WEBVTT
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[SPEAKER_00]: The World Economic Forum recently released research that shows 40% of the skills that we rely on today will be changing by 2030.
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[SPEAKER_00]: One of the biggest takeaways of this report was that access to information will not dictate the success of real estate investors.
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[SPEAKER_01]: Well, we'll make a difference is their capacity to interpreting formation, lead teams, adapt quickly, and make strategic decisions.
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[SPEAKER_01]: So we have prepared part one and part two episodes, where we're going to break down the top six skills that you can start developing now.
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[SPEAKER_01]: Let's get started with the first three.
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[SPEAKER_01]: Welcome to the Real Estate Investor podcast.
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[SPEAKER_00]: A top 1% show helping women achieve financial freedom by investing in real estate.
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[SPEAKER_01]: And now, your host, Liz Faircloth, and Addressic Adele.
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[SPEAKER_01]: So this reports, identifies the growing capabilities across multiple industries.
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[SPEAKER_01]: So let's break down the first skill set, analytical thinking and problem solving.
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[SPEAKER_01]: many real estate investors have an opportunity to sharpen that skill in a single day every day.
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[SPEAKER_01]: Right?
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[SPEAKER_01]: We get to do that.
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[SPEAKER_01]: So when what exactly does that mean?
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[SPEAKER_01]: So the report talks about being able to analyze complex projects to evaluate patterns and really think outside the box.
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[SPEAKER_01]: when things are not obvious.
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[SPEAKER_01]: So when it comes down to real-state that can be applied when analyzing a new market, a partnership, passive investment deal.
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[SPEAKER_01]: The list goes on and on.
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[SPEAKER_01]: But let's talk about this Q itself.
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[SPEAKER_01]: Liz, do you believe that in order for somebody to develop this Q, they need to be a quote unquote analytical person?
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[SPEAKER_00]: I don't because I would be really
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[SPEAKER_00]: shit out of luck now for the generated people listening no i i think most people think they have to be this analytical personality to be effective in as an investor you don't necessarily have to be that personality but you need to develop a skill set and and here's what i mean by that right there's some people naturally right based on personality they're just data oriented people and and they're like that in every area of your life right on dressa you're you're analytical
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[SPEAKER_00]: in your personal life, in your professional life.
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[SPEAKER_00]: It's not like you.
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[SPEAKER_01]: I think I medium.
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[SPEAKER_01]: Communionals, people that, I'm like medium.
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[SPEAKER_00]: You're me, you're probably our medium, and I agree with that.
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[SPEAKER_01]: I have some people that agree with you, like to analyze, and I'm like, I'm gagging here.
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[SPEAKER_00]: I agree with you.
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[SPEAKER_00]: I agree with you.
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[SPEAKER_00]: So I do think for me, right, thinking about my own personality, and then my own skill set, on as an entrepreneur, as well as as a real estate investor.
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[SPEAKER_00]: I think I come from more of a, you know, people orientation, building relationship personality, right?
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[SPEAKER_00]: And not someone who wants to get bogged out in tons of detail.
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[SPEAKER_00]: And quite honestly, I'm not the most fact-based person if I shouldn't be on a debate team, probably.
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[SPEAKER_00]: I don't know if you want me on your team on it on debating things.
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[SPEAKER_00]: I won't use charades with, yes, I'm very good with charades.
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[SPEAKER_00]: I know my, I know my, I know my kind of natural tendencies, I say not but but and as an investor, you do need to have it, could have a base minimum on analytics, meaning there's like analytical of like diving into deals, right?
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[SPEAKER_00]: I'm just a diving into the analytics of of income and expenses.
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[SPEAKER_00]: It doesn't mean you have to be the person that's taking the first stab at all of those analysis.
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[SPEAKER_00]: However, you need to have the strategic analysis to be able to say, okay, where are the trends moving?
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[SPEAKER_00]: What are the market demands of this community?
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[SPEAKER_00]: Does it make sense to do a fix and flip in this community versus a buying hold versus a short-term rental versus a co-living?
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[SPEAKER_00]: a luxury build right luxury bills aren't being done in every community why because the demand is not there very simple stuff however that is part of the analytical skill set something that comes up for me is there the community that I'm building a luxury new build there is an appetite there is again strong demand low supply always a good place to be in with real estate
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[SPEAKER_00]: Now, strategically, I'm already thinking about a future project.
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[SPEAKER_00]: Obviously, you've got to get this project complete.
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[SPEAKER_00]: But if I'm having success with the GC in the team, my next thought is, what's the next opportunity if I'm having success with what I'm doing?
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[SPEAKER_00]: So it's interesting because it's coming up from Eandres is that I don't know if it's luxury builds.
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[SPEAKER_00]: Number one, land of scarce on the river.
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[SPEAKER_00]: I'm not going to be able to build like 10 more luxury builds where I'm building right now.
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[SPEAKER_00]: It's the only one that's actually there that I can actually do.
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[SPEAKER_00]: What comes up for me is like, where are the trends?
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[SPEAKER_00]: What's the pain points in this community?
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[SPEAKER_00]: And we are in a more...
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[SPEAKER_00]: luxury boutique community and people like families coming into the community who want to actually have their kids in the school system they just can't afford to live here but just can't afford to live here it's as simple as that and i do think again depending on land there's a lot of question marks i have i don't have all the answers but if you can create
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[SPEAKER_00]: more attainable homes for people who want to live in these kind of communities, you're going to be on the side of solution.
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[SPEAKER_00]: Now again, I don't have all the answers on how to do that just yet.
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[SPEAKER_00]: However, that is an interest, right?
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[SPEAKER_00]: Something I make splore.
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[SPEAKER_00]: That's what being analytical in this business looks like.
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[SPEAKER_00]: You're already a few steps beyond, right, and just a
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[SPEAKER_01]: I want all of you that are listening to considering that all the different challenges that you face in your life, you build a muscle.
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[SPEAKER_01]: So I was born and raised in Brazil and
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[SPEAKER_01]: I come from the limited resources.
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[SPEAKER_01]: Don't get me wrong, I don't come from poverty.
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[SPEAKER_01]: And then like you're starving, nothing like that.
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[SPEAKER_01]: However, we had to really think about the resources that access in school when different areas to really,
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[SPEAKER_01]: do a lot with very little.
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[SPEAKER_01]: So that forced us to really be creative and problem-solving.
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[SPEAKER_01]: So when I come to the US and I saw the, for my master's degree, the bill was $75,000, and I needed to show that amount of my bank account in advance.
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[SPEAKER_01]: And when you do the currency transfer was five times more.
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[SPEAKER_01]: So of course, I didn't have that, right?
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[SPEAKER_01]: So I needed to think about how I'm going to do that.
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[SPEAKER_01]: So I leverage my relationships.
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[SPEAKER_01]: And I got a sponsor that put day or, you know, what, in the line in order for me to say, okay, this is how we're going to do it.
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[SPEAKER_01]: And I got a scholarship.
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[SPEAKER_01]: So they didn't have to pay for anything, but they trust,
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[SPEAKER_01]: And it's like my first private money lending situation, type of deal.
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[SPEAKER_01]: But for all the women that are listening, I want you to think about all the different things that you went through that are not necessarily related to real estate.
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[SPEAKER_01]: You guys solve different things.
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[SPEAKER_01]: For all the mothers out there, you're problem solving in a daily basis.
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[SPEAKER_01]: So I really want you to do not discard that's hillside.
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[SPEAKER_01]: I want you to bring that's kale set.
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[SPEAKER_01]: I don't care what that is.
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[SPEAKER_01]: It is the muscle that you cannot play and challenge the status quo.
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[SPEAKER_01]: That is I think what they are talking during this report and like,
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[SPEAKER_01]: how we are going to think differently.
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[SPEAKER_01]: Information is not going to be what differentiates successful investors from others.
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[SPEAKER_01]: It's their ability to think and collaborate faster in a dapped super, super fast.
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[SPEAKER_01]: So that's what we're talking about.
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[SPEAKER_01]: Let's go on one thing here, LIS, before we go to skill number two.
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[SPEAKER_01]: So analytical thinking and problem solving.
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[SPEAKER_01]: Everything that we do during investor con we want to make sure that you are applying those skills.
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[SPEAKER_01]: So here's a session at our upcoming investor con where you will be able to apply exactly what we just talked about.
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[SPEAKER_01]: So the session called spotting the shift to investing where the market is headed with Tricksie Castro.
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[SPEAKER_01]: She's going to share with you a framework that you can follow.
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[SPEAKER_01]: all about analytical thinking.
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[SPEAKER_01]: How does she separate herself from the market and look at the data in order to make the decisions?
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[SPEAKER_01]: The second session that we're going to have, it's one of my favorites.
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[SPEAKER_01]: It's a signature of investor Khan.
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[SPEAKER_01]: It's called Good Deal Bad Deal.
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[SPEAKER_01]: This is a hands-on session.
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[SPEAKER_01]: We had Kim Kesaki presenting two deals and we were like analytically
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[SPEAKER_01]: thinking, okay, which one would you invest and why were the holes all above?
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[SPEAKER_01]: This year, the theme is passive investing.
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[SPEAKER_01]: So how you can look at the deal and base on your goals and where
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[SPEAKER_01]: going your headed, which pass the investment deal you would invest.
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[SPEAKER_01]: So it's really a hands-on exercise and Whitney Huten is leading it.
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[SPEAKER_01]: She is going to really break down what questions should you ask when you're evaluating it?
