Episode No. 100

Failing Your Way to Fortune: What 100 Episodes Taught Us About Building Wealth Despite Setbacks

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Episode No. 100

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SHOW NOTES

The Share Wealth Show is celebrating its 100th Episode! 🎉 🥂 Let’s join in celebrating with Nicole Pendergrass as she embarks on this milestone! In this episode, she highlights the importance of resilience in achieving any goal, especially wealth building. She also acknowledges the high failure rate of podcasts and shares personal setbacks faced in the past year, including family health issues, business troubles, and market downturns.

The episode dives into what resilience is and offers practical strategies to develop it, such as:

💪🏾 Embracing a growth mindset and viewing failures as learning opportunities  

👥 Building a supportive network of mentors and peers  

📋 Setting realistic goals and breaking them down into manageable steps  

🧘🏾‍♀️ Practicing mindfulness through techniques like journaling and meditation  

🔄The importance of adaptability and taking calculated risks is highlighted, along with the need for self-compassion and patience. 

 

🎧 Buckle up for a dose of inspiration! We’re talking resilience and celebrating every win on your wealth-building journey.

 

Nicole Pendergrass is a wife, mom of two young daughters, full-time employee, multifamily investor, and generational wealth advocate. She started her real estate journey with no money, no credit, no connections, and after a few unsuccessful ventures, got her footing with a 3 family house-hack. She grew that first property into ownership in multiple multifamily projects and is now on a mission to help others do the same. She founded Noirvest Holdings, a private equity REI firm, to help minorities, women and other overlooked individuals build wealth through increasing access to “privileged” multifamily investments. She is also the founder of Microfamily Mavericks, a mentorship program designed to help people of color learn to invest in small multifamily properties as the stepping stone to building a portfolio that will unlock the freedom they deserve.

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Key Quotes:

“A setback is not a loss. It’s not a failure until you quit.” – Nicole Pendergrass

 

“Pivoting is being open and mindful about your situation and figuring out what you’re going to do to make the situation turn around ” – Nicole Pendergrass

 

Link to Brianna’s and Tyrell’s episodes: 

https://youtu.be/TDNtAS7Npwk?si=UqG3VV4TYciasE49

https://youtu.be/S6mxV4Cgnjc?si=Nq2bLyqorpJflr5v

 

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Let’s get connected! 

You can find Nicole on 

LinkedIn https://www.linkedin.com/in/nicole-pendergrass/

Instagram https://www.instagram.com/nvestornikki/?hl=en

Facebook https://www.facebook.com/nvestornikki

or Visit her website https://noirvestholdings.com 

 

Transcript

[00:00:00 – 00:00:37] – Nicole Pendergrass (Noirvest Holdings)

Building wealth is all about having the long journey and looking out to the future, and for something that’s going to happen in 10 or 20 years, and that’s very hard to see. But you have to start whatever endeavor that you’re focusing on. You have to start that with the mindset that this is gonna take at least a couple of years at the foundation, right? And then you’re gonna start seeing some growth. And that growth can sometimes be slow, right? And it’s not gonna get you to where you’re imagining it, where you wanna be as quick as you think is going to get you there, or as quick as you would like it to get you there.

 

[00:00:38 – 00:01:12] – Intro

Welcome to the Share the Wealth Show, where minority professionals can learn to escape the racial wealth gap and catapult themselves into abundance. Your host, Nicole Pendergrass, grew her net worth from being negative to multiple six figures. Join her on her investigative mission to expose secret strategies of the wealthy so we can all have the tools needed to build the life and legacy we were created to possess. Now it’s time for the show.

 

[00:01:13 – 00:04:29] – Nicole Pendergrass (Noirvest Holdings)

Welcome back everyone for another episode of the share the wealth show. And if you’ve been with us for any amount of time. Now you know that this is the show where we discuss strategies on how to build, grow and protect minority wealth. Today I’m coming to you, solo, because it’s a very like hugely momentous and very special significant occasion. I am super super excited that we are publishing our 100th episode. This is the 100th episode. I cannot believe this.

We started this journey 2 years ago in May of 2022, and I can’t believe 2 years has passed so quickly. There’s been so many ups and downs that have happened during that time period, and the fact that we finally got to 100 episodes. It kind of just happened too quickly. Not really too quickly. But you know what I mean. It came up way before I was actually ready for it.

