being in that community that you have invest her? Do men and women think differently about money? Is there a generalization there that you’ve seen or patterns or trends or that? Because I like to ask a lot of people that, why do people get stuck in the real estate rat race living deal to deal? So I’m kind of wrapping that in that question here. Do you think there is a difference in the way men and women think about money? Or is it we’ve all got money hangups and they’re all pretty much the same?
Speaker 1 (23:43):
I met women who are spenders. I’ve met women who are savers. I’ve met men the same, although I find that they tend to be a little more spenders. I have met some savers though, and my brother-in-Law, I’m thinking about one of my brother-in-Law. But I do think the difference, and this shows you in the statistics, is that women actually out are 70, 75% of the CFO of their household. So when it comes to managing money, women actually do it more in a traditional household. They’re actually doing that and they’re running it. They’re running it very to the T. From an investment perspective, their confidence drops. So their confidence might be 70% on the CFO role. But when it comes to the investor role, it goes to less than 20%. So for the reasons I shared earlier. And so that I think is a dynamic that needs to change because women also outperform men once they start investing. So they actually make the right calls. So I think from a relationship with money though perspective, I think for me and Matt, my husband’s very much more a spender
(24:55):
And we wouldn’t have been able to live below our means if I wasn’t a saver. I mean if we were both spenders, I don’t think we would’ve gotten through the early years. Honestly. There’s no way it took my way of being like, no, we can’t spend any money to get there and to be like, no, we don’t need to go out to dinner. No, we’re not doing that. No, we’re going to live in this smaller house. And we made some tough calls, but I think those are the right ones. So I think where any of this happens is where are my money beliefs helping me or where are they hindering me to get me where I want to go? And I have to ask myself that every year. I mean now it’s a new year. I feel like I’m reevaluating not my money goals, but my worth and where do I want to spend money?
(25:39):
I mean, I spent more than $10,000 on health related things last year, and that was a lot for me. Some people are like, oh yeah, that’s not a big deal. I don’t mean doctor’s visits. I mean proactive, whether it was chiropractors or whether it was a brain scan I did, whether it was a coaching program, and that’s not even a lot for a lot of people, but I was really proud of that. You know what I mean? So back to my money relationship, me three, four years ago, no way, no way I would’ve done that. But as I up level myself putting money into myself and I’m writing a check for me, then I am able to move through those money hangups, if that makes sense.
Speaker 3 (26:23):
No, I like that. And I feel like with that answer there it is more. It just depends on the person. What is their money hangups? We all have a lot of ’em the same. There really isn’t gender specific ones because I honestly identify a lot with you. I’m more the saver as well too. Absolutely. And there was a lot of things I had to work through over the last few years. Being a business owner, it is okay to take money. It is okay to invest in yourself here this last year gym membership doing things that I might not have done before, personal trainer for some of the time too. It’s like, okay, I want to make sure that I’m actually getting on track and it’s okay to do some of this stuff to keep me healthy, to keep, make sure that I’m on the right track there too.
(27:00):
So I definitely resonate with that. But I will say I do agree with you that I feel like most entrepreneurs, especially when you go to the masterminds that are dominated by men, are mainly the spenders. It’s like, yes, we did a million dollars, but you spent 1.1 to get there. So it’s like, wait a second, wait. So it is that yin and yang, which it sounds like you had in your relationship, which that’s awesome. If you have a relationship where you’re both on the same page and you’ve got that give and take to make sure, yes, let’s buy the property, and then you’ve got like, yes, but let’s make sure the numbers work and what are we going to do with it as well too. So it sounds like you had that going into it, which fortunately a lot of people, it’s either one or the other is in it or they’re just a spender, or you’ve got two spenders or you’ve got just the one half of it.
(27:47):
So I think you hit the nail on the head there, which I’m glad you’ve got that community. You go back to the community because usually in the community you can find that into your yang or someone there that’s been through that journey right there. Absolutely. And giving you that help and guidance as well too. This has been awesome. I love, this has been a lot of fun. We’ve talked about a lot of things, especially like how you said one of the best things I thought was at the very beginning you said a word that I think resonates with a lot of people. Persistence. You are very persistent in your journey and not quitting and getting through it and coming out better on the other side, learning them how to make money now, learning how to keep money. So I just want to know through all your journey, is there any other advice or the best lesson you’ve learned through this? Whether it can be real estate, it could be just life lesson, could be business lesson, whatever it might be that you’d want to leave with the listeners.
