0:00

The way that I coach

0:02

women around real estate is supporting

0:05

them to find the best type

0:07

of investment that suits them

0:09

and that fits the objectives

0:12

that they have and fits the

0:14

goals that they have. So that

0:16

they can create a

0:19

scenario that will have

0:21

them moving forward in the direction

0:24

that they are desiring.

0:26

Welcome to FASCINATING ENTREPRENEURS.

0:29

How do people end up becoming an entrepreneur?

0:32

How do they scale and grow their businesses? How

0:34

do they plan for profit? Are

0:36

they in it for life? Are they building to

0:38

exit? These, and a

0:40

myriad of other topics will be discussed

0:43

to pull back the veil on the wizardry

0:45

of successful and FASCINATING

0:48

ENTREPRENEURS. My book, RELENTLESS

0:50

is now available everywhere books can

0:53

be bought online, including Amazon

0:55

and BarnesAndNoble.com, try your

0:57

local indie bookstore too. And

0:59

if they don't have it, they can order

1:01

it. Just ask them. The reviews are streaming

1:04

in and I'm so thankful for the positive

1:06

feedback as well as hearing from people

1:08

that my memoir has impacted them

1:10

positively. It is not

1:13

enough to be resilient. You have

1:15

to be RELENTLESS. You can go

1:17

to the relentless book.com

1:20

for more information. Thank you so

1:22

much. Tamar

1:26

Hermes is a full-time real

1:28

estate investor, coach, author,

1:31

and founder of Wealth Building Concierge,

1:34

guiding women to become financially

1:36

free through real estate investing and

1:39

creative non-traditional wealth building.

1:41

We talk about how to start investing, where

1:44

to look, and the various methods

1:46

of investing in real estate.

1:48

Now, let's get right into it.

1:53

Well, I am an investor full-time

1:56

in real estate, and

1:58

I work with women and support

2:00

them to learn real estate investing

2:03

and to build their wealth portfolio

2:06

in ways that

2:08

they feel empowered and in control

2:10

so that they can learn true wealth

2:13

building and generational wealth. And then when

2:15

they send it off to

2:18

other people, if they choose to hire anyone,

2:20

they have a better idea about what is going

2:22

on.

2:23

Who is the perfect client

2:26

for what you do to serve others?

2:29

What kind of woman?

2:31

Yes, so the perfect

2:33

client is someone that

2:36

is making very good money or

2:38

has a very large savings

2:40

account and is very unclear

2:43

about how their money

2:45

is being invested, how it's working

2:47

for them, whether or not

2:49

they're actually. Building

2:51

enough income to

2:54

sustain the lifestyle that they want. If they

2:56

decided they did not want to work and

3:00

feels that they are ready

3:03

to stop listening to everyone

3:05

else, tell them the way it's supposed

3:07

to be, and creating an

3:09

understanding for themselves.

3:11

So the way it's supposed to be often

3:13

points to the stock market, right?

3:15

Correct.

3:17

And so clarifying questions.

3:19

How much is a tremendous amount

3:21

of money as far as salary,

3:23

and how much is a tremendous amount of savings?

3:26

What do you need to really start investing

3:29

in real estate?

3:30

So it's a really good question,

3:33

and the truth is, is that there's a range

3:35

of what you need. If you want

3:37

to be an investor

3:39

in real estate where you do none of the

3:41

work, then you need to be

3:43

able to have some money so that

3:46

you can be the money person in

3:48

the deal. If you don't have a lot of money,

3:50

then you might be able to find the

3:52

deal or do some of the

3:54

work that needs to be done to execute

3:57

the deal. So, Generally

4:00

speaking, my clients have money,

4:02

so they'll have anywhere from 100,000

4:06

to millions to

4:08

invest. And the

4:10

reason that a hundred thousand is often

4:13

enough is because one, that

4:15

generally is enough to get into some of the

4:17

larger deals, and two is

4:19

that we use. Leveraging the

4:21

power of leveraging, which we cannot generally

4:24

use in the stock market. You can use that

4:26

once you have a lot of money, but most

4:28

people are not leveraging their stock portfolio.

4:31

So leveraging means that you're

4:33

partnering with generally the bank.

4:36

To give you the rest of the

4:38

money. Maybe you put 20% down

4:40

on your house and then the 80%

4:43

is loaned from the bank.

4:46

When you mentioned hundred thousand

4:48

being enough to get in on some big deals,

4:50

were you referring to syndication deals?