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[SPEAKER_01]: What questions should you ask yourself?
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[SPEAKER_01]: And what questions should you ask?
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[SPEAKER_01]: The person that you're investing with.
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[SPEAKER_01]: So you know exactly if you guys are a good fit.
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[SPEAKER_01]: All right, the second skill set.
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[SPEAKER_01]: I love this one because it applies across any industry.
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[SPEAKER_01]: It's leadership and social influence.
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[SPEAKER_01]: And the word leadership is, I think it's very broad, right?
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[SPEAKER_01]: What does that actually mean to lead?
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[SPEAKER_01]: And I think many people believe that, oh, I don't need to develop that until I have a big team.
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[SPEAKER_01]: So it's like that corporate.
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[SPEAKER_01]: vision.
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[SPEAKER_00]: Well, what would you say, Liz?
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[SPEAKER_00]: You know, leadership isn't about leading a team.
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[SPEAKER_00]: It's about leading yourself, right?
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[SPEAKER_00]: It begins with yourself.
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[SPEAKER_00]: And what does that look like?
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[SPEAKER_00]: There are soil pernoirs.
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[SPEAKER_00]: There's a lot of women listening that are leading and they don't have a VA or they don't a virtual assistant.
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[SPEAKER_00]: They may not have even a GC.
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[SPEAKER_00]: We have some women doing all the work themselves for some of their projects.
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[SPEAKER_00]: And ultimately, you are leading yourself.
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[SPEAKER_00]: If you are the only person working for you right now, well, that's what you got, right?
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[SPEAKER_00]: And then we want you to move beyond that.
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[SPEAKER_00]: That's that's a lot of the work we do on just and I do an investor.
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[SPEAKER_00]: This is sustainable.
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[SPEAKER_00]: And it's not sustainable.
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[SPEAKER_01]: No, you can handle honey.
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[SPEAKER_01]: We know that.
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[SPEAKER_01]: We know that.
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[SPEAKER_01]: But, you know, that's not why you're investing in real estate.
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[SPEAKER_00]: to get an on their job and then right before we deal with let's go back but in order to in order to build a team you know we work with real estate agents you know team is so broad let's go back it really does begin with yourself and leading yourself means that you are aware of who you are you are aware of what you bring to the table you're even aware of your gaps
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[SPEAKER_00]: So every time I'm working on a project, my leadership begins with me assessing not just who I need, but where my gaps are.
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[SPEAKER_00]: On the team, in the process, in whatever we're trying to accomplish, so I can mitigate those gaps.
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[SPEAKER_00]: That's, I think, a critical leadership skill.
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[SPEAKER_00]: And if you think, oh, I could just do it all, or it's not a big deal, or we'll figure it out as we go.
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[SPEAKER_00]: You're going to be behind.
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[SPEAKER_00]: you're going to be behind because of just that nature of thinking.
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[SPEAKER_00]: So begins with yourself.
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[SPEAKER_00]: Once you get beyond yourself, it is about bringing other capabilities and capacities to the table.
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[SPEAKER_00]: And that's simple, right?
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[SPEAKER_00]: I mean, it's simple, but it's not always done, I should say.
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[SPEAKER_00]: And I also think it's common sense, right?
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[SPEAKER_00]: And dress up.
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[SPEAKER_00]: People would often say, yeah, build a team, build a team.
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[SPEAKER_00]: I don't think people though really step back and say, okay, who do I need to become in order for me to lead others?
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[SPEAKER_00]: And when I say that, the hardest part usually is when people don't report to you, they're not on your payroll.
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[SPEAKER_00]: You're influencing them, right?
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[SPEAKER_00]: There may be a contractor.
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[SPEAKER_00]: They're 1099.
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[SPEAKER_00]: Everyone I'm working with on my bill that I was sharing.
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[SPEAKER_00]: No one technically works for me, but that is my team right now on this project and how I enroll, how I'm clear with what I want and need all matters, right?
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[SPEAKER_00]: Who's leading whom?
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[SPEAKER_00]: I expect a designer to be leading me in design.
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[SPEAKER_00]: If I'm leading them in design, then one of us is not needed.
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[SPEAKER_00]: Now, who's leading the project?
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[SPEAKER_00]: That's me.
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[SPEAKER_00]: So, as you're exploring, what does leadership mean to you begins with yourself, and it also begins gaps, strengths, and then those A plus players around you, whether their contractors are not part-time, they're not.
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[SPEAKER_00]: The value and the quality of the person is the most important part versus like, are they full-time or are they part-time?
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[SPEAKER_00]: That's secondary, right?
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[SPEAKER_00]: That's what most people think about.
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[SPEAKER_00]: So, that's the work I think to be done in terms of leadership.
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[SPEAKER_01]: One of the, I would call quote unquote resistance of people leading and team is because they say that, oh, it's gonna take so much time to, you know, tell people what to do and all that.
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[SPEAKER_01]: So I wanna make a differentiation between leading and managing.
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[SPEAKER_01]: I think a lot of people get confused with that.
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[SPEAKER_01]: I was on my call a week ago with somebody, and she said, I have three VAs.
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[SPEAKER_01]: And I said, how often do you talk to them?
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[SPEAKER_01]: She said every day.
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[SPEAKER_01]: On Monday, I tell them exactly what to do during the week.
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[SPEAKER_01]: And then on Tuesday, I remind them of what to do.
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[SPEAKER_01]: And then I keep telling them what to do and reminding them what to do.
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[SPEAKER_01]: And I'm like, wow, that sounds overwhelming.
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[SPEAKER_01]: She's like, yes, I am, because I was told that higher of yay, and then they will save you time.
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[SPEAKER_01]: And now I am like spending so much time.
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[SPEAKER_01]: leading them.
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[SPEAKER_01]: I'm like you're not leading them.
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[SPEAKER_01]: You're actually managing them.
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[SPEAKER_01]: Have a call with them on Monday and they bring to you what it's the priority for the week with KPI's meaning how do we know we are making progress?
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[SPEAKER_01]: What is the deadline of it?
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[SPEAKER_01]: What we're trying to achieve?
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[SPEAKER_01]: And they know if they have a bottleneck, then they raise the issue to you.
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[SPEAKER_01]: And that's when you guys brainstorm, but there is not a possibility on earth that I'm going to have multiple meetings throughout the week in order for that to happen.
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[SPEAKER_00]: One of the simplest things that I think you and I have used this as a tool in our toolbox for many years.
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[SPEAKER_00]: And it seems so simple that I'm actually going to say this on air
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[SPEAKER_00]: Being on the offense is more important than being on the defense, meaning you're not reacting to your responding.
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[SPEAKER_00]: And one way to really set yourself up for success is literally to have recurring meetings with your team.
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[SPEAKER_00]: Members, whether the structure means a group or individually, just that alone saves what time does that save?
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[SPEAKER_00]: It saves tremendous amount of time.
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[SPEAKER_00]: And then everyone's clear on who's leading the call and what the agenda is for the call.
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[SPEAKER_00]: Obviously, that's important and critical.
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[SPEAKER_00]: But just having a recurring meeting with a team member is so useful and helpful.
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[SPEAKER_00]: But that's not done.
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[SPEAKER_00]: Well, I think that we went to a mastermind and dressed tonight this past weekend.
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[SPEAKER_00]: And we were talking about forget who we were talking to as we were a masterminding.
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[SPEAKER_00]: But we came up for how often do you meet with them?
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[SPEAKER_00]: Oh, we don't we just chat a little bit in the morning.
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[SPEAKER_00]: Hold on, hold on.
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[SPEAKER_00]: We can chat, but if people aren't structured in the sense of, okay, this is when we meet to talk about X, Y, and Z, and this is the expectation.
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[SPEAKER_00]: This is with success looks like.
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[SPEAKER_00]: You're all just kind of chasing your tail, their tail, and that to me is leadership.
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[SPEAKER_00]: That is one of the key parts of leadership is to have recurring meetings with your teams so you can move forward, right?
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[SPEAKER_01]: And I'll tell you, I'll be very honest.
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[SPEAKER_01]: Leading a team is a skill set that I have to develop, right?
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[SPEAKER_01]: Because I have a very little patient with people in general.
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[SPEAKER_01]: All right.
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[SPEAKER_01]: Yeah.
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[SPEAKER_01]: That's it is what it is.
16:18.164 --> 16:19.125
[SPEAKER_01]: I think fast.
16:19.165 --> 16:19.966
[SPEAKER_01]: I move fast.
16:20.486 --> 16:21.527
[SPEAKER_01]: I'm analytical.
16:21.647 --> 16:21.747
[SPEAKER_01]: Yeah.
16:21.767 --> 16:22.848
[SPEAKER_01]: I don't go around.
16:22.909 --> 16:32.858
[SPEAKER_01]: So the way that I had to find the right people to work with me, I had to sharpen my skills
16:32.838 --> 16:48.227
[SPEAKER_01]: And I had to find the right people with this skill that could be also a good match based on their experience and also put guardrails because it will make me nuts if I had to meet somebody every single damn day to remind them of things.
16:48.548 --> 16:52.315
[SPEAKER_01]: If I have to remind people of it, I'm not using tools.
16:52.295 --> 16:56.219
[SPEAKER_01]: I didn't set the expectation right, did you do it?
16:56.239 --> 16:59.643
[SPEAKER_01]: Oh, I thought it was for next week.
16:59.663 --> 17:02.325
[SPEAKER_01]: Oh, so let's put in place somewhere that we know.
