Be The Bank

010 - Adapting & Being Creative

June 17, 2020 Justin Bogard & Super E Season 2 Episode 10
Be The Bank
010 - Adapting & Being Creative
Show Notes Transcript

2 Wealth Show S2 Ep10 – Adapting & Being Creative

Justin Bogard and Super E discuss current times in the 10th episode of season 2.

Key Takeaways:  

  1. New Hobbies
  2. Being Prepared in Personal & Real Estate Lives
  3. Opportunity: Decide What You're Going to Do with Your Money

 Resources and links discussed  

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About the Hosts 

Justin Bogard – Note Investor specializing in performing Residential Real Estate Debt. He finds deals and acquires them for his own portfolio as well as educates investors while walking them through the process of owning a Real Estate Note!  

Super E – Real Estate Investor specializing in short-term rentals and the management of them. She connects investors with short-term tenants and manages everything in-between.

Connect with the Hosts: 

  • @2wealthshow – Facebook/Instagram 
  • @wealth_show - Twitter 
Justin Bogard:

Welcome to the, 2 wealth show a show that shares how you can create real wealth for you and your family. I'm one of your hosts, Justin Bogart. And my cohost is Elizabeth Sickles, AKA super E. I am a real estate note investor specializing in performing residential real estate debt. I find the deals acquire them for my own portfolio, as well as educate investors while walking them through the process of owning a real estate note, my cohost super E, a real estate investor specializing in short term rentals in the management of them. She connects investors with short term tenants and manages everything in between. Our show is sponsored by bright path notes and Elizabeth Maora. You can find out more information by visiting our websites at brightpathnotes.com andelizabethmaora.com. Hey everybody. Welcome to the two wealth show. This is episode number 10, I'm Justin Bogart with bright path notes,

Elizabeth Maora:

and I am Elizabeth Maora, Sickles, AKA super E. And today we want to talk to you about being prepared both in real estate and then also in your personal life. So as far as just a lot of tips and tricks that you can use as we're moving through all the things that are going on in the world today. Great.

Justin Bogard:

I'm excited for this. I'm excited to reach episode 10. So, um, Elizabeth, let's just get into it.

Elizabeth Maora:

All right. So one of the things I think is really important, what I've done, which I've not done since I was a kid, but is to make a garden. Oh yeah. Yes. And I actually, my backyard, if you don't have an area that's ideal, it's really nice that today you can do it in your landscaping. And if which is actually what I did, because my backyard is all it's completely shaded. Um, so I've got not only I have a garden in my landscaping, but I also have, I put my herbs in a couple of containers and I'm going to put tomato plants in my containers. Also. I don't know much about that. Do you not have a green thumb or?

Justin Bogard:

Nope. I just checked. I don't have a green thumb.

Elizabeth Maora:

Well, and I think that one of the things that you can do if you live in town or you don't have access to land, or you can't be part of a co op, is that you can also do hydroponics. And what hydroponics is, is it's growing fruits and vegetables in water. So you don't need earth for hydroponics.

Justin Bogard:

Okay. So no soil, no dirt, no nothing.

Elizabeth Maora:

Correct? Yes. And like, we're really lucky in Indianapolis. We have some really high, highly rated hydroponics places. And actually I'm going to go visit them this weekend. If you don't have that, or don't have access to that, you can always go on Amazon or you can go to stores if for whatever reason you take it to that store, a lot of stores are shipping directly now as well. So there's, there's always a way there's always a way to make something happen. So just, just know that. Okay. Yeah. And you can do an investment in hydroponics for as little as$50 and then of course you can get into yeah. So it's, it can be super, you know, inexpensive, um, you know, and especially if things continue on, then you can have something that's growing in the winter time, if you're not in a warmer climate.

Justin Bogard:

So now that I get, that makes sense. So it doesn't matter, you can't get outside, you can't grow things. So you can, you can put those things in up a pot, some sort of pot, and then he put water in it and then the vegetable and stuff grows inside it, just with water. Yes. Just with water. And they do sell special lighting for it also. And the lighting actually starts anywhere from$30. And of course that goes up to thousands of dollars. But again, yeah, the key is, is that it's very inexpensive just to have something on hand. Okay. So what's how, I'm just assuming, you know, a lot more about this than maybe I should be asking questions, but how so the growth rate of the plants and vegetables, is it the same as if it was in a garden in the soil outside?

