The Wealthy Women’s Way with Liz Faircloth – Ep 386

The Fastest Way To Build A Six Or Even… Seven Figure Real Estate EMPIRE! 

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Liz Faircloth is a real estate investor and entrepreneur with over 17 years of experience. She is the co-founder of the DeRosa Group, a real estate investment firm with a $130 million portfolio. Liz is also the co-founder of The Real Estate InvestHER, a community and platform that empowers women to live financially free on their own terms.

Liz Faircloth discusses the current state of the real estate market and economy, specifically in relation to commercial real estate investing. She emphasizes the importance of creative financing strategies and negotiation of terms in order to navigate the challenges of higher interest rates and inflated sale prices. Liz shares her own experiences and pivots in her real estate investing journey, highlighting the need to focus on one’s strengths and adapt to changing market conditions. She also discusses the unique challenges and opportunities for women in the industry and the importance of building a supportive community.

Key Takeaways with Liz Faircloth

1. Creative financing strategies and negotiation of terms are necessary in the current market.
2. Women investors are shifting to being passive and lending money to each other.
3. Women bring unique strengths to the table, such as trust in themselves and the ability to navigate uncertainty.
4. Building a supportive community is crucial for women in real estate investing.

Liz Faircloth Tweetables

“..Liz identifies the first psychological hurdle for women in entrepreneurship as not recognizing their own strengths and undervaluing what they bring to the table..”

“..The Real Estate Invest Her community offers free events, a Facebook community, investor meetups, and an annual conference to connect and support women in their real estate journey..”

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Josh Cantwell:   Welcome to the Accelerated Investor Podcast with Josh Cantwell. If you’re looking to retire early with forever passive income, you’re in the right place. This podcast is the go to destination for real estate investors, both active and passive, and multifamily apartment investors, both new intermediate and advanced. Now sit back, listen, learn, and accelerate your business, your life, and your investing with the Accelerated Investor podcast. [INTERVIEW] Josh Cantwell: So hey, Liz, thanks for carving out some time. Welcome to Accelerated real estate investor. Liz Faircloth: Thank you for having me, Josh. Excited to be here. Josh Cantwell: Yeah, it’s been a minute. We have Matt on the show a long time ago. It’s going to be great to get caught up with you and talk a little bit about real estate investing and entrepreneurship from your perspective. Can’t wait to hear more about the investor community and some of the things that you’re doing, specifically with women and with entrepreneurs, and it’s going to be amazing. So thanks for carving out some time. Liz, I would love to hear, as we kind of kick things off a little bit more, about your thoughts on today’s market and economy. As you make investment decisions, as you lead your group, as you make investments, as you speak to your investor community, what are some of the things that are on your mind today regarding the economy, and specifically about commercial real estate investing? Liz Faircloth: Yeah, absolutely. There’s a lot of pieces of the puzzle. Like, my husband and I have been investing since eight, so I’ve been kind of through a few different cycles, if you will. And so what I’m seeing right now and I can kind of share what we’re doing from an active perspective in investing and also what we’re seeing a lot of the women in our investor community doing. So what are the struggles with interest rates higher? Liz Faircloth: And I would say at the same time, owners are still pretty committed to their prices and their sale prices, if you will, that hasn’t necessarily corrected. Right. And so with those pieces of the puzzle, I think creative financing strategies are necessary, negotiation of terms is necessary to kind of get deals done. A lot of women are struggling with just deals, not penciling out properties, not penciling out, not making financial sense. Liz Faircloth: Now we raise investors right on the active side. So that’s incredibly important, whether it’s I guess you could just park your money and lose money for a few years on a property, but when you’re raising money and you’re working with 400 plus investors on the durosis side, you can’t do that, right. There’s expectations and a level of integrity and returns that everyone expects, regardless of the economy you’re in, right. Regardless of what’s happening. Liz Faircloth: So I think there’s a couple of things. Number one, I’m a big believer. There’s always opportunity, and right now I’ll give you a couple of examples, even just from the active side. So about a year ago, it was our last purchase of a large multifamily. Just so many of our projects. We’re not new to this. We’ve been investing for 17 years. We have the track record, we have the financial stability, we have all those pieces of the puzzle, but we’re getting over outbid on a number of properties. I can’t