17:02.386 --> 17:04.268
[SPEAKER_01]: We both know what the deadline is.
17:04.668 --> 17:06.710
[SPEAKER_01]: Where are we tracking all the above?
17:07.331 --> 17:12.576
[SPEAKER_01]: Otherwise, I think people spend so much time doing the managing of it.
17:12.716 --> 17:20.985
[SPEAKER_01]: Since there are tools, there are guardrails, stand operating procedures that can reduce so much waste of time, and then when they meet,
17:20.965 --> 17:27.895
[SPEAKER_01]: is to solve a problem, to achieve a goal, to brainstorm a bottleneck, that is holding them back.
17:28.015 --> 17:30.719
[SPEAKER_01]: That's when the brains come to play.
17:31.059 --> 17:34.104
[SPEAKER_01]: Not to say, we can't find this link, come on.
17:34.665 --> 17:35.446
[SPEAKER_01]: So let's go it, right?
17:35.646 --> 17:36.708
[SPEAKER_01]: Who has time for that?
17:37.048 --> 17:42.496
[SPEAKER_01]: And I think that that's sometimes the frustrations of a lot of investors that they are managing.
17:42.556 --> 17:45.420
[SPEAKER_01]: And of course, you're damn overwhelmed.
17:45.400 --> 17:45.741
[SPEAKER_00]: Yeah.
17:45.781 --> 17:45.941
[SPEAKER_01]: Right.
17:46.462 --> 17:50.269
[SPEAKER_01]: Which leads to, you know, this, you're talking about partnership.
17:50.349 --> 17:52.734
[SPEAKER_01]: I start with ourselves and then with the team, right?
17:53.595 --> 17:56.380
[SPEAKER_01]: Another layer is when you have a partner.
17:57.102 --> 17:59.206
[SPEAKER_01]: You're running a business with your partner.
17:59.626 --> 18:01.891
[SPEAKER_01]: What do you do when you have two leaders, right?
18:02.492 --> 18:02.892
[SPEAKER_01]: Then what?
18:03.293 --> 18:07.020
[SPEAKER_01]: So when it comes down to leadership, we have a session.
18:07.000 --> 18:13.775
[SPEAKER_01]: I'm very excited that you guys are going to be able to attend at InvestorCon with Castle Azero.
18:14.396 --> 18:23.215
[SPEAKER_01]: Castle Azero has been mine sold their company for $745 million to Salesforce.
18:23.536 --> 18:24.638
[SPEAKER_01]: You heard it right.
18:24.618 --> 18:33.577
[SPEAKER_01]: So they went from bankruptcy to selling it, building and successful businesses together, and also being married.
18:33.818 --> 18:35.802
[SPEAKER_01]: So they're all about partnerships.
18:36.283 --> 18:40.011
[SPEAKER_01]: And she's going to be breaking down what it takes.
18:40.767 --> 18:45.720
[SPEAKER_01]: to lead a team, lead a company, and also lead one another.
18:46.141 --> 18:51.294
[SPEAKER_01]: What are the roles and all the good stuff about having a partnership?
18:51.314 --> 18:52.538
[SPEAKER_01]: How to deal with conflicts?
18:52.878 --> 18:55.806
[SPEAKER_01]: And still focusing on the growth of our business.
18:55.786 --> 18:56.307
[SPEAKER_01]: Was that?
18:56.748 --> 18:57.369
[SPEAKER_01]: Conflict.
18:57.429 --> 18:58.231
[SPEAKER_01]: I don't know about that.
18:58.251 --> 18:59.814
[SPEAKER_01]: What are you talking about, right?
18:59.934 --> 19:04.143
[SPEAKER_01]: So it's crucial that we'd also develop the skill.
19:04.543 --> 19:08.571
[SPEAKER_01]: It's not something that, oh, they have the secret sauce and that cannot duplicate it.
19:08.952 --> 19:15.465
[SPEAKER_01]: Every single session and investor con, we are really like squeezing from each speaker.
19:15.985 --> 19:21.016
[SPEAKER_01]: What is that you learn and how can they be transferable to every single attendee?
19:22.078 --> 19:25.445
[SPEAKER_01]: Liz, skill number three, I think is one of my favorite.
19:25.967 --> 19:28.071
[SPEAKER_01]: It's all about clear communication.
19:28.996 --> 19:39.412
[SPEAKER_01]: And I, throughout the years, and to something that I don't think it's something that I'll ever stop, I probably will be listening to this podcast years from now.
19:39.452 --> 19:42.917
[SPEAKER_01]: Like, what the hell was it trying to say, right?
19:43.398 --> 19:48.526
[SPEAKER_01]: Because that happens when I look at emails that I stand in the past or social media polls.
19:48.546 --> 19:50.309
[SPEAKER_01]: I'm like, what the hell was trying to say there?
19:50.789 --> 19:51.651
[SPEAKER_01]: That's unclear.
19:52.252 --> 19:57.720
[SPEAKER_01]: So I'll tell you story that that happened to his and I,
19:57.700 --> 20:06.791
[SPEAKER_01]: to go through a communication workshop and had this character, he's a character, packed his name, I was leading the group.
20:06.811 --> 20:12.679
[SPEAKER_01]: So several entrepreneurs stood up and shared what did they do.
20:13.159 --> 20:14.621
[SPEAKER_01]: Very simple, short and sweet.
20:15.662 --> 20:20.849
[SPEAKER_01]: And this women stood up and she shared the fallen sentence.
20:20.869 --> 20:22.871
[SPEAKER_01]: And this was years ago, and I still remember it.
20:22.951 --> 20:27.437
[SPEAKER_01]: She said, I help entrepreneurs
20:28.582 --> 20:30.064
[SPEAKER_01]: crazy to lazy.
20:30.745 --> 20:32.868
[SPEAKER_01]: And I'm like, what did I hear that wrong?
20:33.068 --> 20:39.757
[SPEAKER_01]: Did she just say that she helps crazy people, only crazy ones go from crazy to lazy.
20:39.777 --> 20:42.000
[SPEAKER_01]: And how is lazy better than crazy?
20:42.460 --> 20:42.681
[SPEAKER_01]: Right?
20:42.781 --> 20:43.462
[SPEAKER_01]: I had a lot of questions.
20:43.482 --> 20:44.503
[SPEAKER_00]: A lot of questions.
20:44.663 --> 20:45.244
[SPEAKER_01]: A lot of questions.
20:45.264 --> 20:45.925
[SPEAKER_01]: A lot of questions.
20:46.205 --> 20:46.686
[SPEAKER_01]: A lot of questions.
20:46.706 --> 20:51.773
[SPEAKER_01]: And then Pat has this thing that he pretends he was calling his sister.
20:51.913 --> 20:54.276
[SPEAKER_01]: So, so we could hear what we just said.
20:54.316 --> 20:55.197
[SPEAKER_01]: He's like,
20:55.177 --> 21:04.371
[SPEAKER_01]: So he pretending that he's calling his sister say, hey, I have somebody here and she's helping entrepreneurs going from crazy to lazy.
21:04.391 --> 21:05.473
[SPEAKER_01]: Do you have anybody?
21:05.513 --> 21:09.058
[SPEAKER_01]: And they're like, well, that sounds very weird the women said.
21:09.078 --> 21:10.080
[SPEAKER_01]: I was like, exactly.
21:10.100 --> 21:11.963
[SPEAKER_01]: So what does that actually mean?
21:12.023 --> 21:14.587
[SPEAKER_01]: He asked a lot of questions.
21:15.007 --> 21:21.437
[SPEAKER_01]: So in a nutshell, this woman was helping entrepreneurs that have chaotic.
21:21.417 --> 21:35.372
[SPEAKER_01]: businesses for the lack of systems and processing place, putting those things in place, so they can then go to vacation spend time with family at the beach and not doing anything.
21:35.693 --> 21:39.777
[SPEAKER_01]: I'm like, that's very different to what you just said.
21:40.438 --> 21:48.707
[SPEAKER_01]: And my point list is that I believe that now
21:49.058 --> 21:54.487
[SPEAKER_01]: to be clear, but they don't read what chatted to be gave them.
21:55.368 --> 21:59.275
[SPEAKER_01]: And then they send in, or they post it without really looking at it.
21:59.535 --> 22:00.096
[SPEAKER_00]: It's too confusing.
22:00.116 --> 22:00.938
[SPEAKER_01]: Still confusing.
22:01.398 --> 22:02.200
[SPEAKER_01]: Still confusing.
22:02.260 --> 22:03.722
[SPEAKER_01]: I don't even know what does that mean.
22:04.283 --> 22:12.737
[SPEAKER_01]: So one thing that I will recommend all of you that are listening, ask chat to criticize what you wrote, say critique what I wrote.
22:13.055 --> 22:15.099
[SPEAKER_01]: Point it out any gaps that you see.
22:15.259 --> 22:21.130
[SPEAKER_01]: If you were reading this for the first time, would you be confused and what questions would you ask?
22:21.150 --> 22:29.646
[SPEAKER_01]: So you're basically playing Davils advocate against yourself in order to become more and more clear.
22:29.626 --> 22:29.986
[SPEAKER_01]: Right?
22:30.467 --> 22:33.231
[SPEAKER_01]: And that that's something that I do it all the time.
22:33.291 --> 22:34.252
[SPEAKER_01]: I'm like, oh, okay.
22:34.513 --> 22:34.913
[SPEAKER_01]: All right.
