Want to have it all? Well, the best day to get started is today. Welcome to Love Your Living. A podcast for ambitious women who want to take their life and business to a whole new level of success. I’m Brooke Keeling, multiple six-figure business owner, passionate entrepreneur, and your host. Welcome to another episode of the Love Your Living podcast.
Hey everyone, and welcome to the Love Your Living podcast, I am your host Brooke Keeling, excited as always to be here with you.
Now, after embarking just past, this is episode is 101, so the last episode I did was my 100th episode. And I took some time to hopefully give you guys some perspective, maybe you’ve been thinking about doing a podcast, maybe not, maybe you’ve been thinking about starting your dream business, maybe not.
Maybe you’re in a point in your life, which so many people are, times of crisis can create a ripple effect in our life and really allow us to understand and make moves that better our life. Even though may not be the easy route or the most convenient route, or whatever that may be. So I hope you’re finding good in everything that is coming.
I am really trying to see life as glass half full and honestly, I’m in a point right now where a lot of what I’m writing, the content that I’m putting out, the message that I am trying to instill in people, to shake into people is that you can still have your best year yet. And in fact, a couple of weeks ago when I was wrapping up different things and completely overwhelmed and stressed out, and feeling a bit depleted, it was like an epiphany hit me and I decided that 2020 will be my best year yet. And it’s not because I’ve had an incredible six months start.
So if you are someone that’s thinking, yeah sure, yeah great, yeah, good for you, I want you to know that I’m in the trenches with you. And regardless of where I am at, this year will be my best year. So I can’t wait to do my year in review, which is where I got off track with all of this. I love to do years in reviews. And the podcast and review and behind the scenes of a 100 episodes, it truly is the journey that we are all on. And looking back and understanding how far we’ve come, how much we’ve grown, who we were when we first started, who we have become along the way.
And allowing ourselves to see the vision of what is next, so we are here. It is episode 101, and I was sitting here mapping out my next 30 days. I have been taking goal setting a little bit closer to timeframes. So I’m big on goal setting for a year. A lot of us have even forgotten about what the goals were that we set at the beginning of 2020. But there’s still possibility, like I just said, and reaching what those goals are.
And a lot of us have had to pivot. Man, oh man, oh man, I have been telling my clients, my sustained group that we’re running right now, “There is no better time than right now to be in business to learn these lessons.” To understand that these lessons, life is making you stronger and it is making you such a smarter businessperson. I started my real estate business after the last recession. And going into the online world just a couple of years ago, and still in massive growth mode, it’s a constant pivot.
And so these times, they allow us to grow massively if we allow ourselves to also get on the right track with that, and in the right mindset with that and see things slightly differently. So with goal setting, rather than going back to the beginning of the year and saying, “Well, I have no chance at hitting this.” Or even quarterly, I always break my goals down quarterly, I love goal setting, it’s one of my favorite things to do. But this year has panned out a little different, like so many of us have encountered so far.
And so what I’ve highly recommended my community, and my clients, and my team to do is goal set for 30 days. Don’t look out six months, don’t try to predict six months, 30 days, what can you do in 30 days? And it allows you to take massive action in those 30 days and get super, super, super clear on what needs to get done. Because the reality of things is you may think that 30 days is a long time. But I’m here to tell you, 30 days is like blink of an eye and it is gone.
I feel like my life every single year with more businesses, with more children, with more responsibilities on my plate, the weeks just fly by. So map out your next 30 days.
And that’s what I was just working on, I was sitting here working on my next 30 days and figuring out, alright, within my businesses what needs to happen in 30 days? What does my business need from me right now over the next 30 days? Because what it needs from me in the next 30 days is very different than what it needs from me in 60 days, 90 days, 120 days, six months from now.
So what do my businesses need? Getting laser focused and then creating a plan around that and mapping it out. So, scheduling things out, scheduling launches out, scheduling whatever I need to schedule out, content, everything scheduled out.
The other thing with creating a 30 day plan is that right now we are doing a constant pivot. So I felt like I’ve gotten really good at batching content and being able to have, and I actually love it now, because it allows to get into a creative space. So getting in the groove of creating and having creativity flowing through your work and it allows you just kind of be in that and write, and so many ideas come during that time. And it’s just like a bit of an eye-opener also in terms of what your businesses need.
But it’s really, really difficult right now because things are changing and we are kind of like in reaction mode versus action mode. So rather than getting so far caught up, it’s like every day we’re reacting to something in the world and having to pivot. And maybe something that we have batched out or launched that we had scheduled for two weeks, or three weeks, or a month from now, we have to switch gears.
