Angela Goodman on Money Mindset Blocks & Flow

Angela Goodman (00:35)
Thank you, Jessilyn and Brian for having me on. I am just honored to be here today. I have been in real estate as far as investing in it for about five or six years, aside from my own personal home. So I have some multifamily property and some other things. So it’s definitely created some wealth for me, which has been great.

And then nowadays I help other small business owners learn how to appropriately use their money in order to gain more assets. And then also in order to get rid of any financial blocks that they might have with the flow of money, whether it be tied to their sales, their income or their profitability.

Jessilyn & Brian (01:10)
Wonderful and how long have you been working with individuals helping with the money block? Because the money block sometimes it seems so simple but yet it’s the one thing holding you back and people don’t know how to uncover that.

Angela Goodman (01:23)
You know, it’s funny, I started during COVID. So I have a restaurant that I also own. So it’s a business I started back in 2016. And during COVID, I was helping other small business owners kind of pivot their business and understand how to best change given the pandemic. And so I started that way. So it was all about revenue generation, figuring out with them how to get top line money into their business.

And then over the last five years, it’s been about the things I’ve seen them do or not do based on experiences that they had in very early life. So most of us actually experience money blocks and don’t have a decent flow of money from things we learned in childhood, if you can believe that.

Jessilyn & Brian (02:09)
do believe it. We took a course back, I think just pre COVID. And we walked through a similar type of concept and exercises. And to dig down and realize the root of mine was from my mom. So I mean, and that goes way back from when I when I was a kid, right. And he dug through his as well and found out, yeah, we we learn what we know, and we know what we see. And we’re raised in that environment, right?

Angela Goodman (02:23)
Ha ha ha!

Yeah,

absolutely. And if all we heard was that the money was the root of all evil or, you know, only rich people, you know, weren’t good people. I mean, there are just different things that you might have heard in your childhood and might have experienced with.

family members who might not have had money or family members who had lots of money, you learn those experiences and then decide what you’re gonna be or not be and subconsciously don’t even realize

that’s why you make certain business

or investment decisions later in life.

Jessilyn & Brian (03:04)
So where did you discover the even the concept of the money mindset because that’s not a very common concept in surprisingly amongst business owners and real estate investors and just the general public. Where did you discover that?

Angela Goodman (03:19)
You know, it’s funny, I over the course of my life have always had the money I needed when I needed it, whether I had it going into it or not. So I was always able to manifest money and where it would come from and then how to appropriately use it and do things with it. I didn’t even realize it was a gift. I didn’t realize other people struggled with it. I didn’t realize that there was a such thing as a mindset around to your cashflow. I actually had no idea.

Jessilyn & Brian (03:38)
Yeah

Angela Goodman (03:47)
until I went into a bad business deal for myself and lost a half a million dollars, which also happened to be in real estate. Yes, so during that time in my life, as I was going through this business deal, what I came to find out was that I had shifted my mindset to this place of lack and scarcity because of that business deal. And I’m like, why can’t I manifest money the way I used to? Why can’t I bring it in the way I used to be able to do?

Jessilyn & Brian (03:54)
wow.

Angela Goodman (04:15)
And what I learned was I had shifted my mindset negatively. And then once I realized that, I’m like, ⁓ okay, now I know what I need to do to get back to where I was. So to be honest with you, that all happened pretty recently. That was about four years ago. And so as that was going on, I was working with clients who were having other problems with their financial mindset.

And I’m like, okay, this is what I’m supposed to do to be helping people. And now I have to go through the pain of going backwards to go forwards to then be able to teach people how to go forwards on their own.

Jessilyn & Brian (04:49)
Yeah. So what did you ultimately learn about yourself to bring yourself out of that position? Because I personally know a lot of people who have been in similar situations and not even with the volume of money that you’re talking about, where it is literally locked them into place and they now can no longer perform with their money. So what did you have to do to come across to the other side?

Angela Goodman (05:11)
You know, I had to do a lot of self-worth discussions. The reason I got into the business deal to begin with, I had to kind of chip away at how did I end up here? And it wasn’t like it was a bad deal from the get-go. The numbers were not the best numbers as far as, you know, performance and things like that based on what I was taking out against the buildings. But what I learned during that time period was I was more worried about being accepted for what I knew.

and whether or not I was a good business owner and whether or not I could have the knowledge needed to create wealth. And so I was chasing this idea of wanting to be accepted by a group of people I wasn’t a part of. So it wasn’t about really anything other than acceptance and approval and a lot of different things that I had not had growing up that I was still chasing with this particular group of people that I got into the deal with.

