Latest / Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love / Amassing Wealth Series: Wealthy Woman Lawyer® LaTerria Sherer Shares Her Real Estate Investment Journey

Transcript

Amassing Wealth Series: Wealthy Woman Lawyer® LaTerria Sherer Shares Her Real Estate Investment Journey · Wealthy Woman Lawyer Podcast, Helping you create a profitable, sustainable law firm you love

• 0:02
  Davina Frederick: Hi, everyone, and welcome to the wealthy woman
• 0:04
  lawyer podcast. I'm your host, Athena Frederick. And I'm here
• 0:07
  today with a friend of mine and a fabulous woman, attorney and
• 0:12
  law firm owner laterra sharer and her businesses share law.
• 0:17
  And I can't wait to get started with this conversation with her
• 0:20
  today because not only are we going to talk about her journey
• 0:22
  to becoming an attorney and starting our own law firm, but
• 0:25
  we're really going to get into as part of our amassing wealth
• 0:29
  series, we're going to get into kind of her side hustle and what
• 0:33
  it is that she does with some of those profits from the law firm,
• 0:37
  how she's investing them in real estate. And we're gonna get in
• 0:41
  more of that in a minute. But right now, I just want to say
• 0:43
  welcome to tariffs. Great. I always love talking with you.
• 0:46
  Welcome, welcome.
• 0:47
  Unknown: Hey, thanks for having me.
• 0:49
  Davina Frederick: Good. So how are you doing today? You You and
• 0:52
  I both are in Florida, you're getting as much rain over in
• 0:55
  Tampa, as we're getting in Orlando.
• 0:57
  Unknown: Um, we were but now it's super high. Like I can't
• 1:01
  breathe. When I go outside.
• 1:03
  Davina Frederick: I know, I went outside a little earlier. And I
• 1:05
  was like, oh my god, this is way too way too stuffy out here. So
• 1:11
  I want to I want to share with people briefly just kind of want
• 1:15
  to go into your journey into what made you decide to be an
• 1:19
  attorney. And what did you what what did you do before you
• 1:23
  started your own law firm? A lot of people's, you know, say I
• 1:28
  dreamed of being an attorney when I was a child. And so
• 1:30
  people say, Well, you know, I'd happened by fluke. So I'm always
• 1:33
  curious to hear about people's stories. So what brought them to
• 1:36
  the law.
• 1:38
  Unknown: So I kind of talked a lot my whole life, I always had
• 1:43
  a lot to say, I always had a lot of attitude, and always ready to
• 1:48
  argue. So I remember being in like second grade, and my dad
• 1:52
  and teachers will be like, You should be a lawyer because you
• 1:54
  talk too much. And so when I started saying because I heard
• 2:00
  it so much. I started saying, oh, I want to be a lawyer, I'm
• 2:02
  gonna be a lawyer, and then it just follow. It just followed
• 2:05
  me. So I've never really want it to be anything else. Like, it
• 2:10
  was like it. And I mean, it happened. I feel like sometimes
• 2:14
  I'm living the dream, because I'm like, you know, you're
• 2:17
  getting you say you want to be something you don't really think
• 2:19
  is gonna happen. So that.
• 2:24
  Davina Frederick: Like, if you had said you were going to be a
• 2:25
  baseball player. You know, maybe not, but a lawyer. That's
• 2:30
  fantastic. And it's great how your dad sort of planted that
• 2:32
  seed, right from the beginning with you to aspire to something
• 2:38
  to such a great thing, you know?
• 2:40
  Unknown: Yeah, I don't even know if he knew he was playing the
• 2:42
  seat. I think he was really just saying like, You talk too much.
• 2:46
  To him out. So.
• 2:49
  Davina Frederick: So parents out there have young children, be
• 2:51
  careful what you say. Because you never know you start you
• 2:54
  better start planning those. Pick out the professions you
• 2:57
  truly want your children to have if you start saying stuff like
• 3:00
  that. So when did you start practicing law?
• 3:06
  Unknown: 2017 I think May of 2017. I was sworn in. I first
• 3:15
  started out with a small family law firm. And I liked the job.
• 3:20
  But I was quickly let down because you know, you feel like
• 3:23
  Oh, I'm going to be a lawyer. The salary is going to be great.
• 3:25
  Well, no, I started off making like, less than I would have
• 3:29
  made if I work in a department store.
• 3:33
  Davina Frederick: Yeah, that's what they don't tell you in law
• 3:35
  school.
• 3:36
  Unknown: Like that was the one person the one company that was
• 3:39
  take the chance to meet a small private law firm. And I mean, I
• 3:43
  love them. I liked it. But then it was far away from home. I
• 3:47
  ended up moving closer into Tampa. So first it was family
• 3:51
  law, which was in Largo, and then I moved in the Tampa
• 3:54
  downtown Tampa, where I did basically insurance litigation.
• 3:59
  Plaintiff side though, so I'm not defense. So I will be going
• 4:03
  against the insurance companies with homeowners claims I did
• 4:07
  that for almost three years, I want to say, and then COVID
• 4:11
  happened. Layoffs happened. Literally They laid me off on
• 4:15
  Friday, Monday, I had an interview and got a job by a big
• 4:21
  the biggest law firm I've ever worked for. It was a lot for me.
• 4:25
  And then personal injury and then also I did some insurance
• 4:30
  stuff as well, but it was windshield damages. So you know,
• 4:34
  they come out and fix your car. Insurance companies don't pay
• 4:37
  that type of thing. Right. And so I realized when I got there
• 4:41
  because I'm so used to working in small places were so
• 4:43
  personable and everybody's family. Once I got there,
• 4:47
  finally making six figures and I was just like, yeah, no, it's
• 4:52
  not for me.
• 4:53
  Davina Frederick: What is it that you didn't like about it?
• 4:56
  Unknown: Um, I didn't like how it wasn't as personal No, as it
• 5:00
  wasn't the other places like I didn't get the familial
• 5:03
  connection there. So that was like a doubt like a big downfall
• 5:08
  for me. Most of the people in charge and all of the attorneys
• 5:13
  were males, except me and someone who was related to the
• 5:16
  owner. So that was also a way in which they treated you
• 5:21
  different. And you know, sometimes it's not on purpose,
• 5:23
  but it's all men, you never have to accommodate. They never have
• 5:26
  to accommodate women. You know, I had a kid already. So I'm
• 5:30
  thinking, Oh, I'll come to work at seven. I'm gonna leave it to,
• 5:34
  I'm not going to take a break. So I can go home, get the kids
• 5:37
  cook dinner, all this stuff, which anywhere else I've ever
• 5:39
  worked? That would have been perfect, like, long as you get
• 5:42
  your stuff done, but it was like, yeah, no, everybody's here
• 5:45
  to 7pm You should be here to kiss your husband cook for the
• 5:48
  kids. And I'm just like, No, I don't, I'm gonna cook.
• 5:52
  Davina Frederick: I want to cook for your babies. And your babies
• 5:54
  are a little too.