We need to change the messaging. We need to put thought into what emails are going out and when so that it can be relevant to what is happening. Always stay awake. Always stay conscious to what is happening and what your people need, what your audience needs.
So as I’m sitting here writing this, I of course have had a lot happening in the past six months and it has been challenging, it has been hard, it has allowed me to grow. But I feel so ready, I feel like I have been an onion that all of the layers have peeled back and it’s now time to go to that next level. It’s now time to say yes to step up, to have the energy, the mental capacity to move into a new direction.
And one of the things that I thought would be super, super fun to talk about a bit today, because I tend to have so much interest in some of the different things that I do within my real estate business, is I’m going to share with you guys, some of my biggest learning lessons with doing my first flip, my first big flip. And that first big flip happened to be the home that I am sitting in right now. And I talked about this in the past. I have a real estate business I have ran for nine years.
We have our online coaching business where we help other entrepreneurs scale and grow their businesses, make money online, have that online pillar. And then we also have our investment business. And a lot of our investment business it’s super fun and it’s exciting, and it’s been a really fun business. We started this about a year and a half ago.
And right now my 30 day goal is to really hit that business super hard. It’s the timing is right on it, our economy is bouncing back. There are so many statistics and study and forecasts and data that is proving that the real estate industry is going to be one of the leaders in the economic bounce back and the economic recovery from this recession, from this pandemic, from where we are at right now.
So, many of you have thought about getting in real estate, have reached out to me regarding real estate, have been curious about what I’m doing, how I’m doing flips, how I’m doing investment properties. Is now a good time to get into the real estate business? And I would have to say that, yes, there is an incredible amount of opportunity, but there’s also some really good things to know about too. So if that is you in your thinking or you’re concerned, book a call with me.
I love talking with people about goals and also about business, that’s one of the things that I love so much. And it’s so cool to watch my community and people that I have conversations with kind of take that deep dive, and that risk, and that chance. And then I’m able to watch them grow in that industry as well. So if you do have questions about real estate, getting into real estate, I’m not going to get into a lot of that today. But book a strategy call with me and I’m more than happy to discuss opportunities and answer any questions that you might have.
So this big renovation, what I learned, we bought the current house that we are in with the intention of flipping it, with the intention of living in it while I fixed it up and then selling it for a profit within a year or within two years. Now, listen, I’m an expert in this area, this is what I help my clients do. And sometimes – sometimes this is why coaches are so, so incredibly powerful. Now, I’m stubborn as hell sometimes, and my coaches know this, you have to be coachable as well.
Sometimes we need to learn to take our own advice and I’m learning that more and more. Oftentimes with my clients now, with my team, I’m coaching them on something and then I see the same thing coming up in my world and in my life. And it’s been like these awakening moments where I’m like, “Oh shit, I need to take my own advice, that’s really good advice, I need to actually do it.” So it’s the actual doing part of that too.
So with investment properties, with flip properties we are going to be seeing a lot of opportunity coming into here to build wealth. And one of my team members actually was just saying that her and her husband are actually very interested. She works side by side with me in a couple of my businesses and she was saying, “I understand.” This is powerful, I want you guys to all really listen to this and think about this, because this is true in any area of your life.
If you are wanting to build wealth, if you are wanting something different, if you are wanting to achieve that big crazy goal of yours, that dream life, it is going to take risk. You are going to have to get uncomfortable. And when I say that a lot of times people get really turned off by fear. So the first step in this is just analyzing.
There’s nothing wrong with being scared, and honestly, embracing fear and allowing it to come in, and allowing yourself to feel it and making space for it, allowing yourself to get bigger in its presence. And ground yourself so that you can make decisions, you can make smart decisions, not from a place a fear, but understanding that, okay, this is my ego, this is my inner being. This is my mind trying to protect me, my brain and I know that this is scary, and I know this is something that I’ve never done.
But here are some of the facts, here’s what could be true to this. Because those are some of the greatest growth opportunities, and this is why so many people don’t end up creating the lives that they want, and building the wealth that they want, because they’re stuck in fear. So understanding where you fall in the buckets of risk, my husband does this with his clients and this team member’s actually a client of my husband’s.
And so she said, “When I’m analyzing what bucket I fall in, in terms of risk assessment and being a risk taker it’s I don’t like risk. I like to be comfortable. But what I’ve realized is where our world is going and likely where it will continue to go for a few years at least.” She said, “I get that the rich are going to get richer and the middle class is going to kind of be wiped out, and the poor are going to get poorer, so we have to create opportunities for ourselves.”
