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How this developer is helping Indianapolis reclaim economic prosperity | Ep. 65
Thirty city blocks, 12,000 potential jobs, and a blank, urban canvas long for a community revival. Thanks to Ambrose Property Group, lead by President Aasif Bade, that urban resurgence is on its way. The projected $1.4 billion development received its name Friday - Waterside; creating an opportunity for another district to make its mark on this great city. On this episode, we sat down with Bade who spoke about how any commercial real estate company can create success within their own community. Show Notes: MATT: A city skyline cannot exist without a property to build on, a design to construct, or a vision to bring to life. Here in Indy, 30 city blocks of blank canvas space exists on the city’s southwest side, ready to welcome a development that will last for generations to come – adding another dimension to Indy’s skyline. So how can a commercial real estate company most effectively create success? Ambrose Property Group shows us how - Let’s get to the podcast… ||ROI MUSIC PLAYS|| MATT: Welcome to another episode of the ROI Podcast presented by the Indiana University Kelley School of Business, I'm your host Matt Martella alongside Associate Dean Phil Powell. If this is your first time tuning in to the ROI Podcast, we are glad to have you. We put out a weekly episode that helps organizations make better business decisions. For those of you who enjoy our show, it would be such an honor to us if you could head to your favorite podcasting app and leave us a review. And finally, if you would like to get a hold of us, send us an email to ROI-pod, that’s email@example.com. Last year, the Indy Start released an article that names Indianapolis the 2nd most resurgent city in the country – and that was according to realtor.com. The average home price in Indianapolis is just under $310,000. That’s a 20% increase since 2012. The city has also seen a 10% increase in population. PHIL: And according to our own Kelley Faculty and Economists, Kyle Anderson, he stated in his economic forecast that the Indianapolis-Carmel-Anderson economy added almost 25,000 jobs – a 2.3% increase since 2016 with signs of strong growth. According to Kyle, the blend of the low cost of living and the growing number of startups are the major factors why this urban resurgence is number 2 in the country. So as we work to acquire more corporations within our downtown environment, it’s up to the commercial real estate industry to get ahead of this growth because it’s those office spaces and apartment complexes that will support the ever increasing demand. MATT: On this episode, we sat down with the President of Ambrose Property Group, Aasif Bade – a Kelley Business School grad and commercial real estate expert who manages an impressive property portfolio that includes the old GM stamping plant on the city’s west side. Aasif shares the three keys for his real estate success. Aasif Bade: We literally started the business in the height of the recession. We were able to capture some great opportunities in the real estate market at literally the bottom - this building we're sitting in today was purchased in 2011, it's right on the circle in downtown Indianapolis. What differentiates Ambrose from the beginning is the cultural mindset to, number one, focus on our customers, employees, and everyone that's involved with our business, and have a one-to-one people-focused mindset. Number two, we're always conscious of the environment: we operate from a community aspect. Number three, we remember what's happened. Some of the basic economic lessons we learned in the Kelley School of Business [are] not to get ahead of ourselves and remain cautious… every day, every decision we make, we recognize there's ups and downs in the economy, and while we've been successful doing business deals during the downturn, we recognize that it will probably happen all over again in the near future. PHIL: (Aasif’s accomplishments, his presence in Indianapolis, any other thoughts) MATT: As commercial real estate leaders, or those looking to get into commercial real estate, the first key to success is, it’s all about timing. Aasif Bade: We've probably made these mistakes too, the two are buying/selling too early and buying/selling too late. I know that sounds like a simple answer to your complicated question, but ultimately, real estate is all about timing. There's a lot of factors that impact everything, but we've benefited from incredible timing that I by no means had control over. While our firm had a hunch, we didn't know, we just happened to get into the business at the right time, and I don't know if I would recommend to my 26-year-old self to do it all over again or not, it's worked out okay, but it's all about timing. PHIL: And it’s the timing that allowed Ambrose Property Group to purchase the old GM stamping plant. History of the plant Employed 6,500 people during its peak 120 acres of land – or 30 city blocks What it means to the city The GM plant carries deep history with the city of Indianapolis MATT: The second key for commercial real estate leaders to success is to respect the city and the history of your property. Aasif Bade: Indianapolis has had a great run over the last fifty years. Our city has been a model around the country for public, private, philanthropic partnerships, everyone here works very well together. We've had great mayors and governors of both parties, great leaders in the public sector and the philanthropic world all work together, and I think we have a reputation around the country for that. People like to do business here and come here to be in this community. With respect to the GM stamping plant. We try to recognize and appreciate the history of that site. It has been primarily a manufacturing employment center for well over 100 years. That speaks to us because we think about the families and generations of people that have worked on that site - they earned a living and literally there's been generation after generation that's done that. A lot of the neighbors in that neighborhood and