• 5:55
  Unknown: Yeah, they were little. So it just wasn't, it just
• 5:59
  wasn't ideal. It wasn't working out for me. And I've always had
• 6:03
  in the back of my head, like, I should own my own business. But
• 6:06
  I talked myself out of it. I started a law firm right out of
• 6:11
  law school. Really? Yeah. And I never did anything with it never
• 6:15
  told anybody. I paid for a website that I never put out,
• 6:19
  had a logo, registered my business as an LLC and
• 6:22
  everything, and I got scared. So kind of job.
• 6:26
  Davina Frederick: I think I think a lot of people, that's
• 6:29
  probably the story of a lot of people, is they sort of have it
• 6:33
  in the back of their mind that maybe I'll start my own
• 6:36
  business. But then they think, Well, I've got to go get the
• 6:38
  experience. First, I've got to work with somebody. First of
• 6:42
  all, I started mine right out of law school. And I still have
• 6:46
  that doubt in my mind. And I had people telling me that as well.
• 6:51
  You know, we have other people's stories we have to deal with as
• 6:53
  well as our own sometimes.
• 6:56
  Unknown: Yeah, I was like, You know what, I'm gonna bet on me,
• 6:58
  finally. I mean, like, I put all this hard work in other people's
• 7:01
  businesses, why can't I put it into my own, and I know I can
• 7:05
  get a job. So if he doesn't work, I just get a job.
• 7:12
  Davina Frederick: Right. So what about when did you start your
• 7:16
  own law firm?
• 7:17
  Unknown: Um, it was a little more than so May of 2021. I
• 7:25
  think made 11 2021?
• 7:27
  Davina Frederick: Yeah. So you haven't? So you've been over a
• 7:32
  year? Over a year, year and a half. Right? So great, great
• 7:40
  job. So far. I'm excited for you know, you've done that. What do
• 7:43
  you think? But you've made a lot of progress in that amount of
• 7:49
  time as well. So, you know, foundation, the foundation year,
• 7:54
  right? When you're first starting out, you think there's
• 7:56
  something you finally kind of said, I'm gonna go, I'm gonna go
• 8:02
  do this. Do you think there is something that has been in the
• 8:06
  back of your mind that you've sort of had to work through in
• 8:09
  terms of mindset around it?
• 8:12
  Unknown: Yeah, I think the biggest thing for me was, and it
• 8:15
  was, you know, I'd say that to other people before, don't worry
• 8:18
  about other people, you got to do your own thing, you can't
• 8:21
  compare yourself. And here I am worrying about everybody else in
• 8:24
  trying to compare myself and I'm just like, where they're going
• 8:27
  this and they have this and this is this. And that's, that's been
• 8:31
  my biggest hurdle. The days that I'm most stressed is because I'm
• 8:35
  worried about the things that I don't have, not because I don't
• 8:38
  have them, but because everybody else has it. And I feel like
• 8:42
  that's what I need to be doing. And it is kinda like me beating
• 8:47
  myself down. And, you know, I gotta take a moment step back
• 8:51
  and be like, Okay, this is your journey. This is your eye, you
• 8:56
  can't really see what's going on behind closed doors with
• 8:58
  everyone, you only see what they put out. And, you know, most of
• 9:03
  that a lot of times isn't really the full truth.
• 9:06
  Davina Frederick: Right? Right. Right, you don't see or it may
• 9:08
  be a part of the truth, but you don't see the whole truth to
• 9:11
  that is such wisdom that is so wise, because even, even at my
• 9:18
  age, as long as I've been in business, I know social media
• 9:21
  yet can really make you feel that way. Because everything
• 9:24
  looks so polished and perfect, but it's literally 60 seconds,
• 9:27
  30 seconds, 10 seconds, and you're seeing somebody out
• 9:31
  there. And and also, you know, what are the things I always
• 9:35
  tell people? Like, I've got a team of people who helped me do
• 9:39
  things. So it's, it's also that when you're starting out and
• 9:44
  you're trying to prioritize, where do I need to put my time
• 9:47
  and energy and also recognize that that there are things that
• 9:53
  you see out there are people with teams of people who have
• 9:56
  probably been in business for a lot longer than you have? And so
• 10:00
  You're comparing your behind the scenes with their highlight
• 10:03
  reel, as they say. So I can certainly understand that. And I
• 10:08
  always said, I always say that to people, even with me, at my
• 10:12
  age, I've got so many tools in my toolbox to help me with my
• 10:17
  mindset and helped me shift my mindset. And still, if I'm
• 10:21
  sitting there in a vulnerable state of mind, tired, exhausted
• 10:26
  from whatever that day, and I'm scrolling through social media,
• 10:32
  it can, it can be very triggering, you know, where you
• 10:35
  just start going, Oh, I should be doing this, I should be doing
• 10:38
  that. I should be doing this. And you've already put in a full
• 10:40
  day's work that anybody would be proud of. And, and have that
• 10:45
  experience is that kind of like the experience that you've had?
• 10:48
  Unknown: It is, but I recently saw a real you probably have
• 10:51
  seen it is the girl she has like all her stuff set up nice. And
• 10:55
  then she did like behind the scenes. And she's like, this
• 10:57
  isn't even my house. Over there. It's messy. And so
• 11:02
  Davina Frederick: it's in your White House. Right?
• 11:04
  Unknown: So people are painting these pictures, this is what
• 11:06
  they're presenting to you. But that's not even what you know
• 11:10
  what it is at the end of the day. So I'm learning to you
• 11:13
  know, kind of just almost like a you know, you're scrolling just
• 11:16
  scroll past it, just keep going. Don't worry about it. Don't look
• 11:19
  at it, you know,
• 11:21
  Davina Frederick: yeah. And had also put it down and walk away
• 11:24
  from it. One of the best things I did was take over the summer,
• 11:28
  I took Facebook and Instagram off of my phone. And it that
• 11:33
  helped me resist that that temptation to just, it's a
• 11:38
  habit, you just picking it up and there's nothing else. And I
• 11:42
  went on vacation. For the first time I had carried this. There's
• 11:44
  this book that I had wanted to read. And I'd probably carried
• 11:47
  it on like free vacations and never read it. And this time,
• 11:50
  because I didn't have Facebook and Instagram on my phone. I
• 11:52
  actually read the book. And it was great. And I was kicking
• 11:54
  myself for not reading it earlier. So I mean, it's amazing
• 11:58
  what what that can do, are you and I can't talk about social
• 12:00
  media. I've got all kinds of opinions about that. But the
• 12:03
  good and the bad. But that's not why we're here today. And I want
• 12:05
  to get into why we are here today. And besides for people to
• 12:09
  get to know you and know more about you. And also why don't
• 12:12
  you tell us really quick because I don't think you have what
• 12:15
  areas you practice now in Sharia law,
• 12:18
  Unknown: personal injury estate planning, I just added real
• 12:22
  estate and family law
• 12:25
  Davina Frederick: and family law. So let your real estate
• 12:28
  you've mentioned. And part of the reason why you add a real
• 12:31
  estate you've told me before is because you already have a
• 12:35
  successful real estate business. In fact, you and your husband,
• 12:39
  you have a trucking company, that's kind of his thing that he
• 12:41
  sort of handles, and then you have a real estate investment
• 12:45
  business. And you had all of these before you went gung ho
• 12:52
  headlong into your law firm business. So I want to talk
• 12:55
  about the real estate business today. Because I think there are
• 12:57
  a lot of people out there who are really interested in real
• 13:02
  estate investment and want to know more about it as a side
• 13:06
  hustle, or as a full blown business or whatever. So tell me
• 13:11
  about Tim, first of all, tell me where did you start with it when
• 13:16
  it what made you decide that this was something that you and
• 13:19
  your husband wanted to invest in?