4:53

I was talking about syndication deals,

4:56

although you could also buy

4:58

a half a million dollar house

5:00

if you put 20% down, you

5:02

could do that and do it on your own.

5:05

Certainly, you would wanna spend your very last

5:07

bit of cash because things can

5:10

go wrong and expenses

5:12

occur with properties, but

5:14

you could have

5:16

many choices, which is part of the reason

5:19

why, the way that I

5:21

coach women around

5:23

real estate is supporting them

5:26

to find the best type of investment

5:28

that suits them and that fits. The

5:31

objectives that they have and fits

5:34

the goals that they have

5:36

so that they can create a

5:39

scenario that will have

5:41

them moving forward in the direction

5:44

that they are desiring.

5:45

What would you say in the last let's,

5:48

I know things are so crazy right now, but in the

5:50

last two years, the return on investment

5:52

for real estate versus the

5:54

stock market?

5:56

Well, last year a lot of people's

5:59

portfolios are negative 20%,

6:01

30%, and

6:03

I would say on a average

6:06

in real estate would be more

6:08

at a 5%,

6:10

upwards of 20%,

6:13

depending on the tax

6:15

advantages, which are also another reason why real

6:18

estate is really exciting.

6:20

There's a lot more opportunity

6:22

to take advantage of the tax

6:25

codes.

6:26

Yes, our government really

6:28

subsidizes and encourages,

6:31

Americans to invest in real

6:33

estate. But the only people that

6:35

really know that are fill in the blank;

6:38

educated and already wealthy people.

6:41

Correct. And that's part of the

6:44

mold that I'm wanting to break. Having

6:47

women be involved. There's obviously

6:49

a lot more women that are entrepreneurs now

6:51

that are making great money and

6:54

still, there are a lot

6:56

of women that don't understand investing

6:59

and especially real estate, and

7:01

there's a lot of men also that don't understand

7:04

it. So it really goes

7:06

around. Most people

7:08

that are making really

7:10

good money are not being able to utilize

7:13

the best strategies because they just

7:15

don't have the knowledge.

7:17

Would you take money out of the stock

7:19

market in order to invest

7:21

in real estate with what you have learned? Up

7:24

until today in your life.

7:26

Well, I can only say that I

7:28

have taken money out of the stock market

7:30

with what I've learned.

7:32

Yeah.

7:32

I don't like being in situations

7:34

where I have very little control.

7:36

There's already a lot of variables that

7:38

we cannot control in this world, and

7:41

one of the huge ones

7:43

is having all your money in a stock market where

7:46

the government's pulling strings

7:48

and the stock market is

7:51

pulling strings and it can really

7:53

affect your numbers,

7:56

so I'm not totally

7:58

opposed to the stock market. I think

8:00

that there's a place for it, and I think

8:02

that sometimes people have great advisors

8:05

that really support them and it may

8:07

be a good place for them, but to

8:09

have all your money

8:11

in the stock market is not something

8:13

that I personally think is

8:16

recommended.

8:17

Let's get back to you and your

8:19

business and your origin story.

8:22

I already know a little bit about this, but I'd

8:24

like you to retell how you

8:26

even got started in real estate

8:28

investing. What was the impetus?

8:31

So I started when I was an executive

8:33

in television and I realized

8:36

that I had a great job, but

8:38

that if I left

8:40

my job, I would have

8:42

no income. And so

8:44

in order to mitigate that

8:46

issue, I looked at how

8:49

do. You earn

8:51

money and get rid of your bottom

8:53

line, and the most expensive thing you're ever

8:55

gonna spend is rent. So

8:58

if you wanna get rid of that, you

9:00

need to look at owning and

9:03

having tenants. And that's what

9:05

I did and that, and that's

9:07

how it started. Yeah. Walk us through your first

9:09

deal. You found

9:11

a place how? Well, this

9:14

was over 20 years ago, and

9:16

I found a place just by calling a realtor

9:19

and looking around. What really

9:21

helped was that I knew

9:23

what area I wanted to live in at

9:25

the time I worked at ABC and

9:28

it was in a really cool area in

9:30

Los Angeles, and so I knew I wanted

9:32

to live close to where I worked

9:35

and that made it easier to hone in,

9:37

and I just started looking at places. And then

9:39

the, of course, the hardest part is actually

9:41

saying, "Okay, I'm gonna do

9:43

it." And crossing

9:45

the finish line, looking at the

9:48

numbers. And really, they're really quite

9:50

simple. And that's another thing

9:52

I love about real estate is we're taught that

9:55

it's so complex

9:57

and it's so easy to lose money. And I think on

9:59

the contrary, I think it's a lot

10:01

harder to lose money than the stock market

10:03

because I can see the numbers.

