[00: 00: 00 – 00: 00: 19]

People like Insta gratification because they want a solution to how to do better the next time so they don’t mess up twice. I always say success is never caring who gets the credit. And more importantly, perfection is never messing up the same way twice. Like, once you have how you define certain things for you and not others, you go on your journey and not someone else’s journey.

[00: 00: 20 – 00: 00: 50]

Welcome to the share the wealth show, where minority professionals can learn to escape the racial wealth app and catapult themselves into abundance. Your host Nicole Pendergrass grew her net worth from being negative to multiple six figures. Join 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: 00: 51 – 00: 01: 26]

Hey, guys. So we’re back again. This is the second part of the episode with today’s guest I need you. If you have not heard part 1, go back to the previous episode and listen to that first and then come back and join us here today. but you’re not gonna wanna miss what they already said because then you’ll be lost with what they’re about to say. But in any case, you don’t wanna miss the whole. You need to hear the whole conversation This is why we split into two parts. There’s so many nuggets. It’s so juicy. Go back and listen to the first part. Okay.

[00: 01: 27 – 00: 02: 56]

Okay. So you have we talked about your Build your bank, the school that you have. The life you okay. Your commercial really well, actually, we talked very little about real estate, but that’s fine. Like, I’ve talked about real estate and a lot of other unless there’s something, uh, specifically about a date. I know in with you, there’s maybe a different type of business model structure to it or something a little bit different that you’re doing than everybody else’s when it comes to syndications and things like that. Um, you do syndications too. Right? Of late? No. I’m late. I personally got away from that. Um, for me now, if it’s a syndication, it would be a passive investment. I’m not interested on the active side because I’ve already said this. I said, uh, uh, syndication is truly building someone else’s dream. The question is, are you okay with doing that in so happy. And I tell people all the time, you have to act yourself mentally that you are now not necessarily angel investor, but you’re an investor in somewhat startup. And are building a dream and be okay with that. Because ultimately, it goes from a syndication usually to someone starting their own network of, you know, adding more value and getting more capital, throwing more events to raise more capital when sometimes that capital that they’re raising is far more so from the event as opposed to their actual investors and our network. So I’m fine with building someone’s dream and helping them do that. At the same time, there’s more people out here that don’t need a syndication to build their dream.

[00: 02: 57 – 00: 04: 14]

When I meet those kids, when I meet some of those families, they have 10, 15, 50 k, but they don’t need to put it into an asset as far as education wise, because now they’re not asking about how do I invest in this asset learn and earn while investing in an asset. They’re investing in a network, and they don’t realize there’s a difference between an operator and a passive investor. So just providing a level of clarity, uh, upfront before I go into it. So I’d rather JV with someone or just be the bank for them. Okay. Yeah. That makes that makes a lot of sense. There are a lot of people who are not at that level where making investing passively as a syndication sense for them or their finances, but there are much more people with less capital who need something that is a little bit more active um, and is outside of the mold of, you know, what they’re normally exposed to. Yeah. Uh, syndication isn’t doing more good for me as far as helping others. It’s doing more good for me personally. And it’s not about me. It’s about the abundance mindset of being a go getter, go getter. And if I’m having a syndication, that’s on hold. You and I both know that’s a whole time. What? When I could have put that into adding value to some others and showing them how to deploy capital in different ways.

[00: 04: 15 – 00: 05: 46]

Mhmm. No. That’s very true. Because even when I’m doing, I’ve done 2 syndications so far, um, not as the lead GP, but, you know, a co-sponsor. And, um, the capital sorry? A lot of work. It’s a lot it’s a lot of work. And then also the capital that you make, especially depending on how large the GP team is, can be cut down pretty significantly. So I don’t even wanna say is helping me grow my legacy that much at first. Like, that’s a syndication is a long term game just like wealth building. You know, that’s not a quick do one syndication and you make a ton unless you’re able to finance the whole thing by yourself, then you’re not doing this indication. You’re owning an apartment building. But yeah. And that’s why I have to be realistic of where I’m at. If I can take down that by myself, why would I go build someone’s dream of taking that down when I know there’s a lot of individuals that are gonna go into that space because they’re mentally thinking as an operator, when they hear the, oh, do one deal quit your job. You better not. Because there’s a rat race all right. Question is, what type of, you know, cheese or — Oh, but you’re gonna say what type of rat are you gonna be? Yeah. Exactly. What type of rat? What type cheese. Papa cheese. Who stole my cheese? Yeah. Yeah. Yeah. No.