So, to be completely honest. Today’s episode was supposed to be part 2 from another guest episode that we had cause. You know that we normally do 2 partners with our episodes. But then, I decided, you know what I need to come to you guys and speak to you and really pour into you and tell you all about what’s been going on in my life. In behind the scenes, in the journey of still keeping this podcast moving forward and it’s been difficult. And there’s been plenty of times where we almost had to call it kaputs. And I’m fighting. And I’m holding on because I get comments and feedback from you guys that you just are really appreciative of the guests that I bring on, and the content that I have here. And it really is opening up your eyes and your minds to possibilities that you may not have known we’re there, or it just helps give you some feedback and insight.

And so, I just know that there’s a need for this podcast in the space. And I want to keep it here. It’s a labor of love. And I’m doing it for you guys. So, let’s get started with today’s episode. I actually in preparation for today. Looked up a couple of stats, on the longevity of podcasts, especially given our topic for today, our topic is basically centered around resilience. Right? How I’m gonna start this off podcast in looking this up. This is so shocking to me. And I still just I can’t believe it. I don’t understand. And maybe I do. I get that people start journeys, thinking that they are gonna be a little bit easier than it ends up being. And maybe your why isn’t strong enough, or you’re not in a position to really just tough it out right? Maybe that the reason why you wanted to do a certain activity it’s not strong enough to keep you in the game.

 

[00:04:30 – 00:06:38] – Nicole Pendergrass (Noirvest Holdings)

So, 90% of podcasts. you ready? We don’t publish more than 3 episodes. 3, the number 3, 1, 2, 3. Are you serious? 90%. That’s a huge amount. Another stat. 3 out of 3 million podcasts available only a 156,000 make it past 10 episodes. I did the math on that. So that’s about 5%. So, you’re getting about 5% of all podcasts even make it to 10 episodes. And the other one is the chance of a new podcast failing is 95%.

Now that’s insane. I looked up some numbers on 2024, just to make sure is accurate about how many podcasts are available as of 2024. I see a couple of different stats, one says, 5 million podcasts globally and then another one says 3.2 million, as of February 2024. So, it’s all around that same, that same mark, right? But in any case, these percentages are staggering and I’m just so grateful that I have your support that you come back and you continue to listen, and you just give me the drive to continue pushing forward because, I know that it’s helping someone out there. Right? So, I’m so so thankful for you continuing to return to this show, to this podcast and to listen to the guests that I’m curating to come on and share fantastical stories with you and not fantastical, and that they’re made up. But you know, stuff that’s almost unbelievable sometimes because it’s just so out of the realm of what the normal, everyday person does. And I that’s what I want to expose you to is to just possibilities. I want your mind to be open to possibilities.

 

[00:06:39 – 00:08:46] – Nicole Pendergrass (Noirvest Holdings)

So. firstly, I want to thank you so much for helping us reach 100 episodes. I also want to say if you if you’re listening to this episode, but you have not yet liked or subscribed or rated the show and any of the platforms where you follow us, whether that’s YouTube apple, Spotify whatever listening platform you listen to us on. Or if you watch us on YouTube, just go ahead and give us show us some love. Give us a rating, a review, but be honest. But I want that to help other people find us right, because the more of you who rate review like an episode like the Channel, follow us. That pushes us up in the algorithm to show us to other people who are listening to similar type content right? And that just helps the word of the show. And the guests that we have on, and the whole mindset shift that we’re trying to encourage here, especially within the minority community. It helps us progress and just make a bigger next. for us and for us by us, right? But in the podcasting space. okay,

I also want to say with these staggering with this staggering kind of stats that I looked up is the other thing for me is not, is coupled with the passion I have for this topic matter, and getting this information to my people, and to other minorities in the space who are looking for an answer. I also just happen to have like thick skin, and I don’t like to quit even when the going gets tough, and it, trust me, gets tough. I just have to keep pushing through, and if there’s ever a time when I need to kind of revamp, then I end up pivoting or trying to brainstorm and come up with ideas to still make it happen and still make it work. That’s not just in the podcasting space that’s in anything that you want to do in life, any of your goals, your dreams, wealth, building endeavors, any of that. It’s all applicable.

