2 Wealth Show S2 Ep24 - Season 2 Wrap Up
On episode 24, Justin Bogard and Super E discuss end of year/season wrap up.
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:
2 Wealth Show S2 Ep24 - Season 2 Wrap Up
On episode 24, Justin Bogard and Super E discuss end of year/season wrap up.
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, 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 co-host 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 co-host super E, a 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. Our show was sponsored by bright path notes and Elizabeth Maora. You can find out more information by visiting our websites at brightpathnotes.com and elizabethmaora.com.
Elizabeth Maora:Hey everybody. Welcome to episode number 24 of the 2 wealth show. I am Elizabeth with Elizabeth Maora and my cohost, everybody. This is Justin Bogard
Justin Bogard:And my company is bright path notes, and it is such an honor to wrap up our season two. Today. It is. So Elizabeth just wanted to recap with you and for our audience. Um, we have had just about 800 downloads on our podcast form of this season too, which is awesome. We love it. Thank you everybody. And we've had a couple of hundred views on our YouTube channels between both of us. So we very much, um, enjoy you guys checking us out on video or on the audio as well. So can't say how much more we appreciate you guys. So thank you. Thank you. Thank you. And thank you again. Yes.
Elizabeth Maora:Thank you very much.
Justin Bogard:So how are you, Elizabeth?
Elizabeth Maora:I'm good. Just wrapping everything up. So I'm gonna take quite a bit of time off at the end of the year. So I'm excited about that.
Justin Bogard:Okay. You're going to take time away from the business or just kind of take time away from the day-to-day stuff
Elizabeth Maora:Away from the business.
Justin Bogard:You're going to step away.
Elizabeth Maora:Yes. Uh, brain's already a little fried, so
Justin Bogard:I bet you've had a lot of things going on this year. So you've, you've been shaking and moving all around.
Elizabeth Maora:What about you? What are you gearing up for at the end of the year?
Justin Bogard:I am gearing up to get heavier in marketing. I would really like to get back to focusing more on my marketing strategies and I, I, I felt like I lost some traction in the last four or five months with my marketing strategies. So I definitely want to focus more on that and get some more, um, get a game plan and, and make sure the right people are giving me the right information as to what to do moving forward. And so I feel really good about where the business is at right now and super excited for 2021 and yeah, just really going to hammer down on marketing and it's really focused on that going into the new year.
Elizabeth Maora:Excellent. You know, it's funny you say that. Um, we're actually, so I think most of you guys know I have a business coach who she is phenomenal and, um, she actually recommended today that we go ahead and do a third party marketing firms to start taking care of our marketing. So I I'm excited about that. That seems like a woo you know, that's a next level thing. So, um, we're hoping to have a call, even though we are hoping to have a call before the end of the year, just to get things, you know, roll and make sure it's going to be a good set. But, um, so marketing is extremely, extremely important. So I don't blame you.
Justin Bogard:Yeah. You know, I, I kind of compare it to like working out or your goal for the new year's resolution would be to like lose weight is what a common new year's resolution is. Right. And so what it seems like, and I know I've fell into this trap before of you, you go get your gym membership, you go to the gym, you're excited. You're, you're eager to get things going in January. You feel great in February. And then, you know, kind of the wheels kind of fall off somewhere between February or maybe even earlier, maybe in March and then you don't go, or do you go back after a few weeks of not going? You realize, man, this is a lot more challenging than, than when it was when I was, when I was going out at full steam. Right. Well, I think of marketing as the same way I noticed, you know, when the social media isn't consistent and frequent and the email marketing is a consistent frequent and your messaging and all the stuff that you do for your marketing, if it isn't consistent and frequent, you really lose momentum. And momentum is so valuable when it comes to marketing that I realized this year, that if you don't make that your forefront of your sales, um, I guess your sales almost say pitch, but your sales, uh, let me try and say Elizabeth, um, sales strategy that you, you don't want to lose that momentum because it's really hard to get it back. Right. And so then again, that's, that's kinda what I compare it to.