[00: 05: 47 – 00: 07: 40]

 I, uh, and that’s what I’ve I go back and forth with myself about firing my capital partner. Um, but I think I’m good. I think I’m good. Like, I know I’d be able to get by. I have just enough income to cover what I need to. I’m good. Otherwise, I’ll be calling you and sleeping on your couch, rating my 2 kids. Listen. It’s okay. Do what you love and love what Exactly. Exactly. Okay. So this oh my gosh. This really has I’m looking at my notes and trying to see the anything else. I know there’s so much, uh, other things that we could talk about, but I love the whole treasury management index options. To build your bank, your private school, you even the real estate that you’re doing, but now more JV. Um, okay, we would talk about like it or love it. Oh, yes. Yes. Do we wanna I know, like, as this is a youth program, right, a youth sports program? Yes. We do a number of things in there. We have to, um, adopt the heart to where we actually have different entrepreneurs coming from different uh, backgrounds, whether it’s police officers, chairs, teachers, lawyers, doctors. The kids tell us what it is that they would like to do career wise. Because they always base it off of money. And then when you pay the cash flow game, whether they realize quickly, the janitor is sometimes a lot more wealthy or The long run’s a lot more wealthy than some of those. Then the doctor, everywhere else. I’d be mad when I pick a doctor car if I pick a doctor. I write this I wanna be even kidding. Like, it sounds good. I’m like, how about this? Do you wanna be a doctor? Just go get your PhD. They got some janitor doctor out there. I said, it’s not that hard, but every doctor is not an actual doctor. They just let you know what type of degree they have first and foremost.

[00: 07: 41 – 00: 08: 42]

And you have to educate the kids on that because they don’t know that. It’s like they don’t know you can go into commercial, the same way you can go into residential, but with a lot less when you start talking about the entry point of education as far as having, you know, selling an asset or purchasing an asset. So just educating them on different things. And then once they go, they have, like, 15 minutes at a table with a different professional. And then they rotate around. So either they’ll have one question that they can ask that professional. Those are pre-approved questions that they get to submit prior to the event. And when they ask them questions that go around and then the next meetup, we find out that some of them didn’t realize they had to be a police officer and our go through a true criminal justice path to be a FBI agent, because one of my clients is actually FBI agents, a special intelligence. So they came, you know, talking to the kids, etcetera, and that’s when they was like, wow, I didn’t know I had to actually do all of that. I was like, what do you think you’re gonna get a degree of just jumping, especially intelligent? They, uh, one of the kids. That’s why I said they’re so brutally honest. They asked one of the police officers, which I gotta kick out of.

[00: 08: 43 – 00: 09: 40]

I have a question. if I’m speeding, and you have to speed the catch up to me. When you get to me, shouldn’t you give me a warning? Could you speed it too? So shouldn’t that cancel out the ticket? I say kids. They make you really think about things. completely different way because they want to know more. They want to grow. They want to be better. They want structure. They want discipline. Is that sometimes we try so hard to give them everything we’ve never had that we don’t realize everything we never had made us who we are. Don’t change the work habits, don’t change the work values, install them in them, and let them show up and show you who they are. Like a kid fall, oh, you’re not going to get no, I’m not gonna get them. I need to know who we’re dealing with. Is he or she going to get up and get back to it? Are they gonna stay there and look around and see who’s I need to know who I’m dealing with. That’s crazy.

[00: 09: 41 – 00: 11: 30]