even tell you how many we’ve gotten outbid. Liz Faircloth: So on one hand, you can say that’s frustrating, and then on the other hand, you have to pivot. And I think investors need to pivot right now and see, okay, what do I have at my disposal? What’s working for me? And then how do I progress in this current economy? So, for example, we’re not purchasing large multi, so we decided to put together more of like a blended fund where we’re lending that money out to people who are doing new construction projects, what have you, and that fund is doing really well. So what did we have at our disposal? We have a track record of raising money and getting the returns for our investors and honestly protecting their money. Right. Which is critical. Liz Faircloth: And the economy is the way it is. People are still doing deals and especially short term projects. So that’s just an example of a pivot versus just, well, there’s no deals to be done. So I think mindset is critical. Knowing what’s needed in the community is critical. And also saying, what can I do based on my experience, my track record, and then focus on that. Last thing I’d say is a lot of women who are active are shifting to being passive. Liz Faircloth: So it’s a lot of opportunity to lend. Right now we’re lending even just I see a lot of women lending money to each other, partnering on deals where they’re actively not purchasing that multifamily they want to, but they’re at least making money in making a return on that one hundred k or that fifty k, or that two hundred k at ten percent or whatever they negotiate. So I think it’s a pivot, and we have to kind of think like, what’s the end game and how do I keep my money working even if it’s not this beautiful home run deal? Josh Cantwell: Yeah, I love it. You mentioned pivoting several times. You mentioned you’ve been investing since 2008. Why don’t you talk for a second from an entrepreneurial perspective and specifically for women, about this myth that’s out there as an entrepreneur, that you’re going to be able to start a business and run that business in the same way, the same kind of straight line for 15 to 30 years. And at the end, you’re going to sell this business, get this big windfall. Josh Cantwell: That’s a myth that just doesn’t exist. Pivoting is part of entrepreneurship. Tell me a little bit more about your story since 2008. How many times have you pivoted and how important has that been to consistently being successful and being comfortable, maybe doing something for a while that’s really successful and then completely pivoting it away from it to make the next move? Tell me about that, since you mentioned it a few times. Liz Faircloth: Yeah, and actually our first property we bought was in 2004. Right. So pivot has been like our middle name. I’d say the first pivot, Josh, in a lot of ways was when we were buying small multifamily in really the New Jersey market. So you can pivot strategy, you can pivot geographical location. You can pivot so many different things, right? And so for know, we were flipping property, we bought some tax liens, we had a commercial building, and then we were buying multifamily. Liz Faircloth: And so I always say when you’re kind of, like, good at everything, you’re not great at anything. For us, we felt like we were stifled by our growth because we were spread thin. And so we kind of said, okay, where are we having the most success? Where do we need to double down? And that’s a pivot. When you start to say no to things, and you say yes to one thing, I think entrepreneurs are very visionary oriented. I think they’re excited by a lot of different things. That’s kind of what the spark is for so many people that that can get very distracting and that actually can stifle your growth. And it quite honestly was stifling our growth. So we really doubled down on multifamily, and we also doubled down on building relationships with equity partners, lenders, and really raising money to purchase more. We were tapped out of our own resources at about 30 doors, and we just said, we really want to grow, and how do we do that? Liz Faircloth: So that was the first pivot. Pivoting meaning, okay, let’s get more focused on what we’re actually good at and some of these other things, like flips. It’s just distracting us right now. The next pivot for us was when we said we started to do more and more deals in new jersey. And I probably don’t have to tell your listeners about new jersey. I love it. I’m a jersey girl. But we’re not actively buying a whole lot in new jersey right now. We’ve sold most of our stuff, and so taxes just became too high. There was a lot of logistical red tape in the communities we were investing, and I can go on and on. So the next pivot was like, geographical location and size of multifamily. So we went from like a ten to an 18 unit to a 49 unit. And that 49 unit took us to Pennsylvania, which was the lancaster area, which is a little small, little town, cute. Josh Cantwell: Arts area, very familiar. Been there. My daughter played some soccer tournaments there. Liz Faircloth: Yeah, okay. And so we pivoted into a new area and a larger kind of unit count, not a different asset class, because, again, we were kind of just growing in that, and that was a big deal for us. The reason why it was a big deal, Josh, for