adjacent ones [have had] families have worked on that site, and [perhaps going as far back as] great-grandparents who did the same. I learned an acronym a very long time ago from one of my mentors, and I probably use it daily: STEP - See The People/See The Properties. I especially use that one when we are over-analyzing some type of project - there's a lot of times where I say we should just go for a walk to the GM plant. After going through 20 pages of design documents, I'd rather just go touch it, see it, and feel it. We're in real estate, it's a visual business. I heard a saying this morning that downtown is a state of mind, and in a lot of ways, we're in the people business and place business. A lot of that is state of mind and much more subjective than objective. I think seeing the people and properties are important - sometimes drawings on paper or in conference rooms get you so far. I encourage myself and others to get out of the office and explore that state of mind. PHIL: Aasif’s projected project cost: $1.3 Billion Plans to invest $550-million into site over next 15 years Plan includes some 2.7 million square-feet of residential, office, commercial, hotel and retail assets He estimates 12,000 permanent job creations when fully developed See the People/See the Properties – give your reaction Why it’s important for city Why it’s important for people How it can affect your image as a property owner if done wrong MATT: Once we understand that it’s all about timing, educate ourselves about our property so we can embrace a deep respect for our property’s history within the city, the third key for commercial real estate success is to involve the community throughout the development process. Aasif Bade: Our goal is to engage with the community, neighbors, other organizations, the public at large, and public enterprises. We feel a huge weight of responsibility on what will happen there, and we also recognize that just like in the past 100 years, we know may not be around for the next 100 years, and we're just trying to handle it properly for the years that we're directly responsible for it. As you may be able to tell, the GM stamping plant is an enormous project and it's really important. A lot of focus is usually placed on the numbers, the dollars, how big it is, how long the project will last, how many square feet it'll be...the moment for me that crystallizes it and gets me sentimental is number one, having been born and raised in Indianapolis, it's a big point of pride to me to be able to be the owner and developer of that, shaping 30-35 city blocks of downtown Indianapolis… having conversations with folks today who live within eyesight of that property who inherited their home from their parents and also whose family worked at the GM stamping plant. They wanted us to develop it and they encouraged us to continue the pursuit even after 8 years of going after it and not getting it multiple times. They wanted to engage with us and they gave us recommendations of what they thought should go there. That engagement with real people who don't own any part of the development, yet have so much more ownership over it from a state of mind perspective than I ever will, having that relationship and encouragement is what gets me excited as opposed to the physical assets. It goes back to passion. I like to talk to people, to see things develop, have relationships, and have an impact with the community at large. That relationship with those folks, having hired someone on purpose on my staff in this office whose sole job is to engage with the community, report back to the team, and always be in touch with the community, we think that's how the community will continue to get better and how it's gotten to the point it has because of so many people that came before us doing the same thing over the number of decades. PHIL: Comment on “these people don’t own any part of property, yet have so much more ownership from a state of mind perspective.” It’s importance to tie the community together Why owners should not ignore the people who have more “state of mind ownership” then they do However, also understand everyone cannot be made happy – yet we can be respectful MATT: So let’s recap… Ambrose Property Group, led by Aasif Bade, not only started a successful commercial real estate enterprise in the midst of a terrible recession, but also acquired a major piece of Indianapolis history through their recent purchase of the old GM Stamping plant on the city’s southwest side. Through Aasif’s real estate journey, he gave us three keys for his company’s success that us as leaders can embrace to better our organizations. The first key, it’s all about timing. Not only was the timing in his favor when he founded Ambrose Property Group, it was also timing that allowed his company to seal the deal with the old GM plant. It may have taken over eight years and multiple offers, but the timing in which he made them paid off. The second key is to understand the history of your property and embrace a deep respect for the people who have more of a “state of mind” ownership of your land. For Aasif, his property gave generations of families the jobs necessary for their success. As he works with developers, he constantly reminds himself, “see the people/see the city,” of that history to better shape the Indianapolis skyline. Finally, the third key is to involve the community inside developmental planning. It’s impossible to make everyone happy, however it’s the people who will work on your sites, live on your sites, and even travel for leisure to your sites. Allowing the community to have input on your development gives them a major share in feeling like they own that property, which in turn gives them a sense of pride that will one day etch your company’s building inside the minds of families for generations to come. This has been another episode of the ROI Podcast presented by the Indiana University Kelley School of Business. I’m your host Matt Martella, alongside Associate Dean Phil Powell – where we work hard to bring you a weekly podcast that helps organizations make better business decisions. We’ll see you next week.