Listen. I know you’ve been digging in, studying everything you can, listening to all the podcasts, reading all the books, even going to meetups. You basically have a degree from YouTube university. Right? But you still feel stuck. You don’t know how to actually implement what you’ve learned. You’re nervous about taking the next step. And what the economy like it is, especially with a downturn moving, you’re even thinking maybe you should just wait it out. I know you’ve heard that real estate makes more millionaires than any other asset class, but you know what else? More millionaires are made in the downturn than any other market cycle. So now is the perfect time to jump in and really get started. I’m super bullish when growing portfolio this year, and I don’t want you to miss out. So I’ve decided to start the Micro Family Investing Accelerator This is a mentorship program where I personally guide you through my 5 proprietary pillars so you can learn how to buy your first commercial multifamily property, and scale while not biting off more than you can chew by focusing on 5 to 20 units. That’s what I call micro family. And so you can also get hands on guidance from an experienced micro family investor, me, who’s been right where you are, nervous about how to start. And so you can also create the cash flow needed to give you freedom and options to build the abundant life that you were destined to live. So I’ll be limiting the first cohort to 5 students because they’ll have direct access to me, and I will be heavily invested in their success. If you’re ready to grab 2023 by the horns, schedule a free discovery call with me today. The link is in the show notes. Let’s hit the ground running in 2023. I look forward to seeing you on the inside, and now let’s get back to the show.

[00: 11: 31 – 00: 13: 22]

Because I try to think about that when, you know, even just dealing with my children, um, if because they’ll and their kids are so different too. The youngest one, she’ll fall. She’ll do something. She’ll fall. They had on the little tikes’ roller skates or whatever the other day in the house. So, you know, we got hardwood floors. We got some area bugs. So they going off the area rug onto the hardwood floor, and maybe she ain’t realized the difference in the friction. And so she fell so hard, and she popped right up and started just cracking laughing. It was like, like, oops, I fell, like, more of an embarrassment thing. And that’s a three-year-old. That’s a five-year-old who’s over there and fell too, and she is on the ground. Oh, Liz. And it’s just like alright. My husband said, it get up. It’s fun. Doesn’t hurt that bad. Yeah. But she he was like, it’s okay. It’s okay. And she’s like, you know, and I just I just don’t know how to that’s true. Encourage, but still in support, but still, like, toughen her up a little bit. I got it’s kinda actually what they need for. and let them have that moment of telling you what they need because some people just want to talk. Everyone knows someone that they just need to get it off their chest, and they just need to get it out in the open someone, and then they feel better, even if they could have felt better without doing all of that. But you let them go through their process. And even with what you just said, I picked up on the first child is probably perfectly fine with coming to you, or when they wanna share in this, they’re gonna go to pop up. The one that failed in scream and yell coming to you, period. That’s good. I picked up both.

[00: 13: 23 – 00: 14: 37]

And you know what? And honestly, I it’s that line. It just depends on what’s happening, but the one who fell kinda does she goes with daddy a lot. So, I don’t know. But daddy was, uh, I don’t know if I should say it because he listens to this podcast sometimes, but I’ll say it. When he was a kid, he was a crybaby. So she got that from him, and I was not. I was completely opposite. So I think my youngest one got that from me. And he’s gonna be like, why you will say that on your podcast? Uh, I’ll just tell him not to listen to this episode. It’s the truth podcast. It’s the truth podcast. But, anyway, I love that question. That was so thorough. See, now, and whatever I need parenting advice I’m calling you. What do you need from me? If I just need to ask her, okay. What do you what do you need? How can I make you feel better? What do you need from me? Then I’m sure she’ll tell me an icy. That’s it. It’s like all the bus. People like Insta gratification because they want a solution to how to do better the next time so they don’t mess up twice. I always say this is never caring who gets the credit. And more importantly, perfection is never messing up the same way twice. Like, once you have how you define certain things for you and not others, you go on your journey and not someone else journey.

[00: 14: 38 – 00: 15: 38]

And ultimately, when she communicates you to you what it is that she needs, that’s a level of healing and her suiting right there in itself. And sometimes we try to come to the rescue, but they don’t need us to come to the rescue, they need us just to list and they need us to just be a support. And we don’t know how to do that because we’re oftentimes communicating with ourselves. So I always say K YP, know your personnel. You know Each of your children, including your husband, probably better than they know themselves. Yeah. Yeah. No. That, know your personnel. I’ll writing that down too. kyp. I gotta listen to this again because I gotta take better notes. I don’t got enough. I should had a blank piece of white paper here to take notes. I’m trying to write between words and I can’t I don’t got enough space, so I need to relisten to all of this. This has been fantastic. Alright. So We actually probably over time, it don’t matter because this is just way too great. Um, but what I’m gonna do is we’re gonna start wrapping up, and I’m gonna ask you the final questions that I ask every guess.