us was that up to that point, we were doing all of our own property management. So we literally had the leasing know, we had someone doing tenant relations, we had our bookkeeper. We even had a construction arm of our business, like, literally. Liz Faircloth: And again, you have to look in the mirror and go, what do we do really well? And what don’t we do well? And I think that’s also a conversation. Josh right. So many entrepreneurs need to have. Josh Cantwell: Absolutely. Liz Faircloth: Bottom line there is that we actually looked at it and said property management takes a know, someone really overseeing so many different details. And when we looked at our own strengths and what we really wanted to be doing, we know we’re not the best at that operations of that management company. So we said, you know what, let’s start working with a third party management company. And that was our first time we pivoted into hiring a third party management company. Liz Faircloth: It was an hour and a half from our house. You would have thought it was across the country. Josh Cantwell: Right. Liz Faircloth:So that was a big pivot. It opened our eyes to, wow, we don’t have to do it all within 30 minutes radius of our home. We don’t even see deals within 30 minutes of our home. Let’s start looking elsewhere. And then that really brought us to Kentucky and North Carolina, which is the majority of our assets at this point. Josh Cantwell:So it’s interesting, guys, pivot again from okay, we moved from flips and tax liens and doing lots of different things. And what I wrote down, the pivot was like a whole pivot. What I mean is you didn’t add more things. You actually contracted the number of things you were doing. Liz Faircloth: Correct. Josh Cantwell: That was a pivot. Then you moved geographically, that’s a pivot. Then you added third party management, that’s a pivot. Then you started going from smaller multifamily to larger multifamily. Kentucky, north Carolina. That’s a pivot. And I think the first thing I want to say to our listeners is that is what I would consider to be a very natural migration, very natural decision making process for newer investors to focus on a ten unit or a 20 unit or a 40 unit and then looking more at geography. Where can I get more growth? Josh Cantwell: Where can I do what I’m best at? And I think that is a really straightforward lesson in not only entrepreneurship, but seeing what does the market do and what can we do well? Right. So now you’re in Kentucky. North Carolina. What happens from there? Liz Faircloth: Yeah. So then the Pivot became more of like me and Matt working side by side. So at the same time, as we scaled our multifamily and started to raise more money and bring more investors in, we had our first son, and for many years my husband and I were just didn’t think we were going to have kids, didn’t want kids. Not to go off on a tangent, but that wasn’t in our world. And so 2013 came around. I left my corporate job because I was doing that part time as we grew our business, and I said, I’m done with that. I’m going to retire from that. And we started to scale our business. Liz Faircloth: And so the question was, do I continue on full time? With my husband, or do I do something different at the same time? You start to lose yourself. I think all parents can, but especially just like I speak from a woman’s perspective, from someone who was traveling, building a business with my husband, and now I have a newborn. I left my corporate job and I really didn’t know my exact role within our business. Liz Faircloth: And I had this newborn, right. It was a lot of uncertainty in my world, and quite honestly, I felt a little lost. I loved my son and I wanted to be like the best mom, but I had this fire in me. I want to do something in addition, right? And there’s all types of people, but I knew that was in me. So the same time I met my now business partner from Invest Her, and we became really good friends. We started partnering on deals. Liz Faircloth:And then that led into another Pivot for me where I kind of let go of some of the active hand in hand partnership with my husband, where he’s brought in two other partners at this point to run the day to day of our syndication business. I’m really running the business on the investor side. Started out as a passion five years ago, where we just went to conferences and events and there wasn’t a lot of women there. And if they were, they’re on a panel and just talking about how it is to be a woman in real estate. We’re like, well, there’s a lot more to that. There’s a lot more to talk about than just that. Liz Faircloth: So we started a community, and we have a global platform where women can get connected and not only get the education, but get connected to each other so they can do more deals and create the wealth they want. Josh Cantwell: So the Pivot goes from now in Kentucky, Carolina, with your husband, now child, new mom, growing that now. Matt takes the DeRosa group with two partners. You’re kind of taking so if you’re listening to this in a podcast, you’re going to hear the term Invest Her and a little bit of the emphasis on the her part. Liz runs an organization called the Real Estate invest her community. So invest H-E-R Capital H-E-R her community. It’s a platform to empower