2 Wealth Show S3 Ep16 – Staying Humble and Knowing Your Numbers
Super E and Justin talk with Susan Yoder of American Pride Realty in Oklahoma. They discuss her ups and downs of the real estate business and the importance of staying humble and knowing your numbers.
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.
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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 S3 Ep16 – Staying Humble and Knowing Your Numbers
Super E and Justin talk with Susan Yoder of American Pride Realty in Oklahoma. They discuss her ups and downs of the real estate business and the importance of staying humble and knowing your numbers.
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 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 co-host is Elizabeth Sickles, AKA super a 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 honing a real estate note. My co-host super eat 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 May aura. You can find out more information by visiting our websites@brightpathnotesdotcomandelizabethmayaura.com.
Speaker 2:Welcome to season three, episode number 16, my dear close personal friend, miss Elizabeth Sickles, AKA super E how are you today? I'm
Speaker 3:Doing fantastic. How are you
Speaker 2:Doing pretty good. It's a warm outside. The sun is out, so I can't complain too much if I could. Who's going to listen to him. That's right.
Speaker 3:And we have a really awesome show that we're so happy to share with you today. Um, she is a friend of mine and so, um, do we want to go ahead and bring her on? And I will give an intro, uh, to our very special guests, which is Susan Yoder out of Oklahoma. Um, I've known Susan for five years. We met in January in LA at the rich dad, poor dad, our first real estate, um, training together. And Susan has had a really incredible journey. She is knocking it out of the park, um, without a few knocks along the way. So this is real time. So Susan, welcome to our show.
Speaker 4:Thank you so much. I'm so honored to be here. Super excited.
Speaker 3:Do you want abs? Absolutely. So you were already actually, you were already a real tour whenever you started taking the classes.
Speaker 4:Yes. I have been a realtor for probably about 10 years already. Okay. And then, so I've got uni to get more into, I was, I was wanting to get more into the investing side of it and I have been reading the rich dad, poor dad book. And then I just kind of went into that whole trainee and I love the networking that happens at those events. And so it's a great way to, to grow and learn and take your training while you also vacation. Okay.
Speaker 3:Uh, absolutely. So you, you've got to do a lot in real estate, just in these last five years with investing. So can you share with our listeners kind of your journey and what you're doing now because it's so cool. She just, I love it because Susan is a constant learner and just the importance of that and how it's grown your business.
Speaker 4:Yes. So, um, let's say when I, five years ago I had, I had everybody, you know, thinks they're going to buy this first house and they're going to rehab it and they're going to redo it. And they're just, it's going to be the rest is history. So I got really brave and I did the first thing, you know, using somebody else's money. I found these clients and I trusted them. They trusted me. I approached them and I said, Hey, this is what I would like to do. I'd like to, you know, use your money, I'll rehab the house, we'll redo it. I've already bought one that I bought directly from the bank. It was a great house to rent and manage and everything. So I did that one. So they said, sure, we like your energy. We like your, you know, teachability and we will work with you. And so we did. And so that one went really well for awhile. And then if you don't get your proper contractors in line or they all of a sudden just go out and sometimes it's not your fault. Sometimes it's beyond your control, but you have to deal with it. So the reality of the fact is I ended up having to finish this house by myself. And it just went from it strung out way longer than probably six months longer than what it was supposed to cost me more money. You know, you never anticipate going to your investor saying, Hey, this is happening and I don't have your money right now. I know we were on target. We worked this and this and this, but this is what happens. And then the fact that you have to admit your mistakes, you have to say, you know what, this is my responsibility. It's my, I will correct this. Are you going to be willing to work with me on this? I'll see through make a long story short. I ended up, I probably broke even on the house, but I did finish. It did get it sold. I did get my investor paid off. We, we are still, you know, I don't like to say we still work together, but I would not hesitate to call him anytime for advice. In fact, I have, I have called him for advice or, you know, business deals and stuff like that. But that is what I learned the most is, you know, who we contract with or subcontract with is huge, but communication and admitting your faults and, and all of that in, and that was five years ago. So then we, we turn all of that around. Um, I had bought another house, um, sold it, made good money on it all the time. I'm just doing traditional real estate on, you know, that's my day job, my real work. And, and it was, it was going okay, nothing spectacular, but it was going okay. And I was living, that was my main job. So then I got another house and sold it. And on that house, the buyers that wanted it didn't get it. And someone else bought it well. They thought that since I was a real estate agent or broker, that I was not allowed to have that house. So they thought I had bought it at auction, which had no, it was never at auction, make a long story short. Um, they sued me and I had to go and I ha yes, nobody likes to get sued. And I was, oh my gosh. I had never been seen before in my life. And they were going for an atrocious amount. And I'm like, this is insane. This is just ridiculous. Anyway, I had some really good contacts. It lasted