 

[00:08:47 – 00:09:59] – Nicole Pendergrass (Noirvest Holdings)

So, what I wanna do now, since we’re talking about resilience. I looked up the definition and resilience as defined by the Oxford Language Dictionary is the capacity to withstand or to recover quickly from difficulties, toughness. The ability of a substance or object to spring back into shape. Elasticity. So, resilience is not about things being easy. You, floating by resilience is all about facing tough times and snapping back in the shape, getting back to the tasks at hand, getting back to your goal and continuing to push forward. Re.

It’s not that you don’t get knocked down. Everyone gets knocked down, but it’s are you able to recover? How many times do you get back up, not how many times you get knocked down. That is resilience, right? And I guess a lot of people, the podcasters who are starting podcasts and not getting past 3 episodes or not getting past 10 episodes. Maybe they’re going into it for the wrong reasons, and are not ready for the long haul and for the long journey.

 

[00:10:00 – 00:11:39] – Ad1

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[00:11:40 – 00:13:48] – Nicole Pendergrass (Noirvest Holdings)

Let me tell you something. If you are not ready for a long journey you will never build wealth. Building wealth is all about having the long journey and looking out to the future, and for something that’s going to happen in 10 or 20 years, and that’s very hard to see. But you have to start whatever endeavor that you’re focusing on. You have to start that with the mindset that this is gonna take at least a couple of years at the foundation, right? And then you’re gonna start seeing some growth. And that growth can sometimes be slow, right? And it’s not gonna get you to where you’re imagining it, where you wanna be as quick as you think is going to get you there, or as quick as you would like it to get you there.

So, one of the other things in like anybody’s wealth building journey. There’s a lot of setbacks that could happen. It could be anything. It could be downturns in the market. It could be business failures; it could be bad partnerships. It could be personal family crises and situations, and actually out of those all, every single one of those is something that I have experienced a piece of over the past 6 to 12 months. This past year, especially, the most recent past 6 months has been extremely hard time for me, primarily, personally. So, there’s a lot of little things I’ll touch on them. But behind the scenes since January, we’ve still been releasing episodes. I’ve still been interviewing guests. I’ve still been doing all the actions that I. I’ve needed to do in my entrepreneurial endeavors and my real estate, investing and in my podcast hosting and creation and making sure that this show can live on right, and I don’t want it to fall into the rubble, and I’ve made some tweaks and pivots to make sure that we can still be sustainable until we get to that next level where we can get back to our regular groove.

 

[00:13:49 – 00:16:20] – Nicole Pendergrass (Noirvest Holdings)

But the 1st thing I wanna say is one of the things that we’ve been that I’ve been going through. I’ll say we because my family, one of the big things we’ve been having family health journey. My daughter’s been going through something where we’ve been in and out of the hospital since New Year’s Eve, New Year’s Eve. We actually went into the hospital, stayed the entire 1st week of the New Year as inpatients in the hospital. Well, my daughter was inpatient, and I stayed there the entire week with her right and then over the next couple of months. It was a lot of in and out of the hospital emergency appointments, er visits, trying to figure out what was wrong and what was going on, and why she was having certain issues. And we finally did get an answer. And this answer is a lifelong situation that we now have to learn how to live with and how to make this our new normal and how to be strong as parents, my husband and myself, and he’s been fantastic throughout this entire time. He’s really taken this situation by the reins, and it’s been controlling it and making sure that everything is staying in alignment.

But between us, being parents and trying to finagle hand, have helping our daughter through these situations, we’re also trying to stay strong for her so that she doesn’t get upset, and she doesn’t have anxiety, and she doesn’t have breakdowns and crying and saying, you know, why is this happening? Right. So, I will say this. Just so. Everyone’s minds aren’t like running crazy with what it is. It is something that is very common. There are millions of people with this. It’s not a rare medical situation, and that’s the save and grace, and that’s the lining, the silver lining to the cloud that you have to take away from it, or that we have taken away from it that we have resources. There’s been a lot of research and progress for this particular situation over the years. And we just happen to be getting in in a time where it’s I feel like hitting a curve with the type of technology and advances that are available to us now. So, I actually feel blessed for it happening the way that it happened. And now in the timeframe that it happened because it could have been completely different. This could have been better, could have been worse. There’s all these could have shit of what is.