women to live financially free on their own terms. She has a partner. Josh Cantwell: They have over 27 years of experience and $130,000,000 portfolio. They run 50 meetups a year. So, Liz, you mentioned this global platform. What’s kind of the mission of Invest Her? What are you trying to accomplish by putting that community together? Liz Faircloth: When we started, we knew there was something there, right. Because we were experiencing it ourselves, where we, like I said, go to events or I was even talked out of interviewing only women. Josh, I said, we want to start a podcast. I had a very good friend of mine tell me you’re going to run out of women. There’s just not that many women investors. I said, I don’t think so. I just don’t know them all, but I don’t think so. And we’ve done 400 episodes. Liz Faircloth: We don’t haven’t run out of any women to interview. Josh Cantwell: Nice. Liz Faircloth: Where we started in saying there’s a need for women coming together and supporting each other. We had a hunch. So now you fast forward and go, okay, what’s happening in the economy? What’s happening in the world? Currently, women control in the United States control $10 trillion. Okay? That number is going to 30 trillion in the next three to five years. So literally right now, women are going to be the amount of money they’re in control of. And that’s a lot of different reasons, right? Another podcast, whether that’s a death of a spouse, whether that’s an inheritance, whether that’s just money making activity. Liz Faircloth: But literally, that’s the stats that are there at the same time, fidelity has done a ton of research. The confidence level, again, not all women in our community, because their confidence is pretty high. But I’d say women in general, right? We’re being very general. Their confidence in investing, not controlling money, because controlling money or being the CFO of the household, that’s high. Very high. Actually, what’s very low is making investment decisions. And it’s 19%. Josh Cantwell: Yeah, I would say bliss. Just to echo that, I would put my wife in that exact description, like she’s the CFO of our house and paying the bills and running all of the kids high school and all of the different things that we do to support them and the children. And then paying for private school and saving for college and all those kind of things. But when it comes to investing decisions, my wife almost doesn’t even want to know sometimes, what are we doing to take the money that we do have and invest it? Josh Cantwell: He’s like, okay, cool. And when I start talking about it, sometimes she’s like, just go ahead, just go do it. Right? But like my mom and many women I know, if they don’t want to own those decisions, sometimes, at some point they’re forced, whether it’s an inheritance, death of a spouse. So just to echo that, I can see that in my own house, for sure, confidence level, running the CFO, very high. Confidence level, making investment decisions much lower. Liz Faircloth: The irony, though, is that in order to be a good investor, you actually need to be a good money manager, in my opinion. Right? Sure. That skill set is not that it’s not needed, actually, it’s interesting, right? Because women in our community are doing deals and they’re making things happen. These are seasoned women, right? And and have the and they want to be around like minded women who are doing it as well. Liz Faircloth: Women outperform statistically men as investors as well. So yet they don’t have the confidence as high wealth is the money is only going to be going up in the next several years, yet they actually because I think there’s a level of conservatism, I think there’s a level of cautiousness. But these are entrepreneurial women. When they make the call, it’s usually the right call, and they’re not just kind of randomly going into deals, and there’s not that men do, but there’s just this level of scrutiny. liz Faircloth: And so when it’s the right deal, actually make the right call, it’s just getting that piece of the puzzle. And so what we found, to be honest with you, is that there’s so much information out there, Josh, that it’s overwhelming because you can Google how to buy an investment property, and you will get plenty of information out there, more than we did when we were starting out. I wish we had that. That’s not enough, though, because it’s like we know how to lose weight, right? Liz Faircloth: Your intake of calories and what you’re doing to move your again, not rocket science, but yet every day more health, more exercise books come out. Like, no one knows this information. It’s the community part that we’re bringing to the table. And not just a random rah RA community. Not that rah rah is not helpful, but we’re like taking a stand for each other, supporting each other in a very meaningful way and calling each other up or out, if you will. If someone’s like, listen. LIz Faircloth: Hey, you said you wanted to buy your next property. What’s coming up for you? So there’s a lot of accountability, a lot of support, and that’s the kind of community we’re building. Josh Cantwell: Yeah, I love it. Liz Faircloth: And that’s the key to moving, I think, the confidence piece, because the bottom line is that there’s a multiplier effect with women and more than men in