Understanding that, being awake to that and knowing that there is a ton of opportunity out there, we just need help mapping it out and understanding what are the best opportunities for us. And really truly understanding what our goals are believing in our goals, and committing to achieving those goals, never giving up on those goals, because it’s going to be scary and it’s going to be hard.
So when looking at investment properties, real estate, I was just reading statistics, real estate is still the number one wealth builder in the United States. I think it might be even worldwide too. But people are perceiving it still and it still is your highest return on investment.
So what does that mean for you? If you’re still renting it’s a really good time to start looking at rent money is spent money. Where can you invest money? What are some of the options? Having conversations with people, getting yourself educated, speaking to a lender, talking to someone like myself. Getting yourself in a position, knowing, you know, or speaking to a financial advisor, mapping out what it is that you need so that you know, that you’re aware so you can start working towards something, so you can start visualizing something.
But also purchasing properties, buying and holding, it’s one avenue that you can go, huge tax advantages there. And flipping properties, which everybody – I mean since Joanna and Chip of course, everybody has been just thinking, oh my gosh, I want to get into flips, I want to get into purchasing properties, fixing them up.
But here’s the thing, sometimes it’s not as fun as what we think of just going in and making something pretty. So we have to understand what the cost is. You have to understand what are your costs to fix up a property. And this is where I see so many people lose a lot of money is not understanding what something truly is going to cost.
So I can go into a property and I can pretty clearly be able to see and understand how much it’s going to take to fix up different areas, or are there any major concerns, are there structural concerns? You have to have an allotment for surprises that come up as well because that can eat away your profit so quick. If you open up a wall and realize, hey, I have to put a structural beam in. Or, hey, the foundation is cracking. Or we have water in the basement, I need to get a basement repair company out. Different things like that will eat up your budget so, so, so quickly.
So of course there’s things to look at there. But in my world what I talk about all the time is what’s the cost to renovate, basically? What can you sell the property for? So what is the current market going for? Does that make sense, say you have to put a 100 grand into a property, what number are you selling it for that’s going to allow you a return on your investment?
Because even with where the market is at right now, which is a very strong market and we’re anticipating that appreciation rates are going to continue likely at a 3% appreciation rate over the next six months, if not, the next year and a half. But with that we can’t just make up a number. We can’t just say, “I want this number.” Believe me, I have plenty of sellers that think that they can just make up a number because there’s not enough properties and it’s all supply and demand. You have to be smart about what that neighborhood is actually going to support in terms of pricing as well.
So, knowing what you need to put into it, knowing what you can sell it for. And the last piece of this puzzle is your timing and your cost to sell. But the timing, how long is it going to take you to do this? And within that time, what are those costs? What are your holding costs going to be? Those are your sale costs. So all of these need to be factored in and if you miss one element of this you could very easily be losing money.
And so with my property, I bought it thinking alright, great neighborhood, incredible neighborhood, I have one of the highest valued homes in my entire market literally across the street from me. It’s in a great school district. It’s in a great location. I knew that I could come in, it had good bones, really good bones, new roof, some new exterior elements, didn’t need a lot of big things renovated. And so it was mostly cosmetic and I can visualize what the cosmetic is and was.
Now, I was pretty much right on with what it was going to cost me to renovate. Here’s the kicker though, what I didn’t factor in, costs and labor, I kind of figured that out, I understood that. But I used a builder, a contractor that used their own subs. So that added a massive amount to my budget that I wasn’t allocating in.
So a lot of times when people are doing flip properties, a lot of our investors that I work with personally, they have their own teams, they’re contracting it out, which can be a full-time job in and of itself, which it is for my builder, for the scope of this project. I did not have the time to bring one – work on the timing and the schedule of everything because it’s complicated. The demo needs to happen here, but the paint needs to happen in between this, the plumber needs to come here first and do this, this, this and then come back here before this person can come back.
It literally was a full-time job for three and a half months, something that I could not take on, on my own. And I knew that, I wasn’t trying to do it on my own. But I didn’t factor in the amount of money that it was going to cost me to hire that all out. Now, did it break me in terms of value? Absolutely not, I didn’t come out of this thinking, well, I just screwed myself, or I just lost a $100,000 or $50,000 or whatever it is. But the project itself was a massive project, and understanding the timing of it as well, when you’re coming in, when you’re changing things up, there’s so much that’s involved.
I am someone that thinks they can come in and have everything done in 30 days, everything’s done, 60 days, I’m living in this. This project has literally been a year and a half. It’s been a year and a half of trying to do some of the demo on my own, which we saved a lot of money on demo costs, plans and details. That was a big deal too, there’s a lot of revisions that need to happen, a lot of things that we need to look into to see if they were even possibilities. Timing of life of course is a big thing too, what is your capacity?