The ROI Podcast
Aired 7 months ago 14:51
Three tips to help land that C-suite position | Ep. 54
How many times do we feel like we're "stuck" in our career? Or as though our personal growth has plateaued? On this episode, we spoke with Traci Dolan who shares her success as the former CFO of ExactTarget. She offers three, practical tips to launch your career to the next level. Show Notes: MATT: As we approach the 10-year mark since the 2008 financial collapse - as a global market, we’re still picking up the pieces. However, the economic comeback we’re seeing across the United States shows favorable conditions for both new business creation and corporate development - which in turn means better chances for your start-up business’s success or that big promotion. On this episode, we’re talking with a CFO who offers some practical tips for professional growth. The sun is rising on our financial landscape. How will we make the most of it? Let’s get to the podcast. (The ROI Podcast Music) MATT: Good morning, and welcome to another episode of the ROI Podcast presented by the Indiana University Kelley School of Business. I’m your host, Matt Martella, broadcasting from the downtown Indianapolis campus with my special guest, associate dean of academic programs, Phil Powell. Hey Phil… MATT: Now Phil, we’re only a few months away from the 10 year mark since the horrible 2008 financial collapse, that many experts are calling the worst implosion the global market experienced since the Great Depression… leaving so many families in turmoil and creating a highly conservative approach to the way both businesses and families spend their money. However, the global markets over the past few years indicate a sort of “bounce back.” PHIL: You’re right! The confidence people have in the economy in recent years is really reflected in the strength of our current global market. And that’s breathing new life into the start-up business environment as well as expansion and growth in corporations. Simply look at the recent trends. According to the Bureau of Labor Statistics, start-up firms were at an all-time low in 2010 following the collapse. Jump to 20-17 and we saw the number of new business creations grow by close to 100-thousand since 2010. Just last year, start-ups gained 1.7 million jobs since 2016... and the growth seems to continue. MATT: And major corporations seem to be reaping the benefits too. In fact the U-S Bureau of Economic Analysis are calling the first quarter of 20-18, just the first quarter ALONE, an all-time high for corporate profits since 1950. U-S corporations have profited close to 1-hundred-ninety billion dollars this year. That’s some serious spending power if you’re sitting in the executive suite to grow your corporation. PHIL: And this should also give those of us who have been kicking the bucket around, waiting for the right time to start a business some hope and encouragement to finally take the leap. MATT: Let’s talk about that for a moment. Following the 2008 financial collapse, we experienced a MAJOR slow-down in small business creation. In fact, new business start-ups fell by almost one-hundred-50-thousand, going from just over 6-hundred-thousand new businesses in 2006 to barely crossing the 4-hundred-fifty-thousand mark in 2014, according to the U-S Census. What do potential entrepreneurs need to do to overcome their fear and take advantage of this incredible economic growth? PHIL: Well it’s simple to hear, but hard to implement. The bottom line is they need to be confident. They need to trust the economic trends and plug themselves into this financial growth our country is experiencing. Starting a business will always come with uncertainty, fear of the unknown, and will most definitely push a new business owner’s comfort-level, no matter how the market is doing. But seeing how far we’ve come since 2008, I feel if there was ever a time to take that chance for your new business, that time is now. MATT: One of our marketing professors, Kim Saxton, sat down for an interview with former CFO of ExactTarget, Traci Dolan, who most certainly can speak about pushing personal comfort levels. Not only did she rise to the CFO of a tech company WITHOUT a technology background, but as CFO of a different company, she led the decision to take a public company private. That alone would create a huge level of uncertainty. She says that no matter where we are, whether we’re about to start a business or on the tip of the spear for making uncomfortable business decisions that ultimately could affect our career, we have to be comfortable BEING uncomfortable. Traci Dolan: “You can't be paralyzed by fear - my greatest achievements in my professional career have been because I put myself out there a little bit, outside of my comfort zone, either applying for a job that I really didn't know if I was qualified for, or taking the lead on some project that I might've not had the skill-set and knowing it wasn't going to be perfect. I often see people struggle with decision-making because they're fearful of making a mistake, and it's paralysis to an organization if that happens.” PHIL: This is not simply for those of us trying to start our own business either - this can apply to those of us in the corporate world who have sites on upper management positions, director roles, or even the big “C-level” office. Those looking to grow themselves in the professional world have to constantly push their comfort levels. I’m not