2 Wealth Show S2 Ep15 – Real Estate High
On Episode 15, Justin Bogard and Super E interview Vickie Perry.
Key Takeaways:
Resources and links discussed
Sponsored By: Integrated Health Solutions
We are passionate about your health and wellness and we know you want to enjoy a vibrant, pain-free, active lifestyle, but when you are in pain this seems almost impossible.
In order to be pain-free, move fluidly, and enjoy an optimal level of functionality, you need a personalized yet integrated, research based and clinically proven approach and that’s what we do.
To learn more visit us at
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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:
2 Wealth Show S2 Ep15 – Real Estate High
On Episode 15, Justin Bogard and Super E interview Vickie Perry.
Key Takeaways:
Resources and links discussed
Sponsored By: Integrated Health Solutions
We are passionate about your health and wellness and we know you want to enjoy a vibrant, pain-free, active lifestyle, but when you are in pain this seems almost impossible.
In order to be pain-free, move fluidly, and enjoy an optimal level of functionality, you need a personalized yet integrated, research based and clinically proven approach and that’s what we do.
To learn more visit us at
ihsindy.com
cryotherapyindy.com
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:
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 Bogard. 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 will walking them through the process of owning a real estate note. My cohost, a real estate investor specializing in short term rentals a nd the management of them. She connects investors with short term tenants and manages everything in between. Our show was sponsored by B rightPath notes. And Elizabeth Maora. You can find out more information by visiting our websites at brightpathnotes.com and elizabethmaora. com. Hey everybody. This is Justin Bogard from the 2 wealth show and my company is BrightPath notes and here is my cohost Elizabeth Elizabeth look like you're mobile today. I am. Yes. Lots of meetings today. Yeah. Well, isn't that great that we have technology that can bring us together even though you're not at your normal location at your office. I love technology. Absolutely love it and hate it at the same time, right? Yes, exactly. What is it, Beth? This is episode 15 and we got our special guest today. Miss Vickie Perry, the executive director of, um, the group that we're associated with called CIREIA central Indiana real estate investor association. Welcome Vickie. Thank you. It's good to be here. Yeah, this is, this is your second visit on our show. Isn't it? Yeah, it's always exciting. We had you on the first season, episode five, I believe so. Check that out. Those of you listening and following us on the video. Um, Elizabeth, this episode is brought to us by integrated health solutions. We are passionate about your health and wellness, and we know you want to enjoy a vibrant pain-free active lifestyle, but when you are in pain, this seems almost impossible in order to be pain-free move fluidly and enjoy an optimal level of functionality. You need a personalize yet integrated research based and clinically proven approach. And that's what we do to learn more. Visit us at ihsindy.com or cryotherapyindy.com. Staff is fantastic by the way and their services. Yep. I've used them as well. Acupuncture, cryotherapy adjustments there. They're fantastic. You gotta love Charbel and give our shout outs to dr. Charbel. Alright, so a little bit, let's get into episode 15 today. So, uh, Vicky Perry, we mentioned what CIREIA is and how you're a part of it. And can you kind of quickly talk about the idea of CIREIA and kind of what, what it does for real estate investors and why people should be a part of it?
Vickie Perry:Sure love to always talk about real estate and, and real estate investing. Basically CIREIA is a community. We are a community of real estate, flippers, landlords entrepreneurs, housing providers, uh, anyone that's in the real estate field really should belong. Even if you're a real estate agent that primarily works with, um, retail, you need to know what's going on. There's a lot of legislation out there that affects our industry and some of it adversely. So, um, that's what we do. We are a place for people to gather collaborate network and learn, learn about the right way to do the business
Justin Bogard:The right way. Yeah. That's one of your slogans, isn't it? Yep.
Vickie Perry:We had a re um, a radio show for quite a while, and then the guys just got so busy. We had to put it on hold now it's back at as a, as part of a podcast, but it was called, um, let's see, real talk, uh, investing the right way.
Justin Bogard:Awesome. Yeah, I know. I've listened to many of those episodes. They were great. You were on it. So it was Elizabeth, right?
Elizabeth Maora:Vickie can you talk about like, let our listeners and our, of those that watch us as well. Talk about some of the changes that you have made at CIREIA since everything started happening in March. Yeah. Happy to do that. Um, initially it was the middle of March and Elizabeth. I'm sure you remember, we were standing at the CIREIA building going, Oh my gosh, what does this mean? And, um, we're trying to decide, do we stop meetings? Do we put them online? And what we did is immediately, we got them online, everything moved from being in person to being zoom. So all of the rest of March, all of April, may, June. Yep. Um, all the way through June, we stayed primarily on zoom, zoom live and we recorded and you can catch back episodes, uh, of classes and meetings on our website. But, um, in July, no.