 

[00:16:21 – 00:18:34] – Nicole Pendergrass (Noirvest Holdings)

But in any case, dealing with that personal situation actually made me sit back and think about what was really important in life. Right? I already was having that that tug of war in that pool when you’re trying to build a business and you have a job. And you have young kids, and you wanna be there for your young kids. But you also wanna build enough wealth so that when your kids are in school you can be free to go to their activities and their extracurriculars, and go to their plays and not be stuck at work behind the desk because you don’t have any more time off. And all of those things, right? So, it’s like weighing the 2 sides of that coin. Do you build wealth now? So that at some point in the future hopefully, near future. You’re able to make it to those events, you know, with your children, or do you postpone it so that you can be with them as much as you can while they’re still young, and they still want you around right? Because we know that that has a time limit when they get a little bit older, they don’t wanna be around Mom and dad, because that’s seen as Corny or Boring, or whatever right.

But in any case. That’s just the thing that I was already struggling with, and now with her health concerns, it was tugging at me even more, and I fell off the radar pretty hard earlier this year. And actually, it’s been very difficult big getting back on the horse. And I will admit that as far as like my social media posting and just my activity levels going to meet ups, virtual meetups and even classes, and being involved and having my networking and conversations, and all that stuff that I would normally do on a consistent basis really took a severe hit. And I was fine with that, because I needed time and space to kind of regroup and to be there for my daughter, and to learn all these new things that we need to do while we’re at home, right? So that’s 1 thing that has really affected my journey so far this year. And I say that just to share my next steps and all the other issues that have been happening and how I’m continuing to push through. So, hang in there with me. Right?

 

[00:18:35 – 00:20:03] – Nicole Pendergrass (Noirvest Holdings)

So, the other thing. If you guys have been following me or listen to a few previous episodes. I had the past with Brianna and she is the host of a car that I purchased specifically to be on Turro. So, I was jumping into the Turro business, right? And I will link to the podcast episode with Brianna. below is Brianna and Tyro. But I’ll link to that in the show notes.

But in any case, we started this tour. I went all around the world, not the world, but the Bronx, and leaving work early and trying to go to this car dealership and go into this car dealership and sitting there for hours, and if you’ve ever been to a car dealership, you know how crazy that can be. But I finally got my car for Turro right and like November of last year. So, I’ve had that on the platform for about 6 months now, and it is not performing the way that we project it by far. We have been brainstorming some ideas of like how to get bookings up. but right now, this feels like a dud. I am already, I said. I have thick skin, and I’m in for the long haul. But with this tural car I’m thinking maybe this was a mistake. Maybe this is one of the things, because I wanted to build a fleet of like 3 to 5 cars.

 

[00:20:04 – 00:20:36] – Ad2

Are you enjoying this episode? Then stop what you’re doing right now. Head over to Apple podcasts and leave us a rating and review. It really helps our show get pushed to more people who are looking for the information that we’re sharing here. We have to share the wealth. If you listen to us on YouTube, make sure you like the episode that you’re listening to right now and subscribe to our channel, then share the channel with somebody else. There are people out there looking for the information you’re listening to right now. So make sure you share it with someone who you know needs it. Now back to the show.

 

[00:20:37 – 00:22:20] – Nicole Pendergrass (Noirvest Holdings)

But I don’t wanna get a second car until I can see that this car, we’ve figured out the strategy to get this car. Very profitable. So right now, it’s floating, is basically we get enough bookings to pay for the insurance in the car note and there’s a little bit left over. But it’s not. It’s not anything to write right home about, right? So that’s just been another thing on my mind, and that I’ve been trying to Finagle, but at the same time haven’t been able to devote as much time to that because of the family. Health issues with my daughter.