• 13:22
  Unknown: So how I originally started was okay, we didn't have
• 13:25
  any kids. Let's think about generational wealth, like well,
• 13:28
  like, what's something we can do? So you're like, we wrote
• 13:31
  down all of these things, businesses that you can do, like
• 13:35
  quick startup franchises, from daycares to car services, we
• 13:40
  just had a big list of things. And then they got narrowed down
• 13:43
  to Okay, well, what can you make the most money in the quickest?
• 13:47
  And I would always watch HGTV and I'm like, oh, he'll be far
• 13:51
  has a class, we should go. Oh, I went we both went to kill the
• 13:57
  forest class in Tampa. And I got there and I'm like, alright,
• 14:02
  well, I guess you got to pay for some knowledge. Sometimes. We
• 14:05
  pay. And then the information they gave us. I was like, Oh,
• 14:09
  I've read it. Like once I calmed down and I was like, yeah, no,
• 14:13
  we can't do that. Got our money back. And I'm like, You know
• 14:16
  what, I'm gonna do research. And on my downtime, lunch break, I
• 14:19
  will just start reading books, reading articles, and my husband
• 14:23
  would be like looking for properties. He was taking his
• 14:25
  real estate exam at the time. So he will be looking for
• 14:28
  properties. And then one day, there was an open house with
• 14:32
  some company I think is a company you can get like off
• 14:35
  like homes that are not on the market yet. I think it's called
• 14:39
  Northwestern or north. Not quite sure. I don't remember what it's
• 14:43
  called. But either way, it's one of it's one of those places,
• 14:48
  they send us the emails open house, we can live bid and I'm
• 14:51
  like, oh, it's up the street from work. I'm taking my break
• 14:53
  and I'm gonna go and I went and I been all by myself. Just me
• 14:58
  and I'm with my mom. So my heels on, like walking through this
• 15:02
  nasty house. Everybody else seems like they know what
• 15:06
  they're doing. But I mean, I'm a lawyer. So you know, we can
• 15:09
  always make it seem like we know, right?
• 15:11
  Davina Frederick: Even if we don't know what we're doing,
• 15:13
  we've got the suit on. So Right, exactly.
• 15:17
  Unknown: I put I wrote my bid down on the paper and gave it to
• 15:20
  the guy, I got a call, like, 30 minutes later, like you won the
• 15:24
  bid. And I was like
• 15:30
  I didn't even know what to do next. So I mean, but I read all
• 15:34
  these articles. And I'm like, alright, we can get hard money.
• 15:38
  Yeah, hard money, just a higher interest rate. I think it can
• 15:41
  range from like, 10 to 15%. But the plan is to pay it off early.
• 15:46
  And so we did it. We had our first home, and I evicted people
• 15:50
  for the first time. That was interesting, because they
• 15:55
  wouldn't they didn't want to leave.
• 15:56
  Davina Frederick: So had to do that. Wow. Oh, wow. So you got a
• 15:59
  hard money loan? Why don't you tell everybody what a hard money
• 16:02
  loan is, in case they don't know what that is.
• 16:04
  Unknown: So you can think of it the same way you get a loan,
• 16:09
  opposite of a mortgage. And so mortgages are lower percentages,
• 16:14
  they have a longer period of 30 years, sometimes you can do 15.
• 16:17
  But with hard money loans, generally you're looking at a
• 16:20
  shorter time period, I think the shortest time period I've seen
• 16:24
  is three years. And the higher interest rate, they expect you
• 16:28
  to either flip and sell the property or refinance within you
• 16:34
  know, before that time period. It also helps when you don't
• 16:38
  have a lot of business credit, because no one's gonna give you
• 16:41
  money, because you don't have business credit. Once you get
• 16:43
  that hard money loan, you put your you know, you're the
• 16:46
  guarantor. So you're putting yourself on there as the
• 16:49
  guarantor, you put your business first. So you want to make sure
• 16:51
  you have your EIN and everything, you put your
• 16:53
  business first. And then after you do maybe two or three, with
• 16:57
  the same company, what they ended up doing is lowering your
• 17:00
  interest rate, and they also lower the amount of money you
• 17:03
  have to put down. So your credit is almost like the roof, you
• 17:09
  build the credit from the relationship that you built with
• 17:11
  these lenders versus someone like oh, well, I see your credit
• 17:16
  is 610 or, you know, six is not enough for you to get this
• 17:21
  property and what but when you work with them so many times
• 17:24
  they kind of will extend themselves to you in a different
• 17:27
  manner than the first time. False.
• 17:30
  Davina Frederick: So when you when you did this, you got your
• 17:33
  hard money loan. What was your plan that was it to like you see
• 17:39
  an HCG HGTV where you fix it up and you sell it?
• 17:43
  Unknown: Well, the plan was to fix it up. And then I call my
• 17:47
  financial advisor. Like, as soon as I did it, I'm like, Okay,
• 17:50
  what should I do? So you know, they run the numbers, and
• 17:53
  they're like, Oh, well, if you keep it for this amount of time,
• 17:55
  it's projected to get this amount of money, but if you sell
• 17:57
  it, he kind of put it side by side. And it's like, alright, we
• 18:00
  should keep it for a few years. Have good tenants in there. So I
• 18:04
  get my dad's a contractor. We did like a quick flip. That was
• 18:09
  good enough to get people and, and that's how we did that. And
• 18:14
  I think I just sold it. We actually just sold it. So we
• 18:17
  bought it in 2018. And so did at the end of 2021.
• 18:22
  Davina Frederick: So you had a renter, you fix it up enough to
• 18:25
  get a renter, it
• 18:26
  Unknown: was a duplex. So two renters What's that? I had? It
• 18:29
  was a duplex. So there were two tenants.
• 18:31
  Davina Frederick: Oh two renters? Awesome. So you got two
• 18:34
  tenants. And so it was cash flowing for a while? Did it
• 18:37
  cover? Did it exceed the hard money? Maybe it did.
• 18:42
  Unknown: But what I will say is the worst mistake that we made
• 18:46
  with that was not understanding exactly how hard money worked.
