Liz Faircloth along with her husband Matt run the DeRosa Group. They own over 300 rentals and invest all over the North East.
She’s a great guest in that she has a wide array of experiences consulting with CEOs, helping to run her real estate investment firm, and being a wife and mother.
She balances it all and shares her insights on what it takes to go into business with your spouse and how to navigate a male-dominated industry as a female.
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Resources Mentioned in this Episode
https://therealestateinvesther.com/
https://www.derosagroup.com/
Show Transcription:
Music: 00:03 Welcome to the RentPrep for landlords podcast, and now your hosts, Steve White and Eric Worral.
Eric Worral: 00:11 Hey everybody. Welcome back to another episode of RentPrep for landlords. This is episode 236 and I always do this, but I believe it’s number 236. I sure always do my research beforehand, but it’s just Eric here today and we have a special guest joining us. You may recognize her because we recently did a live interview with her husband, Matt Faircloth. This is a, uh, Liz Faircloth joining us today. How are you doing Liz?
Liz Faircloth: 00:35 I’m doing great. How you doing, Eric?
Eric Worral: 00:37 I’m doing well. Well, it’s a nice Friday morning. Life is good. I’m feeling good. How about yourself?
Liz Faircloth: 00:43 I’m doing great as well. On the mend. Family has been sick, so everyone’s starting to feel better, which is good.
Eric Worral: 00:50 Yeah, that’s a always a that time of year, right? Approaching winter and everybody’s got a runny nose and sneezing on each other and it’s just it’s a fun time for everybody.
Liz Faircloth: 00:59 That’s right.
Eric Worral: 01:00 So just to give a little bit of backstory, Liz, you grew up in a small town, right? Right outside of Flemington, New Jersey and you graduated from Rowan University and also have a degree in psychology and then got a Masters degree in social work from the University of Pennsylvania. Very impressive. And from reading your bio here, I’ll let you kind of explain a little bit, how did you go from, you know, going on this path of, um, you know, getting a psychology degree to eventually getting into real estate. Tell us like eventually, like how did that switch happen? What happened there?
Liz Faircloth: 01:31 Yeah, it’s, I get that question. I get the question often. So I was actually getting my degree in, um, you know, my masters degree in social work. I pen and you know, University of Pennsylvania is actually one of the greatest Grad degrees is Wharton, right? The Wharton School. So it’s funny, you know, the school social work with this small little building and then right next to it was like this huge, like beautiful building, which was the Wharton school obviously. Right? So I remember just thinking I really wanted to take an entrepreneurial class, so I come here and I was able to do it. I didn’t have to pay anything actually already paying them enough money anyway, uh, so I took a, I took an entrepreneurial class during my social work degree, which no one else was doing, but I just was really intrigued with just starting a business and, you know, trying to do something on my own. So when I left and got my degree, I thought maybe I do something were starting my own kind of social work related company. And then I met my husband. We started getting really intrigued with real estate investing. We started out actually learning about the power of real estate through playing the cashflow game. Uh, Robert Kiyosaki’s cashflow game and it’s an excellent game. I would highly recommend anyone that’s never played it to pick it up. I think it’s like 100 bucks or less, but it’s literally like monopoly on steroids and it’s just a great way to start really getting thinking about how do you do this? And, and it’s just, you know, the game’s great. So anyway, that got us really intrigued with read Rich Dad, poor dad of course, like everyone else and we’re kind of hooked and started taking courses. So we, we actually then kind of started our path in buying a duplex in, outside of Philadelphia and I kind of put, you know, I put aside my social work interests and really dived into real estate. I said, well, you know, maybe I can merge the two. And then we eventually started the Derosa group and we initially really, not initially we were still committed, but initially we really were like, okay, we can buy property and try to help the community as well. Um, you know, that was very, that was our goal at first. But you know, we’ve tried to do that and we have done that. But it’s hard, you know, it’s a big one when you’re really shifting a community and a building. It’s one thing to shift a building and it’s a whole other thing to do a community. And I think we’ve done a good job, very good job at that in, in our, um, one of the main areas we invest in, which is Trenton, New Jersey.