The other thing with my real estate, right? Real estate is going okay is floating along. I’m still getting some distributions. A couple of my properties are getting the increase in a couple of my properties are getting increase in de distribution like slowly. But a big thing that has affected some of my income potential recently has been the increase in rates. So, the increase in rates over the past year have increased the interest only payments for one of my properties significantly, and that is just stealing extra cash flow that I would have had from them property. There was another property a 5 unit that had more than expected vacancy at one time, and it took a long time to get that completely leased up. So, and that was just because of a market downturn in my particular sub market where those properties are and just things just happening like rents kind of stabilizing, stabilizing and overall, it. The market wasn’t doing well, right. There’s been a kind of slowing down and leveling out in the multi-family industry when it comes to rents and rates right.

 

[00:22:21 – 00:26:07] – Nicole Pendergrass (Noirvest Holdings)

The last thing I can say is the podcast like I mentioned. I have. I’m very excited that we have reached 100 episodes. But I will tell you. There was a point, especially earlier in the year when my daughter was going through a lot of the issues. And we started getting a lot of medical bills and co-payments coming in the mail, you know. They come start coming like a couple of months after you’ve been in the hospital, or you’ve you had an appointment, or whatever it is. And I had to really look at all my expenses and see where I could cut down.

And one of the things that I came to the conclusion was I may need to pause the podcast and I cause. I did not want to give up on it. I wanted to keep it, but I knew Pop, pausing, it would not be great for the podcast growth and trajectory moving forward. And so, what we ended up doing is instead of releasing episodes weekly, like we have for the previous 2 years, we started releasing episodes bi-weekly. So that would help cut down cost of production. Because if you don’t know, just because someone has a podcast does not mean that it’s profitable doesn’t mean that they’re rolling in the dough doesn’t mean they have sponsors or getting ad revenue, or any of that.

So, we really rely on your views. We rely on your ratings and your likes and your comments to show that you are interactive with the podcast and there’s engagement there. So, relying on that and on the listener is what really makes the podcast stand out and attract potential sponsors and attract potential ad revenue. Right? So, for me, I have been self-funding the production of this podcast. Since its inception. And even to this day I still do that. We have been brainstorming ideas for getting a sponsorship. And that has been a slow turn.

And I know that there are ways out there to monetize your Podcast. But at this point, I just want the podcast to support itself so that can continue to bring you new information, keep you updated, engage your mind, and really help you on your wealth building journey, whatever that ends up looking like, right? It doesn’t have to be real estate. That’s why I specifically wasn’t trying to make this a real estate investing, podcast, even though that’s the main field that I’m in. I’m also very entrepreneurial. And I love considering opportunities. So real estate, I know is not for everyone right. But I wanted to make a show that was going to speak to minorities, and whatever genre or asset class you’re in, and how to not only make money, but how to save it and preserve it generationally, so that our children and our grandchildren and our great grandchildren aren’t starting from scratch. So that’s the whole point of this show. And if you’ve been here for any amount of time, then you understand that, and you can go back and listen to a lot of our past episodes where we have financial advisors and tax experts and attorneys, generational wealth attorneys, and just all different kinds of entrepreneurs, entrepreneurs, and seeing how they’ve created their path to wealth, and just figuring out what resonates with you. Right?

 

[00:26:08 – 00:29:01] – Nicole Pendergrass (Noirvest Holdings)

So, in any. In any case. I’m committed to consistency, right? And this, just this, this phase of my life. I’ve had to pivot slightly, right? And that’s okay, you need to know when it’s okay to pivot. And when it’s okay to just maybe change your strategy a little bit. But I’m committed to bringing the show to you. I’m you have to be creative in where you can. You’re willing to hit the record button from. You might not always be able to record an episode in the comfort of your home or in your podcast studio. If you have a podcast studio, right? Right now, I’m actually sitting at work. I had this opportunity after my shift, to come and bring this episode to you, and I wanted to do it now here, where it’s quiet, instead of going home, and I have to. Once I get home. My daughters are normally running around, and they’re loud. Of course, if you’ve ever been on a call with me, or in a group call with me. You’ve probably seen my daughters in the in the background, right? Or heard them and so I wanted to be able to focus and bring this to you here. So, you just have to. If you’re going to be consistent about something you have to be willing and open to using any kind of resource that you have to make it happen right. This this was like, I said also was not supposed to be me recording. Today. I was going to have part 2 of a previous guest episode, but I’ll have his have come out after this episode, so there’ll be a little break between his 2. If you’re waiting for him, you’ll know who I’m talking about.