Elizabeth Maora:

I have exhausted my knowledge on hydroponics at this point. Whoops. Sorry. That's okay. I literally just, well, I've been around it a little bit, but I've not done any research, but that's actually my project for the next couple of days. That way on Saturday, when I go to the store, I can just buy everything and set. That's interesting. Yeah. I'd like to see a set up with other, look that up on the internet after we're done today and see what that looks like, what people like that in a larger scale, I'd be interested in seeing how that looks. I've heard the word before. I didn't really dive into exactly what they're talking about or what does that mean and how has it benefited? Does that make sense? No, I get it now as we're living through this time right now. Yes. And actually this is kind of interesting. There's a company here in Indianapolis that they do shipping containers with, um, positive. And I was there it's with hydroponics. I'm almost sure, but they grow marijuana in these shipping containers. Yeah. And they have this, there's a really incredible setup. Um, and this is all for medical grade marijuana. Of course.

Justin Bogard:

What street corner is this on?

Elizabeth Maora:

Yeah, exactly. But yeah, there's a lot of different uses. Um, I met a guy that does hydroponics on a huge scale. He's just outside of Muncie, um, here in Indiana and he has a very impressive operation and he grows all kinds of stuff and the food tastes delicious. He also has. Yeah. Like you can get really extravagant and like he has fish that are swimming underneath all of his, um, fruits and veggies, so,

Justin Bogard:

Oh, that's cool.

Elizabeth Maora:

Yeah. So this is something to keep, you know, if you have kids at home, it's something that can keep them busy and intrigued for a little while. So you can do your own little science camp at home.

Justin Bogard:

Yeah.

Elizabeth Maora:

So, um, yeah. I just think it's, you know, something that you can definitely do right now.

Justin Bogard:

That's awesome. I'm glad you brought that up. Cause I, that's just a fun conversation off our usual topics, you know?

Elizabeth Maora:

Yes, exactly. Mmm. Yeah. So I think that's important that we make sure that we have, yeah,

Justin Bogard:

it's fine. I think food supply would be important. Yes. Now more than ever, right. Because things are a little bit different. Um, as we're recording this it's for recording it, um, in may. So things are starting to loosen up, I guess, for our state. We live in Indiana and where's a, we're going, a lot of businesses are going through the first phase of this four phases they're supposed to go through as far as how they get back to quote unquote normal. And so what, what have you been seeing, that's just that, that you see differently than you did a month ago? Since now that we're starting to open up things and you know, some States have actually regressed and actually opened up and then step back and some businesses opened up and then they stepped back and closed again. Um, I don't know if you read, uh, there was, uh, I didn't read the whole articles. I don't have all the information, but the headline was basically top golf opened up for like one day I think. And then they re closed quickly. So I didn't get a chance to read that whole article, but I saw that headline. I was like, huh, that's interesting. So maybe I should go back and read that, but I don't know if you caught that.

Elizabeth Maora:

I didn't, but I was by there yesterday and there were people in the base, like I know they're only doing every other Bay right now. Maybe they've made changes and open back up. But

Justin Bogard:

yeah, for those of you that don't know what top golf is, it's, it's a place that's like a SIM not simulated golf. It's golf where you are at a driving range, but you're on, um, different levels you can hit from. And then you're just hitting out there and they've, they have a tracking devices on the ball that shows your distance and stuff, and then you can hit different pins. They have set up throughout the, the range. So that's what top golf is. It's fun for anyone.

Elizabeth Maora:

We did the company Christmas party there. Well, last year, yes. Yes. They loved it that we roll. And actually, um, my real estate brokerage, I just found out this week that we have a platinum membership so that we can take clients. So yeah, if you want to go, let me know,

Justin Bogard:

Hey, I'm game anytime.

Elizabeth Maora:

So, and speaking. So that's a really good point. Well, actually, to answer your question. Yeah. So Friday night, um, I went out to a restaurant and I have to say the only thing that was different, it was pretty packed. Um, the only thing that was different was the fact that the waiters were wearing masks. It was so nice to be. I don't like to cook any, so it was really nice. It's fine.

Justin Bogard:

So you've been struggling for a while.

Elizabeth Maora:

I have the eating a lot of special macaroni and cheese because that's easy and spaghetti. Right.

Justin Bogard:

You can get tired of spaghetti quickly.

Elizabeth Maora:

Yes.

Justin Bogard:

Hmm. Excuse me.

Elizabeth Maora:

What, what about you guys? Have you guys been out your family?