10:05

I know that. My mortgage

10:08

is a certain amount. My property tax

10:10

is a certain amount. My insurance is a certain amount,

10:12

my utilities are a certain amount,

10:14

and then after that everything left over

10:17

is profit. And so

10:19

it's pretty simple equation as

10:21

long as you pay your bills. That's

10:23

your property. Are you

10:26

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10:28

you had a book inside of you? Have other people

10:30

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10:32

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10:34

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10:37

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10:39

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10:41

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10:43

That's P-O-I-G-N-A-N-T-press.com.

10:48

So back then, in that first endeavor,

10:51

were you covering all expenses

10:54

by your roommate's contribution,

10:56

or did you also contribute?

10:58

I did contribute, and I

11:00

think that there were definitely ways

11:03

in which I might have purchased and not

11:05

had to contribute, and

11:08

at the time I didn't know those ways

11:11

and so, we have

11:13

to walk through step by

11:15

step to learn, and that's

11:17

exactly what I did. So of course

11:19

the next deals got a little better and got

11:22

a little better. And then more mistakes as I

11:24

grew and still making mistakes

11:26

today. And that's all part of it

11:28

because we're never gonna achieve anything

11:30

great, anything worth doing

11:33

if it's really easy

11:36

and it just wouldn't be that

11:38

gratifying either. Ultimately.

11:39

Yeah, those lessons and mistakes are actually education,

11:42

right.

11:43

Their education in their life, and they

11:45

teach us to be resilient. And

11:47

they teach us also about

11:50

our relationship with money too,

11:52

because money's so integral to our survival

11:55

and to how we feel about ourselves

11:57

and really ties so

12:00

heavily into our whole

12:02

experience of life because it's our

12:04

exchange for goods and services, for

12:07

our ability to do anything in

12:09

the world and and we need a certain amount

12:11

of it to eat and to have shelter.

12:13

And so I do think that it gets very

12:16

muddled in terms of how

12:18

we define it, how attached we are to it.

12:20

And I think the more that we can make

12:23

money move, and that goes for business too,

12:25

you'll. End up making a lot

12:27

more when you start

12:29

to make bolder choices,

12:33

educated choices. Yeah. Which still

12:35

may not work out, but at least bolder choices.

12:38

At what point, did you really

12:41

start using your investment prowess

12:43

and creating a full-fledged business.

12:46

And you're probably still growing

12:48

and still discovering what you're going to become,

12:50

hopefully, because that's the fun in life.

12:53

But at what point and what are

12:55

all of the offerings that you have?

12:58

So probably around seven years ago

13:00

I realized that I

13:02

was a poor kid that never thought

13:04

I'd have any money and I wasn't

13:06

a poor kid that didn't have any money anymore.

13:09

And at a certain point you are

13:12

looking for different things than. How

13:14

to survive and how to afford the vacations

13:17

every year. And for me it was about

13:19

how am I going to stand in the world and who

13:21

am I gonna be and what do I wanna contribute?

13:24

Back to your first question. And

13:26

so, I always said to

13:28

myself, I really wanna stand for something.

13:31

And I remembered being a little girl

13:34

and sitting in my room being really scared

13:36

about not having money and not really understanding

13:39

why I couldn't do certain things and

13:41

being worried about my life.

13:44

And I remembered that disempowering

13:47

feeling. And it was more, I felt because

13:49

I was a girl, I just felt even more disempowered.

13:51

Cause I just didn't feel that

13:53

acknowledged. And from

13:56

there, I really started to connect

13:59

the dots, realizing that I could help

14:01

women and I could help them with money. And now

14:03

I have a coaching group where I help

14:05

women invest in real estate, learn

14:07

how to grow wealth. And then I also

14:10

have a high net worth group that is

14:12

a multi seven figure group of women. Where

14:15

we really work on higher

14:17

level strategies of wealth building, move

14:20

really quickly and have

14:22

a lot of fun in the process and in

14:24

both groups. I'm always bringing in experts

14:26

from my network and utilizing

14:29

my own skills and strategizing

14:31

with clients to ensure that they

14:33

are moving the needle forward and

14:35

that they're feeling better about where they

14:37

are at. Because most of the time when women

14:40

come to me, they know they have a certain

14:43

amount of money, but they just don't feel like

14:45

they have a sense of where

14:47

it's all going. And a lot of times also

14:50

because money can be uncomfortable in

14:52

terms of maybe. You

14:54

could have a business partner

14:56

that isn't quite giving you the

14:58

share that you're supposed to have, or

15:01

an opportunity in real estate that didn't

15:03

go well. So there's all kinds of scenarios.