22:35.734 --> 22:38.057
[SPEAKER_01]: Because I linguist is not my first language.
22:38.238 --> 22:40.561
[SPEAKER_01]: So I might think I'm saying something.
22:40.661 --> 22:41.963
[SPEAKER_01]: Probably just happening now.
22:42.704 --> 22:44.566
[SPEAKER_01]: But I have not actually, right?
22:44.626 --> 22:45.868
[SPEAKER_01]: So it's a constant.
22:46.469 --> 22:48.091
[SPEAKER_01]: It's a constant evolution.
22:48.672 --> 22:51.195
[SPEAKER_01]: How how did that show up for you, Liz?
22:51.175 --> 22:59.322
[SPEAKER_00]: The other thing that pops in my head when I think about really clear communication is the differences of how people actually communicate.
22:59.483 --> 23:01.905
[SPEAKER_00]: So, like you were just saying, or just, right?
23:01.925 --> 23:02.986
[SPEAKER_00]: And this is not your first language.
23:03.026 --> 23:06.369
[SPEAKER_00]: I always joke that English isn't my first language either, even though it's born here.
23:07.050 --> 23:12.915
[SPEAKER_00]: But you know, for a lot of reasons, but man, this those classes early on, I really should have go back to elementary school.
23:13.315 --> 23:14.616
[SPEAKER_00]: No, I'm just joking aside.
23:14.837 --> 23:16.638
[SPEAKER_00]: I think different personalities, right?
23:16.738 --> 23:20.642
[SPEAKER_00]: I was sharing a little bit about the the extrovert who likes to build relationships.
23:20.622 --> 23:31.216
[SPEAKER_00]: They also tend to be verbal communicators, so their way of communicating is effective to them, but may not be effective to someone who's like, what is it you're trying to say here?
23:31.536 --> 23:32.818
[SPEAKER_00]: Is this a brainstorm session?
23:32.858 --> 23:36.482
[SPEAKER_00]: Is this like a, you know, is this just you verbally sharing?
23:36.703 --> 23:38.085
[SPEAKER_00]: Is this actually direction?
23:38.145 --> 23:42.150
[SPEAKER_00]: It could be very confusing to other people who don't have that communication style.
23:42.550 --> 23:43.492
[SPEAKER_00]: So a few things, right?
23:43.852 --> 23:49.279
[SPEAKER_00]: For those listening that that want to be
23:49.259 --> 23:53.987
[SPEAKER_00]: They need to create outlets to brainstorm and get their ideas out.
23:54.862 --> 24:06.917
[SPEAKER_00]: in certain ways of course because that's how you process things, but then if you're presenting or you're trying to enroll someone in a contractor, a lender, then that's when you really should have some talking points, right?
24:06.937 --> 24:09.721
[SPEAKER_00]: That's not when the brainstorm necessarily happens.
24:10.322 --> 24:17.130
[SPEAKER_00]: So being really clear with yourself where you need a brainstorm and where you need to verbally kind of share is really important.
24:17.491 --> 24:20.154
[SPEAKER_00]: I don't just brainstorm with everyone about everything.
24:20.214 --> 24:21.135
[SPEAKER_00]: That's not what I do.
24:21.155 --> 24:22.557
[SPEAKER_00]: I was not effective.
24:22.537 --> 24:30.794
[SPEAKER_00]: So I think as a clear communicator knowing what you need to be more clear in your communication, begins with you right back to leadership.
24:31.115 --> 24:36.005
[SPEAKER_00]: I think for the introverts or people that need to kind of go away and think about it, they need to do the same thing.
24:36.025 --> 24:40.174
[SPEAKER_00]: What do I need to prepare so I can be very clear in my communication?
24:40.154 --> 24:46.063
[SPEAKER_00]: because they may under-communicate, they may be too quiet, and they're like, shoot, I should say this, I should have said this, I should have said that.
24:46.644 --> 24:54.937
[SPEAKER_00]: So I think that both personalities can either over or under-communicate, but be mindful of what you need, so that you can clearly communicate.
24:55.017 --> 25:00.846
[SPEAKER_00]: As I think that's everyone's ability if we take the time and are actually present and mindful, right?
25:00.826 --> 25:09.038
[SPEAKER_01]: So for adding VesterCon, I'm going to share two sessions that you're going to gain the framework to communicate better.
25:09.378 --> 25:11.541
[SPEAKER_01]: One of them is all about raising private money.
25:12.343 --> 25:18.371
[SPEAKER_01]: I have countless conversations about people not being able to raise private money.
25:18.471 --> 25:19.913
[SPEAKER_01]: And I said, let me see your deck.
25:20.274 --> 25:21.596
[SPEAKER_01]: This is what you're talking about.
25:21.656 --> 25:23.779
[SPEAKER_01]: I'm like, that's what I'm talking about.
25:24.637 --> 25:31.584
[SPEAKER_01]: They don't have a deck that would efficiently present themselves as the experts.
25:32.946 --> 25:39.713
[SPEAKER_01]: Share a clear picture of their experience, the deal itself, and have clear next steps.
25:40.193 --> 25:54.188
[SPEAKER_01]: So we are preparing a workshop that you're going to walk in without a deck and walk out with a deck ready to go before Investor Con starts.
25:54.168 --> 26:15.012
[SPEAKER_01]: This can make the difference between you getting a deal and not getting a deal and it's really the it's called the Lender playbook What that is is what do you need to have in place already so when a deal comes you can get funded super fast There is a playbook and you should be aware of it
26:14.992 --> 26:21.284
[SPEAKER_01]: so you are just adapting in a few things, but majority of you already have it.
26:21.765 --> 26:30.101
[SPEAKER_01]: So you can paint a very clear picture about who you are to the lender and why is this deal a good deal for them to fund it.
26:30.502 --> 26:33.287
[SPEAKER_01]: So love those two sessions for all of you.
26:33.267 --> 26:35.752
[SPEAKER_01]: The first one is with Lauren Bershale.
26:36.453 --> 26:41.883
[SPEAKER_01]: She is a pod mentor of ours and she's going to break down the the DAC for you to raise private money.
26:42.264 --> 26:47.854
[SPEAKER_01]: And the second one about the lender is with Brenda Chen and Melissa Gordon.
26:47.874 --> 26:52.423
[SPEAKER_01]: Okay, so I hope you guys attend those two sessions.
26:52.403 --> 27:00.239
[SPEAKER_01]: Now let's talk about the fourth skill, but you're going to have to go to the next podcast because this is just part one, right?
27:00.620 --> 27:07.273
[SPEAKER_01]: Take a break, go to the bathroom, grab a cup of water, and I will see you on part two.
27:08.924 --> 27:09.987
[SPEAKER_01]: Thank you for listening.
27:10.267 --> 27:13.455
[SPEAKER_01]: I hope you've found today's conversation valuable.
27:13.876 --> 27:17.505
[SPEAKER_01]: And don't forget to subscribe so you don't miss any future episodes.
27:18.107 --> 27:20.833
[SPEAKER_01]: And share this with a women in your life, Benny Sue here.
27:20.873 --> 27:22.798
[SPEAKER_01]: I'll see you next week.
00:00.031 --> 00:10.313
[SPEAKER_00]: The World Economic Forum recently released research that shows 40% of the skills that we rely on today will be changing by 2030.
00:10.353 --> 00:19.373
[SPEAKER_00]: One of the biggest takeaways of this report was that access to information will not dictate the success of real estate investors.
00:19.505 --> 00:29.757
[SPEAKER_01]: Well, we'll make a difference is their capacity to interpreting formation, lead teams, adapt quickly, and make strategic decisions.
00:30.118 --> 00:41.631
[SPEAKER_01]: So we have prepared part one and part two episodes, where we're going to break down the top six skills that you can start developing now.
00:42.212 --> 00:44.955
[SPEAKER_01]: Let's get started with the first three.
00:47.230 --> 00:49.753
[SPEAKER_01]: Welcome to the Real Estate Investor podcast.
00:50.634 --> 00:55.881
[SPEAKER_00]: A top 1% show helping women achieve financial freedom by investing in real estate.
00:55.901 --> 00:59.745
[SPEAKER_01]: And now, your host, Liz Faircloth, and Addressic Adele.
00:59.765 --> 01:07.255
[SPEAKER_01]: So this reports, identifies the growing capabilities across multiple industries.
01:07.775 --> 01:15.685
[SPEAKER_01]: So let's break down the first skill set, analytical thinking and problem solving.
01:15.665 --> 01:22.013
[SPEAKER_01]: many real estate investors have an opportunity to sharpen that skill in a single day every day.
01:22.073 --> 01:22.273
[SPEAKER_01]: Right?
01:22.293 --> 01:23.435
[SPEAKER_01]: We get to do that.
01:23.995 --> 01:26.238
[SPEAKER_01]: So when what exactly does that mean?
01:26.318 --> 01:39.715
[SPEAKER_01]: So the report talks about being able to analyze complex projects to evaluate patterns and really think outside the box.
01:39.695 --> 01:41.597
[SPEAKER_01]: when things are not obvious.
01:42.038 --> 01:49.746
[SPEAKER_01]: So when it comes down to real-state that can be applied when analyzing a new market, a partnership, passive investment deal.
01:50.087 --> 01:51.208
[SPEAKER_01]: The list goes on and on.
01:51.548 --> 01:53.250
[SPEAKER_01]: But let's talk about this Q itself.
01:53.771 --> 02:03.582
[SPEAKER_01]: Liz, do you believe that in order for somebody to develop this Q, they need to be a quote unquote analytical person?