But in any case, I thought it was important to come to you today to share about like what’s going on and how you can stay resilient through whatever trials and tribulations you’re going through, especially if you’re trying to be entrepreneurial or build wealth in any kind of genre, it’s not gonna be easy. We all go through issues. And you just don’t see everybody’s issues. And that’s why I’m trying to come here today and pull back the curtain and let you know that that things are happening behind the scenes and you would never expect it, because you still see new episodes coming out right? So, you wouldn’t know that the show was in financial distress. Right. You wouldn’t know that the host was going through all these other personal situations. So, you never know even somebody who you see on the screen, or you hear their voice? And you see them posting on social media. And you see them in this position. You think they’re doing? Xyz. They have all this stuff together. They maybe don’t, and more than likely they don’t. They’re going through their own version of jumping hurdles that you don’t know is happening in the background. Right?

 

[00:29:02 – 00:34:54] – Nicole Pendergrass (Noirvest Holdings)

The other thing about this journey. Whatever journey you’re on, you have to not only be open to taking small opportunities where you can fit them in, even if it’s not perfect setting, but that goes into the whole Give yourself grace for not hitting perfection whatever perfection is for you, or whatever you think perfection should be for the industry, or whatever strategy or asset class or endeavor that you’re chasing right? You have to let go of chasing perfection because that is going to put you in a mental state that is not optimal for being able to overcome situations that are hard because you are. Gonna think of yourself as not doing things right. And maybe that’s why you’re not succeeding.

Let me tell you, success is not about doing it right all the time. Success is about being consistent. Success is about having resilience and pushing forward through the trials and letting yourself bat, snap back into the task and the things that you need to do. So, it’s not about perfection. It’s about pushing forward, right? Some other things. Let’s see how. Okay. So besides talking about all the things that been going wrong, or I know probably going through your head is things like you’re relating to some things that I’m saying, and maybe not. But maybe you have other situations that are just as daunting for you that you’re going through. But some strategies, for like helping you to develop resilience. Right?

Let’s say we 1st have to embrace a growth mindset. We have to look at failures as a as learning opportunities. Right? So, this is where I was saying, we need to think about pivoting. It’s not you don’t lose. You’re not a failure is not a loss. And actually, I don’t even think failure is right, really the right word, because a setback is not a loss. It’s not a failure until you quit right? Quitting. Pivoting does not equal quitting. Pivoting is being open and mindful about your situation and figuring out what you’re going to do to make the situation turn around right. The next thing, build a support network. If you, if you need to join a group. join A, it doesn’t even have to be a paid group. It could be just peers, people who are further along on that the same journey as you or it could be a paid mastermind mentorship, whatever cause. It’s not all about just prepping you to have a path to follow to reach your goal. It’s all about. It’s also about helping you jump hurdles because if you can jump hurdles because someone who’s ahead of you on that journey knows that hurdles coming great. But if there’s a new hurdle coming and it trips you up, then that’s fine. But guess what you have people who you can talk to, and you can get encouragement from or they know someone else who’s yeah gone through that situation and can help connect you to someone you can talk to and ask like how to get out of this? How can you? Get back up on your feet? And even sometimes, if they can’t help you with that it just feels good to talk to someone who’s been through that same situation and can help you with that next step.

If you set realistic goals realistic goals are also something you, could you could do. But at the same time, I think, shoot, for the stars make your goals a little bit more unrealistic than you’re comfortable with, because you need to grow outside of your box. But let’s say you take larger goals and you break them down into more manageable steps. That’s really what it’s about is taking that big goal that you don’t know how to do, and breaking it down, let’s say, into smaller steps over like the course of a year. So, at the same time, let’s, I’ll say pick one biggest goal cause you don’t wanna overwhelm yourself. Pick one biggest goal that will move the needle the most or create a create the biggest impact in your life. And what within that goal do you want to accomplish within that one year. Not that you’ll finish the whole goal within a year, but if you wanna accomplish something within that bucket for that goal in a year. What does that look like? And what goal is that that’s going to make the biggest impact in your life?