15:05

I'm thinking of different scenarios with different clients,

15:07

some with myself, and it

15:10

all comes down to. Addressing

15:12

those situations and moving forward

15:14

with them. A lot of times we don't deal

15:16

with trust. I mean, how many people every

15:18

day pass away with all kinds of money

15:20

and all the properties go to probate

15:23

and families are fighting, and

15:25

there's all kinds of situations that

15:27

aren't dealt with around money that if we just had

15:30

a peer group where we address

15:32

these situations and work together

15:35

and learn from experts

15:37

that have been vetted,

15:39

then we have a better chance

15:41

of making sure we're taken care of

15:44

and we're taking care of the people that we love

15:46

or the causes we love.

15:48

I was thinking about my own real

15:50

estate investing and I liken it to

15:52

this. I've never had a tattoo, but

15:55

I hear once you get one tattoo, you

15:57

kind of need to get another and then another.

16:00

And you know, I am definitely

16:03

someone that grew up with. No money.

16:05

No money at no financial education.

16:08

People owned their homes and my family to

16:10

an extent, but nobody was investing further

16:13

than that. And once you

16:15

get your toe wet and you have

16:17

some success, right? It's

16:19

a little bit intoxicating to. You

16:22

know, consider this deal. I was down in Palm

16:24

Springs last weekend. A broker

16:26

was like, yeah, I have this really cool 52

16:29

room Palm Springs hotel

16:31

that we're buying for 2.2 million

16:35

to turn into short term rentals.

16:37

I'm like, 2.2, I'll

16:39

take it. Right? Because to me

16:42

now I know what it actually would take to make that

16:44

investment and it's not as

16:47

abominable as it seemed like before.

16:50

So do you see that happening with

16:52

both yourself and your clients?

16:55

I do. And then I also see

16:58

all the questions and all the variables

17:00

that need to be addressed in order to see whether

17:02

or not that deal would work. And

17:04

a lot of deals look really

17:06

good until you look at the reality

17:09

of them and you really look at the risk. Cause there

17:11

is risk in real estate, you can lose money. And

17:14

so it is important

17:16

to really weigh out all

17:18

the variables. And I

17:20

do think that it is addicting, although

17:22

while I have more than one property, I

17:25

don't have more than one tattoo. I only got

17:27

one tattoo in Thailand and

17:29

that's it. I don't think I'll ever get another one. And

17:32

the guy the, it was a Buddhist monk

17:34

and he hammered the tattoo

17:36

into my back cuz it was an old

17:38

fashioned way and it was

17:40

just, I was in the moment, I wasn't even,

17:42

I wasn't drinking, I wasn't under the influence

17:45

of anything. I was just kind of

17:47

in the mode of the spirit and

17:49

the incredible experience.

17:51

That's amazing. I need to see

17:53

that the next time I see you. Okay,

17:55

so now let's talk about the structure of your business

17:57

and your team. You

17:59

are doing deals for yourself. You're also

18:02

coaching women, one-on-one,

18:04

but in the two groups as well. So

18:07

how do you manage all of that?

18:08

It can be challenging, just like

18:10

the life of any entrepreneur. I

18:13

do get help. I do have bookkeepers,

18:15

CPAs, I have in

18:17

ea. I have. People

18:20

that help me with some social media

18:22

and I'm constantly hiring and growing and pivoting

18:24

and, and also

18:27

one of the best ways to manage too is

18:29

to take off of your plate the things

18:31

where you're getting distracted. So somebody

18:34

once had said, some coach once said to me, have

18:37

a not to-do list. So

18:39

there's are sometimes things that come onto

18:41

the list where they kind of get on the not

18:43

to-do list right now. And

18:45

that keeps it calmer. And I think the older

18:48

and more sophisticated you get as a business

18:50

owner, the more you realize that not

18:52

to-do list is really the key to your success.

18:54

Yeah, that parking lot list. I

18:57

have one. And you know what? It keeps me engaged

19:00

because I know for sure once I finish

19:02

a project or I get to a milestone, I'm

19:05

never gonna be bored because I've got this back

19:07

list of to do

19:09

ideas. So I love that.

19:11

Yeah, that's great. I love that.

19:13

You had said CPAs. Do you have

19:15

more than one?