some ways, whether it’s a concert, whether it’s going to see the Barbie movie, whatever it is, when women do it together, there’s a certain energy and effectiveness. Investing is the same way. And so that’s what we’re trying to create more of through our conference and our community. Josh Cantwell: It seems a little bit OD to me knowing how women operate in that. And I’ve been to a lot of business conferences, and I’ve had some really good both male and female speakers speak about the difference emotionally and psychologically between men and women, right? And some guys make a joke, like if you take a woman out to a party, she’s going to meet 20 other best friends, and they’re all going to communicate and become close. And they ask each other real questions about life and about their families and what’s important to them, and they connect on a deep level. Josh Cantwell: And guys are kind of like, what do you do for a living? It’s like real shallow. Guys have a few friends, right, and they’re comfortable with that group of friends. And I don’t know if it’s because men inherently, like, over the last, whatever, 4 million years it’s like this creating this sense of security. We don’t want a lot of let a lot of people in because of the fear of that taking away from or demolishing what we’re trying to protect. Josh Cantwell:Like we’re protectors, right? Liz Faircloth: Yes. Josh Cantwell: Versus and you mentioned about women making really good decisions, like making a good call. My wife will often say, like, I’m never wrong about people and she usually isn’t. She’s maybe gotten one wrong that I could think of and happens to be my business partner, Glenn, that she thought she was really skeptical of and she had a lot of reasons to be skeptical, turned out to be an amazing relationship. Josh Cantwell: But when they make business decisions, liz, have you seen this like women’s intuition, right? Guys make decisions, we maybe trust someone too quick or we make too many investment decisions, get spread too thin, whereas women are a little bit more tactical, a little bit more careful, and because they get to know each other on a deeper level, then they can make really good investment decisions. Because a lot of times when we’re investing not a lot of times, every time you’re investing in someone, not really something. Josh Cantwell: Right. So because they’re investing in another person that maybe women have a better time, an easier time getting to know at deeper levels. At least that’s from my experience. My wife knows other women at a very deep level. I know a lot of guys on a very surfacey level. So is that a unique trait that women can take advantage of? Because a lot of them are quote unquote, built that way? I know my wife is she gets people right a lot. Josh Cantwell: Is that something that they could use as a confidence builder to say, lean in on your intuition, lean in on your relationship building that’s an asset for a woman entrepreneur or a woman investor? Liz Faircloth: Sure. Yeah. It’s interesting, right? Because just sidebar, before I joined, before as we were growing our portfolio, I had an expertise and I still do, in a personality assessment. So I do think, as you’re talking, Josh, I do think there’s a gender piece to so much in our society. Right. To say there’s not would be completely ridiculous. Then there’s an element of personality in addition to that gender piece. Liz Faircloth: And so what I mean by that is you have women to what you’re saying. Yes. Is there an intuition? Yes. I think it’s bigger than that because there are women that probably do just want a few relationships. They’re more introverts and the thought of having 20 best friends at the end of the party would overwhelm them as introverts, whether it’s a woman or a man. But I will say what you’re saying makes a lot of sense from the perspective almost like win win situations. So are a lot of women going to be like hardcore negotiators, like a win lose? No. What they’re going to do and I’ve seen this so many times before was especially in creative financing, seller financing. ): Liz Faircloth: Women are masters at that. Not that men can’t be, but there’s a level of trust. Right. There’s a level of and again, I’m not saying anything that’s not real. I’m not making it up or what you’ve experienced, Josh. So there’s a level of trust. You’re talking to a homeowner and you’re trying to figure out negotiate an actual deal. There’s a natural trust there, and it should not be taken advantage of, certainly. Liz Faircloth: But I’ve seen women really double down on that win win atmosphere versus let me get all mine. I have seen that as a very consistent trait for many women investors. And then you layer in the intuition, right. The ones that are especially more relationship oriented, that’s unstoppable. Right. Because you think about, I have a win win. I want to do what’s best for the situation. Now, the contrary to all that is not having boundaries and not being able to stand your ground and getting taken advantage of. Right. That’s another issue that could come up for certain women who are got it. Josh Cantwell: I love it. So I have a couple of quick, kind of fast hitting questions for you based on what I’ve learned in this last 1520 minutes or so, and I would love to hear your thoughts