02:04.223 --> 02:07.947
[SPEAKER_00]: I don't because I would be really
02:08.332 --> 02:37.258
[SPEAKER_00]: shit out of luck now for the generated people listening no i i think most people think they have to be this analytical personality to be effective in as an investor you don't necessarily have to be that personality but you need to develop a skill set and and here's what i mean by that right there's some people naturally right based on personality they're just data oriented people and and they're like that in every area of your life right on dressa you're you're analytical
02:37.238 --> 02:39.141
[SPEAKER_00]: in your personal life, in your professional life.
02:39.161 --> 02:39.622
[SPEAKER_00]: It's not like you.
02:39.662 --> 02:40.544
[SPEAKER_01]: I think I medium.
02:41.024 --> 02:43.589
[SPEAKER_01]: Communionals, people that, I'm like medium.
02:43.829 --> 02:46.754
[SPEAKER_00]: You're me, you're probably our medium, and I agree with that.
02:46.774 --> 02:50.741
[SPEAKER_01]: I have some people that agree with you, like to analyze, and I'm like, I'm gagging here.
02:51.081 --> 02:51.843
[SPEAKER_00]: I agree with you.
02:51.943 --> 02:52.584
[SPEAKER_00]: I agree with you.
02:53.005 --> 03:01.018
[SPEAKER_00]: So I do think for me, right, thinking about my own personality, and then my own skill set, on as an entrepreneur, as well as as a real estate investor.
03:00.998 --> 03:07.509
[SPEAKER_00]: I think I come from more of a, you know, people orientation, building relationship personality, right?
03:07.649 --> 03:10.274
[SPEAKER_00]: And not someone who wants to get bogged out in tons of detail.
03:10.935 --> 03:15.663
[SPEAKER_00]: And quite honestly, I'm not the most fact-based person if I shouldn't be on a debate team, probably.
03:15.743 --> 03:18.147
[SPEAKER_00]: I don't know if you want me on your team on it on debating things.
03:18.127 --> 03:21.552
[SPEAKER_00]: I won't use charades with, yes, I'm very good with charades.
03:21.572 --> 03:35.250
[SPEAKER_00]: I know my, I know my, I know my kind of natural tendencies, I say not but but and as an investor, you do need to have it, could have a base minimum on analytics, meaning there's like analytical of like diving into deals, right?
03:35.290 --> 03:39.696
[SPEAKER_00]: I'm just a diving into the analytics of of income and expenses.
03:39.676 --> 03:44.443
[SPEAKER_00]: It doesn't mean you have to be the person that's taking the first stab at all of those analysis.
03:45.024 --> 03:51.333
[SPEAKER_00]: However, you need to have the strategic analysis to be able to say, okay, where are the trends moving?
03:51.754 --> 03:54.318
[SPEAKER_00]: What are the market demands of this community?
03:54.838 --> 04:02.089
[SPEAKER_00]: Does it make sense to do a fix and flip in this community versus a buying hold versus a short-term rental versus a co-living?
04:02.069 --> 04:25.191
[SPEAKER_00]: a luxury build right luxury bills aren't being done in every community why because the demand is not there very simple stuff however that is part of the analytical skill set something that comes up for me is there the community that I'm building a luxury new build there is an appetite there is again strong demand low supply always a good place to be in with real estate
04:25.171 --> 04:28.796
[SPEAKER_00]: Now, strategically, I'm already thinking about a future project.
04:29.016 --> 04:30.559
[SPEAKER_00]: Obviously, you've got to get this project complete.
04:30.579 --> 04:38.650
[SPEAKER_00]: But if I'm having success with the GC in the team, my next thought is, what's the next opportunity if I'm having success with what I'm doing?
04:39.471 --> 04:43.737
[SPEAKER_00]: So it's interesting because it's coming up from Eandres is that I don't know if it's luxury builds.
04:43.717 --> 04:46.201
[SPEAKER_00]: Number one, land of scarce on the river.
04:46.601 --> 04:50.447
[SPEAKER_00]: I'm not going to be able to build like 10 more luxury builds where I'm building right now.
04:50.487 --> 04:54.092
[SPEAKER_00]: It's the only one that's actually there that I can actually do.
04:54.573 --> 04:56.596
[SPEAKER_00]: What comes up for me is like, where are the trends?
04:56.696 --> 04:58.579
[SPEAKER_00]: What's the pain points in this community?
04:59.080 --> 05:00.662
[SPEAKER_00]: And we are in a more...
05:00.642 --> 05:18.111
[SPEAKER_00]: luxury boutique community and people like families coming into the community who want to actually have their kids in the school system they just can't afford to live here but just can't afford to live here it's as simple as that and i do think again depending on land there's a lot of question marks i have i don't have all the answers but if you can create
05:18.091 --> 05:24.019
[SPEAKER_00]: more attainable homes for people who want to live in these kind of communities, you're going to be on the side of solution.
05:24.339 --> 05:26.602
[SPEAKER_00]: Now again, I don't have all the answers on how to do that just yet.
05:27.023 --> 05:28.485
[SPEAKER_00]: However, that is an interest, right?
05:28.505 --> 05:29.947
[SPEAKER_00]: Something I make splore.
05:29.987 --> 05:33.351
[SPEAKER_00]: That's what being analytical in this business looks like.
05:33.391 --> 05:41.382
[SPEAKER_00]: You're already a few steps beyond, right, and just a
05:41.362 --> 05:50.961
[SPEAKER_01]: I want all of you that are listening to considering that all the different challenges that you face in your life, you build a muscle.
05:51.702 --> 05:55.590
[SPEAKER_01]: So I was born and raised in Brazil and
05:56.026 --> 05:58.510
[SPEAKER_01]: I come from the limited resources.
05:59.071 --> 06:02.396
[SPEAKER_01]: Don't get me wrong, I don't come from poverty.
06:02.536 --> 06:06.021
[SPEAKER_01]: And then like you're starving, nothing like that.
06:06.101 --> 06:14.254
[SPEAKER_01]: However, we had to really think about the resources that access in school when different areas to really,
06:14.234 --> 06:16.659
[SPEAKER_01]: do a lot with very little.
06:17.159 --> 06:21.147
[SPEAKER_01]: So that forced us to really be creative and problem-solving.
06:21.528 --> 06:34.572
[SPEAKER_01]: So when I come to the US and I saw the, for my master's degree, the bill was $75,000, and I needed to show that amount of my bank account in advance.
06:35.142 --> 06:38.808
[SPEAKER_01]: And when you do the currency transfer was five times more.
06:38.828 --> 06:40.711
[SPEAKER_01]: So of course, I didn't have that, right?
06:41.091 --> 06:44.356
[SPEAKER_01]: So I needed to think about how I'm going to do that.
06:44.496 --> 06:47.261
[SPEAKER_01]: So I leverage my relationships.
06:47.601 --> 06:57.236
[SPEAKER_01]: And I got a sponsor that put day or, you know, what, in the line in order for me to say, okay, this is how we're going to do it.
06:57.356 --> 06:58.438
[SPEAKER_01]: And I got a scholarship.
06:58.458 --> 07:03.225
[SPEAKER_01]: So they didn't have to pay for anything, but they trust,
07:03.205 --> 07:07.995
[SPEAKER_01]: And it's like my first private money lending situation, type of deal.
07:08.436 --> 07:16.493
[SPEAKER_01]: But for all the women that are listening, I want you to think about all the different things that you went through that are not necessarily related to real estate.
07:17.214 --> 07:19.459
[SPEAKER_01]: You guys solve different things.
07:19.439 --> 07:23.944
[SPEAKER_01]: For all the mothers out there, you're problem solving in a daily basis.
07:24.645 --> 07:28.390
[SPEAKER_01]: So I really want you to do not discard that's hillside.
07:28.890 --> 07:31.053
[SPEAKER_01]: I want you to bring that's kale set.
07:31.073 --> 07:32.334
[SPEAKER_01]: I don't care what that is.
07:32.354 --> 07:38.602
[SPEAKER_01]: It is the muscle that you cannot play and challenge the status quo.
07:38.902 --> 07:43.928
[SPEAKER_01]: That is I think what they are talking during this report and like,
07:43.908 --> 07:46.211
[SPEAKER_01]: how we are going to think differently.
07:46.632 --> 07:52.400
[SPEAKER_01]: Information is not going to be what differentiates successful investors from others.
07:53.001 --> 08:00.371
[SPEAKER_01]: It's their ability to think and collaborate faster in a dapped super, super fast.
08:00.391 --> 08:02.394
[SPEAKER_01]: So that's what we're talking about.
08:02.754 --> 08:06.620
[SPEAKER_01]: Let's go on one thing here, LIS, before we go to skill number two.
08:06.640 --> 08:10.405
[SPEAKER_01]: So analytical thinking and problem solving.
08:10.385 --> 08:14.872
[SPEAKER_01]: Everything that we do during investor con we want to make sure that you are applying those skills.
08:14.892 --> 08:22.325
[SPEAKER_01]: So here's a session at our upcoming investor con where you will be able to apply exactly what we just talked about.
08:22.966 --> 08:29.316
[SPEAKER_01]: So the session called spotting the shift to investing where the market is headed with Tricksie Castro.
08:29.737 --> 08:33.844
[SPEAKER_01]: She's going to share with you a framework that you can follow.
08:33.824 --> 08:35.326
[SPEAKER_01]: all about analytical thinking.