Speaker 1 (28:43):
I think the more I’ve learned is that when I really take care of myself, like mind, body, soul, over the years I’ve done one, I run a lot. So I take care of myself, but really take care of your mind, like quiet time and solitude time. Now I have a weekly basis. I have two young kids, multiple different things happening. Businesses, people need me everywhere. I need to have solitude time. So I think as I’ve grown, maybe it’s my mid forties, I don’t know, but I’ve learned to the more I take time for myself and really get my self-care needs met on a weekly, monthly, I even have a checklist. I’m building out a really cool tool for people to do. What is my weekly checklist? What’s my monthly checklist? What’s my quarterly? And if I get those all met, my vitamins, I’m just a better insert mom, wife, business owner, and I’ve always appreciated it. I’ve always care of myself, but I’m taking care of myself to I think a different level now. Even my mental energy of like, I need to just put my phone away and just have a half hour
Speaker 3 (29:52):
Without. So there’s a practical one. Do you have any more, you don’t have to release the full checklist here, but do you have more of those things that you do for yourself on the self-care or obviously quiet time and getting away, but I’m just wondering what are some of those other things that you make sure you do
Speaker 1 (30:06):
Consistently? I’ve never been great at knowing how I feel as emotionally aware as I am. I am, I’m very, I know how people feel and very empathetic. I think I’ve allowed myself to move very fast at times through the next thing and just trying to get a lot accomplished that I’ll be frustrated and I don’t even know why I’m frustrated sometimes. You know what I mean? Yes. Having this, so I asked myself on a daily question, and we ask this to the women in our strive group all the time, but what’s coming up for me right now? So you’re not just pushing through it. You’re actually getting clear what’s happening right now? What’s coming up for me, zero to 10, where am I? So that’s just a simple way to emotionally scale where you are and also then get clear. Because for me, as personal growth oriented I am, some days I’m like, I don’t even know why I’m annoyed. I’m annoyed though. So that’s one thing on the checklist that I’ve been doing.
Speaker 3 (31:08):
So then they gave some practical tips, very practical of what to do, making sure that you have your alone time. I think that was so good that I feel like as people go on their journey, that’s more their answer as when I interview people that are closer at the beginning of their journey versus where it’s like, Hey, I’ve been in this. I’ve done a lot of properties. It really is about making sure that I’m the best human showing up, and what do I need to do to get there to that level, which I absolutely love that because then just makes a lot of the things easier in your life that you’ve got going on, especially if you have young kids and you’ve got real estate and you’re running a community and you’re doing all the stuff that you’re doing. It’s like you start stacking that stuff up. It’s the more time you need for yourself as well, too.
Speaker 1 (31:50):
David, can I give you one more too? That is a big one for our community. Yeah, go ahead. And this woman’s going to be actually one of our keynotes. She wrote the book called Boundary Boss. She wrote, and her name’s Terry Cole. Fantastic. We interviewed her. She’s speaking at our investor in June. Why I’m bringing this up though is that boundaries, I think is the second biggest thing. I’m naturally a ser aholic. I want to help everybody. I literally idealize Mother Teresa. She’s one of my heroes, and I just want to help and serve, and that is great, and that’s important. That’s who I am. And it can also get in your way of taking care of yourself. So something that we learned is that she talks about this in the book, and we have a book club. So what was powerful, she goes, you don’t have a time management problem. You have a boundary problem.
(32:43):
Meaning that it’s not a time issue that everyone talks about. I don’t have enough time to do this. I don’t have time to do that. No, you don’t. You have plenty of time. You just have a boundary issue, meaning you don’t have boundaries or you’re not expressing them. I don’t know about men and boundaries. I know my husband works through that. I just know for a lot of women, it really speaks to them, and it really is something that, it’s a learned skill to say no. Like, Nope, can’t do this. What do I need here? Oh, I can’t do that. It just becomes, some people are great at it, some people have to learn, especially various service oriented. So I’d say that’s the second one, is that I become so much better with saying, no, no, we’re canceling that. And that’s hard for me, but I’ve been much more defending my time, if that makes sense.
Speaker 3 (33:28):
Yeah, I agree. And I think it’s the same for men too. I grew up people pleaser wanting to say yes to everything. Then you get into business in the first few years. You’re trying to say yes to everything, to every opportunity,
Speaker 1 (33:38):
And then you’re like drowning.
Speaker 3 (33:39):
Exactly. Then you’re drowning and you get a life and a family, and it’s like, wait a second. I have to learn to start saying no. So yeah, I totally resonate with that. That’s great. I like the book Boundaries by Henry Cloud, but I’m going to need to read that one too. That one sounds really good as well. Yeah, it’s great.
Speaker 1 (33:55):
She’s great. She’s a therapist from New York, Terry Cole, but it’s a great, great book. Gives you a lot of great practical things.