• 18:50
  And we didn't refinance, we should have refinanced sometimes
• 18:54
  you can refinance in 14 days. It depends on what's in your
• 18:57
  paperwork. But we should have at least at the lease refinance
• 19:01
  within that first year, because we would have saved several
• 19:04
  several $1,000 that we paid an interest
• 19:06
  Davina Frederick: Wow. So you really you basically really just
• 19:09
  jumped off and jumped into this thing and said we're gonna look
• 19:12
  we're gonna build our wings on the way down. You one of the
• 19:17
  things that you mentioned, I want to backtrack and then in
• 19:19
  case people missed it, is that you actually formed a business
• 19:23
  entity for this and bought this property through this business
• 19:27
  entity, even though you personally guaranteed it. The
• 19:30
  loan you you bought it in the name of a business entity,
• 19:33
  correct? Yes. Okay, so you set up an LLC, I'm assuming
• 19:37
  Unknown: yep, I set up an LLC I just went to Sunday's dot com
• 19:41
  set up an LLC. Paid what I don't know I want to say is like three
• 19:46
  something or something like that pay whatever the fee was. Got an
• 19:50
  IRS website, got an EIN number, got a bank account. And I
• 19:57
  literally we did all of that and I think we did that in like
• 20:01
  September. And I didn't go to the house until like December. I
• 20:07
  didn't see my first property until December. But let's just
• 20:11
  get it set up. And so if something comes through, like,
• 20:14
  we'll be ready.
• 20:15
  Davina Frederick: Yeah, yeah. Yeah. You innocent. This is not
• 20:18
  the first time you did that you did that with your law firm to
• 20:20
  you. You put your dreams out there in by going ahead and
• 20:26
  establishing the entity and the thing and then you know, and
• 20:30
  then let's see what the universe leads us to right. And so yours
• 20:36
  led to a, a, a shabby sort of first buy, but at least you were
• 20:43
  able to cut your teeth on that right, and what is one, one of
• 20:46
  the things I think is really the advantage that you have, besides
• 20:49
  your ability to take risk, which I think is a huge advantage,
• 20:52
  you're kind of attitude, we could do this. Like, I love the
• 20:55
  enthusiasm, right? I mean, and I think that's the key in
• 20:58
  business, right? But having your dad as a contractor, I think one
• 21:02
  of the biggest challenges that people have in the real estate
• 21:05
  market these days, is getting a contractor and having that
• 21:09
  relationship, but you already have that relationship, how was
• 21:12
  that having your data as your contractor?
• 21:15
  Unknown: It was different because my dad lives in DC. So
• 21:18
  he came down for two weeks and stayed with us and got it done.
• 21:22
  Because we didn't really know people. And I mean, but now we
• 21:25
  have a whole Rolodex of people that we call. So it's different
• 21:29
  now. But it was it was a little it was a little stressful
• 21:33
  because my dad didn't live here. So I didn't get to walk the
• 21:36
  property with my contractor, as I would do now that I'm more
• 21:40
  like we're more seasoned now. So we know what to do. We don't
• 21:43
  walk a property without a contractor without an
• 21:45
  electrician, you know, without someone they can look at the
• 21:48
  pipes and all that all of that stuff. So we try to we go to a
• 21:51
  property. It's us plus maybe three to five other people
• 21:54
  depending.
• 21:56
  Davina Frederick: So when you're first checking out whether or
• 21:58
  not you want to buy it. Yeah. So what? So where did you go from
• 22:04
  there? You had that first property, which you've just
• 22:06
  sold, but you had tenants in it. So where did you go from that
• 22:10
  point?
• 22:12
  Unknown: Oh, that rental property kept us bound for about
• 22:14
  a year and a half. And I felt like you know what, it was slow,
• 22:19
  just kind of like it is with my law firm now that it's new,
• 22:22
  which is why I understand what it is. And I'm okay, right.
• 22:27
  Yeah. But so the first year and a half, we will make like maybe
• 22:30
  seven or $800 profit if people pay their rent on time, per
• 22:35
  month. So yeah, so you have that two week attendance, but you
• 22:39
  can't prove it, you don't know how they're going to be. So
• 22:44
  that's that we I was just like, You know what, I don't want to
• 22:47
  do this anymore. I hate it. I can't do it. I just want to
• 22:50
  flip. That's it. But then, you know, years past and my husband,
• 22:56
  he's working to add another job where he was in finance. And he
• 23:01
  was at work all the time. He had certain days, he had to work
• 23:04
  late. Because I was a lawyer, I had a little bit more leisure
• 23:07
  time. And I'm like, we should really like we should do it. So
• 23:10
  we had the baby. We were all we were both out on leave. And we
• 23:15
  were like, Alright, let's do it. We're not gonna you're not going
• 23:18
  back to work. Like we're not going back to work. I did it.
• 23:19
  So.
• 23:21
  Davina Frederick: So you know, so we're turning it into a full
• 23:23
  on business.
• 23:24
  Unknown: Yeah. And then so we I want to say we moved from our
• 23:29
  house that we were in? Well, we yeah, we moved from our house
• 23:32
  that we were in, we made that a rental property. Then we sold
• 23:35
  the first duplex, and then just this year, and that was like in
• 23:40
  the first three years. That's all we did. But then we get into
• 23:43
  2022. We are in the process of flipping two homes in Atlanta.
• 23:51
  We have flipped one in Largo, Largo, and Atlanta lakes is what
• 23:56
  it was Lando lakes. And then we have one right now in SAMSA.
• 24:00
  That we are waiting to get bids on. So but it didn't happen
• 24:04
  overnight. Like this just happened. So they have five
• 24:07
  deals in the year is we're only halfway through that says a lot.
• 24:12
  And I'm just like, You know what, I got it. That's why I
• 24:15
  have to stick it out with my law firm because I know how how
• 24:18
  business works. Right? Yeah, we also just started doing like JV
• 24:25
  contracts, where we will basically bring other people in
• 24:30
  if they want to be investors as well. And they can come in and
• 24:34
  put in and split profit or do a percentage and things like that.
• 24:39
  And with that, we kind of started a program. So now people
• 24:42
  are able to get in and if save the downpayment is, I guess
• 24:48
  40,000 Which would be like a general downpayment. So if you
• 24:52
  were to put in 20,000, and we put in 20,000. So at the end
• 24:56
  when we look at the numbers we split every week up we upfront
• 24:59
  everything Beginning except you're down upon your deposit.