And so that was a hard pill to swallow. Like none of us want to go back that far and be like, okay, well, I just wanted to be one of the cool kids and that’s why I decided to do this and that’s why I lost a half a million dollars, right? Wasn’t about that piece of it, but it actually was. Yeah. No, no, nothing to do with it itself. And as I’ve, you know, continued to work with clients and uncovered some of these traumas with them surrounding money, I’ve…

Jessilyn & Brian (06:23)
Yeah, yeah, nothing to do with the actual money itself. Isn’t that funny?

Angela Goodman (06:38)
had clients who have stolen from employers because their parents didn’t love them the way they should have been loved and they stole from their parents. And so then when their employers didn’t recognize them, they stole from their employers. Legitimately, there are patterns that we create in life surrounding money that we don’t even realize that we have. And so for me, it was experiencing it and then going through the hard healing work of uncovering why I had those traumas and then feeling them.

Jessilyn & Brian (07:05)
Excellent. Right. Wow. So you’re actively, you invest in real estate, even though you had an unfortunate and that’s not a cheap, ⁓ no, right. We got, you’re still invested in real estate, correct. And I think I heard you say multifamily. why do you pursue real estate?

Angela Goodman (07:06)
Yeah.

No, was not a small lesson at all. I could have gone to college three or four times.

Yes, yes.

So I recognized years ago that asset growth isn’t guaranteed in most areas. Fortunately, where I live in the United States outside of Washington, DC, the trajectory of asset growth has always been the case. So I decided to grow, you know, to invest in a market that has had continuous growth.

Other than the housing crisis of 2008, this particular area grows pretty significantly year over year. And so it was a better investment for me than putting my money in the stock market or giving it into commodities or doing something different with it. So that’s why I chose to invest in this particular area. The business deal I had where I lost a significant amount of money was also a good market.

What I didn’t do right in that specific place was I went into business with someone I didn’t really know. And their end of it was to do the renovation work and to do the value add piece. My part was to be the financing behind everything. And unfortunately, he just didn’t live up to the end of his bargain as far as doing the actual contracting work. And what I learned with that was why am I doing this with another person?

I really don’t need to be investing with a bunch of people that I don’t know, because I can count on myself and my projects and my properties are making money. They’re growing in valuation and also I’m capable of hiring contractors to do work by myself. So, yeah.

Jessilyn & Brian (09:12)
Yeah, we’re big fans of power teams. And it sounds like in that particular relationship, it wasn’t really the right fit for a power team inside of that relationship or inside of that real estate deal.

Angela Goodman (09:16)
Mm-hmm.

Mm-hmm.

Jessilyn & Brian (09:27)
So

how would you, going forward now, how do you find the right power team around you to run your real estate, to manage it, to do all the various different roles that are required in real estate investing?

Angela Goodman (09:41)
Yeah, what I learned in that particular vein was I just didn’t do, I thought I had done enough due diligence and I uncovered some things about that particular partner that I wasn’t wild about, but I allowed it to proceed forward because I’d already had $50,000 invested from the get-go and I didn’t want to lose that. So I was like protecting my capital upfront and that ended up costing me 10X, right? So what I’ve…

Jessilyn & Brian (10:06)
Yeah.

Angela Goodman (10:07)
So what I’ve learned kind of going forward is when I do the due diligence on the rest of the people I’m looking to partner up with, I’m digging into everything. And if there’s even a slight feeling that I get that this isn’t the right move, I’m listening to my intuition. That’s the biggest change for me. And I also think as humans, we’re spiritual beings living a human experience.

Jessilyn & Brian (10:24)
Yeah.

Angela Goodman (10:36)
We know internally inside of ourselves by intuition whether something feels good or it doesn’t feel good. The question is whether or not you listen to that part of who you are. And so what I, what unfortunately was a very costly lesson for me, but listening to your intuition, even in doing these kinds of deals is really important.

Jessilyn & Brian (10:44)
Yes.

