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Show Summary
In this conversation, Julie P. Goode emphasizes the critical role of networking in real estate investing and highlights the abundance of free resources available for those looking to succeed in the field.
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Investor Fuel Show Transcript:
Julie P. Goode (00:00)
But you know, it offers people affordable housing. And that’s really and truly what is driving me towards that avenue of real estate is that it does address the housing crisis that we have. It allows people to have a nicer place to call home than maybe they could afford on their own. And then it also does another thing.it provides that sense of community.
Kristen (01:57)
Welcome back to the Real Estate Pros Podcast. I’m Kristen and I’m here with Julie Goode, who is a real estate investor. She’s got a lot going on. The owner of Goode Property Management in Texas, the owner of Grit and Grace Solutions in Georgia, and Hawaiian Breeze Homes in Oahu. So we’re going to talk about out-of-state investing, and she’s been able to do all of this within a year, under a year. So I’m excited to get into it. Thanks for being here, Julie.Julie P. Goode (02:22)
Absolutely, thanks for having me, Kristen.Kristen (02:25)
So walk me through your background. Obviously you are in the army and I mean you’ve kind of scaled this business very quickly. What led you to this?Julie P. Goode (02:35)
So honestly, as I’ve been in the army for right around 16 years now, so I’m looking forward to ⁓ the other side, going back to the civilian life. And so I started thinking about what am I going to do then? What’s next for me? I am in the medical field, but it’s been a long journey, ⁓ very challenging journey, especially going through COVID. And so I really have a desire to do something else.just something completely different. I’ve loved real estate forever. And so I started looking at how I could get involved with real estate ⁓ in January of last year, of this year, actually. And then in March of this year, I found a women’s network that really just called to me. There was lots of support, lots of fellowship, lots of just sisterhood, you know? And so I joined them and started learning. And then I started just doing, you know?
Kristen (03:34)
Yeah, that’s incredible. I do feel like, I feel like it’s important for women to really inspire each other and learn from each other in this industry, because it can feel a little, you know, can feel a little male dominated at times. So I think that’s amazing that you were able to find that. ⁓ So, you know, you just jumped in head first. How did you even get started?Julie P. Goode (03:55)
my goodness. ⁓ Well, I broke the golden rule, which is, you know, I invested my money. ⁓ So the very first house we actually just, I just paid cash for because I was like, I don’t, I don’t know about these private money lenders. I don’t know about hard money loans. It’s all very scary. So I just bought it myself. ⁓ And it actually was an auction property that I purchased ⁓ after a foreclosure.And that’s where I started. Definitely not where I stayed, but learned a lot of really great lessons from that experience. And then from there, as I got more educated, right, learned more about how to utilize private money, how to utilize hard money, when to do what, you know, was another another thing that I really think is key to being able to scale quickly is
how do I utilize both options and still come out ahead without putting my own money down, right? So working through all that process and then also staying away from some of those auction sites. I’ve had a lot of communication with other wholesalers. Wholesalers are wonderful. They find us off-market properties that sometimes need a lot of work, sometimes not so much.
And then I’ve even bought some things off the MLS as well. Just it’s whatever is a great deal, you know?
Kristen (06:14)
Right, well that’s great. mean, you seem to be able to source a lot of information very quickly. Was it through these ⁓ networking groups? I’m sure you did your own research as well.Julie P. Goode (06:25)
Yeah, absolutely. So, but what they really taught me and the reason that I will always be forever grateful to, especially to the one like mentorship program that I joined is because it taught me where to get the information, right? ⁓ They offer a lot of information, but it’s kind of like a, you know, a large pond, but it’s only about an inch deep, right? So they don’t go into every single detail.But what they do do is they open my eyes up to all the different things that I need to learn about. And then I reach out from there and get more information and deeper information. ⁓ you know, there’s tons of like Facebook groups and there’s WhatsApp groups and there’s all sorts of, you know, shoot offs from that. There’s the Bigger Pockets Forum. There’s, you know, tons of stuff out there that they give away tons of information all the time. And what’s great is that
They also will just answer your specific questions. If you have something that maybe doesn’t fit exactly into ⁓ one of those categories that they have pre-listed, you just post something on their forums and you’ll get multiple responses. And that, even if you don’t just take it at face value, it gives you enough information to know where to go to find the answer that works for you, right?
