Episode 12: The Foundations Of Home Ownership And Business Ownership
We have been discussing in our seller series what it takes to sell a house in the last few podcasts, so if you haven't tuned in and downloaded please do … we have some great episodes for you to hear!!
Previously we went over what to expect when your home is going to have a photoshoot. Now we are stepping into some reflection time on where our very own “house” has grown and the importance of a good foundation.
Do you have a clue on how to be a homeowner? What about a business owner? IN THIS EPISODE join as Lori reflects on her business growing and the shaky foundations that have led her to where she is today.
Takeaways:
Foundations are going to shift
It’s okay to build as you grow
You decide if you want to invest
Hear some more of the tricks, trips, wisdom, and stories that we didn’t summarize. Listen to Episode 12 of Lori Alvarez’s Real Estate With Soul: The Foundations of Home Ownership and Business Ownership.
To Invest Or Not Invest
Building a home and building a business are so alike
“You build a business, and you're like, Oh, I don't know what I'm doing. I have no clue what I'm doing. You build a home and you're probably doing the same thing. I don't really know how to do this. And I'm gonna do it. I'm gonna build a home.”
“When you're building a home, you start with the foundation, right down below. You start with the foundation, and you go, okay, is it secure? Does it have everything I need? Will it support me for the long, long haul? And here's the reality you really don't know, right? You're probably going to get some cracks, you're probably going to have some challenges. You're probably going to have to disclose those challenges. And you're probably gonna be like, how do I fix them, and it's probably gonna cost you a little bit of money.”
That's what homeownership is. It's buying something, establishing your foundation, and then maintaining it.
“When you’re building a home, you start with the foundation,
Lori often talks to her clients on a weekly basis. And as of late, the conversations have been around home ownership. The length of homeownership amongst her clients ranges from 1 years to 30 years, and everything in between. And you know what she discovered?
“And they've all either put the money into it and invested in it, or stepped away from it and not invested in it. Not doing what is necessary to support the ongoing safety, comfort of your home sweet home is right.
How is homeownership like a business?
“I have had to truly establish my foundation, which was just me 12 years ago.” When the market crashed 12 years ago, Lori decided to start her business. And she didn’t know what the heck she was doing. She continually asks herself, “How do I do this?” The broker she worked with back then didn’t tell her how to sell real estate, how to maintain a house, or how to understand the market.
And that was her foundation.
And since then it has grown.
“Over the last 12 years, it has cracked, it has expanded. It has moved. We're in earthquake land. Life moves, our ground moves.”
She isn’t just talking about the business craziness. She means your home’s foundation. Because here in California you know earthquakes are happening. So if you don’t think your home’s foundation has not shifted over the past years, I’d think again.
There are some intense days when owning a business. Lori has said, “Oh, that was a big one [earthquake]. And it didn't feel good. Actually, it was a little stressful, probably tearful, and even overwhelming.”
And that’s how homeownership can feel too. What happens when that roof needs replacing? And all you can think about is, “I don't have money for the roof, but I need to maintain it. I have to.”
You have to maintain your roof. You got to take care of it.
What do you have to do?
Just like life and just like a business you have to take care of it. If you don’t invest your time and energy you’re going to see some challenges. If you’re not careful it may just cave in.
It’s important to make sure the decisions you make are the right thing to do, the right investment.
It’s a learning process. Lori has gone through her own experiences of growing the team and shrinking the team when the time was right.
It allowed Lori to be a better business owner, a better person, a better supporter. She isn’t the same business owner as she was those many years ago. And she said, “My foundation wasn't so stable. It was present, but it was shaking at that time.”
It’s the same thing with owning a home, and being the head of a household. So picture your family as the house. Challenges will come and go in life, and moments when we feel lost and confused. Walls will feel like they’re crumbling in, the foundation is shifting, and you have to make a decision on what to go. You can choose to ignore it all and think nothing of it, or you can take the time to reflect and invest. You decide what’s worth it.
ASK YOURSELF:
Is this making me better?
Is this enhancing me?
Am I giving my very best?
What’s valuable to you?
Is having people over to enjoy the beautiful comforts of your home valuable to you?
Because that’s the beauty you get to share. You’re able to invite your friends and family over to enjoy and to entertain in a safe, loving, and stable home. It’s where you can share memories, laughter, and escape the crazy moments.
WHAT DO YOU WANT YOUR HOME TO OFFER?