Eric Worral: 03:55 Do you find to do that that you have to kind of, um, I mean I’m assuming that your properties aren’t like super far apart and Trenton then if you’re trying to like flip an entire community. So I have kind of two questions, like are you strategically buying properties close to one another because you might be able to affect the, the real estate in that area.
Liz Faircloth: 04:12 Yeah, that’s a great. That’s exactly. So we, when we started doing stuff in Trenton, we didn’t do that. So we’re like, okay, well we can buy a property, you know, where can we buy properties that are, you know, then we shifted our focus because if you really try me, you can affect to the community one property at a time in different parts of that community. But it certainly, it’s going to take a lot longer. So we then shifted and said, okay, we actually started raising private money and we put one funds together. We’re actually focused around the train station in Trenton, so it’s one of our funds where we literally had to scattered site, duplexes, triplexes mostly small Maltese and we literally took property by property and we probably have at least, I would say 15 properties of multifamilies around the train station and we’re also working on a development in that very area. So that is really, you know, really shifting the community, um, to the properties. We renovated our right on the, you know, the main fairway one was a boarded up, now it’s like, you know, it’s a commercial space. The other one was a board up now as a commercial space with a, you know, rental above it. So yeah, to make it make a real difference, you got to do that. So we did that there. And the other area we did, that was where our office building is a on, on a main street of a, of Trenton. And we bought our office building many, one of our first investments. And then most recently bought two other big buildings on that block. We just renovated one and uh, you know, it was a board up now has a pharmacy in their beautiful pharmacy and uh, as three big loft style apartments and then we’re doing the same thing on the other side of the building on our block. So that’s, that’s kind of 2019.
Eric Worral: 06:02 So a question that I have just to kind of take it back a little bit. So I would think it would be very hard given your level of education to make the leap to just go into real estate full time. Like what was the, um, what was the mental like process on that because like my wife’s was spent years and years in school and we’ve talked before like could she ever leave her career, which she’s doing now just because you feel so pot committed on it.
Liz Faircloth: 06:27 Well, it’s a good. It’s a good point. So what’s interesting is that when my husband and I started investing together, which was 2005, is when we really started the Derosa group, kind of like, you know, we, I think we bought our first duplex in 2004, but really got going on in 2005 the same month that we got married. My husband quit his job.
Eric Worral: 06:48 Okay.
Liz Faircloth: 06:49 So yeah, talk about good timing. No
Eric Worral: 06:52 You guys talked about it though, right?
Liz Faircloth: 06:52 Yeah, we did, we did.
Eric Worral: 06:54 He was like, I quit, just wanting to know,
Liz Faircloth: 06:57 hey, congratulations
Eric Worral: 06:59 after we got married, just to make sure things were good
Liz Faircloth: 07:02 Yeah, so we did. We kind of strategically planned it and what I did though, at that time I was consulting, I was doing consulting work. So when I left Penn I actually didn’t get a social. I never actually had worked in social work. I ended up getting a job doing kind of like team building and like kind of like team, you know, all the soft skill trainings, uh, for companies. So I worked for a consulting company and I was working there and my husband said, why don’t I quit my job and, you know, take this thing on full time and you keep doing what you’re doing. So, you know, we definitely at least have one mortgage, our mortgage payment you know paid and it was just him and I we had no kids yet. So I said, great, let’s do it. So that’s kind of what we did. I had a hand in our business, but he was the kind of day to day operator, uh, early on, you know, kind of taking it on. So, so my mental shift happened a lot later because I did end up leaving my job and my work. Um, and it’s interesting you say that because in 2008. No, it was 2008. Uh, I ended up quitting and saying, okay, I’m leaving. And My boss was great. She said, no problem, you know, if you ever want to come back, please do. So I took, you know, went full time, my husband and the first time we worked together it was a complete disaster. Um, you know, my husband and I say this in blog posts, but like my husband said to me, he’s like, we are, we don’t change something, we will get a divorce and um, we, so many things we were doing wrong, right? So I was doing administrative work, I was putting the furniture together in the office building, like every role that what you can think of that was completely not aligned with my brain and my strengths
Eric Worral: 08:48 put together, the furniture.