Kristen (07:27)
Right.Julie P. Goode (07:52)
what you determined to be your truth.Kristen (07:55)
Yeah, and you know you’re in rentals, you’re in flips, you’re in rehabs, wholesaling, a lot of that. How do you go about figuring out where you want to spend your energy and kind of focusing in on? What does that look like for you right now?Julie P. Goode (08:12)
So I’ve had sort of the shiny object syndrome, okay? ⁓ Being new to real estate, I want to find my niche. Like what specifically speaks to me, what works for me, what is going to make the biggest impact. And so really I’ve tried so many different things. You know, the first thing I did was a flip. ⁓ I’ve acted as a private money lender. ⁓ I’ve tried the ⁓ wholesaling.I have a couple of rental properties as well. So trying that a little bit. I haven’t done an Airbnb, but other than that, I feel like I’ve done almost everything else. And now my next thing is kind of looking towards co-living. But as I’ve gone through each one, I’ve really been able to identify, you know, I like this aspect, but this doesn’t necessarily work for me, or this is really difficult for me given
where I am and kind of the situation that my life has. So I’m very thankful to have had all of those experiences, but identifying exactly where I want to go and what, where I click, right? What really makes it for me and keeps me engaged and excited. And once I identify that, all in, all in, nothing else, no other modalities, you know,
Kristen (09:26)
I⁓
Julie P. Goode (09:39)
That’s that is really where I am. Like I said, my next thing is co-living and I’m like 90 % sure at this point that’s going to be my niche because it offers something that not everything else does. It offers a problem to a nationwide epidemic, right? Which is the housing crisis. It’s in every major city around the country.Kristen (09:52)
I love it.Julie P. Goode (10:08)
So, you know, I’ve always been had sort of a service mindset. I’ve lived my life in service of other people. Not only am I a soldier, I’m also a nurse. ⁓ you know, every everything I’ve ever done has been to help someone have a better life and to help someone, you know, to help people. That is that’s what I’ve done. That’s how I spent my life. And that’s what makes me sleep at night. And so I feel likeCo-living is going to help me continue that service mindset as well as to be, you know, a successful entrepreneur. You know, so I can have the freedoms that I want, but still be able to give back to the community.
Kristen (10:48)
huh.Yeah, I love that. think you touched on two really important things. I definitely want to get into the co-living space and kind of the intricacies of that, but also the fact that, you know,
There only is so much you can learn from behind a computer or behind a desk. You do need to kind of be out there to figure out what you want to do and what you don’t want to do. And there’s so many different aspects of real estate that you can get into. I think that’s great that you’ve been able to try so much and kind of land on this co-living ⁓ sector of it. So tell us more about co-living. Kind of what does that mean and what are like practically how does that look?
Julie P. Goode (12:11)
So basically it’s really as simple as having a single family home that is large enough that you can create additional rooms and then you’re renting out each individual room. So there’s a couple of different models. You know, I like to think of co-living as sort of the umbrella term, right? And then you have different variations of co-living. You have companies like PadSplit that’s known all over the U.S.their models a little bit different than what I’m kind of thinking because there’s all come pre furnished, right? Whoever sets the house up, they furnish the bedrooms, they furnish everything. What I’m looking at is I want people to think about that bedroom as that’s their home. You know, it is the new apartment. And so I want them to come with their stuff, right?
⁓ I will furnish all of the common areas and make sure it is a ⁓ beautiful, safe, inviting environment. ⁓ But I want them to be able to have the freedom inside that area that they’re renting to really express themselves. Having our own stuff, like it’s as somebody who has lived in many, many different hotels and field environments where you don’t have a lot of your own personal belongings, it’s really challenging.
And it’s just, I feel like there is such a comfort in that. ⁓
But you know, it offers people affordable housing. And that’s really and truly what is driving me towards that avenue of real estate is that it does address the housing crisis that we have. It allows people to have a nicer place to call home than maybe they could afford on their own. And then it also does another thing.