probably three years, the whole lawsuit. And it was one of those deals where there was no winning. You know, you come in, this person comes in the courtroom and the other person comes in the courtroom. And they said, they told me the attorney's like, there's nothing you have done, but just because of the, the logistics and where everything is right now, you will not win this case. And if, if you can settle this thing for 15,000, you're better off settling it for 15,000, then spending a hundred thousand to fight it. And so at that point, the economy was not at its best. I was distracted with a whole bunch of other things going on in my life and fell behind him. And now I'm getting in my really gory story I had, um, my partner had bought me out and I had owned part of a real estate brokerage at the time my partner bought me out and I was just, and I had been doing really well. I mean, it was not unusual for us to close 27 million together in a year. And so, you know, I had very comfortable life, so bought me out and I was like, oh, what am I going to do? I've been a broker. I don't like babysitting people. I think I'm just going to go with another franchise and, you know, decide what I want to do well when you're used to being your own boss. And then all of a sudden, you have people telling you, you can't do this. You can't do that and you need to do this and you need to do that. I did it for several years and it was okay, but it just, it just really messed with me anyway. And when you're used to being on a team and all of a sudden you're, one-on-one, you're, you know, you have to learn how to do everything again, because you're not used to doing everything by yourself. You're used to delegating and doing it anyway. So I had the lawsuit going on and time's sort a little bit tough. You had to work a little bit harder. I was completely on my own. And I was just, I went, I went from bad wars, everything was just going downhill. And I was, I remember when I, I had just bought a house and I was like, I don't think I have enough money to, first of all, you know, you're paying attorneys and all that to make your mortgage payment or your vehicle payment. And it was coming close to Christmas time. And I was, you know, when you all of a sudden realize that things are not going well. So I got through that, made it, you know, it was limping along then. I went to a, um, a business wealth and relationship conference. At that point, I was so low. I was like, I actually had to call my brother and my mom. And I said, listen, I need, I'd like to have$2,500. I want to get caught up on my truck payment and my house payment. And we've got Christmas. So they're like, okay, fine. We can, we can do that. So, and in the meantime, I thought I have got to get this figured out. So I went to a business wealth and relationship coach, and there, it was all about, you know, when in, when are we going to face our own problems? I am the only common factor in all of these situations. So obviously I am, I can either fix it or I can run away from it again, or I can do whatever. At that point I had gone back and I was like, can I have another$2,500? I'm just, you know, and they're like, no, my brother said, no. He said, you got yourself into this. You can get yourself out. And I'm going to be honest. I was not happy. I was, I was, first of all, I was mad. And then I, you know, because I was like, put that. And then I thought, you know, you had better fix this out, figured, figured this out because it is not going away. And if you don't figure it out real, real fast, you're going to be on the street. Cause at that point I was probably about a month or maybe two behind on my house. So I, um, decided, you know what, I'm going to practice my gratitudes. I'm going to get out there and I'm going to hustle and I'm going to work my butt off. I took responsibility for what I had. First of all, you know, it's, we are only as, um, what you put out is what you could put, give back. And so, you know, you cannot, you cannot just be in it for yourself. You have to have a genuine interest in other people, you have to find out what their needs are and then you meet their needs. And if you meet their needs, your needs will be met. If you help them, especially in the real estate world, if you help them sell their house, then, then your needs will be met because you're going to get a commission. And so I had to learn how to communicate with people because we get money from people. And so if you don't have a good relationship with people, you're not, you're going to be broke. So whether you like people or not, you better learn to communicate. And so I had to learn how to communicate with them and, and whether I liked them or not. And the more I asked about them, you know, I really started genuinely caring, you know, before it was just like, what is it for me? But it's not that anymore. It's like I have to have the genuine interest in them. And for me, it was like asking them questions about them, their family, their life, what do you want? What do you need? And I, I literally, um, put myself on a budget and I just, I called my bank and I said, listen, here's the deal. I am not able to do this or this or this, but I will do this. If you will work with me. And they were just floored that I called and communicated, whenever they would call me, I would answer the call. I'd say, this is what I've got going on. These are the deals I've gotten going. And then I, um, I just kept working really hard. I literally challenged myself to eat out of my pantry. You do not go to the grocery store and you're not buying anything. If you have a pantry full of crap. And so you clean out your fridge, you clean out your freezer and you clean out your pantry and it doesn't matter if you like it or not. If it's food, it's food. And most of us are overweight anyway. So I just sucked it up. I canceled my subscription to the gym. I canceled my TV. I mean, I was bare bones and I lived like that. And I still try to a little bit, most, you know, you, we have, we are so wasteful. We Americans aren't so wasteful. And so I did that. I mean, I remember when one of the boys came home and they're