• 25:02
  But when you look at the numbers at the end, we split it all. So
• 25:05
  everybody pays everything evenly. And so then you're able
• 25:08
  to walk away with not only the money, but also you're included
• 25:14
  in all of the emails, and you get to come to the meetings. And
• 25:17
  when we have lunches and when we're doing Reno and we're
• 25:20
  hiring the people you get to come in, you get to be a part of
• 25:23
  that. So you get hands on learning versus someone talking
• 25:26
  to you on your screen, you can ask questions, you're actually
• 25:29
  in it. And we found that people like that
• 25:34
  Davina Frederick: a lot. Yeah. Yeah. So that's, that's that
• 25:38
  whole thing you didn't get when you went and you looked at what
• 25:41
  Hilary Farr was offering, you're like, I'm gonna go create the
• 25:44
  thing. It's kind of like, why I started my coaching business, is
• 25:47
  I'm gonna go create the thing that I didn't get that I thought
• 25:49
  I was gonna get, or that I wanted thought would really help
• 25:52
  me. So you've created that now, and as a way to expand your
• 25:56
  business as well. So let me ask you, what, what was it like to
• 26:02
  what made you decide to expand into other markets, because I've
• 26:05
  heard different things I've heard people say, you know, I
• 26:10
  found a market where I can afford to buy and do buy into,
• 26:15
  because there are a lot of markets that were priced out of,
• 26:17
  and then I've had other people say, Buy where you are, because
• 26:21
  that way you can go down the road. So instead of buying where
• 26:25
  you want a vacation home, and then having to deal with that
• 26:28
  property off site, and all of that, buy where you are, and
• 26:32
  grow your business that way. So you can get to things if you
• 26:35
  need to, what you've now branched out in some different
• 26:38
  places, what was your thinking behind that? What made you guys
• 26:40
  decide to do that,
• 26:43
  Unknown: um, typically, we buy what we can afford. And when I
• 26:47
  you know, people say afford you think of just money, but know,
• 26:51
  if my time can afford it. If you know if it makes sense. If my
• 26:58
  mental space can afford it, like if it can fit, if it can't fit
• 27:02
  in every in any way that we would have to pay, because you
• 27:06
  know you're paying your time. And things like that, if it's
• 27:09
  taken up space in my life, and I don't have it, I don't have the
• 27:13
  time or I don't have the space. So we kind of look at the
• 27:15
  overall picture. So it's just almost like if it makes sense,
• 27:19
  then we do it. We've expanded our context to different states
• 27:24
  as well. So we don't have to be in the state. Usually we go for
• 27:28
  closing. And then yeah, we go for closing when we're buying,
• 27:32
  we go for closing when we're selling.
• 27:34
  Davina Frederick: What is that? So when you expand your
• 27:37
  contacts, how do you go about sort of building that network,
• 27:39
  you've also got a Rolodex full of people now that you can call
• 27:44
  on for contract services and stuff like that. So how did you
• 27:47
  go about expanding and developing your network, because
• 27:50
  I really think that's the, that's the big key to success in
• 27:53
  the real estate market, is having a good network,
• 27:56
  Unknown: what happens is, it's all these little free companies
• 28:01
  that you can reach out to, and they'll send you so to speak,
• 28:04
  leads, and the leads are actually free. And it'll be
• 28:07
  like, you know, this property here and Plant City and X y&z
• 28:10
  amount of money is here is there, whatever. So you may not
• 28:14
  like it, or you may be interested, but then you ended
• 28:17
  up meeting them where you guys talk, and you start asking
• 28:19
  questions, and they're like, Oh, well, if we get another one,
• 28:22
  I'll let you know. So you become a part of their contact, they
• 28:25
  become a part of yours. So if I ever saw something that they
• 28:29
  didn't send me, well, then I reach out to them like, Hey,
• 28:32
  have you seen this? Do you know these people? And then they're
• 28:34
  like, oh, yeah, I do. You should talk to them. And when you call
• 28:38
  x to speak to so and so. So now you got two or three people. And
• 28:43
  then you're like, Oh, do you know somebody that does this?
• 28:45
  And they're like, no, but so so might so now you're on like five
• 28:49
  and six people and you're just building and building and
• 28:51
  building. And then what happens is, after so many months,
• 28:55
  sometimes years, some relationships are built faster
• 28:58
  than others. But after that time, they're like they they
• 29:02
  coined you as the go to person for X y&z Whatever it is that
• 29:07
  you gave them the information for. And so we're all just
• 29:09
  sharing contacts, but it's about being you got to, you know, talk
• 29:14
  to people, and not be afraid, because someone will see us
• 29:18
  doing a renewal, and they'll walk right up to us and be like,
• 29:20
  Oh, hey, I saw you're getting a new roof next time, you should
• 29:24
  look at my company. And so it goes like that. Also, people
• 29:31
  they kinda like sleep on like, Angie's List and things of that
• 29:36
  nature, or handyman.com. So these people in there, they're
• 29:40
  running their businesses through these third parties. And you
• 29:44
  know, they have to give them a percentage whenever they run
• 29:46
  through there. But once they once they leave, they give you a
• 29:48
  business card. So now you can do business directly with them. And
• 29:53
  if they like you enough, they're like, Oh, you did this Can I get
• 29:56
  on? So that's why we start doing joint ventures Jay, when I say
• 30:00
  JV contract, it stands for joint venture. But that's why we
• 30:03
  started doing JV contracts. We met these guys. They were great.
• 30:08
  They had just gotten the area from New York. And they were
• 30:10
  like, Oh, we're interested, we want to learn. Well, the best
• 30:13
  way to learn is to do it. You got money. And they were like,
• 30:18
  You got money? Like, yeah, we got half of the next, the next
• 30:23
  downpayment. All right, we did it. They literally flipped that
• 30:26
  house in a week. Wow. Yes. And so in all of their context, now
• 30:32
  we have all of their contacts. So you just got to kind of get
• 30:35
  out there and talk to people don't be afraid to share what
• 30:38
  you do and who you are. When people are like, Hey, how are
• 30:42
  you? I'm so and so. And depending on where I am,
• 30:45
  sometimes I will say I am in the real estate, sometimes I'll say
• 30:48
  I'm an attorney, it just depends on how it you know how it fits
• 30:51
  in the moment. But overall, not being afraid to get out there,
• 30:55
  speak up and introduce yourself. And you know, if you need
• 30:58
  Davina Frederick: for being an attorney has really helped you
• 31:00
  in this real estate business, too. I think that's something
• 31:03
  that people people often overlook about their, their the
• 31:09
  advantage that we have as lawyers, even if you don't have
• 31:14
  a law firm don't practice you. You take that education with
• 31:18
  you. And it helps you in life in a way that other people don't
• 31:21
  have that because you can do for yourself. I mean, for us,
• 31:25
  through the years, it's been fantastic. Because there's, you
• 31:27
  know, I recon, I can write contracts, I read contracts, I
• 31:30
  understand that it's a it's a whole, you know, skill set that
• 31:34
  we have that that is that an advantage. And I think for real
• 31:38
  estate that really probably put you at a tremendous advantage,
• 31:42
  because of you'd gone in without being a lawyer and not having
• 31:46
  that knowledge. And then suddenly, you got to stack up
• 31:48
  closing documents. And you're like, what?
• 31:53
  Unknown: Yeah, I told my husband put me on the website as in
• 31:55
  house counsel.
• 32:01
  Davina Frederick: So you're, what do you guys have like a
• 32:05
  certain goal that you set as far as we want to have this many
• 32:10
  doors or we want to have this type of are there any? Are there
• 32:17
  any? Do you have a specifics of like, I know, some people love
• 32:21
  multifamily. And some people like single family, some people
• 32:23
  want to get into commercial, some people try commercial and
• 32:27
  then they go well never do that, again, like Have you guys had
• 32:29
  any of those sorts of discussions and moments that you
• 32:33
  decided that there's anything you just won't do or anything
• 32:36
  you absolutely want to do?