Vickie Perry:So let me back up in June, I did a survey with all of our members. Do you want to meet in person? Are you comfortable? You know, the hardest thing that we're all going through right now is what do you believe? What do you believe? What do you know, how do we service both parts of the thoughts? Because half of our members believe that we should get back in person half, actually 60% said they wanted to be back in person. 40% said that they would rather just stay on zoom. So we decided in July to open it up to service both. So our main meeting is now back to in person and zoom live and it's recorded. So even if you're in California or Colorado and our candidate, you know, no matter where you are, just like the wonderful thing. We talked about a moment ago about technology. You can still be part of our community. And, um, it's nice because, you know, 10 years ago, somebody said to me, Vickie, what do you do? And I said, I flip houses. They kind of looked at me and said, what the, what does that mean? Well, unless you're in the industry, you don't really know what that means. So you don't really understand all the challenges that we face. And so having a community of people that you can go and network with and, and complain to, you know, and, and get ideas from, that's just, that's good. Mental health. So one of the biggest changes is that we went online now that brought its own challenges. We lost the networking part, and that's a huge part of CIREIA as you guys know. And so, um, at the beginning of August, that finally clicked, okay, we lost the networking part. So we are back to having zoom, networking groups, and we have an in person networking event every other month. So we're trying to accommodate everyone.
Justin Bogard:Yeah. I think you do a fantastic job of that. Just being a member in a vendor, part of CIREIA, you guys definitely captured every way possible to get the communication out and to get people educated and informed as to what what's going on. So I'm, I'm not sure if CIREIA has been replicated over other RIAs in different cities and different States like that, but I'm sure your local REIA, if you're listening and you're from another state besides Indiana, obviously you can check ours out because you going to be a part of it through online zoom, which is fantastic, but then also your local REIA as well to visit in person. I'm sure they have something similar like that, but that's the idea behind the REIA, right? Is to help grow somebody from having some, being very green into becoming, um, you know, a pretty moderate, real estate investor to an advanced real estate investor as well. Is that true?
Vickie Perry:Yes and no. Yes it is. For all levels. We don't want people to think that if they're already an advanced investor, that they can't come or that there wasn't anything for them. Um, over 50% of our members have been in the business for over five years. Wow. So, um, that tells you that we have some pretty sophisticated investors. And because of that, we have classes on the opportunity zone, cost segregation, um, have a design. It's amazing how many people try to tear down walls in a, in an old house, but they forget to remember that there's drywall that has to go in. So their measurements don't, don't quite match. So even in advance and you guys are both, I knew you can both relate to this. Even the experienced investors make mistakes. And again, a lot of it is supporting the industry, supporting the right way to do the business. The sad part is that the media only talks about that one or 2% of the, the industry that, that are the, the horrible people. Right. You know, I could call them all kinds of names, but I won't. But, um, the media never talks about the other 98% of us who are really doing business the right way. And it's a shame. And so, um, well, and, and that's also part of why Elizabeth and I are so active with Indiana state REIA because we're out there lobbying and trying to do public relations programs to help people understand that without the investing community, where with all these people live. I mean, we really do answer a lot of problems for a lot of, a lot of the communities out there. Thanks for bringing that up about Indiana state REIA. So it's similar
Justin Bogard:Since the CIREIA, but it's more focused on lobbying.
Vickie Perry:Yes. And, um, Elizabeth could expand on this greatly. We actually formed, um, Indiana state two or three years ago. Um, last year we got a bill passed and our focus is lobbying, but it's more than that. It's, it's getting to know the legislators and the people who are responsible for providing housing or not providing, but monitoring and governing housing providers throughout our state. Again, I go back to, um, how valuable our industry is. 73% of all the rentals out there. All of the single family home rentals are owned by people just like us here on this call. And, um, that's, that's over 50,000 houses just in Marion County. My gosh. I mean, what would happen if all of us got so fed up with the legislation and, and possibly not getting paid that we all just said, okay, we're not going to be landlords anymore. Where would all those people live? Right. So, you know, there's, there's, there's two sides to every story and, and that's part of why we are so involved as state, but it's also part of what CIREIA tries to teach. Also, Vickie, you mentioned at the very beginning housing providers. So can you let our audience know that meaning behind that terminology? Sure. So in the old days, um, we have to, we have to all be honest to be a landlord. Um, we all had a stereotype in our brain of what that meant and, um, landlords, the bad rap. Um, but being in our industry is way more than just being a landlord. It is actually providing housing and providing homes, whether you are a landlord or you are doing Airbnb, or you're doing notes, or you're doing flips, we are providing homes. And, um, you're you're to see a huge change in our industry so that people start to recognize the fact that we're not just the old European version of a landlord. That was, that was out there years ago. We really work with our communities. I would say that, um, uh, most of our members and most of the people who I know that are in this business, they do everything they can do to have good, safe, healthy places for their residents to live. It. They're not, they're not what you see in the news. So the housing providers is a term, just expand a little bit more on, on what you're saying too, is something that just with everything that's going on in the world right now, especially here in the U S that real estate investors have a bad name, no matter what branch of real estate you're doing. So we're looking on the marketing aspect, just to say to Vickie's point that we are housing providers, no matter what you're doing in the real estate arm. So you will see that you're going to hear that terminology much more just to make us, um, I don't know what the right word is, but to make us more relevant.