Elizabeth Maora:Excellent comparison.
Justin Bogard:Awesome. So new year's resolutions anything this year?
Elizabeth Maora:Oh yeah. We've got a lot. Um, so I'd actually, I do have an offsite with the team. Um, that's going to be tomorrow, so I'm very excited about that. It's so funny. Cause my executive director asked me this morning, she's like, well, do you have an agenda for us? I said, no, we're just, we're going to play. That's it. So we're supposed to be doing a strategy session. Like that's what the team thinks we're doing. Well, we are, but just in a very different way. Um, but I have to recommend a book traction by Gino Wickman. Um, I was having a conversation with a friend of mine who he is going to be on our podcast. He's phenomenal. Um, some other people have told me about this book, but it's really fantastic because it's all about getting your processes in play. And as your business, even if you're small, as your business grows and when you want to go on vacation and you want to maybe do a little bit of something else, you need to have those processes set up. So somebody else is already doing that or you can hand it off to somebody. Um, the book is, it's a hard read. Like you can see, I'm not, I'm not very far right now. Um, there's a whole, I have another friend who actually, he literally saved my business. Um, last year he's a coach with traction. Andy is phenomenal. He's out of Florida. Um, so I just want to recommend this book to all of our listeners, even if you're in corporate, just thinking about having your own business. It's a great, great book.
Justin Bogard:Awesome. Thanks for sharing that. I've heard of that book before. I haven't read it, but I've definitely heard of it. And I'm glad you brought that to the attention of myself and our viewers and listeners. So thank you very much for that.
Elizabeth Maora:And I'll tell you this, actually one of my clients and good friend, Liz, Michael, um, she's fantastic. She told me I should read this three years ago. Cause I had just moved here and I bought it, but it was so heavy and transcended entrenched into processes. And I had just left corporate and I'm like, I'm not, I'm having
Justin Bogard:Overkill.
Elizabeth Maora:Yes. But now I understand it. And yes, processes are very good. It will make your life easier.
Justin Bogard:So you mentioned something about your team doing some sort of offsite thing together. Is there like a trust fall that's going to be involved with this? Cause that's what I'm thinking about for Ian's team is doing a trust fall.
Elizabeth Maora:Well, I can tell you there, so I love good food. So there's going to be very good food. Um, we're going to Michael Cunningham restaurants. So he's a local restaurant here for those that are familiar with Indianapolis. Um, so that is part of it. Um, and the rest is actually I have to text the team later to tell them where to meet me and what time and we're going from there. Oh,
Justin Bogard:Is it all shocker? You know, you should just pull up like a black van and just open the sliding door, have meet you on some corner and just get everybody in the van. Just take off a squeal squeal of tires and go just like in an old school. I think it, that maybe I'm thinking,
Elizabeth Maora:And I guess your audience, like not me at all, nor really everything is, I'm a planner.
Justin Bogard:I can attest to that. I can attest that this is a shocker for me to listen that this is honestly,
Elizabeth Maora:So yeah. So it's going to be, it's going to be interesting. And I would encourage you to do that. You know, just anybody, any of our listeners is. Um, or if you know, you're having a hard time kind of getting out of your head and putting, putting your thoughts down and what you want to do, just go have fun, go take a day off, you know, just unwind for a little bit.
Justin Bogard:Absolutely. You got to unplug, I believe is the word that I hear often unplug got to put down your, your devices and just step away from it all and, and just soak in what, uh, why we're here, right? While we're making let's get deep today. Why are we made right Anyways, I mentioned earlier that this is the end of season two. So what, what our goal is to every year we want to, we'll complete a season of our podcast and our video cast here. And we will be come back for a season three, just so no, nobody is disappointed and we will be back. We just want to kind of capture everything annually as a season. So we've fortunate enough to get 24 episodes in plus a bonus episodes. We had 25 episodes in this year and moving forward into season three, we got a new, uh, well, we're going to upgrade ourselves just a little bit in season three, we're going to have a little bit more technology on our side, on our side to be a little more friendly. So Elizabeth, we can do and live episode if we want to in the future. So maybe we should plan on that at some point on season three is just to air, air live episode. I don't know. Are you up for it? Absolutely. Let's do it. No retakes, no bloopers. Is this going to be straight, straight content right to you?