Now take that and break that out into 3 or 4 different steps right now. You may not know how to get to that 1st step. but you can start guessing on little steps in between right little stepping stones, so stepping stones that can get you to that 1st hurdle, which is that 1st goal that you need to get over and then you’ll get more stepping stones to the next hurdle, and then the next hurdle, and like. So, all these little stepping stones are gonna help propel you over the 1, 2, 3, 4, however, many goals you set down, you broke it down into over the course of the year, but those little steps will give you the momentum to be able to jump over that main big step that you need to take the not. I don’t know what to call it like a boulder, not really a boulder like a stepping stones, a boulder, I guess, would be that one year goal. But the stepping stones can get you over like I don’t know hey, edge or cliff, or something that will get you over to the next set of stepping stones. You get what I’m trying to say here, right?

 

[00:34:55 – 00:37:02] – Nicole Pendergrass (Noirvest Holdings)

In any case. I need you to not be afraid to keep pushing forward. Even if the steps are hard and they seem like they’re unattainable. You can make them attainable by breaking them down. For me, that bigger, the biggest goal that will help me is to create more income for more assets, for my cash flow. Cash flow is the goal. So, my strategy is focusing down out of all the things that I’m doing. You guys know that I’m doing this podcast I’m, I’m coaching people and mentoring them on micro family investing. I’m doing my tour business. I’m still investing in real estate, right? And out of those investing in micro family and creating an acquisition strategy instead of having a more passive acquisitions methodology that I used previously.

Now, I’m actively looking to acquire deals. So, we are doing a direct to seller campaign in a particular market. And we are very active about this acquisition strategy. And we’re cold calling, and we’re filtering through leads. And we’re analyzing and under rising. So, I do ha! Underwriting. So, I do have a partner in the other market who’s my boots on the ground and we’re working together, and we’re actually spending a good amount of money on the marketing for this, because I know that once we get properties now, we can joint venture with other people within our network and get these deals close. And if a deal is too big or doesn’t fit like the buy box that we really want, we can also wholesale the apartment buildings and wholesaling and apartment building is a much bigger wholesale fee than just doing a single-family house, which is fine. I’m not. I’m not hating on single family wholesalers, because I could not do that. But in any case, so that will also give us momentum to acquiring and having the down payment for future purchases as well as well. So, having an acquisition strategy as a business model, lets us have the opportunity to go in a bunch of different directions. Right?

 

[00:37:03 – 00:40:30] – Nicole Pendergrass (Noirvest Holdings)

So, the last thing really is make sure that you can look at your setbacks and extract valuable lessons from them, and figure out, what? What did you learn from going through this situation? Right? It’s really important to be adaptable and to be flexible in your wealth building strategy, and, like, I said, be willing and be open to pivoting. If it’s not from your goal, right? Maybe it’s just the strategy that needs tweaking.

So even with my tool, I’ll use that as an example. We were doing mainly like weekend rentals, because a lot of people are not booking during the week. So now we’re think of strategies, of how to get consistent long-term rentals, maybe to people who want to start an Uber or Lyft business right, but they don’t have access to a car, or they don’t want to use their own car. So, if we can market more to that demographic of people, then we can have that car booked out for 3 or 4 months and giving a discount for longer periods of time. Cause, then, that gives us consistency with what income we’re getting from the car. So that’s just an example of tweaking strategy, you know. Not me just selling the car and being done with this Toro didn’t work. No, I didn’t work the Truro.

And so that’s just one example of tweaking what you wanna do, and approaching it from a different angle, and keeping your mind open by saying, how can I make this work? Not this doesn’t work. How can I get out of it? But how can I make that work, this work? That is what is gonna make? Your brain keep thinking of possibilities and brainstorming so that you can get to an answer, and you can try everything else out before you decide that this strategy or this this asset class really isn’t for you. There’s something there that you could do. You’re just not asking yourself the right kind of questions, right?

Another thing that I do, too, is I journal a little bit. Not all the time. Consistency, I think consistently. I think journaling will really help you in writing down where you wanna go writing down what happened during the day, and even if you journal a little bit in the morning and think about what you’re grateful for, and look for opportunities to be grateful during the day that’s going to help you find those opportunities to be grateful, and that just it just opens up your mind to think about the positive that’s happening in your life.