saying we make radical decisions without doing our research first, but we cannot expect to grow ourselves as a corporate professional OR an entrepreneur by staying complacent. If we’re struggling with complacency and don’t know what to do, the best advice I can offer is find those people who have succeeded. We have to surround ourselves with those who have our dream jobs, our dream business, or are successful in an area we want to succeed. Take them out to coffee and simply listen. Find out their personal habits, see what they’re reading, ask them what their success looks like, ask them about their failures, but more importantly, ask them how they overcame defeat. This will help us lay down tracks for our own professional goals without having to “re-invent the wheel” so to speak. MATT: And if we’re in a position that affords us the power to hire, Traci says to surround ourselves with the best, then GET OUT of their way. Traci Dolan: “Hire people smarter than yourself, let them grow and develop, and hopefully [they'll] take the role you were sitting in so you can keep growing too. Often times people are less inclined to do that, they're either micromanaging or they're somewhat concerned that someone's going to "up-stage' them - I think that's [the] absolute wrong way to look at it. By bringing on the smartest people you can find and actually trying to fill the gaps that you yourself don't possess is the greatest way to keep growing, developing, and ending up in the C-suite.” MATT: The beauty of these principles Traci shares is they’re scalable for entrepreneurs and corporate professionals. Because no matter what our title or where we fall in the corporate chain, we will have to make decisions. Some decisions will affect our organization, but MOST of the decisions we make will affect us personally. PHIL: That’s a good point. Because even unmade decisions – decisions we are afraid to make or decisions we chose to avoid, are in fact a decision. In those moments, no decision BECOMES our decision. And people around us see that. And a lot of that stems simply from a fear of failure. As American’s, we have a culture of “winners” and “losers”. If our decision succeeds, we turn a huge profit, hire the perfect candidate, or get ahead of our competitors, we’re a winner. Yet, if we fail, we decide that person doesn’t fit our company’s morals, lose short-term profit, or get some bad press, we become a “loser”. And that’s what business leaders have a hard time navigating through - they simply don’t know how to let go of that winner/loser mentality. MATT: And for many, it’s that fear of being viewed as a “loser” that prevents people from even trying in order to stay in their comfort bubble. But that view has to change because no matter what, life always guarantees us failures. It’s not about winning or losing in business, it’s about growing or stagnating. If Traci let her failures define her, I would bet my money that she would simply be crunching numbers as a public accountant still. However, she took a different approach when it came to failures… Traci Dolan: “I’m sure my life is full of failures, but I just kind of dust myself off and don’t look at them as that way. I look at them with learning because tomorrow I'm going to fail at something - I'm not sure what it'll be, but it won't be what I failed at today because I will have learned and picked myself up to keep going.” MATT: And what better example of how to navigate through failure then watching Mark Zuckerberg, CEO of Facebook, deal with some poor business choices recently. Let’s study Facebook for a moment. Here we have a multi-billion dollar company, make some poor business choices that affect us, the consumer, on a very personal level. We’re talking about a lot of people’s personal information not valued the way we would expect. We even find Zuckerberg having to testify before Congress, gaining the attention of major national media outlets. For most, this would destroy their reputation, profits, and potentially their company. And who knows, this could still blow up in their face, but at the moment, their stock price indicates quite the opposite. So, what if Zuckerberg let fear overtake how he leads? What if he let the failures or his anxiety cripple his decision making process? PHIL: It would be corporate suicide. Despite all that’s still stacked against the future of Facebook, they’re essentially turning their lemons into lemonade. Sure it’s coming with a high financial price tag - and I guarantee Zuckerberg feels the anxiety of his decisions, especially with the microscopic scrutiny of the media. But the BIG take-away is, he’s still making decisions and moving forward. And even though they may not all be the right ones to make, the fact that they’re made gives investors the confidence they need to put their money back into stocks. Despite their bad press, they closed at $207.23 per share on July 16th. That’s the highest they’ve been since they went public! So if you’re one to become overwhelmed with anxiety in the midst of making decisions, one practice to build your confidence is to know what’s going on in your department or your organization as soon as possible and make the best choice with what is known. Traci Dolan: “I think the sooner I can come up to speed on what's going on in the organization, the more effective a decision-maker I will be. I haven't been mentored to do that, per se, but just by career history, it's just evolved.” PHIL: Fear