Elizabeth Maora:I like it.
Justin Bogard:All right. So like you asked me earlier about the stuff for marketing was, is going to be our main objective. Uh, at least the entry point of the new year. Things will slow down a little bit for us. Um, probably starting right before, right before. Um, we'll actually right now as we're recording this a rectory coordinates before Christmas, but, uh, so things will start to slow down when, when this is being released, uh, in a couple of weeks. So we'll have time to kind of reflect on the business. Um, I don't know if I will get a chance to step away fully from the business, but I definitely plan on doing that pretty soon anyways, because you're exactly right. If you don't think about that step away, it's, it's tough to recharge your batteries when you don't fully step away from the business. Right?
Elizabeth Maora:Absolutely. I think just all my years in corporate, like, I mean, a lot of times I was in automotive or as in manufacturing is we always shut down the end of the year. So like, I'm just kind of used to that,
Justin Bogard:Like your, uh, your internal clock, so to speak. You're just used to saying it, I think in general, like I remember back in school, you know, elementary school and stuff, everything would shut down. I started being a little easier at the end of the end of the semester, like the last couple of days. And you just feel like, okay, everyone's just on Island time. Right. Just do it, do whatever we need to do and take our time all the way through the holidays.
Elizabeth Maora:Exactly. Kind of what's cool too, is we are furnishing, we have a new property in Fisher, so that's our second Fisher's property. Yeah. Um, we actually get possession December 31st. So we went, uh, for inter shopping yesterday. We got some really good stuff. Um, but I mean, we're gonna work, we're hitting the new year. Boom, boom, boom. So I want everything bought and then delivered, um, you know, January 4th actually, is that Monday? I believe so. I mean we're yeah. So the, you know, the team has definitely earned some downtime. They need some downtime and then, I mean, we're starting off with a bang, so to speak.
Justin Bogard:That's great. That's great. And hopefully those either listening or that are entrepreneurs or own businesses are thinking of the same strategies going forward too. It's a, it is the end of the year, but it's also the beginning of the next year. Right. So it's just kind of fun for me. It's fun. It sounds like it's fun for you too. And you can tell that you're an entrepreneur, uh, Elizabeth, you're very, very eager and you always have a lot of energy to, to move on to the next thing. The next thing I think it's what drives us to continue to do this is what's the next thing. What's the next thing, you know, and how can you, can you be better at it and grow and, and, you know, eventually get more team members because you're, you've, I think you've added about half your team members came from this year. Am I mistaken? Or is that true?
Elizabeth Maora:Yes. Yes. Uh, for the, for the cleaning side, I've added a, well, you know, I started that in July, so I have, I think there's seven or eight on the cleaning side. So, so some of my team, they only like my one guy, Nick, he only works on Sunday, so everybody has, you know, kind of a different, a different thing, but that's when that's when Nick can be with us. So we take him for that Sunday. Uh, but yes, it's a lot, lots of team members added this year.