Justin Bogard:

We stopped by Chick-fil-A, I've got Chick-fil-A a couple of times, uh, the carry out and a McDonald's drive through. I think we hit once and, um, we try to order from a restaurant and get carry out. And I think it was on mother's day, which was a big mistake. So they, everybody was so packed with getting delivery orders that we just had an end up canceling our order because it was going to be hours before we would get our food. And I really felt bad for the employees that worked at those restaurants, just because you got a taste for what they had to go through for, I mean, obviously when you go to a restaurant, you can see so many people like, you know, a couple hundred people or whatever, and you have people that serve the food and stuff, take care of it. And then you have the cooks that can handle that, that volume. And then when you have, you know, thousands of people wanting to make orders and you have a lot less people, and you're trying to all funnel in through a couple of cooks, you know, at a restaurant, I can just see how, um, it's just overburdensome for them. So I felt really bad for them. And I was just like, Hey look, you guys, you guys have it worse than I do right now. I can go figure out where to get food somewhere else. So, uh, but that's been my only experience, the restaurant I've heard of other people, um, that have gone out to eat and stuff in different States and, you know, at 50% capacity or whatever, but, um, that's, that's just been my experience. So we've been pretty, I'm pretty good about staying in the house and only going out when we need to, but we're definitely ready to, to get out and do some different things or hopefully take a vacation soon.

Elizabeth Maora:

Excellent. Um, you know, speaking of which, so that really brings up to two points on the real estate, right? So the first point is you've got these restaurants and I was at my parents this weekend. Um, and Sunday we went to a restaurant and, you know, they're only there at the 50% capacity there. Um, you know, they're, they're taking away part of the seating and stuff. So it makes the question like how what's going to happen to our food costs there because the restaurants still have the lead they have to pay and they still have utilities and everything else just as if they were seeding everybody. Right. So I think we're going to see some, probably some major differences in commercial real estate and you know, kind of the flip to that also is that, you know, anytime that there's, there's the negative, it's not really negative, it's just a reality in it, but there's also the opportunity in it. Right. So is there just going to be more delivery? Um, I didn't read the article, but I know in Indianapolis they're going to be shutting down some of the streets so that they can, um, they're gonna be shutting down the street to vehicle traffic so that they can do more outdoor seating. So, you know, just like things like that, like there's always an opportunity and kind of, you know, where we can put our thinking caps on it, you know, and even like things outside of real estate, like how can you capitalize on that? Cause there's always a way there's always a silver lining.

Justin Bogard:

Yeah. You're exactly right. People have to adapt and they have to just be creative about their situation and they can, they can still thrive through this, this part of it just don't don't give up, you know, I know I obviously it's, it's tough and it's very challenging, but you're exactly right. There's always a way to make it work for everybody. Um, I would say outdoor seating, isn't that fun once raining, but if it's covered outdoor seating, you can still make it work.

Elizabeth Maora:

That's right. So, and whenever you look at those kinds of companies, you're looking at awning companies, which is either canvas or plastics at wood, right. So that's, that's your lumber industry. So it's going to be hitting all the different industries as well.

Justin Bogard:

Absolutely. What should open up more jobs to, so hopefully there's a little bit of an offset between the unemployment where it's at as of today, whatever that number is. And then other companies that just need, need the help. So hopefully that'll offset some of those numbers and get, give people with jobs.

Elizabeth Maora:

Yeah, for sure. And you mentioned taking a vacation, so in June, so when this episode airs, um, I've taken two vacations and we're going to one with my family and then one with a friend. Um, so we're either going to now, this is really interesting in the state of Florida. Um, last week there was a, a huge, um, a lawsuit filed against the governor because he had shut down short term rentals, but was allowing for hotels to take guests, which makes no sense at all. Um, so now they've opened up some of the counties on, um, along the peninsula. So our, excuse me, in the panhandle. So Pensacola destined those places, um, because we were going to go to Alabama because we knew for sure we could get a vacation rental house, but now that we can, yeah. Now that, um, Florida is opening up, then we might go there. Cause we're, I'm doing that in two weeks. So yes. Down there. No, no, we're fine.

Justin Bogard:

That'd be interesting. I'd like to hear your feedback on the airline experience

Elizabeth Maora:

when you go down there. Well, Caitlin that works with me, she just went to Fort Myers two weekends ago. She flew down and she said it was packed. Oh wow. Both coming and going. So do you know, she didn't say so. I'm going to assume not.

Justin Bogard:

Yeah, that's interesting. So I guess, uh, I haven't been keeping up on that stuff to see what it's like. I just been hold up in the house here, my blanket over my head. Is it over yet? Yes. Yes. Well, at least you're shaving and you know, you don't have to, that's a good thing. Yeah. I don't look like the guys on duck dynasty where they had the big long beards.

Speaker 3:

Yeah.