• 32:38
  Unknown: We definitely want to get into multifamily units like
• 32:42
  apartment buildings. We are working on building our network
• 32:46
  enough with enough people to basically form an investment
• 32:51
  group, so to speak, so that we all can go in on it and get an
• 32:55
  apartment building. So we're looking to do that in the
• 32:58
  future. We always see and they're always out there. So I
• 33:00
  don't think they're going anywhere. So we're taking our
• 33:03
  time to make sure we do it with the right team. Yeah. What I
• 33:07
  think I won't do any more probably is tenants
• 33:13
  Davina Frederick: like that at all.
• 33:14
  Unknown: Yeah, we have good tenants now. At the one rental
• 33:19
  property that we have left, and they pay on time, they're sweet
• 33:23
  people, but it's just a lot of work that you have to put into
• 33:27
  being a landlord is a lot. It can be a lot something breaks,
• 33:32
  they're calling you. Somebody can't pay because XYZ happened.
• 33:38
  They're calling you. So you go in you do your walkthrough, like
• 33:41
  you're wanting your walkthrough, there's a hole in the wall and
• 33:43
  no one knows how it got to how it got there. You know, you sent
• 33:46
  invoices. Sometimes they don't it's just too much. And I think
• 33:51
  that the biggest thing for us I when we first got into real
• 33:54
  estate, it would have been better had we hired a hired
• 34:00
  someone to handle the tenants.
• 34:03
  Davina Frederick: Right? i We i from everything that I've read
• 34:05
  and researched of property management, getting that
• 34:09
  property management company and there are some markets where
• 34:12
  it's so cost prohibitive that it doesn't make sense but there are
• 34:14
  other markets where it's a no brainer. Yeah, it definitely
• 34:18
  like a must have especially if you've got multiple places and
• 34:22
  you know all of that do you guys have a certain goal that you've
• 34:28
  set out between the two of us said we've this one we've done
• 34:31
  this? We feel like we've made it?
• 34:34
  Unknown: No, not really. I feel like we're just like, let's do
• 34:38
  it. Let's look at what else can we do? And I'm you know me I am
• 34:43
  very entrepreneurial, spirited. I don't know how this happened
• 34:46
  because I am the biggest scaredy cat you would ever meet. I'm
• 34:49
  scared of everything. I'm like, oh, no, I don't know. But then I
• 34:53
  started like three businesses in one year like a psycho. But
• 34:58
  Davina Frederick: yeah, every time My every time my husband, I
• 35:01
  go to our accountant, he's like, okay, What business did the
• 35:03
  Frederick start this year? What are you guys doing this year?
• 35:07
  But yeah, I do think it's very interesting. Because you are,
• 35:12
  you've said, you know, I'm a talker, and I was asking you how
• 35:14
  you sort of made these contacts. And a lot of it is very much all
• 35:18
  of it is talking to people and not being afraid to pick up the
• 35:21
  phone and say, Hey, I saw this deal. What do you think about
• 35:25
  it? And, you know, that kind of thing, and really sort of
• 35:30
  finding people. And also, I'm sure you've had some people that
• 35:33
  you're like, Yeah, I never want to bring them into my circle.
• 35:37
  Again, you've had to learn that Sure, the hard way. But I find
• 35:41
  that interesting, because you're also I know you because you
• 35:44
  know, you're, you're a member of the art community. And I would
• 35:50
  say that you are really an introvert at heart in that you
• 35:55
  like your, you know, your like your time where you're like, in
• 35:58
  your office doing your work, and you get energy. Like, that's
• 36:02
  more what I think your personality is. But you also
• 36:06
  don't let that stop you from having conversation. You don't
• 36:09
  have fear around that having conversations with people. Where
• 36:12
  do you think that comes from? What do you think that? I mean,
• 36:15
  would you assess yourself the same way?
• 36:17
  Unknown: Yeah, I like to say I am a introverted extrovert. I
• 36:24
  wonder when when it's time, or when I finally like, pick myself
• 36:31
  up to do it. And if I'm that committed to it, I'm talking to
• 36:35
  everybody, I'll talk to my on the side of the road with a sign
• 36:38
  if it's at a time, but then other times, I'm just like,
• 36:43
  Alright, I gotta be by myself. I gotta get this together. I can't
• 36:45
  think I can't see anybody else. I don't want anybody to ask me
• 36:48
  anything. So I've learned over time, and I've recently kind of
• 36:54
  just learned like, the last year or so who I am and what I need
• 36:57
  to do to preserve who I am so that I'm always true to myself.
• 37:02
  So I'm cool with being an introverted extrovert that
• 37:06
  works.
• 37:06
  Davina Frederick: Yeah, the way well, did you ever read Susan
• 37:08
  Kane's book? Quiet?
• 37:11
  Unknown: I haven't. But okay, so
• 37:13
  Davina Frederick: basically cute. Susan Kaye wrote this book
• 37:15
  about introverts is it's an enormous book, and it's about
• 37:20
  being introverted. And she defines introvert introversion
• 37:24
  and extraversion as we get energy from. So introverts get
• 37:29
  energy from being alone. And extroverts get energy from being
• 37:34
  around other people. I find that very, very interesting way. And
• 37:39
  also introverts, just because you're, you get energy from
• 37:43
  being alone, does it mean that you are shy, or socially phobic
• 37:49
  or anything like that, it just means that you need that alone
• 37:51
  time to recharge. I've known some people who are really
• 37:56
  extroverted. And they, they're the people who are always
• 37:59
  throwing the party, their house is always full of people, there
• 38:03
  are people who always want to have people over and be around
• 38:05
  people or go out and be constantly on the go and be
• 38:09
  around people. And it's because they're getting charged, they're
• 38:12
  getting energy from that. And when they're alone, they don't
• 38:16
  get charged. It's the thoughts of their head, drain them or
• 38:19
  whatever, right. So I'm definitely an introvert. And yet
• 38:23
  I love conversations with people, I love to talk to people
• 38:27
  and meet people and pick their brains and all those kinds of
• 38:31
  things. So I think it's very interesting, interesting. There
• 38:34
  are a lot of people out there who have some great networks and
• 38:39
  are not afraid of public speaking or talking to people.
• 38:42
  But you just need that time. You still need that time where it
• 38:45
  like you said, I need to think like I can't think with all this
• 38:48
  distraction around me, you need that time to recharge. And but I
• 38:53
  do think it's really interesting that you also can't be shy about
• 38:57
  talking to people and making those relationships. Have you
• 38:59
  guys gone to any sort of meetups because I know that's a very
• 39:02
  popular sort of thing is real estate meetups.
• 39:05
  Unknown: My husband will he'll do that more. So I tried to
• 39:10
  separate in his heart when you have so many businesses because
• 39:14
  people see your face and they match your face with a business
• 39:17
  or with something that you do. And so I tried to stay behind
• 39:21
  the scenes a lot was real estate because I want to I'm trying to
• 39:25
  promote my law firm right now. And so when people see me, I
• 39:28
  want them to say, oh, that's the guy that means that law firm
• 39:31
  Remember, not all she does real estate because I don't really
• 39:34
  need help that right now. So I kind of I kind of shut out real
• 39:39
  estate and I just worked behind the scenes, let my husband talk
• 39:42
  to all the people and go to all of the things dealing with real
• 39:46
  estate. And then I do things with law.