kind of quickly on each one. What do you think is the biggest for women, particularly? What do you think is the first big psychological hurdle that they have to overcome to just get into entrepreneurship and get into investing? Josh Cantwell: I love it. So I have a couple of quick, kind of fast hitting questions for you based on what I’ve learned in this last 1520 minutes or so, and I would love to hear your thoughts kind of quickly on each one. What do you think is the biggest for women, particularly? What do you think is the first big psychological hurdle that they have to overcome to just get into entrepreneurship and get into investing? Liz Faircloth: I think they have to get over the fact that there’s something out there that they need to have. Instead, they need to look inside themselves and say, what do I bring to the table right now? I think that’s the biggest hurdle because yes, we all have skills to learn yes. In order to be an effective entrepreneur. Right. There’s these ten qualities to be an effective entrepreneur or to be a great investor. Here are the ten qualities. Liz Faircloth: What I think is the myth is that so many women already have so many qualities they can bring to the table, whether it’s time, whether it’s money, whether it’s being more of a project management operational type, or you’re that visionary, you’re out of the box thinking about new opportunities. So many times we just say, we’re not that, so we don’t have anything we can bring to the table. And women want to be perfect in some ways before they even take that first step. Like, Well, I’m not an investor, so I can’t do that, versus, you have so much you can actually bring to the investment game and process that you’re missing that, yes, there’s maybe some gaps. Right. Liz Faircloth: What I think is the myth is that so many women already have so many qualities they can bring to the table, whether it’s time, whether it’s money, whether it’s being more of a project management operational type, or you’re that visionary, you’re out of the box thinking about new opportunities. So many times we just say, we’re not that, so we don’t have anything we can bring to the table. And women want to be perfect in some ways before they even take that first step. Like, Well, I’m not an investor, so I can’t do that, versus, you have so much you can actually bring to the investment game and process that you’re missing that, yes, there’s maybe some gaps. Right. Liz Faircloth: You have to analyze a deal or you have to figure out what the right market is to invest in. Right. These are core fundamentals. But I feel like women don’t give themselves enough credit, and that’s really the first thing we always tell women is what is that kind of personal inventory? What do you already bring to the table? All the other things. You could be a stay at home mom. You’re running a household. You have tons of skills. Liz Faircloth: I know because I’ve been home with my kids, I’ve been working full, I’ve done it all. And I’m like, these are the women you want running a property. Josh Cantwell: So run a biggest, biggest hurdle is give yourself some credit for what you do have what you do know, and lean in on that. Right. What do you think Liz is with all the women investors and entrepreneurs that you’ve been around through the Invest Her Community and the show? What do you think are maybe the one or two or three traits that you see in the most successful women that you’ve spoken with, you’ve mentored, you’ve interviewed? Josh Cantwell: Is there two or three traits that stick out that those women tend to have or those women tend to obtain through hard work and through doing deals and through experience? What are some of the common themes that you’re seeing? Liz Faircloth: I think number one, women who trust themselves, really trust their know is number mean. We’ve gotten a chance to interview Kim Kiyosaki on our show of a lot of women who are very successful. And not that you don’t doubt yourself. I don’t think that’s possible. Right. A human being is on some level going to doubt themselves along the way, like every day. Josh Cantwell: Every day. Liz Faircloth: But I think there’s this natural trust level. Like, if I get myself into this, I can figure out how to get myself out of this. So the level of trust you have with yourself, I think that’s number one. Number two would be number two would be they have this ability to put deals together and figure it out creatively and they’re able to tap who they know and how they know them. And that’s like the name of the game right now. Liz Faircloth:You might find a good deal, but how do you put it together? And they have this level of even if they don’t have all the pieces of seller financing or subject to or getting a debt equity partner. I’m sorry, an equity partner versus a private lender, they have this ability to kind of navigate a level of uncertainty. I think that’s also something that I’ve seen a lot of and women who don’t naturally have that shift to that right. Liz Faircloth: Or a partner right. Where they’re more cautious and they get entrepreneurship and they love it. They do need someone who can just maybe make decisions faster. Josh Cantwell: Sure. Liz Faircloth: I would say that’s the second one that’s pretty critical. I’d say the third one would be