Liz Faircloth: 08:50 I mean it was just like, you know, and I teach people how to like use strengths. This is what I used to do, Eric consulting work. And
Eric Worral: 08:56 here I say not as I do
New Speaker: 08:59 that is, that is the truth. Words to live by. But you know, when you, when you have a small business you really have to watch because you can end up doing everything because everything needs to be done, right. So, you know, you have to really, you know, neither of us had entrepreneurial experience. So you kind of growing up as you’re building your business, you know, growing up as a business owner, I should say. So, um, to answer your question, the mental shift happened, most, most really happened. Well, when I, second time I went back to my old job, I stopped working with my husband at that point, 2010 and I ended up going back to my old work. My boss took me back gladly. I said, I said, Matt, this isn’t working. I can stay in the business kind of strategically. I just can’t work. I can’t do this full time with you. This isn’t working. So I ended up going back and then I left again, uh, for the last time when I had my son in 2013 and I came back to working with my husband more on a part time basis or more like on a strategic basis. Um, and this time I was able to really kind of focus more on things I was my strengths. And so I was able to combine what I was doing in my consulting work and my using my brain and, and all those sort of things. So we kind of, we’ve been doing it right or better, I should say.
Eric Worral: 10:19 Would you say how much of doing it better that second time around had to deal with learning from your past mistakes versus like the, maybe the business being a little bit more established and you guys being more established as a couple and being able to like work through things?
Liz Faircloth: 10:33 Both? Yeah. Both. Yeah. I mean, and, and you know, the first time we worked together financially it was stressful. Right? So, you know, here we are with a small, a small portfolio. I think we had about 30 units at the time. Uh, those were not paid in full. I mean if, hey those are, we had no mortgage on those, that’d be different, but that wasn’t the case.
Eric Worral: 10:52 I’m sure some of our listeners are like a small portfolio of 30 units that’s….
Liz Faircloth: 10:56 No, and I, and I mean that like we were, we paid too much for these, some of these properties a little bit over leveraged on these properties. That’s what I mean. They weren’t, you know, when you buy properties initially as you, as an investor, you know, you pay too much. You spend too much. You don’t do your, you know, you don’t know your expenses as well as you do as you continue, all those sorts of things. So what ended up happening though, when we weren’t living on that, we weren’t actually taking payment from that. So we were also flipping property and um, you know, it was just stressful, like you’re trying to pay yourself, you’re trying to take care of the business. Um, you know, and it’s just him and I and we weren’t living over our means, which was great and we had savings. So I said, well, worse comes to worse, you know, we plow through our savings, I go back to doing what I was doing and that’s where we did, you know, but, you know, that’s okay because then the second time around I came back, we were more financially sound as a business, which was good. We grew as business, but more importantly I was able to say, okay, what’s my role and how do we best work together and you know, so we don’t step on each other’s toes. And I had to do a lot of personal growth to Eric. I mean, you know, working with your spouse is like doing anything with your spouse, you know, your hot buttons. And when I get stressed, attend to micromanage, that’s just, I mean, that’s just one of my many things that I need to work on. So what was happening was I was like totally micromanaging my husband, which is literally the worst thing you could do with your spouse, let alone a man. Um, so I just wasn’t working and I really needed to work through that and get better with that. So I did weekends and did my own kind of personal development to get better with that. Um, and I’ve gotten better with that. I’m really much better with that.
Eric Worral: 12:47 Did weekends, is that like where you went to a seminar that was like a conference or something?
Liz Faircloth: 12:51 Yeah, one, one of them in particular was a, uh, if you’ve ever heard of the landmark forum, uh, and it’s uh, I think it was started in California, but they have forums everywhere and my husband and I went to it together and we, our communication just and I, and we’re both pretty good communicators. When you’re working together you gotta you can’t be good. You have to actually be exceptional. Like that’s how as communicators and if you’re working together and actually trying to build a business together, you actually have to be exceptional at communicating. It can even be average. Um, and that’s what we did. We went to this course and uh, and it was just eye opening and it was life, uh, eye opening of course, like, you know, really brings you back to how you become who you are and you know, like deep stuff, you know, not everyone is willing to go there but you know, him and I always kinda like personal development kind of thing. So we’re open to it and we work through our stuff through that. And then we continued on doing that, talking about stuff. And, you know, all that sort of thing.