Yeah, our in our background of personal development, we we call that humans being lie detecting machines. And but a lot of people will will like, they won’t listen to the lies like they they’ll still Yeah. Yeah. And it took us a long time to to like, listen to ourselves just like you’re saying like with the intuition and say like, really, is it is this perfect is like there is there something off about this person that

Angela Goodman (11:05)
I like that. I like that.

I was there. I was there. Yeah.

Jessilyn & Brian (11:27)
that maybe we maybe shouldn’t be in our ecosystem of real estate. And we get like recommendations to professionals all the time, but until we can actually have that conversation and say like, Hey, are you really the right fit for us in our, in our life? It’s very, very difficult to bring on a new professional and, like get the trust that, ⁓ that you have to build with them. Yeah. So you, so you’re a big fan of, of intuition and that’s, that’s a lot of, how you

Angela Goodman (11:50)
Yeah.

Jessilyn & Brian (11:56)
filter out your power team as it were. Is there any other methods that you use to build your power team around you?

Angela Goodman (12:04)
Yeah, networks, you know, I go out and reach out to the networks that I’m in and say, okay, this is what I’m looking for. Who do you guys know that is an expert or somebody that has a lot of experience in this particular field? So I’m a lot better at network connecting now also, just making sure that people check out. I do ask for references from people now, which I wouldn’t do before. I typically would trust and then do a little bit of research on my own.

And I realized that that was not enough either. So I do a lot more of that also. Just getting references and talking to as many people as I can surrounding that person.

Jessilyn & Brian (12:43)
Yes, networking is huge. Especially when comes to real estate investing. People think you just kind of buy a property and then you let it run, but we have a wheel that we draw out for people and it shows how many connections and how many points you actually have to make in order to just buy one single property, even if it’s a condo or up to multifamily, which just requires even more people. So there’s a huge amount of networking and

Angela Goodman (12:45)
Mm-hmm.

Yeah.

Jessilyn & Brian (13:12)
and like interpersonal effort that goes into real estate investing. From my experience, it’s one of the most social professions in existence. Like, yeah, every real estate investing room that you go into, everybody’s just looking and looking to connect and looking to support and looking to help out everybody else in that room.

Angela Goodman (13:16)
Mm-hmm. Mm-hmm.

Yeah, I agree.

Mm-hmm. Yep. Yep.

Jessilyn & Brian (13:37)
Yeah,

I’m huge on intuition as well. And something else I generally speak when people ask me, said is ask the professional you’re looking to work with to show you their books. Because if they’re willing to open their books and many actually aren’t willing to even talk about it, nevermind show you their books. And then I’m like, okay, if they’re not willing, that should be a sign right there. What are they hiding? Right? But there’s a lot of people who I find they’re just really.

Angela Goodman (13:50)
Yeah.

Yeah. Yeah.

Jessilyn & Brian (14:06)
nice and they’re like, well, don’t know if I want to, none of my, like, you know, it is your business. It’s your money. Like this is like absolutely. And if you don’t think it is, then maybe you should just pause the concept of investing in real estate or whatever it is you’re looking to make a deal with and, and wait until you’re ready to look at the good, the bad and the ugly before you go lose X amount of dollars. Right.

Angela Goodman (14:14)
Mm-hmm.

Yeah.

Yeah, absolutely.

Jessilyn & Brian (14:32)
there’s a fear of being found out. We’ve discovered, and I’m sure you’ve discovered in a lot of your money mindset coaching that, which is basically what’s behind people unwilling to open up their books. you know, if you’re willing to be authentic and you’re willing to like open up the books or be transparent, then that’s like one of the first keys of a good partner out there. Yeah. So when it comes to like real estate, strategies, investing,

Angela Goodman (14:38)
Mm-hmm. Mm-hmm.

Yeah, yep, absolutely agree.

Jessilyn & Brian (15:01)
What is one step you could recommend for people to get started in that world for those who are sitting there going? I don’t have enough time. I don’t have enough money. I don’t have enough knowledge I don’t like I just they fear fear they don’t have enough of whatever it is There’s that fear but not getting started should be what they’re fearing right because they’re not building their well So do you have any advice to give our listeners?

Angela Goodman (15:19)
Mm-hmm. Mm-hmm.