Justin Bogard:Fantastic things are growing. Things are moving. Um, I want to touch on quickly just about, I know at the beginning of year, we all had really good successes with, uh, just the economy and the market and in real estate. And I know March came around the corner and we all know what happened. And at the beginning of March, uh, when COVID started and kind of trickled throughout the year and it's still kind of going on, what, what kind of amazes me, just looking back, not as necessarily as a business or real estate or any sort of marketing or market investment, um, is to seeing how the numbers were and how much we didn't know about what was going on with this virus versus how much we know today versus how much the numbers are. Lizbeth is quite interesting. So we notice we go from very few being affected by this with having, you know, massive shutdowns and discovering how we can maintain and control this and how we're receiving it and how we're getting it from other people. And then seeing the numbers. I don't even know how, how big times wise they were from March all the way to. Now I know looking at the numbers now, if you saw the curve from back in March versus the curve from today, you're just thinking like, why is anybody stepping outside? You know, but when we learn more about what's going on, we're not as afraid. And I guess, and so I, I really haven't seen too much of an effect locally and even regionally and in, uh, with the market, as it pertains to the real estate note business, and even the real estate business, Elizabeth, I'm looking back, I'm just kind of shocked and thinking like, wow, this is, this was a big deal, but it really didn't change a lot for, I think the economy in general, um, you know, as a whole, right, we'll talk about the real estate economy. Let's not put the standard economy into this. Let's talk about the real estate economy. Did you see the same thing or did you see something different?
Elizabeth Maora:No, definitely real estate is so strong. You know, I think part of that is because the interest rates are so low and we have so many people that they want to get out of the inner cities now. Right. And moving to the suburbs, you know, that's, that's a big trend now. Um, and then, excuse me, just the fact that people are spending so much in their existing home during remodels, because everybody's home so much more now
Justin Bogard:Guilty, we'd done the same thing and the same thing, you brought up a real good point. And I wanted to kind of touch on this a little bit more was people were moving out of the bigger cities. Okay. I've heard of that. And other major cities across the U S most likely California's ones I hear about the most. Um, but even in our, our major city, Indianapolis is in Indiana where we're both from here. And I noticed that there's more movement to what I call village towns. I don't know if you've noticed that in your, in your dealings, you know, every day, but I've noticed more of these small village towns. Like I live in a town called lapel, Indiana, which is a small town it's maybe two or 3000 people in total that are in the town limits. And, um, I noticed a lot of real estate was really happening, uh, in, in our small town. Like we had, we lived in a house, we moved down the street and we sold our house within a day and just like with multiple offers. And it's like, man, we live in a small town and we still get multiple offers. Um, it's just kinda cool. So I think that, um, when you're investing in real estate, even investing in a smaller, the village towns, it's still, you still don't have to be that worried about it. Cause I know most people think of smaller towns and thinking, well, how am I going to turn this property over? I can't rent it. I can't do this. I can't do that. Who's going to live in this small town. Well, it seems like because of COVID people are just kind of dispersing and kiss kind of spreading out across areas that otherwise they wouldn't, they wouldn't normally to go to because we're not that far from, from things that are popular, like the town of Noblesville and fishers, you mentioned, you know, we're within 15 minutes of those places. So,
Elizabeth Maora:And just as an eye witness. So I have a good friend in New York. Um, so I'm usually there every other month and I will tell you even some there on the weekends, even on the weekends, people are moving out. So we're in and in Brooklyn, that's where I am the whole time. So that is absolutely true. I see it Friday, Saturday, Sunday, Mondays. Cause I normally stay that long. Um, but yeah, and just, you know, also kind of to the point, like you might be thinking, Oh my gosh, I have commercial real estate and the businesses, you know, I see so many people are working from home, but okay, so we're going to have empty commercial real estate. So what can we do to make money with that? Right. Cause there's always opportunity. So what is going to be the next thing? Um, so just always thinking about that, cause there's something out there there's something that people will spend go to a commercial property to do.
Justin Bogard:What's, let's be fortune tellers for a second, super E. So what, what is the next trend? And you bring up a great point about commercial properties that, you know, uh, that I'm starting to see more and more of those opportunities, at least for sale. And think we all see that some of these commercial buildings or these commercial strips are becoming less popular for, let's just call them retail businesses like storefront retail businesses. And they're becoming more popular for more like, I dunno, like shared workspaces or just like office space. And so if I was a fortune teller and I had these skills, it kind of shows me that maybe 20, 21 would be a good opportunity to invest in some commercial real estate and be at the forefront of that because I can see these empty buildings becoming more popular once this, this COVID thing kind of settles down and becomes, you know, a little more under control and I can see more shared workspaces type of buildings, um, for people just to get out of their homes and, and be, you know, in, in, in someplace else. So I, I don't know. Do you do align with that or do you, or do you see a different path?