Eric Worral: 13:50 One thing that I find interesting about that, I don’t remember where I heard this before, but um, I was listening to somebody who was talking about, you know, getting coaching, whether it be relationship advice or investing or anything like that. And this person was specifically talking about relationships and they said, I always encouraged like everybody to go and get some sort of coaching or mentorship or something because he, he made the point that when you’re like completely on the rocks, like you’re about to like serve papers, it’s really hard to make that incremental game because you’re already kind of like, so like butting heads at that point. But if you’re already in a solid relationship and you’re willing to get that kind of relationship advice and go through that process, that the gains that you can make or like exponential versus somebody who’s like really on the rocks.
Liz Faircloth: 14:34 That’s a great, great point.
Eric Worral: 14:35 Yeah. So, uh, going forward from here, you guys started out when you were saying the first time you were at like maybe 30 properties. You come back and join Matt, you guys are working together. Are you part time when you started? Uh, when you, uh, for the second time around, correct?
Liz Faircloth: 14:51 Yeah. So as I had my son 2013, I kind of decided to kind of. And at that point I was traveling a ton with my work and, and I was doing very well in my consulting work. I enjoyed it. It was, um, you know, I learned a ton. I was able to give a ton to the companies I was working with, but I was traveling a ton so I was on the ambulance fund when I didn’t have kids and I was traveling all these different cool places and you know, just awesome, but not when you have kids it becomes a little different. So I decided and I was doing, I did it for 10 years on and off, but, but for 10 years plus and I’m like, I’ve mastered this, I’m good, I’m good with this. It’s kind of like you feel like you’re in groundhogs day. Like, okay, I’m just doing the same thing over and over, rinse and repeat. So I said, um, I think it’s time, I think it’s time to shift. So as I stay home with my, um, you know, my newborn, I, I’m, I’m really going to start to figure out what my next phase is and I can get back into helping our company, you know, you know, get to the next level as well.
Eric Worral: 15:50 Okay. Uh, where are you guys currently at in case somebody’s not familiar with the Derosa group? Like what’s your portfolio looking like these days?
Liz Faircloth: 15:57 Sure, sure. So, so we’re based in, in, like I said, Trenton New Jersey. Uh, we started there, you know, locally investing, uh, we have a 100 plus units in, in kind of like the New Jersey market and then, you know, last year, the last few years we’ve been growing kind of outside our market. Um, and we have about, I think about doing the math here. So we’ve, we have about 350, 350 units right now and we’re about to close on another 177 unit building so. So we’ll be close to 500 by hopefully by the end of the year. We’re supposed to close in December of this year.
Eric Worral: 16:39 How are the nerves with such a big property? I mean, that’s a, that’s a pretty big addition to the portfolio.
Liz Faircloth: 16:44 Yeah. So our, our, our largest to date was, um, a 200 unit last year and uh, and then, you know, this new, this new project, um, you know, it’s interesting. It’s a, you’re raising more money, you know, and that’s my husband’s kind of like specialty and that’s what he focuses energies on. So the, so the number kind of keeps going up as we get into different projects. He’s raising more money and he’s always able to meet it, which is really cool. And it’s something to, to uh, you know, that that’s a strength of his but, but yeah, it’s um, it’s exciting. This is a new project in Kentucky and uh, and you know, the team just keeps getting better and you know, it’s good. It’s like you keep learning and growing. But what’s neat is that I always say to people, if they want to get into apartment buildings, you know, it’s really important to know what you’re doing obviously. But we started with duplexes and we still buy duplexes and smaller multis. It’s not like we don’t, we like, we actually like both strategies because, you know, when you buy a bigger stuff, it takes time to turn it around. So you’re actually not, you know, it’s like, Oh, you get your, you know, oh, passive income, I’m going to get all this money. Day One. No, that’s, that’s not how it works. Especially if you buy a value add building and most of the buildings you want to be value add because then you’re able to, you know, bring investors in and all those sorts of things. Um, if you have your own cash and just you’re sitting on tons of money and just go buy an asset that’s already performing, that makes complete sense. But that’s not the strategy we do. So..