this. I think it’s decision making. I think decision making can really hold people back because especially women, they just don’t want to make the wrong decision. Based on what I said earlier and something that I work. Through. If I feel like I’m laboring make the decision, what’s my opinion here? I could be wrong, but it’s better to be wrong than not to make a decision. It just keeps us in this ebb and flow. And I think decision making, especially as an entrepreneur, is critical and it’s a must. Josh Cantwell: So critical. I was talking to a friend of mine last night. We were watching our daughters play volleyball together. They had their high school game and we were talking a little bit about work and he made a joke. He’s like, do you have to work tomorrow? And I said not like in a cocky way, but just in a matter of fact way. I’m like, not really. And I didn’t mean it to put him down or anything like that or bribe, but it was like I didn’t really have to work. Josh Cantwell: I don’t want to. Portfolio is doing really well. It’s really big. We got a lot of cash flow and equity and blah, blah, blah. But then what I did turn on when I say is, look, Ted, we’re just different in know you work with your hands every day. I have to make decisions, very tough decisions every day. And so my brain is constantly feel like there’s pressure, there’s something I have to decide on some decision or I have to prepare to make a decision that could be three months, six months, a year from now and I have to get ready for that. Josh Cantwell: The way that I allow myself to make those decisions, as you mentioned, Liz, about maybe not just women but men too, delaying making decisions or not making a final decision. The way that I reconcile that in my own mind is that I always try to think of worst case scenario, right? Because if I can get super comfortable with worst case scenario, then I’m much more quick to decide and make a firm decision. Like if that’s the worst that can happen to us, then here’s option ABC. Josh Cantwell: Option A is our best option. Let’s go with that because we don’t always know what the outcome is going to be. You have to make a decision with a lot of unknowns. As an entrepreneur, whether you’re male, whether you’re female, it doesn’t matter. You have to make a lot of decisions. So how do you reconcile that? You reconcile that to kind of get off the pot, if you will, and make the decision is I’ve got to reconcile what’s the worst thing that could happen? Josh Cantwell: And if I’m not comfortable with worst case then I’ve got to punt that decision. I can’t make that decision or maybe I can make a small decision that helps me move forward that is not a lot of risk to then get a little closer and close the gap on worst case. Worst case to me is if I can reconcile that I can make more decisions much faster. And so hopefully that’s something that whoever listens to this podcast, whether it’s my group, yours, they can use as one way to help them make more decisions, even if they’re small incremental decisions, is to say, well, if we decide this, what’s the worst that could happen? Josh Cantwell: We decide that, what’s the worst case that could happen? And sometimes it’s a group of small incremental decisions that ends up leading to the larger, okay, now we got to go do that, right? Big decision down the road. That’s how I reconcile it in my own mind a lot to just keep things moving forward. Because if you’re the CEO, you’re the decision maker, you’re the investor, you’re the entrepreneur. That’s like the number one thing you have to do is make decisions daily, sometimes 20 and 30 times a day. Liz Faircloth: And it could feel lonely. It could feel lonely because you’re making these decisions sometimes by yourself. And I think that’s also another trait. I’ve seen so many women who are successful is like having that tribe, having that group, having that ability to lean into people. We had a woman who was going back and forth with a sale of her property. She’s dealing with debt. She’s got a handful of properties looking to scale and she just felt stopped with which way should I go here? Liz Faircloth: So during a call, right? What are the options here? We’ve all been in debt. We’ve all made bad financial decisions. Anyone that has a night? I don’t know. You have the Midas touch. I don’t have the Midas touch. Josh Cantwell: I don’t either. Liz Faircloth: So it happens. And so what are you going to do about it? What are the options? And by the end of the call and the spreadsheet, she just felt comfortable and confident to make that decision. So I don’t think we have to put the pressure on. Like every decision is like this. I have to figure it out myself because that is also a trait that I see a lot of women doing and men possibly too. And it just limits your growth and you can’t see the blind spots. Liz Faircloth: And she felt comfortable to keep the property and then refinance even in today’s crazy interest rates or higher interest rates and move forward. Powerfully, right? And that’s the goal. You don’t have to figure it all out by yourself. There’s so many people that can support. Josh Cantwell: I think as an entrepreneur, one of the best things we can do is ask our group, ask our tribe, ask whether it’s our staff or our mastermind group. What if we did this, if