Elizabeth Maora:So to speak more in competency. Yes. Yes. One of the great things, Vickie too, that you mentioned was the fact that you don't have to live in the state of Indiana if you're investing in the state of Indiana, or even if you're looking to invest any place, the fact that say REIA has, and can you touch on all the different subgroups? Um, and the, the coaching and the teaching that the members, um, you know, that the advanced members are providing to new members, or even to members that have been in it for a while. Sure. So, uh, we have two big meetings a month. One is what we call the main meeting. And before COVID, we would have a couple hundred people. There you go, you network, you meet the vendors. And by the way, all of our vendors are vetted. We do background checks.
Vickie Perry:Very few groups can say that they've actually checked out the people selling to their people, but we do. And, um, you then, um, we then have a meeting and a panel or a speaker, and, um, that's called the main meeting. And then we have another big meeting that right now, it is just on zoom. And, um, that is more advanced topics. That's like I said before, um, that could be accounting. That could be, um, taxes, tax professionals, all kinds of more advanced topics. But then we have our set, what we call the subgroups. And we have 11 of those a month. Those are led by local experts and these experts are volunteering their time. Some of them are in person. Some of them are, are just on zoom. And Elizabeth runs one on Airbnb. Um, Justin runs one on notes and these are, um, smaller, more intimate classes where the people who attend can ask, they can get to know the leaders, but they can get to know the people sitting there. You know, I have to be honest, I get a little frustrated when people say to me, I can't find a deal. I just kind of want to smack them because they're, there's no excuse, no excuse for not finding a deal. They're not trying because I turned down more deals than I take. And I can't, you know, people say, well, send them to me. Well, in my position, how would I know who to send them to? So, you know, um, I, I do, um, try to help people to find the resources, but you've got to have the desire. This is not a really easy business. It's, it's a great business. It's a very lucrative business, but it's not easy. Oh, and, and Elizabeth, I'm sorry. You also mentioned the coaching. So we have two seats left in the mentoring class that Dave short is doing. And he is, um, he flips between, I don't know, 35, 40 houses a year. He is doing a class on fix and flip. We have a coaching program that starts in October that will run for three and a half months. And then in September we have a one on one training course, and that's actually done with me and for people who really need somebody to hold their hand through their first couple of deals, they can hire me to walk them through and to do that. Sorry, now, Justin, sorry. I'm sorry. I can't.
Justin Bogard:No, that's okay. No, this is fantastic information. I think, I don't know of any other REIAs that go to, to the level that the CIREIA does as far as making sure that their, their members are very well educated and don't have an excuse not to be successful. I think you brought up a good point about people complaining about not finding deals, whether you're a wholesaler or a bird dog, a fix and flip, or a rental or a note person. Um, I think everybody's looking for the home run Vickie. And to be honest with you, you can't worry about the home run. The home run will come for you. You just need to worry about getting singles and getting, um, and greasing the wheels and just keep moving. Um, not every deal is going to be the best deal. You take the deal in front of you and you price it correctly. It's going to be a successful transaction for you. And yes, you do have to work for it. This stuff isn't easy. It's very lucrative. It's very profitable. It's very different than having a nine to five job and you're in control of your destiny. And so when you take that accountability and you move forward with it, those are the ones that thrive on it. And the ones that, um, I've been complaining are probably sitting here 365 days later going, I haven't done a deal yet.
Vickie Perry:Yeah. Well, and that's actually why I started this new training program. I don't, I can't really call it a coaching program, but, um, maybe I should call it an accountability program because, you know, I hadn't thought about it, but I think maybe I'll change the title because, um, that's what it is. It's like you said, it's, it's a great industry. And, um, even people like me that have been doing it for 30 years, I still make mistakes. I still lose money sometimes, but the good outweighs.
Justin Bogard:Exactly. Yup. Just like in golf, I make that one great shot and it kicks, it brings me back for another 18, even though I had 17 bad holes. Yeah. It's a bug. It's an itch.
Vickie Perry:Oh yeah. Or, um, Dave short likes to say, it's an addiction,
Justin Bogard:It's an addiction. It's like a runner's high, if you will. It's a real estate high.