Eric Worral: 18:17 Getting back to the, um, I don’t want to get too much into private capital because I know I talked with your husband quite a bit about that and the, um, anybody who missed it, that’s a one of the live video interviews. We did a facebook page. But have you found, um, you know, I’ve never raised any private capital but I used to work in an advertising agency and I found that sometimes the smaller clients with the smallest budgets tended to be some of the bigger pains in the butt. If you guys found, as you’re elevating with what you’re doing with private capital and getting probably larger investors in, is it a different type of dynamic between you guys and the investors that maybe have a little bit more of a bankroll?
Liz Faircloth: 18:54 You know, it’s funny, we um, we still, we still like a lot of the investors for our deal last year, the 200 unit deal, I’d say we had 35 investors so we have a lot of investors that are, that are putting in. We, you know, our minimum was a hundred grand but we had people who put in 50. I think we have people who put in 25. So we have a lot of just, you know, whether it’s, you know, in that realm we had someone who, a couple of people who put in 500,000. So yeah, I mean I think it’s a mixture of people which is, which is cool and they’re investing with their own money. They’re investing with their Iras, they’re investing in in various ways. So, um, but yeah, as we continue on you, you know, you sophistication I think gets into when you start to deal with companies and you start to deal with all those private equity groups and things were, were not in there in that just yet, or even if you start to do crowdfunding and you start raising money that way, all those sort of things. So we’re not there yet. We’re doing it more, you know, kind of like, I don’t know if they call it mom and pop, I don’t know what the term is really. But, um, where you’re focused on kind of like the expanded group of people that know you and like you and respect you kind of thing.
Eric Worral: 20:05 Okay. Uh, so a question about are, we talked a little bit about Derosa group, but we really haven’t talked much yet about your podcast. So for anybody wondering what that is, that’s the real estate invest her show. So, uh, invest and then her, um, I wanted to talk about that because obviously your show is catered and, um, catered toward the women. Why did you want to get involved in this? I mean, was there something specifically as far as investing that you thought women were underserved or like what was your thinking and philosophy behind that?
Liz Faircloth: 20:36 Sure. So, you know, it’s interesting. My, my, uh, my partner in this her name is Andresa, her and I were having coffee and we were um, we have partnered together on various projects flipping properties as well as new construction projects, mostly in the Philly area and she helps us quite a bit in Trenton. Her specialty is construction management, but anyway, we’re meeting together just on a few different business items and things and having coffee. And it’s funny because it came up, we’re like, you know, how cool would it be to get other people, you know, kind of like the support they need because we were supporting each other. Uh, but not everyone has that right now. Anyone has that kind of comradery, especially with another female in this business because sometimes it gets a little lonely, especially in, in the investing side because I’m dealing with contractors especially, you know, things like that. So we were just like, wouldn’t it be cool to like start a podcast? So we just started talking about it. We’re like, and, and, and more importantly we said, wouldn’t it be neat to give women the support they need in this business since we may not have gotten that when we started or, you know, you know, I, I’ve always been kind of like, oh, you’re, you’re a Matt wife. You know, like I just kind of came along on the ride of the d Derosa group. But honestly all of us, like it was more like I was always the initiator at the beginning of, you know, just kind of funny as I’ve talked to people.
Eric Worral: 21:56 What it’s like being married to such a great…
Liz Faircloth: 21:59 Yeah. Yeah, I know like I don’t know anything but regardless. Yeah, I know. Right. But that’s okay. You know, I, I know what I know and that, you know, it’s cool. But….
Eric Worral: 22:09 So it sounds like you don’t get hung up on that type of stuff. Right? You just kinda breeze by it. But uh, I would think that it’s for our female listeners that are listening to this podcast, if they’re trying to get into like private capital or different situations where they feel like they’re not being taken seriously just because. Do you have any tips or anything that you’ve kind of learned over the years that’s worked well for you? Or just at least mindset?