of failure and the anxiety that comes with decision-making put serious growth stoppers in our path to professional success. We have to remember that these emotions are normal for everyone. What separates those who are successful from those you are stuck are, they learn how to overcome them instead of being overcome by their emotions. MATT: Finally, it’s extremely important that we don’t limit ourselves by saying it cannot be done. In order to be a leading business owner or a top-level executive, we have to let go of the “we can’t do this” mentality. Traci quickly learned her focus as a public accountant had to expand past the numbers and spreadsheets. This shift in seeing the big picture and how to make uncomfortable choices ultimately landed her the coveted “C-Level” position. Traci Dolan: “What becomes really important is being a strategic business partner - once you establish yourself as that, and understanding the business and trying to find ways to say yes so that the answer isn't, "No, you can't do it," but it's, "No, you can't do that, but let's figure out how we can do this so that it's a win for the business.” —BUTT TO — “In fact, if you're not working with the business and you're sitting in your office cranking on spreadsheets, pretty soon no one is going to want to talk to you, and you've lost your strategic value to the company.” || MUSIC PLAYS || MATT: So let’s recap. The key is to start. Start the business, start learning your organization, start finding a mentor, or start embracing the uncomfortable growth necessary for success. Next it’s about shifting our perspective of failure - whether in fear of failure or anxiety of decision-making - we have to see failure as fertile grounds for personal growth. Finally, we CANNOT limit ourselves with a “can’t do” attitude. We have to figure out ways to make it work so our business and we ultimately succeed. || MUSIC PLAYS || MATT: Thanks for tuning in this week. As always, thank you Phil for being here today. If you enjoyed this podcast and want to discover more, check out our archived episodes and don’t forget to subscribe. While you’re there, tell us what topics you would like to hear, leave a review, or just say hi. I’m Matt Martella and this has been another edition of ROI Podcast presented by the Indiana University Kelley School of Business. || MUSIC FADES OUT ||
The ROI Podcast
Aired 5 months ago 15:51
From Almost A Million In Debt To Millionaires!
I love hearing from the people and businesses. Cricket who went from over a million dollars in debt to over a million dollar net worth when it all been done. We paid one million fifteen thousand dollars back in seven years. Seven years life can knock you down. Now might have some listeners right now that find themselves in a deep hole. What some advice you tell them can choose to be a victim or you can choose to face this and just be overcome, or you know, if you just keep on plugging one step at a time, you're going to get up the mountain. It's not just about the getting out of data becoming a millionaire. That's the I'm so grateful this sitting at our lake house with her husband, John telling her story of gratitude and that gratitude is connected to her past present and future. But even in the past, as a young woman, cricket was told about the importance of safety. I started work when I was twenty seven physical therapist, and I went to retirement explanation. They showed us how with regular savings over a forty year career, how it was really possible for someone to become a millionaire with an average income, and I thought how cool it that would be to become a millionaire. And so I started saving. I regularly saved in my 401K. And then I met my ex husband and he didn't like for when ks and then the two thousand crash happened. And so he really didn't like four one case. So we pulled the money out of my 401K and bought rental property. Think about your past. That you've done those problems that even now are trying to pull you down. Trying to tell you a different story than the one you want for your life as for cricket. She was stuck in her own back story. I got into no money down real estate and bought into the lie of how wonderful no money down real estate could be and had mortgaged my former house with my husband was married to then I ended up with fifteen rental properties and eight hundred fifty thousand dollars in debt. The marriage was falling apart just didn't see how it could be possible that we could get out of the hole that I had created. He wasn't keeping up with his and since all the debt was in my name. Eventually I said, all take all the debt, and I'm not blaming him because I made the decision to to go forward with that. But when I look back there were a number. Times where I would have this goal insight and I would allow other things to sabotage. Cricket was very aware that she needed a simple plan, something she could grant onto in create momentum in her life and opportunity to move forward. But when she was presented with that plan, she still had to look deep within and ask if she had what it takes to change her situation. Some choices when I was young, that made me have a lot of shame and I felt like odd couldn't possibly love me the way I am. One of my friends heard me and he pulled me aside and he signal I'm, I'm teaching this thing church. Actually, I don't even think he would have said Turks because it would made me run because I was not going to church at that point. He