08:35.586 --> 08:41.793
[SPEAKER_01]: How does she separate herself from the market and look at the data in order to make the decisions?
08:42.473 --> 08:46.738
[SPEAKER_01]: The second session that we're going to have, it's one of my favorites.
08:47.098 --> 08:49.080
[SPEAKER_01]: It's a signature of investor Khan.
08:49.401 --> 08:51.783
[SPEAKER_01]: It's called Good Deal Bad Deal.
08:52.064 --> 08:53.725
[SPEAKER_01]: This is a hands-on session.
08:54.066 --> 08:58.110
[SPEAKER_01]: We had Kim Kesaki presenting two deals and we were like analytically
08:58.090 --> 09:02.680
[SPEAKER_01]: thinking, okay, which one would you invest and why were the holes all above?
09:02.701 --> 09:06.950
[SPEAKER_01]: This year, the theme is passive investing.
09:07.431 --> 09:14.327
[SPEAKER_01]: So how you can look at the deal and base on your goals and where
09:14.307 --> 09:19.955
[SPEAKER_01]: going your headed, which pass the investment deal you would invest.
09:20.476 --> 09:25.784
[SPEAKER_01]: So it's really a hands-on exercise and Whitney Huten is leading it.
09:26.365 --> 09:31.172
[SPEAKER_01]: She is going to really break down what questions should you ask when you're evaluating it?
09:31.653 --> 09:33.195
[SPEAKER_01]: What questions should you ask yourself?
09:33.836 --> 09:35.498
[SPEAKER_01]: And what questions should you ask?
09:35.518 --> 09:37.161
[SPEAKER_01]: The person that you're investing with.
09:37.742 --> 09:41.327
[SPEAKER_01]: So you know exactly if you guys are a good fit.
09:42.067 --> 09:44.371
[SPEAKER_01]: All right, the second skill set.
09:45.012 --> 09:48.497
[SPEAKER_01]: I love this one because it applies across any industry.
09:48.617 --> 09:52.243
[SPEAKER_01]: It's leadership and social influence.
09:52.704 --> 09:57.331
[SPEAKER_01]: And the word leadership is, I think it's very broad, right?
09:57.972 --> 10:01.598
[SPEAKER_01]: What does that actually mean to lead?
10:01.618 --> 10:06.926
[SPEAKER_01]: And I think many people believe that, oh, I don't need to develop that until I have a big team.
10:07.527 --> 10:09.610
[SPEAKER_01]: So it's like that corporate.
10:09.590 --> 10:10.151
[SPEAKER_01]: vision.
10:10.772 --> 10:11.933
[SPEAKER_00]: Well, what would you say, Liz?
10:12.514 --> 10:14.657
[SPEAKER_00]: You know, leadership isn't about leading a team.
10:14.717 --> 10:17.041
[SPEAKER_00]: It's about leading yourself, right?
10:17.061 --> 10:18.122
[SPEAKER_00]: It begins with yourself.
10:18.763 --> 10:20.345
[SPEAKER_00]: And what does that look like?
10:20.365 --> 10:21.307
[SPEAKER_00]: There are soil pernoirs.
10:21.327 --> 10:26.274
[SPEAKER_00]: There's a lot of women listening that are leading and they don't have a VA or they don't a virtual assistant.
10:26.294 --> 10:28.156
[SPEAKER_00]: They may not have even a GC.
10:28.176 --> 10:32.222
[SPEAKER_00]: We have some women doing all the work themselves for some of their projects.
10:32.202 --> 10:35.447
[SPEAKER_00]: And ultimately, you are leading yourself.
10:35.948 --> 10:39.995
[SPEAKER_00]: If you are the only person working for you right now, well, that's what you got, right?
10:40.055 --> 10:41.758
[SPEAKER_00]: And then we want you to move beyond that.
10:41.818 --> 10:45.083
[SPEAKER_00]: That's that's a lot of the work we do on just and I do an investor.
10:45.103 --> 10:45.985
[SPEAKER_00]: This is sustainable.
10:46.225 --> 10:47.026
[SPEAKER_00]: And it's not sustainable.
10:47.046 --> 10:48.128
[SPEAKER_01]: No, you can handle honey.
10:48.168 --> 10:48.909
[SPEAKER_01]: We know that.
10:49.230 --> 10:50.031
[SPEAKER_01]: We know that.
10:50.552 --> 10:53.637
[SPEAKER_01]: But, you know, that's not why you're investing in real estate.
10:53.617 --> 11:17.481
[SPEAKER_00]: to get an on their job and then right before we deal with let's go back but in order to in order to build a team you know we work with real estate agents you know team is so broad let's go back it really does begin with yourself and leading yourself means that you are aware of who you are you are aware of what you bring to the table you're even aware of your gaps
11:17.461 --> 11:24.770
[SPEAKER_00]: So every time I'm working on a project, my leadership begins with me assessing not just who I need, but where my gaps are.
11:25.431 --> 11:29.857
[SPEAKER_00]: On the team, in the process, in whatever we're trying to accomplish, so I can mitigate those gaps.
11:30.758 --> 11:33.361
[SPEAKER_00]: That's, I think, a critical leadership skill.
11:33.962 --> 11:38.267
[SPEAKER_00]: And if you think, oh, I could just do it all, or it's not a big deal, or we'll figure it out as we go.
11:38.307 --> 11:40.650
[SPEAKER_00]: You're going to be behind.
11:40.630 --> 11:43.053
[SPEAKER_00]: you're going to be behind because of just that nature of thinking.
11:43.113 --> 11:44.035
[SPEAKER_00]: So begins with yourself.
11:44.676 --> 11:50.284
[SPEAKER_00]: Once you get beyond yourself, it is about bringing other capabilities and capacities to the table.
11:50.644 --> 11:51.505
[SPEAKER_00]: And that's simple, right?
11:51.525 --> 11:54.169
[SPEAKER_00]: I mean, it's simple, but it's not always done, I should say.
11:54.189 --> 11:56.112
[SPEAKER_00]: And I also think it's common sense, right?
11:56.132 --> 11:56.873
[SPEAKER_00]: And dress up.
11:56.893 --> 11:59.837
[SPEAKER_00]: People would often say, yeah, build a team, build a team.
11:59.817 --> 12:07.887
[SPEAKER_00]: I don't think people though really step back and say, okay, who do I need to become in order for me to lead others?
12:08.408 --> 12:13.934
[SPEAKER_00]: And when I say that, the hardest part usually is when people don't report to you, they're not on your payroll.
12:14.295 --> 12:15.837
[SPEAKER_00]: You're influencing them, right?
12:16.097 --> 12:17.278
[SPEAKER_00]: There may be a contractor.
12:17.599 --> 12:18.280
[SPEAKER_00]: They're 1099.
12:19.121 --> 12:22.585
[SPEAKER_00]: Everyone I'm working with on my bill that I was sharing.
12:22.565 --> 12:34.331
[SPEAKER_00]: No one technically works for me, but that is my team right now on this project and how I enroll, how I'm clear with what I want and need all matters, right?
12:34.451 --> 12:35.393
[SPEAKER_00]: Who's leading whom?
12:36.014 --> 12:39.201
[SPEAKER_00]: I expect a designer to be leading me in design.
12:39.522 --> 12:42.649
[SPEAKER_00]: If I'm leading them in design, then one of us is not needed.
12:42.629 --> 12:44.051
[SPEAKER_00]: Now, who's leading the project?
12:44.331 --> 12:44.812
[SPEAKER_00]: That's me.
12:44.952 --> 12:59.253
[SPEAKER_00]: So, as you're exploring, what does leadership mean to you begins with yourself, and it also begins gaps, strengths, and then those A plus players around you, whether their contractors are not part-time, they're not.
12:59.994 --> 13:04.620
[SPEAKER_00]: The value and the quality of the person is the most important part versus like, are they full-time or are they part-time?
13:05.081 --> 13:06.403
[SPEAKER_00]: That's secondary, right?
13:06.423 --> 13:07.685
[SPEAKER_00]: That's what most people think about.
13:08.226 --> 13:11.370
[SPEAKER_00]: So, that's the work I think to be done in terms of leadership.
13:11.452 --> 13:23.607
[SPEAKER_01]: One of the, I would call quote unquote resistance of people leading and team is because they say that, oh, it's gonna take so much time to, you know, tell people what to do and all that.
13:23.627 --> 13:27.471
[SPEAKER_01]: So I wanna make a differentiation between leading and managing.
13:27.491 --> 13:31.276
[SPEAKER_01]: I think a lot of people get confused with that.
13:31.476 --> 13:37.003
[SPEAKER_01]: I was on my call a week ago with somebody, and she said, I have three VAs.
13:36.983 --> 13:41.387
[SPEAKER_01]: And I said, how often do you talk to them?
13:41.587 --> 13:42.368
[SPEAKER_01]: She said every day.
13:42.428 --> 13:46.332
[SPEAKER_01]: On Monday, I tell them exactly what to do during the week.
13:46.352 --> 13:49.135
[SPEAKER_01]: And then on Tuesday, I remind them of what to do.
13:49.735 --> 13:53.779
[SPEAKER_01]: And then I keep telling them what to do and reminding them what to do.
13:53.899 --> 13:57.983
[SPEAKER_01]: And I'm like, wow, that sounds overwhelming.
13:58.163 --> 14:03.729
[SPEAKER_01]: She's like, yes, I am, because I was told that higher of yay, and then they will save you time.