And will it be perfect? No. But you know what?
“We're not going to see everything. We're not going to feel everything. We're not going to be so aware that we're going to catch every challenge. It's just not going to happen. So give yourself some grace, know that it's not perfect. Know that you're better because it knows that you can move it forward because it happened. And you can move forward in such a healthier, more informed, better way.”
So as you grow in your home over these years, maybe 10, 20, 30 years, remember you’re never going to be the same homeowner you were years ago. Just like Lori isn’t the same business owner she was 12 years ago.
You’re going to grow
It took hires, fires, and rehires to find the right people to stabilize the foundation. Lori proudly shared, “I had to go through a couple until I finally got to the one who was a good fit for me. And him, which was my son, Nathan Alvarez. And I will tell you this, all the years that I raised him in my home in my house, he said, Mom, I'm never doing what you do.”
“He supports me, way better than I could ever support myself.
And Nathan doesn’t. He does a different, integral part of the business as Lori’s Executive Assistant.
She said, “He supports me, way better than I could ever support myself.”
And guess what? When someone on the team is sick and unable to do their part, it feels like those moments when the plumbing in your house is backed up. But what can you do? Call in reinforcements? Shut off the water?
Thankfully Lori Alvarez and Team has plenty of support pieces to keep this business foundation stable. The transaction coordinator came along. Amy Cruz, our buyer’s agent.
Are you going to invest?
And in turn as your business, your home grow, so does your family. Amy Cruz “exploded the world received her.” Clients began to call asking to just wait for Amy to be available to see houses because she is just that incredible! And that only happens when people take the time to invest in one another.
And then came along the Social Media Coordinator. Nowadays social media is more important than ever. And you have to find the right fit! And it took a couple. And amidst all of that you realized pieces are missing, the remodel in the home isn’t finished yet to do what you wanted to do. That happens time and time again in the business. You think something isn’t perfect, something isn’t done, and here we go again down another learning moment. But you learned. You expanded your skillset. It made you a better business owner. A better homeowner.
The biggest challenge is trusting someone else to care for your home or for your business. Like truly trusting them. When you say I want you to do this, or can you take care of that, or paying someone to take a look at a problem, you have to let go.
It’s important to step back and recognize when someone does something better than you.
Allow people to support you. It only makes your foundation stronger.
So invest in yourself. Invest in your home.
Don’t let your talents fade away, don’t let your home rot.
Give it TLC.
Don’t let neglect be the reason why you don’t see your homes true value and others don’t see it’s true value.
“You need to tender love and care that house and take care of it, invest in it, mould it, shape it, beautify it.”
Success is found in failure
Lori reminds us in the moments of failure, “We just learned through those moments. We're not perfect. We've grown, our foundations expanded. It's breathing and moving and doing what it needs to do.”
Every time you add a new member to your business it’s like adding another children into a new bedroom. You wonder how they’re going to be. How are they going to paint it? What is it gonna look like? What is it gonna feel like, right?
You have to let them find who they are within the home all while molding them into being a better “homeowner”.
Lori said, “Well, they're an extension and you allow them to do what they need to do. Yeah, you come back and you invest in them. You spend time with them. You talk with them, you coach them, you inspire them, you mentor them, and you train them. That's what you're doing in your home every day, as you're building that.”
You decide if you’re going to maintain it.
You also decide if you’re going to grow.
We want to grow, do you?
Lori Alvarez and Team continues to grow.
They’ve hit max capacity in the house. And it’s time to build on top of that ceiling. It’s time to push to the next floor.
And the stronger that business foundation grows, the stronger the Team is to help support you in your real estate goals.
In Conclusion
So to recap, what do you need to do?
Establish your foundation. And realize that is it going to crack at some point. It’s going to shift. It’s going to move. It may even expand. And you’re going to move on up if you choose.
And when the time is right, you just might settle down and relax to enjoy and look up all that you’ve invested in, and smile.
Lori Alvarez has been in the Real Estate Industry for almost 15 years. If you’d like to contact her call her at 909-227-4196. She loves helping families find their home sweet home.
Our podcast is geared towards our current clients. We love to give our buyers and sellers great information. Wondering about something we haven’t covered? Send us a message.
Thanks for reading. What’s going to be your next step to finding your home sweet home?
Real Estate is an ongoing, beautiful story. That’s why we love to share ours and to help you begin yours! Tune in to the next episode where we will continue the conversation.
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