Justin Bogard:

Yeah. I've seen some people on Facebook, I'm friends with and they decided not to shave until they get it. You know, everything gets back to quote unquote normal and they just have these very large, uh, grizzly gotta love it. Right. Yep.

Elizabeth Maora:

Absolutely.

Justin Bogard:

Absolutely. All right. So what else do you want to talk about today before we wrap up our episode?

Elizabeth Maora:

I think just as also important to know what's going on on the economy side. So there's a lot of money being printed right now, lots and lots of money, which devalues the dollar. So there's kind of, you know, there's this, thanks for like a water, better word. There's a scene going on. If, you know, do you want to get all your money invested now before, while it's still has value to it? Or are you going to wait until prices fall if they fall? Right. So I just, I really think that people, you don't need to do your own research and decide for yourself if you do want to wait. Um, for me, I'm actually, so I have a, I have a nonprofit also and I'm actually selling one of my lots and just so happens. My neighbor wants to buy it. I hadn't planned on it at all. Um, but it's going to work out really well. Um, and I'm, I'm looking for stuff to buy right now actually, because I, I do want to invest now and I think there's some good deals out there. Um, some really good deals. So are you seeing any better deals on the side?

Justin Bogard:

So on the I'll call it the hard real estate side, the actual property side. I don't see too many of those because I'm not in those channels as much as I used to be now that I'm in the note business, but I'm definitely seeing a note opportunities. I'm definitely seeing more people starting to invest like, like they would in February or January. Um, which tells me that the confidence level is, is back and people are starting to, to get back into what, what normal investing is like. So I've, I've been kind of excited. Um, obviously we talked about several times about seller financing being so, so big and opportunity, and we're, we're seeing more of those opportunities every, every week for people asking for help on how to create seller financing deals and how to just structure a deal to where they can get into it and they can get out of it. And both can be like on terms where they buy something on terms with seller financing and then they resell it with seller financing. So there's a lot of creative things or you can do, and we just love helping people out, walking through that.

Elizabeth Maora:

Awesome. And just to, just to give a quick update on the vacation rental side for us, we are totally, so we have kind of a, we have a mix. We have people that are local that just need to change, uh, four walls for awhile for it, you know, for a long weekend. Um, maybe they've had a little too much family, friends together, you know, togetherness time. Um, we have that. And then we also, we have people that are traveling in for, for various reasons as well. Um, and then we've also a couple of our properties. We have some guests that are staying with us for a couple of months at a time. So like this last weekend, we only had two properties that we didn't have guests in and the one property, um, or our clients have were staying in a unit. So really we only had one property open.

Justin Bogard:

Wow. It's pretty good compared to what it was, what it was in March. So amazing what a couple of months have done to the business. But I mean, you had to see that when, when nobody was well able to do the short term rentals or just get out of the house, you know, that was, people are going to get bound up pretty quick. You know, our culture is to run, run, go, go, go fast, fast, fast. And then when we slow down and we're kind of isolated, I think it really, it starts to build up, you know, inside with people wanting to get out and do stuff. So I mean, everyone included, I mean, even myself, you know, as much as I like staying at home, I still want to get out and do things. So, um, I'm, I'm hoping the vacation rental business thrive, uh, for awhile.

Elizabeth Maora:

Thank you. Yes, me too. For a very long time.

Justin Bogard:

It helps all the economies, all the micro economies that we have, you know, all the small businesses, because you're going to stay local and shop local. Right.

Elizabeth Maora:

That's right. Our cleaners, when we have maintenance, HVAC, plumbing, electrical, it's everything or utilities. So yeah, it makes a huge difference. Absolutely.

Justin Bogard:

Absolutely. Elizabeth. Did we hit all the highlights that you wanted to hit today?

Elizabeth Maora:

We so make sure you've got a food supply and make sure that, that you decide what you're going to do with your money. If you're going to invest. Now, if you're going to wait for a little bit, um, whatever works works for you and for your situation.

Justin Bogard:

Yeah. I don't think there's a wrong answer. I don't, I think there's definitely opportunities right now and there's definitely it's uh, you can wait a little bit longer too, all in all it is up to you. So Elizabeth, that's awesome. That's all the time we got for today. So I'm Justin Bogard with BrightPath notes

Elizabeth Maora:

and I am super E Elizabeth with Elizabeth Maora.

Justin Bogard:

All right. Don't forget to check out the video cast of this episode on our YouTube channels, bright path notes or Elizabeth Maora. See you guys 2 wealth show is produced by Justin Bogard and super E sponsored by BrightPath notes and Elizabeth Maora. Thanks for listening and watching for our show.