19:16

So I have a CPA team, and

19:19

on that team, they're up to around,

19:22

Five CPAs that get on a call with me,

19:25

just double checking. And within that there's

19:27

bookkeepers and there's

19:30

different financial people

19:32

that I have on

19:35

my payroll at times,

19:37

tax strategists. And I'm

19:40

a member of masterminds like when we met

19:42

at Genius Network. And so there's all

19:44

kinds of places where I am exploring

19:47

and learning and meeting people.

19:50

So as of today, what

19:52

are you really focusing on to

19:55

grow the business for the rest

19:57

of this year? What is a strategy that

19:59

you're like, this is it, I'm

20:01

focusing on this, I'm putting the other things

20:03

on the parking lot.

20:05

Well, the first thing is, as

20:07

far as real estate goes, I have, Project

20:09

with a partner where we're doing a lot of

20:12

prefabs, which means modular homes.

20:14

And so those are the main

20:16

focus of my active investing for the rest

20:18

of the year. And so when other deals

20:21

come along, like if somebody said, do you wanna pick

20:23

up this deal? Unless it was a smoking hot

20:25

deal, I have a couple that have come across that

20:27

I've kind of engaging in, but

20:29

for the most part it's a no. And

20:32

then as for my work,

20:34

it's pretty streamlined in terms of who

20:36

I serve. I don't really go out

20:39

of the realm too much. So

20:41

more can come into the structure.

20:43

So like if you were to join the group coaching program,

20:46

you would join that group

20:48

that's already in place. So it's not

20:50

like I have to create a new group each time,

20:53

or a new content or a new subject.

20:55

We're all. Working on a similar

20:58

trajectory and even though

21:00

everyone has different projects in there and finds

21:02

that project through the financial

21:05

assessment that I off, I'll do an hour financial

21:07

assessment with every new client. Then

21:09

from there they're really able to forge

21:12

ahead and take action.

21:13

And how do you, and where do you source your

21:16

potential clients for coaching and such?

21:19

So clients come from everywhere.

21:21

A lot of them are word of mouth and sometimes

21:24

it's just over time from have been been on

21:26

podcasts from my book, the Millionaires

21:28

Mentality, and I am,

21:30

one of the things you asked me, another rock

21:33

that I'm working on this year is to start my podcast.

21:36

So I do have some strategies

21:38

in place right now working with specialists

21:41

that helps. Hone in

21:43

on the podcast message and all

21:45

of that. So that's in the works and should

21:47

be done by the end of the year.

21:49

Great. And lastly, you have two kids,

21:51

right?

21:52

Well, I have, yes, I have two. And then,

21:55

uh, my stepdaughter from my husband's practice

21:57

wife.

21:57

So you have three. You have three

21:59

kids. Oh my gosh, I love that. Are

22:02

they interested and do you train

22:04

them on these ideas

22:06

so that then they go out into the world and

22:09

they're much more educated and knowledgeable and ready

22:11

to pull the trigger if they're interested?

22:14

That is such a good question. And

22:16

my son just gave me a Mother's Day

22:18

card that says, strong, confident,

22:20

empowered mothers

22:23

raise strong, confident, empowered kids.

22:25

So I think that even though

22:27

my kids aren't directly

22:30

involved right now, in

22:33

real estate and in investing. They

22:35

have a very good sense of money. They

22:37

have very good feelings around

22:40

earning and they're able to earn. And

22:42

I am working on my son. I'm hoping my

22:45

son will take over the portfolio

22:47

and I'm always trying to teach him.

22:49

And he hasn't. He's 17, so he hasn't quite

22:51

gotten the bug yet, but I am working

22:53

on that. He's my hope. Cause my, my

22:56

other daughter wants to be a doctor. And then the

22:58

other one, my stepdaughter is a musician. So

23:01

I don't think that's gonna happen.

23:02

You never know though.

23:03

You, you never know.

23:04

Never Once they get a taste of it.

23:06

You know how those musicians are.

23:08

I know. Hey, listen fast

23:10

recovering. For more

23:12

information, go to the show notes

23:14

where you're listening to this podcast. Want

23:22

to know more about me, go to

23:24

my website, NatashaMiller.com.

23:28

Thank you so much for listening. I

23:30

hope you loved the show. If you did,

23:32

please subscribe. Also, if

23:34

you haven't done so yet, please

23:36

leave a review where you're listening to

23:39

this podcast now. I'm Natasha

23:41

Miller. And you've been listening to FASCINATING

23:44

ENTREPRENEURS.