Elizabeth Maora:No, I do. What I think is going to be really interesting and what I haven't figured out is what's going to go on with the restaurant industry, man, God bless them. I mean, I, my heart just really feels for them. Um, but there's gotta be something like I don't cook. Um, I can cook. So, um, so I always want there to be restaurants. Um, so that's kind of a question that I have. Okay. What's going to be the next thing with the, how do you capitalize on that from a commercial aspect? I know there's a lady that's actually, she's going to start cooking for me. Um, her business has exploded because she does meals, right. For people it's kind of like a, like a blue apron or a hell of fresh, but the meals are Nate. Um, and she has done phenomenal this year. So I do, I think we're gonna see more of that, which that's, that's a specialized commercial kitchen. Right. So, um, yeah, so I'm really interested to see overall how people continue to adapt to that, but there's always opportunity.
Justin Bogard:Absolutely. I mean, I can see restaurants having less, um, dine in space and bigger kitchen space so they can take an accommodate the, uh, the external need for will fold. I mean, myself included as well. I mean, I'd love restaurant takeout. It's, it's tough to justify bringing a, you know, your family and four kids to a dine-in restaurant with the risk that's going on versus being able to get, take out and eat it in your own home. And yeah, the ambience isn't the same, but still you get, you get the food that you want and you get that experience. So I, I can definitely see some, some tweaks for some of these restaurants because man, my God, some of these restaurants still are thriving, but they're thriving in ways that are not dying in, you know, um, customers,
Elizabeth Maora:Which actually should be, I mean, I don't own a restaurant, so I don't want to step on anybody's, you know, any of our listeners, if you own a restaurant, but I would think that your costs would go down if you're doing more carry out, because you don't have the employees, you don't have the, you know, the, the seating, you don't have to replenish the silverware, you know, cause people steal it and it, you know, what happened,
Justin Bogard:Silverware, what kind of society do we live in my goodness.
Elizabeth Maora:Exactly. Um, so again, I don't want to, you know, take that from anybody at all, but I would, yes. So yesterday I did take out, there's a place called King's barbecue off Keystone. The line is always a million cars long. So finally, like I'm going to try this and they're only take out it's in that old carwash. Yeah. So you drive through the car and I was like, man, like she has so little costs, right? There's no, there's no. Um, so I'm sure she has a lot of costs, but you guys I'm saying
Justin Bogard:I get what you're saying, but there's, there's, there's good and bad with everything. Right. And it's just, I think the story is, and we'll kind of close out episode 24 and season two here. And my kind of closing thoughts are you just gotta be adaptable. We all had to figure out how to make our lives work around this, this COVID that's been going on. We've all had to figure out how to adapt to it and get around it. And it's just one of those things that hasn't been fun for everybody, or probably nobody has been fun for. Um, but you just got to figure it out, right? You got to just keep moving forward. And these little pushbacks have made everyone realize and rethink what they do. And it's kind of almost a reset with either your personal life and with your business on how to figure out what to do and to be cautious and to move forward or else because you don't want to, nobody wants to fail, but everyone has failed a little bit this year, I think over trial and error and figuring your way around it. So I just say, just keep moving forward and keep figuring ways, um, to better yourself, better your business and the better your real estate portfolio.
Elizabeth Maora:That's right. Increase your assets Merry Christmas, everybody. Thank you so much for, for listening to us. And we so appreciate you being loyal to our show. Thank you.
Justin Bogard:Absolutely happy holidays. Happy new year and peace, joy and wealth to all. This is episode number 24, the end of season two. We'll see you next time on season three, I'm Justin Bogard with BrightPath notes
Elizabeth Maora:And I'm Elizabeth with Elizabeth Maora.
Justin Bogard: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.