Another thing to think about is not comparing yourself to where you wanna be in the future or comparing yourself to anybody else and their journey. But look back, look back at what you’ve done already in the past. Think about the past 5 years. Where were you 5 years ago. Where are you today? What have you accomplished in those 5 years? What about one year ago? Where were you last year? And what have you accomplished since last year to today. That will just help you see that there’s been movement in your life, even though it’s been slow, and you haven’t really been paying attention to it, because it’s gradual, but gradual steps will move miles, right? You can move miles slowly and one step at a time. It doesn’t have to be. That’s how you how do you elephant? Right? Not all at one. You take one bite at a time.   

 

[00:40:31 – 00:43:33] – Nicole Pendergrass (Noirvest Holdings)

In any case, you are allowed to be human. You don’t have to be perfect. It’s not about perfection. It’s about giving yourself enough grace, compassion, and patience with the journey, and having a realistic mindset of what the timeframe is gonna be for the journey that you wanna be on. Expect that it’s gonna take longer than you think. But work as if it’s going to be quick, right? And then that way, you’re doing action. And you’re not lacking on the action that you need to do. But you can also step back when you have issues, when you have family problems, when you have businesses that aren’t working, and you can give yourself that period for your brain to kind of rest and recuperate.

You need sometimes to give yourself like just quiet moments. I know it’s hard. Trust me. I have 2 young kids, and it’s very hard to find a quiet moment. But if it’s you have to wake up a little bit earlier, if you have to stay up a little bit later, after they’re in bed. Just have that quiet time to just sit and don’t even let your brain think of anything. Just be blank. Give your brain space to just be and to just recoup, and sometimes things will come up to you and pop up like a light bulb, and sometimes it’s just like time to be quiet and just kind of relax, and just settle down from the day, or from whatever else is going on in your life.

So that’s 1 thing, just being mindful, giving yourself space to think and be, and just be blank sometimes, whatever you need to do to kind of relax, and then remember, you just snap back. not just snap back. It is hard, it is hard. I won’t say I won’t downplay it like it’s not. But to be resilient, you need snap back and you can get up. You can get knocked down. You can get back up again. You’re it’s okay to take breaks is okay to slowly get moving again. You don’t have to go from getting knocked down to sprinting. You can start by just like standing up. You could start, even if you just need to crawl and move forward. And after that crawl, then you slowly get up on your knees, you slowly get up on your feet, and you, even if you’re stumbling along, you’re making movement and give yourself grace to be able to do that.

Take calculated risks, and don’t be too afraid from the setbacks you’re experiencing to move forward and to push forward and take more opportunities, taking a calculated risk or taking of risk doesn’t mean you have to jump out the window without a parachute. It means you plan your strategic. But then, after you do your research, you just go ahead and make your move. Don’t research forever, because then you’ll be stuck in that box, and you’ll never see any type of progress.

 

[00:43:34 – 00:45:38] – Nicole Pendergrass (Noirvest Holdings)

So, I just want to thank you again once more. Thank you for listening to this rant of a podcast episode. And next episode will be the second half of our previous guest. But I just again, I’m thank you so much because I cannot believe we’ve reached a hundred episodes. I’m so grateful for you still being here and still joining this journey. If you have any potential guest that, you would like to hear, or even like just topics that we haven’t touched on yet, or that you would like to hear deeper in a specific kind of not strategy, but a specific like niche topic. Let me know. Email me at sharethewealthshow@gmailcom. So, email me there with any suggestions or new things that you want to listen to or talk about. If you have guests, specific guests that you want to recommend for the show. Send that my way as well.

But all in all, like I’m just. I’m excited. I’m blessed. I’m nervous for what’s gonna come next. I’m really, really pushing to keep this show alive. We’ve already surpassed a huge percentage of other podcasts that have stopped short. And I think reaching a 100 episodes is a huge milestone that I am thanking you for, and we should all be proud of, because this journey would not be happening if you weren’t there supporting us. So, if you know anybody who is needs to listen to this show and they haven’t found us yet. But they need the kind of topics and information that we talk about here. Then please share it. It’s all about sharing the wealth, right? So, in any case, I will see you in the next episode, and I’m here celebrating your snap back.

 

[00:45:39 – 00:46:16] – Outro

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