There are a billion decisions that you need to make when you’re building or you’re renovating. Even when you hire it out you still have to make all of those decisions. So, timing, timing of when I was having a baby, timing of all of the things in life and business, the financial aspect of things, and then actually living through it. If you are going through a massive renovation, we gutted our entire first floor – our entire first floor, and half of our second floor.
So my ‘plan’ for this was that I was going to live here with a newborn baby, three animals, a toddler and we had our basement set up. Well, setting up a basement while you are demoing floors upstairs and doing install work, it’s incredibly loud, it’s incredibly dusty. It’s so invasive. There are so many things going on that was really, really difficult to live here.
So one of the things that my husband and I said is, “If we ever did this again we absolutely would not live in a property while we were trying to do it.” And my builder tried to tell me this, but this is my stubbornness coming in. And I was like, “No, I’m not moving.” I saw it as moving all the animals, moving the baby, setting up another additional cost, and not to mention, we got our building permit two days before they stopped issuing building permits because of Covid-19. So we are very, very lucky that our project did not get pushed and we are not just starting right now, but we’re actually back in a home that we can be settled in.
It was extremely disruptive, it was disruptive to my businesses, it was disruptive my life. It was disruptive all around, I feel like three and a half months gone in the blink of an eye. Where did my baby go? Picking up the pieces of all of the things behind, so it was just so much work. And not just for me, I felt bad for my nanny, I was like, “Oh my gosh, please, please don’t quit.” Every day coming into this crazy madness, and my team was so incredible after supporting me through maternity leave, had to deal with me going through this type of a renovation. It was just such an eye-opener.
And one of the things that I say is if you haven’t watched the Beyoncé documentary, the most recent one, the Coachella I believe it is. It is amazing. And one of the things that she says in there is that she pushed her body to the max. She’s taken on big goals in the past, she said yes to things and she’s figured them out along the way. We always figure them out, we always come out of the other side. We always figure them out. But she said, “I pushed myself to my limit to a max that I don’t ever want to go back to.”
And that’s kind of how I feel, I feel like I pushed myself to the absolute max and to a max that I don’t ever want to go back to, so coming back to a new normal. What happened with this house too is we fell in love with it. We fell in love with the space, we fell in love with the location. We fell in love with all that it is being. And I started renovating it with my heart versus numbers and strategy in my mind of what I would sell it for as a flip.
So at this point, the numbers, if someone came and it would have to be an exorbitant amount of money for me to move and go through that again. Just for the pure sake of living in a functioning house again and feeling settled and feeling supported. And having your surroundings set up to inspire you. This was something that I’ll probably do a whole another podcast on you guys.
But I am telling you right now it was such an eye-opener to see from my three and a half year old daughter, seeing how much your surroundings impact your mental capacity, your mood, your happiness. It was unbelievable seeing through her eyes how it was affecting her just in her day-to-day, the people in our house and the mess every single day. And not being able to play in different areas, and the noise and the disruption, there was so much. It disrupted my three and a half year old beyond what I could have even imagined.
But what it did in life and business too is just such a game changer, and how we are eating, the food that we we’re putting in our body. What we are seeing every single day, what we are waking up to, how our life, how our world is supporting our bigger dreams.
So if you are in place right now and you feel messy, if you feel like your house is an absolute disaster, if you have things there torn up around you, if things are displaced, take some time and set yourself up for success. Your surroundings are so incredibly powerful. Filling your house up, filling your office up with things that inspire you, that make you smile, that make you feel differently will make you show up differently and see and view your goals differently as well. It’s an instant, instant mood changer that I’ve talked about as well.
So you guys, before you dive into any flips, I am your girl, I want to talk to you. I will tell you all of the things that I have learned experiencing this and living through this. Even though I’m in real estate, even though I work with investors, even though this is my jam, this is what I do in so many areas. It was a massive area for growth, absolutely, a huge learning lesson. And I’m very, very grateful for it all of it, I don’t regret any of it.
I’ve learned so much that I can now pass along and teach other people. And speak on such a higher level, especially in our investment business. There’s so many moving pieces, there’s so many learning lessons that have been incredible, incredible gifts for me. And I will never again live through a construction, like I said before. However, what I’m beyond excited for is to start taking on more of these properties and more of these projects, and more investment opportunities outside of what my home is. I’m really excited for that.