14:03.789 --> 14:06.231
[SPEAKER_01]: And now I am like spending so much time.
14:07.038 --> 14:07.759
[SPEAKER_01]: leading them.
14:07.819 --> 14:08.921
[SPEAKER_01]: I'm like you're not leading them.
14:08.941 --> 14:10.242
[SPEAKER_01]: You're actually managing them.
14:10.743 --> 14:21.798
[SPEAKER_01]: Have a call with them on Monday and they bring to you what it's the priority for the week with KPI's meaning how do we know we are making progress?
14:21.878 --> 14:23.120
[SPEAKER_01]: What is the deadline of it?
14:23.180 --> 14:25.283
[SPEAKER_01]: What we're trying to achieve?
14:25.263 --> 14:30.910
[SPEAKER_01]: And they know if they have a bottleneck, then they raise the issue to you.
14:30.950 --> 14:43.246
[SPEAKER_01]: And that's when you guys brainstorm, but there is not a possibility on earth that I'm going to have multiple meetings throughout the week in order for that to happen.
14:44.227 --> 14:49.674
[SPEAKER_00]: One of the simplest things that I think you and I have used this as a tool in our toolbox for many years.
14:50.074 --> 14:54.780
[SPEAKER_00]: And it seems so simple that I'm actually going to say this on air
14:54.760 --> 15:01.529
[SPEAKER_00]: Being on the offense is more important than being on the defense, meaning you're not reacting to your responding.
15:02.049 --> 15:06.896
[SPEAKER_00]: And one way to really set yourself up for success is literally to have recurring meetings with your team.
15:07.537 --> 15:15.147
[SPEAKER_00]: Members, whether the structure means a group or individually, just that alone saves what time does that save?
15:15.227 --> 15:17.089
[SPEAKER_00]: It saves tremendous amount of time.
15:17.069 --> 15:20.873
[SPEAKER_00]: And then everyone's clear on who's leading the call and what the agenda is for the call.
15:20.893 --> 15:22.675
[SPEAKER_00]: Obviously, that's important and critical.
15:23.075 --> 15:29.101
[SPEAKER_00]: But just having a recurring meeting with a team member is so useful and helpful.
15:29.181 --> 15:30.082
[SPEAKER_00]: But that's not done.
15:30.122 --> 15:34.066
[SPEAKER_00]: Well, I think that we went to a mastermind and dressed tonight this past weekend.
15:34.086 --> 15:37.229
[SPEAKER_00]: And we were talking about forget who we were talking to as we were a masterminding.
15:37.710 --> 15:39.852
[SPEAKER_00]: But we came up for how often do you meet with them?
15:39.972 --> 15:42.975
[SPEAKER_00]: Oh, we don't we just chat a little bit in the morning.
15:42.955 --> 15:44.157
[SPEAKER_00]: Hold on, hold on.
15:44.177 --> 15:51.830
[SPEAKER_00]: We can chat, but if people aren't structured in the sense of, okay, this is when we meet to talk about X, Y, and Z, and this is the expectation.
15:51.850 --> 15:53.012
[SPEAKER_00]: This is with success looks like.
15:53.933 --> 15:57.860
[SPEAKER_00]: You're all just kind of chasing your tail, their tail, and that to me is leadership.
15:57.880 --> 16:04.491
[SPEAKER_00]: That is one of the key parts of leadership is to have recurring meetings with your teams so you can move forward, right?
16:04.471 --> 16:06.993
[SPEAKER_01]: And I'll tell you, I'll be very honest.
16:07.614 --> 16:11.237
[SPEAKER_01]: Leading a team is a skill set that I have to develop, right?
16:11.277 --> 16:14.801
[SPEAKER_01]: Because I have a very little patient with people in general.
16:14.881 --> 16:15.101
[SPEAKER_01]: All right.
16:15.702 --> 16:16.022
[SPEAKER_01]: Yeah.
16:16.923 --> 16:17.924
[SPEAKER_01]: That's it is what it is.
16:18.164 --> 16:19.125
[SPEAKER_01]: I think fast.
16:19.165 --> 16:19.966
[SPEAKER_01]: I move fast.
16:20.486 --> 16:21.527
[SPEAKER_01]: I'm analytical.
16:21.647 --> 16:21.747
[SPEAKER_01]: Yeah.
16:21.767 --> 16:22.848
[SPEAKER_01]: I don't go around.
16:22.909 --> 16:32.858
[SPEAKER_01]: So the way that I had to find the right people to work with me, I had to sharpen my skills
16:32.838 --> 16:48.227
[SPEAKER_01]: And I had to find the right people with this skill that could be also a good match based on their experience and also put guardrails because it will make me nuts if I had to meet somebody every single damn day to remind them of things.
16:48.548 --> 16:52.315
[SPEAKER_01]: If I have to remind people of it, I'm not using tools.
16:52.295 --> 16:56.219
[SPEAKER_01]: I didn't set the expectation right, did you do it?
16:56.239 --> 16:59.643
[SPEAKER_01]: Oh, I thought it was for next week.
16:59.663 --> 17:02.325
[SPEAKER_01]: Oh, so let's put in place somewhere that we know.
17:02.386 --> 17:04.268
[SPEAKER_01]: We both know what the deadline is.
17:04.668 --> 17:06.710
[SPEAKER_01]: Where are we tracking all the above?
17:07.331 --> 17:12.576
[SPEAKER_01]: Otherwise, I think people spend so much time doing the managing of it.
17:12.716 --> 17:20.985
[SPEAKER_01]: Since there are tools, there are guardrails, stand operating procedures that can reduce so much waste of time, and then when they meet,
17:20.965 --> 17:27.895
[SPEAKER_01]: is to solve a problem, to achieve a goal, to brainstorm a bottleneck, that is holding them back.
17:28.015 --> 17:30.719
[SPEAKER_01]: That's when the brains come to play.
17:31.059 --> 17:34.104
[SPEAKER_01]: Not to say, we can't find this link, come on.
17:34.665 --> 17:35.446
[SPEAKER_01]: So let's go it, right?
17:35.646 --> 17:36.708
[SPEAKER_01]: Who has time for that?
17:37.048 --> 17:42.496
[SPEAKER_01]: And I think that that's sometimes the frustrations of a lot of investors that they are managing.
17:42.556 --> 17:45.420
[SPEAKER_01]: And of course, you're damn overwhelmed.
17:45.400 --> 17:45.741
[SPEAKER_00]: Yeah.
17:45.781 --> 17:45.941
[SPEAKER_01]: Right.
17:46.462 --> 17:50.269
[SPEAKER_01]: Which leads to, you know, this, you're talking about partnership.
17:50.349 --> 17:52.734
[SPEAKER_01]: I start with ourselves and then with the team, right?
17:53.595 --> 17:56.380
[SPEAKER_01]: Another layer is when you have a partner.
17:57.102 --> 17:59.206
[SPEAKER_01]: You're running a business with your partner.
17:59.626 --> 18:01.891
[SPEAKER_01]: What do you do when you have two leaders, right?
18:02.492 --> 18:02.892
[SPEAKER_01]: Then what?
18:03.293 --> 18:07.020
[SPEAKER_01]: So when it comes down to leadership, we have a session.
18:07.000 --> 18:13.775
[SPEAKER_01]: I'm very excited that you guys are going to be able to attend at InvestorCon with Castle Azero.
18:14.396 --> 18:23.215
[SPEAKER_01]: Castle Azero has been mine sold their company for $745 million to Salesforce.
18:23.536 --> 18:24.638
[SPEAKER_01]: You heard it right.
18:24.618 --> 18:33.577
[SPEAKER_01]: So they went from bankruptcy to selling it, building and successful businesses together, and also being married.
18:33.818 --> 18:35.802
[SPEAKER_01]: So they're all about partnerships.
18:36.283 --> 18:40.011
[SPEAKER_01]: And she's going to be breaking down what it takes.
18:40.767 --> 18:45.720
[SPEAKER_01]: to lead a team, lead a company, and also lead one another.
18:46.141 --> 18:51.294
[SPEAKER_01]: What are the roles and all the good stuff about having a partnership?
18:51.314 --> 18:52.538
[SPEAKER_01]: How to deal with conflicts?
18:52.878 --> 18:55.806
[SPEAKER_01]: And still focusing on the growth of our business.
18:55.786 --> 18:56.307
[SPEAKER_01]: Was that?
18:56.748 --> 18:57.369
[SPEAKER_01]: Conflict.
18:57.429 --> 18:58.231
[SPEAKER_01]: I don't know about that.
18:58.251 --> 18:59.814
[SPEAKER_01]: What are you talking about, right?
18:59.934 --> 19:04.143
[SPEAKER_01]: So it's crucial that we'd also develop the skill.
19:04.543 --> 19:08.571
[SPEAKER_01]: It's not something that, oh, they have the secret sauce and that cannot duplicate it.
19:08.952 --> 19:15.465
[SPEAKER_01]: Every single session and investor con, we are really like squeezing from each speaker.
19:15.985 --> 19:21.016
[SPEAKER_01]: What is that you learn and how can they be transferable to every single attendee?
19:22.078 --> 19:25.445
[SPEAKER_01]: Liz, skill number three, I think is one of my favorite.
19:25.967 --> 19:28.071
[SPEAKER_01]: It's all about clear communication.
19:28.996 --> 19:39.412
[SPEAKER_01]: And I, throughout the years, and to something that I don't think it's something that I'll ever stop, I probably will be listening to this podcast years from now.