like, mom, there's no food in the fridge. I'm like, I know I said, if we are, once we are faithful with the little, God will make us Facebook with the lock. So I said, your room, you work in your room when you've got your room taken care of and your truck, then maybe you'll be ready for the next one. And I applied that to my house. My, I mean, everything, I just, this is how I decided I'm going to do it. So anyway, um, then things, you know, I was at least making it and I prayed like crazy. I would tell God, you know what, I have got to have this. And, you know, and he would bring a deal in to my lap or a phone call. And it, it, it just, I credit so much of it to God, but also a lot of hard work. God gives us a brain to use and we cannot expect him to just dump it in our lap without us having to do anything. And we have got to learn new skill sets. So I had to learn new skillsets in the real estate world, because just like the COVID here, I mean, how many of us have had to pivot and do so much stuff online where we have never done it before? So we have to keep learning new skillsets and, and meeting new people and, and all of that. So then I, um, decided that I needed a real estate coach to make myself better actually, before that, um, Elizabeth came over and she stayed at my house and she was just, I was so amazed by her. I remember the first time I sat beside her, I thought, okay, she is a corporate major person. And I mean, I could just tell she was amazing. And I was intimidated by her still am executive goddess for Elizabeth. Yes. Yes. She is an executive goddess. Absolutely. And so we had a really good time when she was telling me all about her BRBO and Airbnb as short-term rental stuff that she was doing, and I wanted to do it. I did not have enough money to pay her for her, you know, coaching. So she said, well, that's okay. You can just do it in installments, in increments. And so we did, and I took it on and I just kind of struggled around that for about a year. In the meantime, I got a real estate coach to help me on that. And I couldn't even afford to pay them, but I would pay him for a month. And then I work, work, work. And as soon as I make it again, I'd pay him for another month and I'd work, work, work anyway, make a long story short. Um, I did from there, I think I did about, um, I did 3 million in sales that one year by myself, which was not bad. I mean, that's not a bad, but I was not. I knew the way I like to live. That's not going to cut it. So then the next year, and I had one, I had one, uh, VRVO house, just one and it was not, uh, it was not fabulous. And then I went to 6 million and I was pretty happy with that. I knew I still had a lot to do well. Then last year at COVID during the middle of the year, I was crunching my numbers, something else I learned, if we don't keep track, if we don't track our numbers, we don't know where we're going. If we don't have a goal, we don't know where we're going. And if you want to just like guide, you know, target, practicing, if he wants to hit that target, he's going to know what he's shooting for. How many of us and I had not done this before, I would never write down how much I want to sell in a year. How many closings do I want to need? What do I want to do this month? How many listings I want to have? So I've learned that if I write something down and I journal things, then I actually have something to hit before. You're just all over the place. It's just like a ship, you know, going in circles. I never had a target. And so we, I think we are not taught that as much anymore. And we're just kind of thrown out in the world and said, go make it. And so for me, it was like, this is my business. This is my world. And I see they're going to make me or break me. And so I'm not going to get, I mean, I get broken all the time, but I don't want to be broke anymore. And so I work really hard, but last year I started my own company. And now today I have a yay. I have a team of girls and, um, we have six VRVO Airbnb houses and we're just knocking it out of the park, um, last year, um, by myself, without anybody else, while other than God's blessing and help I did over 17 million and this year, um, my goal is past that. Yes, yes, yes. I, I I'm, I'm, I'm perfecting my chant, but I am, um, going to be adding options to my real estate company. My youngest son is joining me and to date, we have our first auction contract. Have it hasn't happened yet, but we just signed the paperwork for our first option. And it's a big one. So it's exciting.
Speaker 3:And I'm so proud of Susan because you know, you see everything when people finally make it, like you just see, oh, they're super successful, but that's not how it goes. We have so many bumps and bruises and so much hard times along the way. And just the fact that, you know, number one, she paid her bills, right. She made a deal with the bank. It's so important. I think for people to take responsibility and, you know, just to your point on the numbers, it's huge, huge, huge to always know your numbers and running your numbers in real estate. Also before you do a deal, very important.
Speaker 4:If it does not make sense on paper, it is not going to make sense. I don't care how bad we want. And too often, how many, how many, how many of us do that? We just think about it in our head and we're thinking, okay, but when we write it down, if the numbers aren't going to work, it's not going to work,
Speaker 2:Right. They disciplined to your craft and not deviate from your, your exact numbers. I love how you said that.
Speaker 3:And just for our listeners and for our viewers, viewers, VRBO is vacation rental by owner. So Susan is also doing short term rentals and I'm so excited for your success in it.
Speaker 4:Then for me, that's a huge success because we just, I have a client that has now bought his second house. And it is on, it's a waterfront. We're going to have a, be hosting a wedding there in October, but that house, we get$900 a night on that house. And I'm just like, I had no idea going into it. You know how it is, but it is a blast. It's so much fun. Congratulations.
Speaker 2:You're a rock star.