Yeah, one of the biggest strategies that I talk with all of my clients about actually is just making sure that you’re putting away at least 1 % of your revenue. Like you’d be surprised to know, you guys probably wouldn’t be, but there are probably some people on here who would be surprised to know most people don’t have savings. They have very little in their savings accounts. Most people are spending paycheck to paycheck just to have their singular existence. And they want to find ways in order to grow their money, but they’re not willing to actually save it first.

So one of the things that I suggest to most of my clients to do, just to 1 % start there. Do something, create the behavior behind saving. And then once you get to certain thresholds with that savings, then you can start looking at what do I want to use it to invest in? And if you decide to choose real estate, the goal there should be, okay, who do I know in my circle that has successfully done this?

Who do I know in my circle that has a second home or a second property or had started small and just had one or two partners and just talk to that person? Don’t be afraid to have a conversation. Real estate investing is not for everyone, but you don’t know that until you ask the questions.

You know, I’ve got friends of mine who built in Airbnb from the ground up and that was their first kind of 4A into real estate investing. They were too scared to go in with someone else in the beginning. So now they built their own property because that was the part they were comfortable with. And now they’ve kind of eased their way into renting it out. And so now they’re getting much more comfortable with it.

But they could have probably taken the money that they used to build that Airbnb and had a lot more valuation somewhere else. But their fear kind of kept them small in the beginning. But, you know, as long as you overcome your fear, you start small and you create a behavior around saving, you know, and then find somebody in your network who has done something so you can ask questions.

Jessilyn & Brian (17:27)
Yeah. And is that where

the 1 % comes from? Because, you know, for, for the audience out there, 1 % might not seem very, very sexy or very, very attractive, right? Amount of money to be putting away and they might not get even started on, on the 1%, but it sounds like 1 % is, is just enough to stretch that muscle to get them moving. Yeah, exactly.

Angela Goodman (17:37)
You

It’s to set up the behavior of saving.

Because a lot of people you might get in, say you have some, we’ll talk about tax season, right? So especially in the United States, where people get tax refunds then they wanna take their few thousand dollars to get back in taxes and they immediately buy a car or buy an asset that might depreciate and lose value. Take that money and put it in your savings account.

that the act of just behaviorally saving and not saying, I saved my money and now I’m gonna go spend a few thousand dollars on something else that’s actually spending. It’s not really actually saving money. What I have found with people who have an active behavior of saving money, they then don’t wanna spend that money. That’s what I find until it gets to a certain point and then they can set thresholds themselves. Well, 1 % was easy.

I did that very simply for the first three months. Now I’m going to move to 5 % and see if I can actually do that. Make it a game for yourself. Make it fun. 1 % is not permanent. It’s just a start to create the behavior. And then once you see the account grow, then you’re like, ⁓ this actually was easy. I didn’t miss that money at all. That’s why I started the 1 % just because you don’t miss it.

Jessilyn & Brian (19:04)
Exactly. Yeah. And it

does start to build that muscle and it does start to create that behavior. We teach very similar things that you can’t reactionarily get into real estate. So, and just like at the gym, you can’t just start lifting a hundred pounds. You got to start with one and then move up to five and then to 10, right? It’s a very, very similar concept in finances, but equally as hard to be disciplined around it. Just like it’s equally as hard to…

Angela Goodman (19:14)
Right. Right.

Mm-hmm. Mm-hmm.

Jessilyn & Brian (19:33)
you know, get yourself to the gym every day and lift a few pounds.

Angela Goodman (19:36)
That’s right. That’s right.

Very cool. So how long have you guys been investing in real estate? Because I don’t know the answer.

Jessilyn & Brian (19:44)
Yeah. So we’ve been investing in real estate for over 15 years, think more closer to 17 years now. We’ve similar to you. We’ve lost money, not quite on the price tag that you have. Luckily, I think Canada’s, or at least the Edmonton market is very, very stable in terms of like, it either just doesn’t move or it goes up. So we’re lucky in that sense. Yeah. But yeah.

Angela Goodman (19:50)
Awesome.

Mm-hmm.

That’s good. That’s good.

Jessilyn & Brian (20:12)
lots of bumps, lots of bruises, lots of experience as well. And that’s one of the primary reasons why we want people like you on this podcast is because you’ve gone through the bumps and the bruises and you’re still willing to invest in real estate. So there must be something about real estate that people see and can pass down to other people and say like, Hey, you can do it too. Like what can it look like for you to do real estate? Yeah.