Liz Faircloth: 22:32 Yeah. No, absolutely. So, and in that is a frustration though sometimes people often will. I haven’t gotten it directly, but I have had contractors speak to me kind of like, I don’t know anything. And you know, when it comes to the contracting side, I know a bit, but I wouldn’t say I know as much as Andresa and Andresa runs are a lot of our construction projects and she’s had contractors say to her, why don’t you run this by her husband? And she’s like, I make all the decision. I’m the construction manager. I got, I’m not running the fight, you know. So, you know, people think that stuff doesn’t happen. It does happen now. So yeah, I mean, and I’ve gotten dismissed lots of different ways and a lot of different circumstances. I used to work with CEO’s of companies in my consulting days and people, people were like, oh, are you here to like, no, I’m here to meet the CEO. I’m helping their company. They’re like, what? I’m like. And I was in my twenties, you know. But anyway, I mean, suggestions. Yes. I mean I think women are poised to be phenomenal investors and I don’t think enough of them are. So that’s my first point. Second point is that I think what we’ve done and we’ve interviewed, we’re in a 43 episodes and one of our interviews, um, carol, her name is, I think was her interview. It was great and we talked a lot about why that is, why his men more involved in investing than women because that’s a good question to ask because it is the case. It’s like a 70 – 30 even less than that split. So I mean if you go on like bigger pockets or our youtube page or any of these sites, membership is usually like 85 to 15. Yeah, 15 percent women, 85 percent men.
Eric Worral: 24:10 You must find that pretty interesting to have that data on your guy’s youtube channel at the Derosa group.
Liz Faircloth: 24:14 Oh I love looking at that and I’m like my goal is to just increase the woman feminine. So I’m trying to put more of our investor stuff there too. But you know what’s fascinating, I think in the conversations I’ve had with really successful women in this business, which, because we interview only women that have been successful in this business are growing their portfolios, is that women tend to be more cautious. Again, total generalization, but it. But it does seem to be a thread that runs through. Like when women make a decision on something, they go for it, but they can tend to be cautious.
Eric Worral: 24:48 So they’ll do their research probably a little bit more.
Liz Faircloth: 24:51 And so what’s interesting though is that we were like why don’t we create more of a community? So we created a facebook group. We have 500 plus members in that group and people are like,
Eric Worral: 25:01 You gotta plug it, what’s it called?
Liz Faircloth: 25:03 Oh, it’s called the invest her community. So yeah, if you just go to facebook and invest her community. Yeah, I’m not good at plugging things. I’m, I’m, I’m like..
Eric Worral: 25:10 Whoa. I’ll tell you what we’re, I think we’re facebook friends. I’m going to post this video version of our podcast to in the facebook group. So if somebody doesn’t remember it, hopefully they see it in the facebook group at Rentprep for landlords as well.
Liz Faircloth: 25:21 Awesome. But what’s really cool about it is that when, when we talked about through is that, you know, if women are cautious, you know, or what have you, and they’re at a meeting, right? And they’re like one or two females and a group of 30 men, you know, what are the chances of people just raising their hand and saying, hey, you know, it’s, it’s a little overwhelming because you don’t know what you’re talking about and you don’t want to look like a moron. I mean, who doesn’t, you know, it makes sense that people are a little kind of cautious. So by creating kind of like a women focused group is not to say we don’t love men or men aren’t awesome and I love my husband, I love men, they’re great, but to create like a community that can support each other and a little more of a safe way, that’s our goal. And then they can go to the conferences and the meetings with men and and go to those meetings go like you’re going to have partners that are men of course and team members and they’re great and it’s so important. I’m not saying just partner with women and talked to women only. That’s not our, that’s not our philosophy. That’s not what we’re up to, but we are up to is helping give women the confidence to do what they need to do for their families and because women are staying home or shifting from traveling. Every woman I saw, many of them I talk to start getting into this business because they had kids and they didn’t want to travel for work. So many of interviews, women we interviewed that cannot today. So I guess the point is, is to know what you’re fearful of nowhere what’s stopping you or start to explore that and then start to get into community with women that can support you. I think that would be huge. Um, or get into a community if you want to be in a community with men that support you. Awesome. Whatever works for you. But I find women I’ve talked to really are appreciating the woman comradery because they feel like they feel a little safer. I don’t know how else to say it. They just do.