[00: 15: 39 – 00: 17: 19]

Okay? So, um, Warren Buffett said that diversification is protection against ignorance. What do you think he meant by that? And is that a good or bad thing? I don’t think it’s good or bad. I think once the NKIP know your personnel. Um, diversification too also depends on what works for you, not someone else, um, like. For me, I diversify a lot in different asset classes if you’re talking about investing, things of that nature. I always hear people say the definition of insanity is doing the same thing repeatedly expecting a different result. I personally think it depends on an individual in this situation. which goes back to this quote. If a person continuously does great and does all the things that’s needed at their job, oftentimes they also get overlooked for promotions. Sometimes individuals that’s doing nonsense that really doesn’t have clue of what’s going on gets the promotion. So if that person continues to do well and to do great, That’s a well-adjusted individual. That’s not an insane individual. So that individual in that situation applies to something different, and they had to diversify in that situation. For me, it depends on the market and the market cycle. Um, if I’m going to diversify, like, right now, I’m investing very heavily in tax certificates and our options at sling deeds as opposed to just acquiring certain other type of assets. Um, uh, land I’m looking at heavily and car washes and triple net lease. So if it’s multifamily or self-storage, I’m definitely looking at the right partners for that. That’s why it’s important to have a network and a teamwork because I think teamwork makes the cash flow. Build your bank, and have a cash flow lifestyle.

[00: 17: 20 – 00: 19: 19]

See, I I’m not gonna write that now. I’m just gonna rewind and write it down later. Okay. I love it. Um, I know you’ve played monopoly before. No? I have. Oh, okay. Old time, but I have. I know. Yeah. It’s been a long time for me too. I came up with this question, but I had it’s not like I’m a monopoly fanatic. I don’t play it that much. But, anyway, everyone kinda knows the fundamentals of it. So that’s why it’s good. So boardwalk is, you know, one of the most expensive properties and Baltic is one of the cheapest in your strategy to win the game, whether real life game or monopoly game, which one are you buying first and why. Since I can’t say both, it goes back to the market cycle. Um, when investing, I’m always looking at the cycle and what makes the most, um, sense to me. Like, right now, if I’m investing in, say, a multifamily asset, it’s going to be a class or a B, just because I don’t wanna ever be on someone’s 30% income. Like, how can I add more value to them? So now I’d rather be on someone’s 5% income or someone’s 10% income. So I determined that based on the market for me or how I’m choosing to invest and going back to that network and teamwork. But if I had to buy would probably be the boardwalk. Um, but right now, I think buying up a lot of Baltic Avenue is gonna be very in intentional because there’s gonna be a lot of individuals that are gonna be potentially displaced. So if I can add value to them and have a quality property, that allows them to, um, still have those w twos or those jobs and things of that nature, then that’s what I’m into. But normally, I would be the boardwalk person but due to the current market, I’m gonna probably be more of the Baltic Avenue, um, individual to where I’m gonna buy more of the cheaper properties and then add more value to a lot more families.

[00: 19: 20 – 00: 20: 33]

I love that. I love that breakdown. I think you’re probably one of the only ones who’s actually gone into what’s happening right now in the market cycle and why which asset type would fit better with what your business plan would be. Okay. Love it. Um, what the no. This is gonna be a good question. What does wealth mean to you? It starts with me about need, wants, and desire, um, time and freedom. Like, my time is so valuable to me, and I want the freedom to do what I wanna do, um, with, uh, how I wanna do it, what I wanna do it with, and family wise, etcetera, um, investing in other people, because that’s where I’m at right now, just investing more of my time and other people, because people ask me what I do all the time. I’m like, it’s some mystery to him when it’s like, uh, wealthy is quiet because I’m a lot of I’m around a lot of wealthy individuals, and you don’t talk about what you do of time. I like when someone says, tell people what you do. Tell people what you do. I want them to say the best. People that tell people what they do all the times because they don’t have enough capital. And I said, uh and it makes a ton of sense, though. Like and then you have the other ones that do have enough capital but they have some larger goals in place, and they need more people on their side for that in the long run. So they’re doing all of that extra good now. to, um, allow that to happen.