Angela Goodman (20:26)
Mm-hmm.

Yeah. Yeah.

you know, honestly, if you look at the housing count, I’m not as familiar with what it is in the Edmonton area, but here where I am, there’s a shortage of housing and there’s a shortage of entry level housing. So people want to come in and buy a condo. They want to buy into the base of the real estate market here where I’m located. Those are always growing in value because there’s not enough of them.

Jessilyn & Brian (20:53)
yeah.

Angela Goodman (21:09)
So it’s about understanding what your market supply and demand is. And in most cases, our population is growing at a greater rate than our housing is being built in. So real estate becomes a very solid investment from that perspective because there’s always going to be someone who wants to buy it.

Jessilyn & Brian (21:17)
Yes.

Yeah, no root. That’s the one that is actually one of the thing number one things I love about real estate is that you will always have a market. The only way that you’ll never have a market is if the city like literally disappears. So yeah, and then you just shouldn’t buy and you like you should be smart like yourself and make sure that you’re investing in growing markets and and past that you’re probably safe with enough time and and energy and you’ll you’ll always do well in real estate.

Angela Goodman (21:39)
Yeah. Yeah.

Mm-hmm.

Jessilyn & Brian (21:54)
It all, for us, it’s always worked out even when we’ve suffered a couple of bumps and bruises throughout a particular deal. Yeah. So just wrapping up here, what is the one question that we haven’t asked you yet that you think is really important to ask you?

Angela Goodman (21:59)
Mm-hmm.

So I think it’s really important as people are investing in real estate and they’re starting to look in a particular market to go there in the dark. one of the things, no, it seems so simple. So one of the things that actually was part of the problem in that deal that I told you all about.

Jessilyn & Brian (22:20)
yeah.

Angela Goodman (22:29)
About two weeks after we closed on the deal, was a Section 8 housing, which here in the United States is low income housing. I had a goal of wanting to go in, add value to the property, and also give the folks who were there kind of a better life, know, make a, you know, bring things up to more modernization and make things better for the people who were there, not really raising their rents. And about two weeks after we closed, there was a drive-by shooting in the neighborhood.

which obviously impacted the valuation also of the real estate. So then it made it more difficult to be able to get those, you know, to get those lines of credit in order to help bring the real estate up to, you know, better conditions. So go after dark. Like if you want to invest in a certain market, make sure you know what it looks like after the sun goes down because it could look very different after the sun goes down than it does during the daylight.

Jessilyn & Brian (23:24)
Yeah, that’s a really good piece of advice. We call it walking the block. So you go and you meet the neighbors, you knock on some doors, you introduce yourself, you see what the area is really about. Because if people are answering the doors that you are maybe not comfortable having your renters beside, or you’re uncomfortable with what the valuation of your property might look like with those people answering the door, then maybe that’s not the neighborhood you need to be buying in. It’s a great piece of advice.

Angela Goodman (23:35)
Mm-hmm.

Yeah.

Mm-hmm. Yeah.

Yeah, absolutely.

Jessilyn & Brian (23:51)
Yes. All right. So

do you have any upcoming projects or programs or freebies you’d like to share with our audience?

Angela Goodman (23:59)
You know, I don’t have anything upcoming that’s going on. I appreciate you guys having me on. If there is anybody out there, I’m writing my book right now about financial blocks, how they are tied to our childhood experiences, and then also understanding the patterns that we develop over the course of our lives in dealing with money. So if there’s anyone who has any great stories about that, that wants to connect with me, that would be amazing because I’m in the process of doing that project right now.

And I have several clients who are going to be featured in the book, but always looking for more interesting stories as well. So if anybody listening wants to connect with me, they can catch me on Instagram is really the best place and it’s MS Angela Goodman.

Jessilyn & Brian (24:43)
Okay, and

email address they can connect you with.

Angela Goodman (24:47)
Yep. It’s Angela at VVG consulting.com. So Victor Victor golf. Yeah. Awesome.

Jessilyn & Brian (24:51)
All right, and we’ll put that in the comments as well. All

right, well, thank you very much for joining us on the Life by Design podcast. It great having you here. Yes, thank you.

Angela Goodman (25:01)
Yeah, thank

you guys. I appreciate it.