• 39:50
  Davina Frederick: I'm smiling because I remember I when I
• 39:53
  started my coaching business, I would be I was involved in a
• 39:57
  networking group that I was there as a coach, a business
• 40:02
  coach, and I've worked with different types of businesses at
• 40:04
  that point. And because people when they're networking, they
• 40:08
  don't really want to talk to you about what it is that you do,
• 40:11
  especially if they know that they need you, or they should
• 40:13
  hire you, or whatever they don't really. So when I was when I had
• 40:17
  my have my own business as a lawyer, and I was out networking
• 40:20
  as a lawyer, people didn't really ask me much about
• 40:26
  whatever. But when I was networking as a coach, what they
• 40:28
  would do is Oh, and I said, I'm an attorney. And they would say,
• 40:32
  what kind of law do you practice and they want to go into all
• 40:34
  those details. Because it wasn't the thing that I was there to
• 40:39
  be, you know, networking about, they were trying to find that
• 40:41
  other thing to talk to me about, they were afraid I was gonna
• 40:43
  sell them into coaching or whatever. So it is very
• 40:47
  interesting how people can only put you in a certain bucket in
• 40:51
  their mind, like, there's only one spot you can be in the way
• 40:55
  that, you know, they can identify you. And you see that a
• 41:00
  lot with moms, you know, when moms are involved in things with
• 41:04
  their kids, I've known attorney moms who have gone for years to
• 41:10
  their kids games, and people, the other parents don't even
• 41:14
  know what they do for a living. Because I've said to them, Why
• 41:17
  don't you you know, why don't you, you know, share that with
• 41:20
  other people, because you probably get a lot of business
• 41:21
  that way. And they're Yeah, they don't know, they have no idea
• 41:24
  what I do for a living. So it's really interesting people sort
• 41:27
  of find that way that they know, you know,
• 41:31
  Unknown: it's weird, because I I'm in a lot of mom groups, and
• 41:34
  we go out a lot. And I I've told them what I do. But then I'll
• 41:39
  still get the question like, What do you do again? And? Yeah,
• 41:46
  so it's because and it'll be like you said, it's usually
• 41:51
  people who could probably use your services, not in a negative
• 41:54
  way. But people don't want to seem want to be sold. They don't
• 41:58
  want to seem like they got me. So they try to distract it or
• 42:03
  for distract themselves from it'll just forget about it in
• 42:05
  general. So they don't have to be faced with the fact like,
• 42:08
  okay, she has something that I need.
• 42:11
  Davina Frederick: Yeah, yeah, for sure. For sure. Well, before
• 42:14
  we wrap up, I'd like for you to share maybe, if you were to go
• 42:18
  back to your self, when you started into this, in down this
• 42:23
  journey, this real estate journey. What do you wish you
• 42:26
  had known that, you know, now that you could go back and tell
• 42:29
  yourself
• 42:37
  Unknown: I wish I knew the money wasn't something that needs to
• 42:42
  be afraid of.
• 42:45
  Davina Frederick: Wow,
• 42:46
  Unknown: I was afraid to have too much. I was afraid that I'll
• 42:50
  have too little. And what that did was just created all types
• 42:54
  of other anxiety on top of just anxiety from life. And it
• 42:59
  prohibited me from moving forward in a lot of areas of my
• 43:03
  life. And it also stressed me out like I didn't even look at
• 43:09
  my bank account. There were times where you could you would
• 43:12
  ask somebody to ask me, you can ask me like how much money you
• 43:16
  have in your bank account, I wouldn't know. Because it
• 43:18
  stressed me out whether I had a lot. Or if I had a little bit,
• 43:21
  Davina Frederick: it didn't matter what stressed you out
• 43:24
  about it.
• 43:25
  Unknown: I felt like well, if I had a lot, then I had to figure
• 43:28
  out what I need to do with it. And then I will make the wrong
• 43:31
  decision. And then if I make the wrong decisions, I'm gonna have
• 43:34
  nothing. But then if I had a little bit, it's like, gosh, I
• 43:37
  can't even afford to do what I want. You know? So
• 43:40
  Davina Frederick: it was never it was never something where you
• 43:43
  looked at it, you went off? Perfect. No, yeah. I think
• 43:48
  you're not alone in that. I have a lot of conversations with
• 43:52
  women business owners who don't want to talk when most people
• 43:57
  when they first hire me, they don't know that much about their
• 44:01
  money. Because I asked I asked money questions right from the
• 44:05
  beginning. And they don't know much about their money. And it
• 44:08
  is because there's this sort of fear of looking at it. And I and
• 44:11
  the part of the reason I'm doing this series, is because I know
• 44:14
  there are women out there women law firm owners who are now
• 44:16
  making money in our law firm business. And the next question
• 44:20
  they have to face is, what's next? What else? What do I do
• 44:25
  with this money? Especially if you've grown up in a, you know,
• 44:29
  working class family and you've never had these kinds of
• 44:33
  generational wealth that you're building your house or building?
• 44:36
  There is that question of what do we do with our what do we do
• 44:38
  with our money as we start making it? And in your in your
• 44:47
  case? It's been kind of an interesting journey because you
• 44:52
  guys started out with the goal of making money. But also
• 44:57
  there's fear around that idea of what if we make money? And do
• 45:01
  you think that that stops people from making all that they could
• 45:07
  make?
• 45:08
  Unknown: I think so because you get so wrapped up in your own
• 45:11
  thoughts and emotions and you start to it's almost like
• 45:15
  stifling your growth. It's just like, Well, no, you're thinking,
• 45:20
  now that you shouldn't think about money, I don't want to,
• 45:23
  but you think about it too long. You think about it too hard. You
• 45:26
  put all these hypotheticals in, and then by the time you're done
• 45:31
  thinking about it, you've either talked yourself out of it or
• 45:34
  missed opportunity.
• 45:36
  Davina Frederick: Right, right. Right. That's huge. I think
• 45:38
  that's huge in real estate, as well. You know, because the
• 45:42
  deals, deals are moving fast are coming in, they're going and you
• 45:46
  can very quickly talk yourself out of something because there's
• 45:48
  always there's always good reasons to talk yourself out of
• 45:51
  something. I find the same thing with coaching. People talk
• 45:54
  themselves out of coaching, because they they think too much
• 45:59
  about it instead of you know, just like running the numbers
• 46:02
  because they just don't run the numbers they go well, if I did
• 46:05
  that, well look how much money I'll make back my return on
• 46:07
  investment is you know, you have you ever heard of Grant Cardone?