Vickie Perry:Yeah. Flipping houses for me is like doing crack for some people, I suppose. I just can't quit every time I tell my kids, I'm not going to do. One of the things that I love about CIREIA is not only is just also the fact that you do have something for every type of housing provider and the fact that if you want to do hard money, if you're doing, looking for the opportunities zones, like you have, it's so great in the variety of topics we try. Thank you. Absolutely. And just to let y'all know that, um, uh, we just got off of a national training class for, um, REIA leaders throughout the United States. And there were 82 RIAs on there and only three of us are opened up in person right now. Wow. The rest of them are still all online and they're all itching to get back to person. So maybe, maybe they'll all start part time. But luckily here in Indiana, we can do a combination. That's awesome. Congratulations on that.
Justin Bogard:Absolutely. Thanks. Yeah, you've done a fantastic job, Vickie. We're we're getting close to running out of time here, but I do have one last question I want to ask you and the future of REIAs and the future of CIREIA, specifically, seeing how things have happened with COVID-19 coming through and how you had to adapt and change the way you communicate and educate and get your members on board to too. So they can still thrive. Do you see the future of CIREIA being in this similar hybrid model where you're going to have things online and simultaneously streaming as you're doing live events as well to control the amount of people in a building, or what, what do you think CIREIA is going to look like next year at this time?
Vickie Perry:I think it's going to be very similar. The difference, hopefully by August of next year, it'll be a hundred percent in person plus zoom plus recordings. So, you know, no matter where you are, if you are, um, if you work third shift and you can't get to our meetings, we still want you to be able to access the information. And then, uh, we are expanding the amount of online networking. We did our first online networking event last week and we, I think we had 18 people get on and three of the people afterwards emailed me and just said, they loved it. They came away with new. It was wonderful. So we're going to do that. We're going to start an online, buy, buy, sell trade, so people can do properties. That'll give our vendors an opportunity to get on. And Elizabeth can talk about her cleaning company and, and, um, you know, it it'll be different timing. I'm not going to get up at three in the morning to host any of these live things, but, um, hopefully we'll be able to find enough different time schedules or different times to meet different people's schedules. Awesome. Awesome.
Justin Bogard:I have some closing, closing thoughts for you and I'll have to get your feedback on it. So, number one, I have two, two things. So number one, what would you say to the person that's listening or watching this video today? If they're very green to real estate and they're not sure what to do, what advice would you give them? And number two, that same person, if they were very advanced in real estate, and they're still, um, just, just stuck in the water, you know, five, six years down the road and trying to figure out what's going on. What, what advice would you give that person?
Vickie Perry:So for the, for the new person, um, first get involved with a REIA, um, uh, is not the same as a meetup. I hate to put it that way, but we are professional. We belong to the national associations. We belong to my bore. We, we do the things that you need to do to be successful and to be a professional investor. And you need to start hearing the talk before you walk the walk. So for brand new people, you need to just get in there and hear it and feel it and feel the enthusiasm and the patient for investing and for being a housing provider. So for somebody brand new that's, that's that the second way, the second person, who's more advanced kind of the same thing after you've been doing something for five or six or 10 years, you kind of lose some of the patient. It's become old hat. You don't really, a lot of people don't stay in tune to what are the new trends and, um, give, give back active with your local. REIA come to CIREIA, give back, you know, the, the thing, one of the things that does kind of bother me is that people come to CIREIA, they get good at what they're doing. And after three or four years, they leave CIREIA because they don't need us anymore. But yet they forget that it took experienced people like them helping the newbies when they started. And so they don't continue to give back. So, you know, that's a shame on them and if you are in advanced and um, you want to give back and be grateful, come back to CIREIA.
Justin Bogard:Absolutely. That was, that was a great closing, closing remark on that. Thanks for answering those questions. And thanks for being on our show today. Listen, if you have any closing thoughts for today,
Elizabeth Maora:I just want to say thank you, Vickie for all you do. And for the board at CIREIA I mean, it's been phenomenal, um, for myself, both personally and professionally. And if you're not a member again, whether you're in the state of Indiana here physically, or if you're here, it's a fantastic way to learn. So thank you for all. You've done. Thank you. Thank you guys for asking me.
Justin Bogard:Yeah, you're very welcome. Well, this was episode 15 with, uh, Vickie Perry of the, 2 wealth show. And, uh, Vickie saw Elizabeth and I, as we first got into the real estate business. So look at us now, Vickie.
Vickie Perry:Yeah. You need to have me back until I can tell the listeners the stories behind you, both getting started.
Justin Bogard:Yeah. Yeah. We might have to sensor that one. I don't know. Alright, everybody. This is Justin Bogard from the 2 wealth show
Elizabeth Maora:And Elizabeth Sickles. Thank you so much. Alright guys, we'll see you next time. Bye.
Justin Bogard: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.