said it's financial peace university. He might want to check it out and I was desperate. And so I I, I listened if I hadn't been so desperate for help with the finance. Part, I probably would have walked away in would've been unbeliever. The rest of my life, financial peace university provided everything, cricket needed goals, budgeting, investing, and getting back on track with saving well. So despite her hangups, she decided to respond to the challenge and though she is now married to John vague. I went through financial peace as a couple knocking out everything including his remaining debt, and together they could see their future. I got that hope back of not only I could get out of this huge today for the time I was single, but that could possibly have that goal of when I was twenty seven becoming a millionaire. If I did what Dave said of paying off debt and saving and living on less than we make. So we worked really hard and it was so refreshing to have someone who is on the same page because we paid one million fourteen thousand dollars in debt in exactly seven years. It was really. Hard. There were times when I would have wanted to just throw my hands up, but we didn't. We just kept on just like Dave talks about it's it's just like a a marathon. We just kept on going and going and one day we looked up and when we were there future, do you wanna have regarding retirement or even having a net worth of over a million dollars like cricket, can you see it yet? If it's obtainable for someone like cricket, who had to dig so deep? Why can't it be for you? Are cop trillions running over and it's a lowering us to to not only have enough for our family. I have no doubt that we have enough in retirement. We can truly blasts so many other people because we know we're going to be okay. It is hard to talk about getting this kind of money because we don't want to be boasting. We're just to average individuals who worked hard and applied a program, and it's God story. It's not just about the getting out of debt or becoming a millionaire. That's that. I'm so grateful. It's not just financial. It really is life changing. This is. You know, I can't hide anywhere. How are you. Really, really. Well, you have no idea how excited I am to talk with you. I have just enjoyed the story, the information I got about what you've done, what you've achieved, and I'm excited for other people to hear it as well. So thank you for taking the time to talk to me. Well, I appreciate you. Listen. You mentioned having had the dream of being a millionaire at a young age. What was it becoming a millionaire gonna do for you. Wanted to. I. Our best, and I worked with many people who because of their financial situation living in conditions that weren't very conducive to them when they were older and they didn't need steps to get in and out of their house, or they have the money to be able to renovate a bathroom one. I've been within the wheelchair and I didn't want that. I wanted to be able to be free and to to to not. You know, it's not for lavish lifestyle, but I, I didn't want my financial situation to dictate that. Perhaps there had to go to a nursing home because I couldn't live in my own house comfortably when I was eight years old. No, I understand it being able to have freedom in having options. It's a big deal. I can totally understand that. So despite wanting to become a millionaire you, you created a pretty serious debt situation. Would I I found financial when I first got my my bottom. I. Owed almost seven hundred and fifty thousand dollars just myself and I didn't know how it's gonna pay it. I was in the middle of bad divorce. And so I said, after a couple of years of struggling with that, okay, take on all the debt, and I even we'll have to pay off your health to be able to to buy you out of this debt. And so I took on the responsibility of of all the the tenant houses that we had had bought during the time of marriage. And so that was about seven hundred and fifty thousand dollars all in real estate. No, I my dad could be out with the divorce and I opened on a bottom new car because I thought, well, you know, I I was owning this amount of money and this is the four financial peace university. And I'd seen so many other people who had really nice cars and I thought, well, you know, I'm gonna good beef income. I wanna I wanna new car and and. What kind of car did you buy. A, what. A little pocket cars spend twenty eight thousand dollars for a car so that you can save money. I guess. Right? You've learned listen to you. You're old other side now you know how stuff works now? Cricket, how much did you? Oh, your dad. Him just a couple thousand, but then I bought some land for myself to be able to build a little house that was nineteen thousand credit card of twenty thousand. And then the rest were all that properties. My accidents, they rented properties and then but dwelling that I built my own living. This is a massive financial whole. You've put yourself in. Do you remember how you felt back at that time. Very clearly thousand seven, two thousand eight. I remember painting the house that we were renovating at the time, and we realized because the bottom of dropped out of the market that we weren't probably not even gonna make dime of profit after selling the house for two years worth of work. To be honest, I had a life insurance policy, and I had a very short thought of committing suicide because I did not see any