I know we haven’t really talked about this, but it provides that sense of community.
You know, at the base of everything else, as human beings, are, we are, we’re just dependent on having connections. You know, we have a huge depressive community and, and epidemic in this, this country where how many people do you know that aren’t on some sort of antidepressant? You know, I mean, it’s, runs rampant.
Kristen (14:11)
huh.Julie P. Goode (14:35)
⁓ And I think that’s just because we have become so focused on computers and you know, social media and all of that. Those are wonderful tools, but it’s never going to take the place of the buddy that sits right next to you. You know, the person that you have a one on one conversation with to go have a cup of coffee with a housemate, right? To talk about how your day went.to someone to go home to, you know, I feel like those things matter, you know, especially as you’re newer to a city or maybe you just moved there for work, which is usually why people move, you know, may not know anybody. So I feel like it’s it’s an opportunity to really provide a service as well as you know, it’s a lucrative business as well. Right.
Kristen (16:11)
I think it’s wonderful because I agree. mean there’s obviously housing crisis right now but there’s also a loneliness crisis and it does give people that sense of community and sense of kind of ownership like you were saying being able to you know bring their own stuff into their room. I think that’s really exciting. That’s very very exciting. So you you’ve been able to do a lot in less than a year. What are your tips for fitting everything in? I mean you obviously have this very demanding job as well.How do you juggle it all?
Julie P. Goode (16:44)
It just comes down to your dedication. How badly do you want to accomplish your goal? So, you know, my day starts very, very early. I am typically up out of bed by three. From three to six, I focus on my real estate business or businesses. And then at six o’clock, like time is up.you know, it’s really a time blocking mechanism. And at that point, then it’s time for me to, you know, go shower and get ready for my other duties, right? So being really regimented and and having that schedule down has let me accomplish so much more than, you know, the first few weeks, I was like trying to do a few things here and a few things there. And then at the end of the week, I was like, what did I accomplish?
Kristen (17:40)
Bye.Julie P. Goode (17:40)
You know,⁓ the one thing I do in the evenings is I make a list of what I’m going to do the next morning. You know, I do that right before I go to bed. I think about
and I’m like, okay, this is what’s got to get done tomorrow. And so when that three hour timeframe comes, I’m an old critical care nurse. I’ve been doing stuff like that for a long time. I check the box, right? I check that box and
I make sure that my things are accomplished in a timely manner by doing that. But it really does take dedication. It takes consistency. That’s the biggest thing. it just takes the mindset that not everything goes perfectly, but that’s okay because we’re growing every day, right? And we learn from the challenges. We learn from the mistakes that we made and I’ve made them, you know?
For sure, I make mistakes all the time and I learn the hard way sometimes, but I’m better off for it, you know.
Kristen (18:46)
Absolutely. ⁓ Can you talk about maybe some of those times where you’ve run into a challenge or things haven’t really gone as planned and how you’re able to recover from it?Julie P. Goode (18:55)
Absolutely. ⁓ funny enough, I have one wholesale deal that I’m working with a partner. So what I did to try to, I guess to really try wholesaling because I found it very difficult with the time difference between where I’m located and where I really like to invest. And so I started working with partners, right? They would make the telephone calls and thenyou know, I would do the advertisement or whatever for contracts that we get. So we have a seller that found out that there was ⁓ a cloud. I’d never even heard of it. A cloud on the title. And I’m like, what does that mean? Well, come to find out. ⁓ Just through, through research or whatever else, like we had a contract with this lady and we were going to take it to title and close on this house and purchase this house.
And then we found this out and it basically was like a whole new title that had been done. So one of the people that she had rented to ended up going and filing a title claim of the deed on that property. And yeah, I mean, and then sold it to his girlfriend who then sold it to her brother who then sold it back to the original tenant. And so
The owner was completely left out of the whole thing. She had no idea. So she really just couldn’t even, she didn’t know what to do. She’s like, how do I get this lifted? She’s like, I’ve talked to attorneys and it’s really hard and blah, blah. So what we did is we reached out to some other people in the network and said, hey, let’s figure this out. Does anybody have a resource? Does anybody have a reference?