And again, there’s so much opportunity out there right now, we’re going to see a lot of properties hitting the market. Our inventory is incredibly low across the nation, inventory is low, demand is incredibly high. We saw some of the lowest months of new inventory come on in March and April. Our inventory at least for new properties coming on the market was down anywhere from 32 to 37%, which is a big deal when that’s our spring market, that’s our busy, busy time. And now we’re starting to see that increase. However, there’s still a lack in supply and demand.
And also within our investment business too, people need money. And those are the types of properties that we seek out, are properties that are paid out or they don’t have a mortgage on them, or a very small mortgage on them. And people can cash out of them and have money in their pocket within a week, within two weeks, they’re able to just leave the property. And we can go in and start working through it and gutting it and fixing it up and putting it back on the market, or holding it as a rental property as well.
So there’s going to be a ton of opportunity. Again, whether you maybe have thought about dabbling in investment properties, maybe you have thought about getting into real estate. I get that question a lot, “Can I do this part-time? Can I do this as a side gig?” Real estate has a ton of opportunity and it’s going to continue to have a ton of opportunity over the next six months, the next year, even some of the forecasts that I’m seeing for 2022.
So if you have questions about real estate, if you’re in real estate and you’re looking for a coach, I coach real estate agents. I have a top producing team in my marketplace. I have an investment business in my marketplace, and we’re continuously growing. We’re actually scaling both of those right now, investing in them heavily, and for very, very, very good reason.
Also if you maybe are an agent or a business owner, this is the same thing in any business. But I think it’s magnified to me and it’s why I can help coach people that are looking to scale their business in terms of hiring and building out a team. In real estate it’s kind of like you always have this monkey on your back, that’s kind of how it’s presented, you want to be busy, you want to be successful, you want to make a lot of money. And there’s so much opportunity to do that.
But real estate can consume you really quickly. It’s not an industry that usually has business hours for most people. And that’s something that I have grown and built out, where I work seven to four, I don’t work nights, I don’t work weekends. I have a phenomenal team that works and supports me. We’re a top producing team.
So if you’re looking at scaling your business in any capacity, if you’re wondering if now is the right time. I’m telling you it is. Book a call with me if I haven’t chatted with you already. I am loving these conversations that I’m having about where people might think that they’re blocked. Or where they might think that they’re not scaling, or where they think because of the current state of the world, because of the coronavirus, because of the election year, now is not the time, or whatever excuses you’re having and not making the money that you want to make in your business.
I want to have those conversations with you and figure out how we can get you on the other side of that. Because there’s a lot of opportunity and it’s time to really ride those waves. We’re not going to flip a switch, we’re not going to go back to easy breezy, even in our real estate business, it’s having different objections, it’s people, job losses, getting through financing, getting through underwriting. Investors that have a lot of money in the stock market that pulled out of transactions. There is a lot of moving pieces and I promise you this is not going to change any time soon.
We have an election coming up in November, it’s going to be a whole another mix of emotions and pivoting, and refocus for a lot of people in their businesses. So self-care, huge, talking a lot about that, take care of yourself, fill yourself up. Get your surroundings feeling really good, figure out what it is that you need to be supported in. Do those things, fill yourself up and I promise you will start to see, if you can’t see it right now, you’re going to start to see opportunity all around you.
So start focusing on the good, start focusing on why you can, why you will, why now is a good time, what the opportunity is and the floodgates are going to start opening up for you. It’s a shift in your mindset, it’s a shift in your confidence, it’s a decision that you are making for yourself.
So again, if you’re having a hard time, if you don’t have a business coach, if you don’t have an accountability partner, if you don’t have someone besides your spouse that you can talk to about these things, book a call with me. I want to chat with you and understand why maybe what you’re thinking or what you’re doing with those excuses, maybe, are probably not the things that are actually holding you back. And we can uncover those, that you can really take your life, your business, you bank account to the next level.
So I hope you guys enjoyed this episode, I’m feeling new life, being back in a new space. And I always love to hear from you guys, what are your struggles? What are your pain points? What are you concerned about? Where are your fears? So that I can talk on them and I can shine some light on them so that you cannot allow them to hold you back in terms of what you are capable of. So make 2020 your – commit to this with me – 2020 is going to be the best year yet, financially and just in life, whatever it is that you’re really, really, really craving, let’s go get it.
Alright guys, thank you so much for tuning in, I loved chatting with you today and can’t wait to hear from you, talk to you, book your call, connect with you. And I will see you next time.
To team up with me to grow and scale your business to multiple six figures and seven figures while creating a life that you absolutely love. Head on over to LoveYourLivingOnline.com/application. I want to hear from you. I want to hear your goals, your dreams, your aspirations, and how I can help get you there. LoveYourLivingOnline.com/application. You can also check out this link in the show notes. I cannot wait to hear from you.