we made this decision, what if our job as the CEO, leader, investor, entrepreneur is to try to see all the potholes see around the corner? And so if we ask what if, then you have to find out what other potholes are other people seeing? What are other women seeing? If I do this investment or if I make this decision about seller financing versus traditional keep this property versus sell it versus refi it. Josh Cantwell: What if what do you think? I think there’s a lot of smart people out there and I think a lot of times when we’re stuck and we have a hard time making decisions, we have a hard time making the next step, somebody else probably has the answer. We just have to be really good and really humble to go ask the question and understand and say, I don’t know everything. Let me go ask my group. Let me go ask my tribe. So, Liz, let me ask you this final question as we kind of wrap up the show. Here is for our women audience that want to engage with the real estate Invest Her. Josh Cantwell: That’s the website, by the way, guys. WWW therealestateinvesther H-E-R at the end. Go check that out. When they go there, Liz, and they want to engage in your community, learn more about it. What are they going to find? What should they expect? What’s going to be like the first thing that they experience if they go to the website and start to engage with you guys? Liz Faircloth: Yeah, I would say there’s a couple of ways. Right. So we have free events every month. Two events that we do, two to three events. These are high content, handpicked speakers, talking about business, real estate investing or something connected to self care. So those are our three pillars. We have a Facebook community of over 15,000 women that we literally are all over because there’s randomness that happens in Facebook groups but not ours because we’re so diligent to take it down, but to start getting connected to people. Liz Faircloth: I say the third thing as well is that we have investor meetups. We have over 50. So there’s a good chance that wherever you are and hopefully as we grow, there’ll be one in every geographical area where you can get connected to local women. So if you’re interacting people online, there’s that in person. That realness, right, of local women coming together. And all of our meetups are there to support that. Liz Faircloth: And then lastly, we have an annual conference. So I’d love for women to come out. We do a fantastic it’s called invest her con. We do it in June of every year. Next one is June 2 to fourth. Austin, Texas. Last year we had 500 women over 30 speakers. And really intentional, Josh, really mindful everything we do. It’s like, how do we support women to move on that journey? Josh Cantwell: Yeah, I love it. I’ve got some female women in our mastermind group that I’m for sure going to share this with, get it out to them right away. I would love for them to connect with you as know Lori and Tara and a few others in particular that I can think of. The last comment that I want to make, Liz, is the comment that you just made about self care. I heard a quote. I was in a CEO Mastermind with a guy named Vince Fisher. And one of the members of that group was a psychiatrist named Sean Stevenson. Josh Cantwell: Sean was in the group and he said, the cure for depression, the cure for anxiety, the cure is self care. That stuck with me. That stuck with me for eight years now. I heard that in 2015. And so many people that maybe are having a hard time making decision, maybe a mom that’s feeling anxiety about their child or somebody that’s feeling depressed about maybe the way they look in the mirror, the cure for a lot of those things is self care. Josh Cantwell: Self care. And I would add, then it’s the community self care. Community. Take care of yourself. Meaning eat healthy, go to the gym, go for a walk, listen to something positive, self care and then share that with the community. So for our investors, listeners, definitely engage with Liz and her group therealestateinvesther.com. Check that out. Liz, it’s fantastic. Thank you so much for jumping on the show today. Josh Cantwell: I loved all of your insights and all of your advice. Guys, check out again, the Rosagroup.com and the RealEstateInvestor.com for more information. Liz, thanks for jumping on the thanks, Josh. Liz Faircloth: Great, great being here. [CLOSING] Josh Cantwell: Well, guys, there you have it. I really enjoyed that episode with Liz. Man, being responsible to others is such a motivator. Giving to others, I feel so good about myself, right? Such and such a good place when I give to others. Number three, making a new decision. I remember when I was diagnosed with cancer and came out of my hospital bed and had an opportunity to restart my life, I had to relearn how to eat, I was not going to go back and redo my life the way I had been doing it, so making that decision. And then finally, as Caleb and I mentioned, don’t quit. Guys, listen, everybody can do this business. Everybody can be successful. Everybody can be a multimillionaire with real estate. Keep getting your education, keep listening to podcasts like this. But most of all, go execute, raise capital, make offers. Don’t quit. We’ll see you next time on Accelerated Investor.

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