• 46:13
  Okay, Grant Cardone, he has a book called The 10x rule. And I
• 46:19
  cannot I listen to Audible, I listen to books on audible. So I
• 46:22
  have a hard time listening to Grant Cardone, he's a little too
• 46:25
  enthusiastic for me. But he hit the 10x rule, I have listened to
• 46:31
  a good part of that book, the 10x rule is this idea that we
• 46:35
  don't think big enough. So what if you wrote down your goal,
• 46:39
  let's say, we'll use the example of a million dollar law firm
• 46:43
  business, if I have a five write down that a million, I want to
• 46:46
  make a million dollars a year and my law firm business. And he
• 46:50
  says you should take and you should 10x Whatever it is, that
• 46:55
  is your goal. And so you get the emotional exercise of that, you
• 47:03
  know, why is it that you're only settling for a million dollars a
• 47:06
  year when you can have $10 million a year in your offer
• 47:10
  business. And so we self limit through our limiting beliefs.
• 47:13
  And so he says, apply the 10x rule to everything. So if
• 47:17
  there's something that you are wanting, you're saying, this is
• 47:21
  our goal, let's 10x that and see how that feels. And I think for
• 47:25
  most people, the first time you do that exercise, you're
• 47:28
  freaking out, you're like, I don't like what I do with this,
• 47:31
  I don't even know. And because you can't let the more you play
• 47:35
  around with this kind of exercise, the more you stretch,
• 47:39
  your capacity, your mental and emotional capacity for wealth.
• 47:45
  When you think about that,
• 47:46
  Unknown: I've actually heard of the book. I know someone went to
• 47:49
  a conference not too long ago, a couple years ago, I think before
• 47:52
  COVID. But no one ever. I've never heard anyone explain like
• 47:57
  what the book is about. Now, when I listen to you talk about
• 48:01
  it, it brings up a whole bunch of different emotions for me.
• 48:06
  Well, if you 10 times everything, then it's like
• 48:08
  you'll never have enough, then you'll feel like you're never
• 48:11
  retaining goals. And if you're a person like me, like I got
• 48:15
  across it off that list, like I gotta highlight it and say it's
• 48:19
  done, or I don't know, batch it out, delete it, something has to
• 48:23
  happen for me to know that it's done again, it is not like,
• 48:27
  Davina Frederick: why I said, it's why I set the million
• 48:29
  dollars, like to me a million dollars a year for your business
• 48:33
  is it's that first mental hurdle. I think it's that
• 48:38
  transition from once you realize as a lawyer, you that first time
• 48:43
  you make six figures, you realize that that's really not
• 48:46
  what you're wanting, because most people say I really want a
• 48:49
  six figure income, not six figures in revenue, right? But
• 48:52
  we think to ourselves, I'm gonna make that that's income. No,
• 48:55
  it's not, it's revenue, right? And then your income is $50,000,
• 48:59
  or whatever. And so the reason I set that million dollars out is
• 49:02
  because I think that's the first real hurdle of where you go from
• 49:07
  solo to CEO, where you go from having, you know, your freelance
• 49:13
  business, or your, you know, me doing all the work business, to
• 49:18
  actually to get to a million dollars, you really have to have
• 49:22
  expanded your mental and emotional capacity for wealth,
• 49:25
  and expanded your team and expanded your systems. So it's a
• 49:29
  real growth period, going from that first six figures that you
• 49:33
  made to the million dollars. And then that's why I don't
• 49:38
  introduce those sort of bigger concepts because but my clients
• 49:41
  you've passed over the million dollars. Now we're playing with
• 49:44
  those sort of next steps. But what is so if you got this and
• 49:48
  this is great, and you're getting a lot out of it's what
• 49:50
  you want, and also what else is possible? What else is possible?
• 49:55
  I haven't even consider it that kind of thing. So I do think we
• 49:58
  have to We have to take steps and enjoy the journey along.
• 50:04
  Like it's the money is not in and of itself. The money is
• 50:07
  about the life that you want, whatever that is, you know,
• 50:12
  whether it's not worrying about money. You know, that's what I'm
• 50:16
  waiting for. So sometimes that's the work right, not worrying
• 50:20
  about money. Matera as always, I've enjoyed this conversation
• 50:24
  with you, and I think you've shared you shared a lot of
• 50:26
  information for people who may be considering real estate as an
• 50:31
  investment. I know a lot of people are these days, and, and
• 50:35
  it's gonna be very interesting with the interest rates having
• 50:38
  risen the way they have, if we're going to see that
• 50:42
  contract, or, or if we're going to see the real players just
• 50:45
  keep pushing through or what's going to happen. What are your
• 50:48
  thoughts on that?
• 50:49
  Unknown: Ladder? Thanks. I think it's gonna I don't, you know,
• 50:54
  everybody's like, Oh, I'm waiting, they're waiting for
• 50:56
  that time to buy. But the time is now, because what's going to
• 50:59
  happen is, you know, interest rates are a little higher now.
• 51:02
  But properties are lower. Now, interest rates will go lower,
• 51:06
  and the prices will go higher, we're not going to backtrack. I
• 51:10
  mean, even if we go through a recession, it's not going to be
• 51:13
  forever, eventually, the prices are gonna go, are going to come
• 51:16
  back up. And if you don't have the money now, what makes you
• 51:18
  think you'll have a recession, that makes no sense. So I mean,
• 51:23
  it's
• 51:23
  Davina Frederick: that it's that instead of timing the market,
• 51:25
  it's time in the markets, the same thing in real estate as it
• 51:27
  is stock market, it's the time in it. You know, and, and just
• 51:33
  jumping in with both feet and learning as you go along. That's
• 51:36
  one of the things that about investing. You could read all
• 51:40
  the books, no matter what you're investing in, you could read all
• 51:43
  the books, same thing with your business, owning and starting
• 51:47
  your business, you can read them, but until you're actually
• 51:51
  the clarity doesn't come until after you've taken action. And
• 51:56
  then you've ever learned a lesson or you've you, you know,
• 52:01
  want something or whatever, right? That the clarity comes
• 52:04
  from taking the action, just that consistent action sounds
• 52:07
  like that's what you guys have been doing in your real estate
• 52:10
  business is just acting, and then say, what do we learn from
• 52:13
  that? What do we do next? I mean, it's so fascinating to me
• 52:16
  that your first piece property, you won the bid and then you're
• 52:18
  like, Oh, now I have to go figure it out. It was Yeah,
• 52:23
  wonderful. So how can people get in touch with you if they want
• 52:27
  to connect with you? Or how can they do that?
• 52:31
  Unknown: We can do a few different things. I am on
• 52:34
  Facebook and Instagram. So Instagram it is Cher law firm. I
• 52:41
  went in Facebook is the Sharia law firm. And then you can also
• 52:45
  connect via my website. If you are interested in real estate
• 52:49
  you can make an appointment there's a real estate tab there
• 52:53
  www that the share law firm.com I know it's long but but
• 53:00
  Davina Frederick: well, these will be included in the show
• 53:02
  notes to these links are included. So people it will be
• 53:04
  so difficult for people to find them. So that'll be good. Thanks
• 53:08
  so much for being here. I've enjoyed our conversation. It
• 53:11
  took a little while to get here and I'm glad I finally got you
• 53:13
  in this conversation because I've had so much fun. And thanks
• 53:17
  again.
• 53:17
  Unknown: Thank you