[00: 20: 34 – 00: 21: 39]

But for me, it’s about time and freedom of being a life legacy chain. Life, let’s invest in future education and employment. Legacy that l is for life or laughter, because sometimes you gotta make sure you’re having fun to do what you’re doing. That is for education, that she is for grace, leave with grace because you never know where on that and where they’re trying to go, you might be able to add value to them. You might tier them backwards based on the words that come out of your mouth. AS for abundance have that abundance mindset to be a go getter go giver, think more about others than about you because if they get what they need, you will get what you need want and desire. CS for compassion, which goes back to grace. If you leave with grace and compassion, chances are you’re gonna be right where you need to be want to be when it’s all said and done. And then youth giving back to the youth because we have two year olds that know how to work a cell phone, but it ain’t, you know, a fifty-year-old. So, ultimately, if we added to that and stop trying to change their current, you know, structure of normalcy. That’s not our normalcy, because I didn’t want a phone, even when my parents gave me a like, I don’t know what I need that for. We need to know what you’re at.

[00: 21: 40 – 00: 22: 30]

These kids need to fall because some of them are making more money than their parents from social media and different other aspects So it’s like meet them where they’re at and help them go to where they’re trying to go as opposed to changing them and wanting them to be more like how we were when we grew up. So, and they educate you in a completely different way. And then once you’re that life legacy changer. For me, it’s about capital. and sets the name life legacy capital. And it takes capital to do that. So once I have more time, capital, once I have more freedom capital, I can deploy my capital in a different way, which is my time, my freedom. And philanthropy for me isn’t always about giving more capital. It’s about giving more time capital so that we can grow and be well and wealthy together. But that’s truly what wealth is for me, making sure my needs wants and desires and my time freedom is in place to where I it can be a life that needs to change.

[00: 22: 31 – 00: 24: 00]

Oh, I needed this today. I needed this today. Girl, girl, you are blessing me right now. Alright. your business. What are you planning to do? Where do you see yourself going, you know, in the future, 3, 5 years, or however far out you plan. And then what’s the biggest resource you need to get there? People. You need more people, more contacts, more lifeline? Of individuals that want to do good, that want to do great, that want to be well, that want to be wealthy. Um, like right now, we’re, um, acquired some land to where make sure it’s shovel ready to build a hotel on there, a whole full-fledged, um, family center community center, parking garage, sports theme, um, pretty much you can go there and it’s literally a one stop shop like a resort, but in different locations, and there were opening up another private school, um, life legacy academy, and there’s gonna be ones in different locations and our countries because it’s the level of value of education within our capital partners that we have in place. we wanna add in that well fit component to where these kids are learning more about wealth. So it’s more people. Because with the more people you have, the more kids that come with it. So they’re educating themselves, they’re educating their kids about, you know, how to do certain things. Taking those tax strategy classes so you can learn about it now so they can understand why when you have $20, you’ll expend the whole thing.

[00: 24: 01 – 00: 25: 26]

My grandmother always says, you know, for every $5, you have spend you could spend 3 but save 2, so you always have funds for your payback home. Hence, her age, $5 made sense, but now that $5 is more like a 100 when I when I’m talking about math. So, like, have yourself in decent in order, and she always says work for it won’t pay for what you get, and they ain’t always talking about money, but watch where you’re putting the time because it matters because you get back what you put in because time’s on a paycheck. So business wise, it’s more people, more contacts to add more value to them so they can build their bank prior to them just saying I want to invest in this. I want to invest in that. Because anyone that’s truly an investor or a truly an entrepreneur, the time commitment that goes into that most people aren’t ready for and they quit before their breakthrough ever happens. And I always say your breakthrough is usually always around the corner. The question is, are you gonna get to the corner to go around? Are you gonna get to the door and not can go through it. Are you just gonna open the door and go throughit?

 Are you scared to even get to the door to take the action to move forward? So getting in front of more people, talking to more people, trying to add value to more people and overstating that. You’re not gonna add value to everyone, but sometimes you can expand their mindset from a consumer mindset. To an entrepreneur mindset or an investor’s mindset, they look and value money completely differently because money is a product, money is a tool, and your relationship with money when it changes, because you have more and you’re doing well and you’re wealthy, your life will become a life of abundance. So you too can be a life legacy change.