Speaker 3 (34:01):
Boundary Boss is what you said? Yes. Okay, awesome. I’ll writing that one down, boundary Boss, because
Speaker 1 (34:05):
She’ll be speaking at our conference. So why
Speaker 3 (34:08):
Don’t you talk about that, because you’ve dropped a ton of knowledge and a ton of practical tips here. So how can people give back to you and what do you have coming up? Where do you want to point people? And sounds like you’ve got a big event.
Speaker 1 (34:20):
Absolutely. We have, and just for the men and women listening, we have free events twice a month. So these are great sessions coming up and they’re free to attend. So please feel free. We got one on RV parks. We have ones on creative financing, just really core topics to our industry. But yes, our big, big event, and that’s on our website. You can go to our website, the realestate invest her.com/events. But the other thing is we have our investor coming up. It’s a two day conference. This will be our fourth year. We have 500 women that come out, 30 speakers. Our theme this year is all in because of the women’s, the women’s financial revolution. Not to briefly say that women in the next three to five years, it’s going from 10 trillion to $30 trillion where women nationally will have more money at their disposal, if you will.
(35:21):
And a lot of women don’t have that level of confidence to where to go, where, who do I invest in, what do I invest in? So that’s the theme. And then we’ll have speakers talking about the economy. We’ll have speakers to my business, and then we do mindful breaks. We do a lot of really cool things, and it’s really a very powerful couple of days. It’s like a big retreat, to be honest with you. It feels like a big, powerful, intimate retreat with 500 women, but very real, very core, very no nonsense. And so we do a little visualization, but it’s not too touchy feely. It’s very like we get to the brass tactics, David. We don’t, women don’t just run around and have fun all the time. It’s more of women are serious there. They’re like, I want to get the knowledge. I want to connect. I want to make deals happen. And that’s the kind of conference we have. So yeah, it’s in Austin, Texas, June 2nd to the fourth. Awesome. Yeah, that information is on our website.
Speaker 3 (36:20):
Yeah, I was just going to say website point again, where do they go so they can get that information?
Speaker 1 (36:25):
Yeah, that website in particular, it’s on our core website, but its Invest her con, the realestate invest her.com.
Speaker 3 (36:34):
There you go. So find it there. Make sure. And this is strictly for women, correct? Yes. I just want to make sure. Conference, yes. Everyone that’s listening here. And do you see that most of the women that come are investors themselves, or do you have people that are wives of some of the real estate investor men too as well? Because there’s probably a lot of men going to listen to this as well too, and it’s like, Hey, would this be a good conference for them to attend if they wanted their wife or if their wife wanted to find other women in the real estate community so they could maybe be on the, okay. I just wondered if that was open as well too.
Speaker 1 (37:08):
I would say that women come, they could be new to, we have a lot of women who are growing their portfolios, maybe have done a couple of deals. Then we have women who are professionally minded. They have the wherewithal. They just need the community. And the community, quite honestly. And some of the knowledge, maybe they’ve started another business or they’ve been home, but they know they have all these skills that they could be applying either or. These women are ready to go and they’re serious. So that’s usually the commonality. Plus it’s just great for women to get together and they start to build relationships. So they use this as a reunion. They connect and they’ll come for a week. It’s at a beautiful omni resort in Austin, so it’s a beautiful place that we’re having it too.
Speaker 3 (37:57):
Oh man. Oh, that’s good stuff. So there you go. No matter what, if you’re listening, man or women, it’s there in Austin, Texas, it’s in June. She gave you the website, and if your wife’s not in real estate, maybe this would be a great event to set her to open her eyes, get in the community, and if you’re wanting to start yourself or if she’s wanting to get into it, like, this is awesome. I fully endorse this. I hear nothing but good things when, like I said, keep saying that when I go around the country and hear about the conferences and hear about the different meetups. So this has been awesome. Liz. Thank you so much for being a part of this today. If you’re listening to this and you’re like, you know what? I can make money, but I don’t know how to keep it.
(38:33):
What the heck am I doing? I don’t have the C ffo in my life, whether it’s a spouse or a business partner or whoever it might be, head over to simple cfo.com. We can hook you up there with at least a call to point you in the right direction whether we can help you or someone else can, because you need to learn to keep the money. Don’t make it and not keep it. So there you go. Simple cfo.com. Again, Liz, thank you so much for being a great guest here and for spreading the message. Thank
Speaker 1 (38:58):
You so much for having me, David.
Speaker 2 (39:00):
This episode of The Profit First for REI podcast is over, but there are plenty more where that came from. Are you ready to learn how David and his team can help implement the Profit First system in your business? Schedule a discovery call@simplecfo.com right now. We’ll see you next time on The Profit First for REI podcast with David Richter.