Eric Worral: 27:12 Well, I just got to be like, I could join that group and I wouldn’t really understand what you guys were talking about because I don’t have that life perspective. I don’t view things through that same lens. That’s right. I know like my wife has told me things over the years that have happened to her and I was like, get out of here. Like, that doesn’t happen. Doesn’t happen. How am I supposed to know? Because that stuff has never happened to me. Sure. I’ll never know what it’s like to walk into a room. Anything besides being a really tall, bald, white guy.
Liz Faircloth: 27:39 That’s right.
Eric Worral: 27:40 Uh, one of the things you’re talking about too, that I’m reminded me of a movie I was watching, um, I want to say maybe it was a Michael Moore movie. I was like, um, something about like being in the US being the best or something. But one of the, one of the parts of the movie was talking and I’m horrible at remembering facts and I’m sure our listeners are well aware of that, but I want to say it was either Finland. I’ll go with Finland, but they had a, they had a financial meltdown. Just pretty much said we’re done with men leading the finances of this country. We’re going to let women run the show. And after that happened and you know, maybe in the show notes I’ll correct myself on what country it actually was. The finances of this country were just like incredible. And the reason they saw is because men, uh, it was more of like an ego driven decision. A lot of times when you’re making a decision because you, you tend to overcompensate or maybe you’re too confident in your skills and your abilities, so you’re like, oh, I got this, you know, where women were more cautious like you were saying, and they started making more prudent decisions financially and just turned the entire country’s financial situation around. And I heard that. I was like, that’s incredible. Like, I don’t know, it’s just like..
Liz Faircloth: 28:51 I gotta look more into that. I love that. I love that.
Eric Worral: 28:55 Yeah, that’d be great content for your podcast
Liz Faircloth: 28:56 Ya! I gotta get the leader of that. Uh, you know, maybe it was like a, you know, I don’t know if they call them presidents, but that’d be so cool to get the president of Finland on our podcast. How did it turn it around the country with no financial. That’s a good lesson.
Eric Worral: 29:09 So I think that sometimes people shy away from stereotypes because the word stereotype itself has a negative connotation because it was just like immediately bad. But in some situations it’s like there are stereotypes that are there because they’re true. So. And you being a female investor, you even said it yourself that maybe women are more cautious and maybe being able to be honest with yourself and see where that might be, you know, an opportunity rather than a detriment. And I think sometimes people just get caught up in the fact that stereotypes are always just categorized like a bad, horrible thing. I think that there’s opportunities to grow within yourself just because you might know some of those stereotypes. Maybe people are looking at you a little bit differently or listening differently, but you might have an edge because of it.
Liz Faircloth: 29:54 Yeah, absolutely. And, and, and, you know, at the end of the day, we really are, we’re, you know, we, we like to say we’re on a mission, you know, um, because we really feel like called to, you know, help help other women, you know, get into this business but also grow what they’re up to. Like we have women in this group that are probably totally financially independent from real estate and we have women who have never done anything and they’re helping each other. And I think that’s really cool. And that’s what it is, it’s really about, you know, and I, I think that’s most important because I have something to give, I can help women get involved in rentals and the things that we’ve done, things that I’m learning and then I don’t do as well as I want to do. So there’s always something someone can get and I think there’s always something someone can give and uh, that’s the kind of community where we’re creating. So…
Eric Worral: 30:40 That’s awesome. So anybody who’s still listening right now, and I’m sure you are because I’ve thoroughly enjoyed this conversation as well. Check her out on, you have a few different resources. derosagroup.com, correct?
Liz Faircloth: 30:53 Yep.
Eric Worral: 30:53 Okay. So d e r o s a group.com. Uh, I know you guys have a newsletter over there. You guys have a youtube channel, a, you got a bunch of resources. One of the things that I think is really awesome as you guys have some community initiatives that you share on your website so people can check those out. And then of course we were mentioning the real estate invest her show that’s a podcast. You guys can check out so you can find that on Itunes, I’m sure in anywhere else, right?
Liz Faircloth: 31:16 Yeah. They had the websites, therealestateinvesther.com and right on there you can check out all of our episodes and kind of who Andresa and I are, and also, uh, you can click there to join the investor community on the facebook group.
Eric Worral: 31:30 Awesome. Well, thank you so much for your time. Really appreciated that.
Liz Faircloth: 31:33 Yeah. Eric, thank you so much for having me. It was a pleasure.