way that I could potentially get out of debt. Well. And thankfully I didn't do that. You know, I didn't. I didn't cash in my life insurance. Like by checking out, I decided somebody thankfully knew my situation at work and he was a financial peace university coordinator, and he offered this is something that I might want to check out. And I felt like somebody who's got thrown a life raft and life preserver. So tell the list, how much did you ended up paying off in seven years. Well, because I got married to a wonderful man when it all said and done, we paid one million fifteen thousand dollars back and in seven years, seven years war and I just grabbed hold and hung on and I did, but they've told me to do. I'm so impressed. You get plugged in to financial peace university. You begin to work and battle your way to getting out of this debt. What were some of the sacrifices you made to attack this debt? Now I'm not a very good cook and I've made myself learn how to get by with homemade meals. Okay. And I would cook once maybe the whole week took an extra job. So I work seven, eight leak. Did you do that? Cricket for every year and it didn't kill me, didn't kill you, kill you better. Believe it. This kind of strengthened focus has to come from somewhere else. What I mean? Have you all. Always been this kind of just zeroed in on reaching your goals. I've been kind of a driver. I definitely think that the strength to do it comes. God, I created this big hole and I'm burn from it and they've changed me and it just made me on fire to teach other people, but they do not have to be victim that lets us to make different toys. I mean I didn't have entertainment money. I had like five dollars a week, blow money above that bare bones budget every dollar to the penny that are earn extra. I would do extra principal payments and when I got married to the man that I'm married to now and we'll be forever. He would can laugh at me jokingly say, we're gonna you could Brown down, you know, you don't have to do you know five hundred and fifty seven dollars and thirty four cents. Let said, no, that's how much we have over the budget that much extra principal payment we would do and we would literally every week if whatever that in our Bank account above our budget, it went straight to the. Payments after I've not pre if that that electron car, I sold it and got a car that when I Finally I was done with it, it had three hundred fifty thousand miles on it, and I was proud of that car. I wish I could hook you right now. I am so impressed and you. You're absolutely right. We don't have to be victim. We get to make decisions. We get to decide, oftentimes you in the middle of tough divorce, almost a million dollars in debt. You made a decision, and your decision was to fight your decision was, is that this is not gonna. Define me, just dig in being intentional. It's not an accident. Listen, you know what? I tell people. Cricket, I tell people all the time. Life can knock you down and he can provide you some setbacks, but a setback can be set up for comeback, and that's exactly what you did in this story. And I am just so proud of you with what you're doing and what you have done. I'm just curious. You are on the line with me, and I might have some listeners. Right now that find themselves in a deep hole, like the one you're in years ago, what some advice you tell them that could be the lifeline, like your friend gave you in the office that day? Many people that care and that if if you want to help it's there if you want to support it there and there are many people who've done it before you. And there are many people who are going to do it after you me that she's to the victim or you can choose to face this and just be overcome, and you can do it. Absolutely can do it no matter what the situation is. The tortoise really does win. You know, if you just keep on plugging one step at a time, you're gonna get up the mountain. He will just don't give up. Hope you can do it. Just one step at a time you're going to get up that mountain. The Benchley one million dollars in debt dealing with real estate. She had a little trick. Car had credit card debt, all kinds of situations happening. And was that a point of despair, almost desperate despair, but she made a choice cricket, you pave the way for other people to see regardless of what they're facing, you're not done. You gotta stay focused. IP's because you're not finished cricket. Thank you so much for taking the time to talk to me today. Thanks for the work that you do. Thank you, ma'am. Thank you. VIP's she is a millionaire success story and she made a statement in there that she chose not to be victim. I want you to hear that resolve because making those decisions each and every day. Give us an opportunity to rewrite a story. Don't let anybody put a period where God's but a comma. You've got an opportunity. You make decisions for you and you determine your destiny. If you've got a success story, you wanna share win. You want to share something you've overcome and battled. I wanna hear from you call and leave me voice mail. That number to call is eight four, four, two eight three, nine, three, eight three. Again, the number to call is eight four, four, two eight, three, nine, three, eight, three. I also wanna think DWI my producer, but I wanna thank you all for listening and taking the time to join us. So until next time don't make excuses make progress.
Chris Hogan's Retire Inspired