[00: 25: 27 – 00: 27: 05]

And what you just said, which indirectly, you can have you could be an entrepreneur. You can develop an entrepreneurial mindset and still have a capital partner. Absolutely. So I love that. Okay. So — — everything. I’m gonna say that out loud. It’s not for everyone. Like, I know deep down, I don’t really wanna work for others, but at the same time, I knew the systems that I was going to learn. Like, I recently won, uh, award called The Wallach Chiefs. It wasn’t until I was at that large gathering with over 500 plus people. That I found out I wanted Of course, I had some food hanging on my mouth when I found out. So I had to hurry it up from that, but I was told I increased the budget 600%.

And in my head, I’m like, 600%. That’s how I knew it wasn’t me. And then when they said my name, I was like, 600%. But that explained why my businesses were doing very well as well because I was applying those same type of metrics, EKPIs, those spark goals, and all those things. That I was learning system wise at work, or my capital partner, those same things were being applied to my actual business just in a different way. It’s kinda like going to school. That that’s a capital partner. They’re paying for your education. If you have the opportunity with scholarships or whatever the case may be now, what you choose to do with that time, and those resources is on you. You can go have fun, or you can actually listen and apply. So I would say it’s not for everyone, but I chose to leverage it. So I always knew I could have more capital to deploy to do more good and create more passive cash flow.

[00: 27: 06 – 00: 28: 16]

Miss Grimsley, you are I don’t even have the right terminology. I wanna say, like, supercalifragilisticexpialidocious. Yeah. Everyone’s being audience. Every audience is gonna be different. And you gotta be realistic. There’s gonna be some hobbies out there that never invested. They wanna invest what’s gonna help them take the first step, the ones that have invest, the things haven’t gone right. They don’t wanna do it ever again. So they’re probably gonna be the ones not helping the ones that wanna take the 1st step, but you have the ones that done it. They never had a deal that’s going sour or investment. That’s made them feel in different, like, you know, the person that’s taken the first step or the person that’s not had a successful experience. And you have the other ones that are in the big playing field. So you just have to be realistic when you’re communicating. The audience can range, and when you’re ranging, you have to be able to communicate to all of them while you’re communicating. So when it’s not a ton of jargon, you’re being very honest, direct, and truthful. I definitely appreciate that. because that’s what this is all about. Right? Sharing the wealth and you shared a ton of wealth and knowledge because knowledge is wealth but then the power comes from implementation.

[00: 28: 17 – 00: 29: 36]  

So I want everybody to implement. She gave so many websites and she gave the information, like, how you can get started. So go get the education that she has for free on her site. So, you have no excuses because she really laid it all out for you guys. And how can people get, um, in touch with you or connect with you? Uh, the best way I would say LinkedIn, I don’t do a ton of social media, but I make sure on my LinkedIn, I’m the person that answer it. So you’re not getting the vibe and things of that nature. That’s me being professional in that communication back to you. So if you get a message back, that’s actually me, not someone My LinkedIn is Aubrey G. That’s alvereyg on LinkedIn. So, though, and on there, I have a ton of different things. You go to our website, phone number, and on my Calendly is there, feel free to book a call. Um, if I could be a value to you, I love connecting with phenomenal individuals. Oh, I love it. And you yourself are phenomenal. Phenomenal like attracts like. Okay. Thank you again so much for joining us today. Everyone listening. If you I don’t even wanna say if. You’ve got value from this episode. There’s no way that did not happen. Give it a like. Like the show.

[00: 29: 37 – 00: 30: 09]

Share this episode with your friends or colleagues or whoever you think is gonna benefit from it, which is actually everybody. So just share it with everybody. And then leave us a review. So that more people can hear information like what Aubrey just shared with us today. This really needs to get out there, and we can do that with your help. So Share the show, share the wealth, and we will see you at the next episode. Bye, everyone. Great day to have a great day. Yeah. It sure is.

[00: 30: 10 – 00: 30: 34]

Did you love this episode of share the wealth show? Be sure to connect with Nicole by her on LinkedIn, Instagram, or Facebook. If you picked up any of the gems that were dropped by today’s guests, make sure you not only put them in your bed. But if you know of someone who would benefit from information. Don’t keep it to yourself. Share the wealth and make sure to leave us a rating and review. We’ll see you for next week’s episode. Subscribe so you’ll be notified.