19:39.452 --> 19:42.917
[SPEAKER_01]: Like, what the hell was it trying to say, right?
19:43.398 --> 19:48.526
[SPEAKER_01]: Because that happens when I look at emails that I stand in the past or social media polls.
19:48.546 --> 19:50.309
[SPEAKER_01]: I'm like, what the hell was trying to say there?
19:50.789 --> 19:51.651
[SPEAKER_01]: That's unclear.
19:52.252 --> 19:57.720
[SPEAKER_01]: So I'll tell you story that that happened to his and I,
19:57.700 --> 20:06.791
[SPEAKER_01]: to go through a communication workshop and had this character, he's a character, packed his name, I was leading the group.
20:06.811 --> 20:12.679
[SPEAKER_01]: So several entrepreneurs stood up and shared what did they do.
20:13.159 --> 20:14.621
[SPEAKER_01]: Very simple, short and sweet.
20:15.662 --> 20:20.849
[SPEAKER_01]: And this women stood up and she shared the fallen sentence.
20:20.869 --> 20:22.871
[SPEAKER_01]: And this was years ago, and I still remember it.
20:22.951 --> 20:27.437
[SPEAKER_01]: She said, I help entrepreneurs
20:28.582 --> 20:30.064
[SPEAKER_01]: crazy to lazy.
20:30.745 --> 20:32.868
[SPEAKER_01]: And I'm like, what did I hear that wrong?
20:33.068 --> 20:39.757
[SPEAKER_01]: Did she just say that she helps crazy people, only crazy ones go from crazy to lazy.
20:39.777 --> 20:42.000
[SPEAKER_01]: And how is lazy better than crazy?
20:42.460 --> 20:42.681
[SPEAKER_01]: Right?
20:42.781 --> 20:43.462
[SPEAKER_01]: I had a lot of questions.
20:43.482 --> 20:44.503
[SPEAKER_00]: A lot of questions.
20:44.663 --> 20:45.244
[SPEAKER_01]: A lot of questions.
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[SPEAKER_01]: A lot of questions.
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[SPEAKER_01]: A lot of questions.
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[SPEAKER_01]: And then Pat has this thing that he pretends he was calling his sister.
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[SPEAKER_01]: So, so we could hear what we just said.
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[SPEAKER_01]: He's like,
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[SPEAKER_01]: So he pretending that he's calling his sister say, hey, I have somebody here and she's helping entrepreneurs going from crazy to lazy.
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[SPEAKER_01]: Do you have anybody?
21:05.513 --> 21:09.058
[SPEAKER_01]: And they're like, well, that sounds very weird the women said.
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[SPEAKER_01]: I was like, exactly.
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[SPEAKER_01]: So what does that actually mean?
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[SPEAKER_01]: He asked a lot of questions.
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[SPEAKER_01]: So in a nutshell, this woman was helping entrepreneurs that have chaotic.
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[SPEAKER_01]: businesses for the lack of systems and processing place, putting those things in place, so they can then go to vacation spend time with family at the beach and not doing anything.
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[SPEAKER_01]: I'm like, that's very different to what you just said.
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[SPEAKER_01]: And my point list is that I believe that now
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[SPEAKER_01]: to be clear, but they don't read what chatted to be gave them.
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[SPEAKER_01]: And then they send in, or they post it without really looking at it.
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[SPEAKER_00]: It's too confusing.
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[SPEAKER_01]: Still confusing.
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[SPEAKER_01]: Still confusing.
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[SPEAKER_01]: I don't even know what does that mean.
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[SPEAKER_01]: So one thing that I will recommend all of you that are listening, ask chat to criticize what you wrote, say critique what I wrote.
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[SPEAKER_01]: Point it out any gaps that you see.
22:15.259 --> 22:21.130
[SPEAKER_01]: If you were reading this for the first time, would you be confused and what questions would you ask?
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[SPEAKER_01]: So you're basically playing Davils advocate against yourself in order to become more and more clear.
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[SPEAKER_01]: Right?
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[SPEAKER_01]: And that that's something that I do it all the time.
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[SPEAKER_01]: I'm like, oh, okay.
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[SPEAKER_01]: All right.
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[SPEAKER_01]: Because I linguist is not my first language.
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[SPEAKER_01]: So I might think I'm saying something.
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[SPEAKER_01]: Probably just happening now.
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[SPEAKER_01]: But I have not actually, right?
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[SPEAKER_01]: So it's a constant.
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[SPEAKER_01]: It's a constant evolution.
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[SPEAKER_01]: How how did that show up for you, Liz?
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[SPEAKER_00]: The other thing that pops in my head when I think about really clear communication is the differences of how people actually communicate.
22:59.483 --> 23:01.905
[SPEAKER_00]: So, like you were just saying, or just, right?
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[SPEAKER_00]: And this is not your first language.
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[SPEAKER_00]: I always joke that English isn't my first language either, even though it's born here.
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[SPEAKER_00]: But you know, for a lot of reasons, but man, this those classes early on, I really should have go back to elementary school.
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[SPEAKER_00]: No, I'm just joking aside.
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[SPEAKER_00]: I think different personalities, right?
23:16.738 --> 23:20.642
[SPEAKER_00]: I was sharing a little bit about the the extrovert who likes to build relationships.
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[SPEAKER_00]: They also tend to be verbal communicators, so their way of communicating is effective to them, but may not be effective to someone who's like, what is it you're trying to say here?
23:31.536 --> 23:32.818
[SPEAKER_00]: Is this a brainstorm session?
23:32.858 --> 23:36.482
[SPEAKER_00]: Is this like a, you know, is this just you verbally sharing?
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[SPEAKER_00]: Is this actually direction?
23:38.145 --> 23:42.150
[SPEAKER_00]: It could be very confusing to other people who don't have that communication style.
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[SPEAKER_00]: So a few things, right?
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[SPEAKER_00]: For those listening that that want to be
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[SPEAKER_00]: They need to create outlets to brainstorm and get their ideas out.
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[SPEAKER_00]: in certain ways of course because that's how you process things, but then if you're presenting or you're trying to enroll someone in a contractor, a lender, then that's when you really should have some talking points, right?
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[SPEAKER_00]: That's not when the brainstorm necessarily happens.
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[SPEAKER_00]: So being really clear with yourself where you need a brainstorm and where you need to verbally kind of share is really important.
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[SPEAKER_00]: I don't just brainstorm with everyone about everything.
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[SPEAKER_00]: That's not what I do.
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[SPEAKER_00]: I was not effective.
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[SPEAKER_00]: So I think as a clear communicator knowing what you need to be more clear in your communication, begins with you right back to leadership.
24:31.115 --> 24:36.005
[SPEAKER_00]: I think for the introverts or people that need to kind of go away and think about it, they need to do the same thing.
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[SPEAKER_00]: What do I need to prepare so I can be very clear in my communication?
24:40.154 --> 24:46.063
[SPEAKER_00]: because they may under-communicate, they may be too quiet, and they're like, shoot, I should say this, I should have said this, I should have said that.
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[SPEAKER_00]: So I think that both personalities can either over or under-communicate, but be mindful of what you need, so that you can clearly communicate.
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[SPEAKER_00]: As I think that's everyone's ability if we take the time and are actually present and mindful, right?
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[SPEAKER_01]: So for adding VesterCon, I'm going to share two sessions that you're going to gain the framework to communicate better.
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[SPEAKER_01]: One of them is all about raising private money.
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[SPEAKER_01]: I have countless conversations about people not being able to raise private money.
25:18.471 --> 25:19.913
[SPEAKER_01]: And I said, let me see your deck.
25:20.274 --> 25:21.596
[SPEAKER_01]: This is what you're talking about.
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[SPEAKER_01]: I'm like, that's what I'm talking about.
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[SPEAKER_01]: They don't have a deck that would efficiently present themselves as the experts.
25:32.946 --> 25:39.713
[SPEAKER_01]: Share a clear picture of their experience, the deal itself, and have clear next steps.
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[SPEAKER_01]: So we are preparing a workshop that you're going to walk in without a deck and walk out with a deck ready to go before Investor Con starts.
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[SPEAKER_01]: This can make the difference between you getting a deal and not getting a deal and it's really the it's called the Lender playbook What that is is what do you need to have in place already so when a deal comes you can get funded super fast There is a playbook and you should be aware of it
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[SPEAKER_01]: so you are just adapting in a few things, but majority of you already have it.
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[SPEAKER_01]: So you can paint a very clear picture about who you are to the lender and why is this deal a good deal for them to fund it.
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[SPEAKER_01]: So love those two sessions for all of you.
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[SPEAKER_01]: The first one is with Lauren Bershale.
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[SPEAKER_01]: She is a pod mentor of ours and she's going to break down the the DAC for you to raise private money.
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[SPEAKER_01]: And the second one about the lender is with Brenda Chen and Melissa Gordon.
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[SPEAKER_01]: Okay, so I hope you guys attend those two sessions.
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[SPEAKER_01]: Now let's talk about the fourth skill, but you're going to have to go to the next podcast because this is just part one, right?
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[SPEAKER_01]: Take a break, go to the bathroom, grab a cup of water, and I will see you on part two.
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[SPEAKER_01]: Thank you for listening.
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[SPEAKER_01]: I hope you've found today's conversation valuable.
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[SPEAKER_01]: And don't forget to subscribe so you don't miss any future episodes.
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[SPEAKER_01]: And share this with a women in your life, Benny Sue here.
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[SPEAKER_01]: I'll see you next week.