We ended up talking with one lady who said, know what, I actually had that same problem in the same state. This is the attorney
that I used and he is excellent with real estate law. He’s very familiar with this type of ⁓ problem. And we were able to get that seller to that attorney. They’re still finishing things up right now, ⁓ but it’s all going to work out. Like she’s going to get ownership of her house back.
⁓ All of the things, you know, she was able to clear those folks from her property and they’ve already left. ⁓ So that whole process is taking place. But it’s just sometimes things come up that it’s like, ⁓ what do I do now? You know? ⁓ But you figure it out. That’s what you do. You just figure it out.
Kristen (21:39)
Yeah, and I’m sure having a great network of people that probably have similar stories, it kind of shows that you really can’t get out alive without, you know, something like that happening.Julie P. Goode (21:52)
Yeah, yeah. And honestly, you can’t do this business without a network. Like you just can’t. If you try to do real estate investing on your own, like it takes an army. It does. And there’s so many, I mean, that doesn’t mean that you have to go join, you know, an expensive mentorship program or any of that stuff. Some people don’t, you know, for time’s sake, it was the best fit for me because I needed a pathway.I needed someone to say, no, you need to learn this and now learn this and now learn that. ⁓ But for folks that have more time than I do, everything that they taught me is readily available, right? There’s tons and tons of free resources out there that will teach you everything you need to know. It’s just a matter of putting it all together. There’s tons of groups that have networks that are wide open for anyone to join.
You know, it’s just putting yourself out there, knowing where to look to find those groups. ⁓ And then your local real estate folks are honestly probably some of the best places to start. So, you know, for anybody that’s like considering looking at real estate.
just look up on Google, you know, real estate commission in my state. You know, it will give you the official website. You do not have to be a realtor to attend meetings and gatherings. They may charge you like, don’t know, I think the one here, they charge me $10 every time I go because they do education during their meetings, right? So they have a speaker that comes and because I’m not a realtor, it’s not included in like my
membership, then I pay a little fee. I learned tons, but what I also get is all of that networking. And many times those realtors are also real estate investors, you know, and they’ve been doing this for a really long time. So they can, they can and do for the most part. They’re very forthcoming. ⁓ The fact that people want to learn, I feel like is really
and attractive quality to them because they’re more than happy to tell me anything I ask. And I love it. Love it.
Kristen (24:05)
Right.That’s what I hear time and time again with this industry. I feel like so many people want to help and so many people are more accessible than you would think.
Julie P. Goode (24:18)
Absolutely, absolutely. I’ve never been told, ⁓ well I’m not going to tell you that. You know, never, never has anyone been less than forthcoming when I’ve asked for help.Kristen (24:23)
Right.That’s amazing. Well, I mean you’ve given such good advice about starting out and scaling quickly and being regimented. I think there’s a lot of takeaways from this episode. Tell everyone where to find you and how to work with you.
Julie P. Goode (24:45)
So you can look for me in Georgia or Texas or Hawaii. The names of the companies that were given at the beginning. You can find me on Facebook, Julie Goode, Grit and Grace Home Solutions, Goode Property Management, Goodness Hawaiian Breeze. ⁓ All of those places you can find me very easily. So I look forward to continuing this journey. If anybody has questions, likeI don’t have a program to sell. don’t have any of that kind of stuff. But like I am an open book. I do not keep secrets and I feel like there is enough need that everyone can succeed. You know, I will not hold back anything. I know I will be more than willing to share. So, you know, I welcome any anyone who’s interested to reach out.
Kristen (25:37)
Definitely. Well, thank you so much for being here, Julie.Julie P. Goode (25:40)
Absolutely. Thanks for having me. I’ve really enjoyed this.Kristen (25:43)
Well, thank you everybody for listening. I hope you got some good inspiration, maybe inspired you to wake up a little earlier tomorrow. ⁓ We will see you back next time. Bye.