Speaker 4:Oh my gosh. So I'm just, I'm just so full of it right now. So something else that I keep learning is, you know, when I am out there, you know, so often, um, people will, we wanna, we wanna prove to somebody that we're really amazing and that, you know, that's just, but one thing that I learned in my business, wealth and relationship, um, training is you weigh your ego with your bank account. You can have an ego, but most generally, you're not going to have a bank account. So if you want a bank account, you're not going to have an ego. So you better be humble and you better, you know, you can have, we don't want to be doormats, but how many of us, you know, don't leave our ego at the door. When we go in to do a deal, we want to. So often the main thing about the real estate is you go in, they really don't care. And when I, the one reason I started my own company is they could not tell me who I worked for. They could not tell me the name of the company I worked for. They didn't care. They just wanted me to sell their house. And so I thought, unless the company is really handing me a lot of deals and doing a lot of my marketing, why am I paying them? What I'm already doing? And then, and this is, was a very, very big company I was working for. And I just remember when I left the, the, the rule of thumb was that the company gets to keep my listings. And I had some really good listings. And none of them wanted to, none of them wanted to stay with the company. They went out to go with me. And my broker was like, he actually called every one of them. And he said, why would you want to go with Susan? Instead of me, he said, look at my company, look at all my marketing and advertising everything. And Susan is little and she has nothing. And they're like, we like Susan, Susan, we'll get it done. And he's, he, you know, he thought I just had a drink or whatever, but he made the comment. He said, everybody likes you. And I wanted to say it's because it's about a relationship that company. And I didn't realize it till after I had people telling me they're in it for the money. They're not in it for the people. And so for me, going in, if I make it about them, that's the important part. They don't care. They don't care where I live. They don't care what I do. They don't care. They don't care anything about my life. People want to talk about themselves. And so all you have to do is open up the door and ask the right questions and they tell you everything you need to know. So the key thing is asking questions and listening, and I'm still learning that, trust me, I'm not. I get, I, I get a little excited sometimes, especially when you walk into an a two and a half million dollar house and you feel Florida and honored that they picked up little me, you know, this little Amish country girl, and now I get to be, you know, after you interview and they pick you, it, it makes I am so gracious. God has just blessed me so much. It is just crazy. Anyway, I start blabbering.
Speaker 2:So do you do most of your business there in Oklahoma?
Speaker 4:I do. I do. I am only licensed in Oklahoma right now. Okay.
Speaker 2:So, um, we got your phone number and your email they're listed out there. So can you just go ahead and repeat what that is for our listening audience?
Speaker 4:Yeah, it is Susan Yoder with American pride Realty. And my phone number is(918) 521-3165. And my email is Susan Yetter, five13@gmail.com.
Speaker 3:So obviously Susan is a go getter and a hustler. So if you want to do business in Oklahoma, if you need an auctioneer, she is going to be the best auctioneer. Um, so, so just, you know, again, thank you for being honest, you know, just for, you know, sharing your story cause that's not easy. Um, so we, we so appreciate that and I'm very proud of you and I can't wait to see you with more success come from what you do.
Speaker 4:Oh, I am so excited. So yes, nobody sees me when I'm in my closet crying. So do you have,
Speaker 3:Thank you. What one piece of advice would you give to our viewers and our listeners?
Speaker 4:Um, don't be afraid to try. Don't take yourself so seriously. And if you're, if you're honest with, especially your people, you know, if you, if they ask you a question and you don't know, just tell them and say, listen, I don't know the answer to that question, but I will find out. And when they know that you are genuine and sincere and you take responsibility for your mistakes, I have already, you know, when you're dealing with people and, and their properties and stuff, that's a high dollar investment. That's probably one of the closest things to their heart, except their kids because it's money. And so for me, if I dropped the ball and I caused a delay in a closing or something, I have several times had to say, you know what? I can take responsibility for that. That was my fault. And I, and it just diffuses the situation. You still have to deal with it. And trust me, it is not hard. It is not easy having those hard conversations, but it is very important to have them here, here,
Speaker 2:Susan, thank you so much for being on our show today. You're amazing. You're very inspiring. And you're just a super woman, like super easy.
Speaker 4:I don't feel like a super woman, but she is. Everyone knows her. I know, I know
Speaker 2:I'm flying in her pixie dust. We're about out of time for today. So Susan, thanks so much for being on. We're going to put your information in the show notes as well. So guys reach out to Susan. If you need anything, especially if you're in Oklahoma doing business, you definitely need to check out Susan and uh, even let her go. It sounds like she's going to be a great auctioneer too. It is. It's going to be great. You're welcome. All right guys, until next time. Bye. Bye.
Speaker 1:Do wealth show is produced by just a Bogart and super EA sponsored by Bryghtpath notes and Elizabeth May Hora. Thanks for listening and watching for our show.