ARE You AFRAID TO FAIL?

Since I last wrote a lot has changed with my business, my life, and the real estate industry. We won’t discuss politics or the state of the country here, however I am watching, learning, and reacting as all of you should be doing. In 2022, we moved to Eagle, Colorado. Absolutely beautiful house with an absolutely horrific mortgage payment! The Vail Valley is gorgeous and we loved our time there, mostly skiing and hiking and off-roading in the Aspens nearby, but I learned a lot.

The town of Eagle is cute and has a great grocery store and flower shops, a farmer’s market, an old school cinema to watch movies.. but the food scene is not great. If you know me, I love food. Although I have gotten better at cooking and hold my own, I don’t like serving others 100% of my life. I’m already a mom, a real estate agent, a hotel owner/including housekeeper, so I like to be pampered with yummy food at least twice/week.

Our time in Eagle was eye opening in other ways as well. The local businesses could not make enough to stay afloat. Many locals were selling homes they bought years earlier to move back to Denver area or over to Glenwood Springs where it is a bit cheaper. The real estate market was all over the place. The Vail Realtor Association had a hold on every agent dictating their actions. It was a clique of sorts, so I was forced to join to even play the game. I just couldn’t get into it. When we finally decided to sell our house we just bought, it was a Denver agent that brought the buyer and it was all cash. the luxury market is a bit different. That was late 2023 when all the law suits in the real estate industry started.

So, I couldn’t gain any traction in the real estate market or find worthy places to meet people. However I’m sure if I stuck it out I would have. To make things unknowingly worse, two weeks after purchasing my house in Eagle, I bought a hotel in Georgetown, Colorado! How fun right!?  It was a learning experience and fun at times, but driving two passes in the winter is not recommended on a weekly basis. They are ALWAYS closed. Even when it is clear, there is an accident that closes one or the other or another part of I-70.  So, if you do move to the mountains, plan to stay there all winter and not have to drive too much, except to the ski resort.

I will save the hotel process for my next newsletter as it was a 1.5 year remodel, zoning, and $200K nightmare. So, with the real estate market shaky, no good food, and money needed to fuel my hotel project, I sold the house in Eagle and we moved to Silverthorne. At least that was only one pass and much closer to the hotel and close to a variety of ski resorts. Now this was a much more fun winter. We ate good food, skied a lot, but we also shoveled a lot… and I mean a lot. We lived at 9,000 feet. I was put back on blood pressure medication and I started sleeping with oxygen to make myself feel better. It wasn’t doctor prescribed but recommended. If you stay in Breck and you are over 40, for any length of time, there are portable oxygen machines for like $300 you can bring with you. They do make a huge difference!

I never did join the Summit County Board, but I was thinking NextHome Summit Group was a great name if I did stay there. Okay, so fast forward one year. The real estate industry is threatening a drop in sales and prices, the lawsuits are settling and more are being filed. The life of the 6% real estate commission is officially being challenged, as it should.  I have always said, there are agents that should be paid the 6% or even more and then there are the other 90% of agents.

June 2024, The St James Hotel opened, my bank account was empty and I was hyperventilating every time I walked out side. There was literally no sun and we lived in the sunniest part of Silverthorne halfway up Ptarmigan mountain.  That summer was so cold… so in September we sold The Clipper Inn. The B&B I purchased in 2022 with my business partner. This allowed me to buy another house. We purchased in Genesee this time, West of Golden.

So far, we love it. We found a flip project also in Genesee that I closed right about the same time as our move and it is now listed for sale. The market has been a bouncy castle and it seems this trend will continue for a bit. So, I couldn’t gain any traction in the real estate market or find worthy places to meet people. However I’m sure if I stuck it out I would have.

My advice for buying a house. If you don’t have a house, then I think you are safe to buy. Rates are down recently and prices are down too right now. Offer less, find a deal, move in and add value. That has been my strategy in every house I’ve purchased, and I have purchased a lot of homes. I even finished the basement in the Eagle house and sold it for more only 6 months after purchasing.

So, now I’m sitting here looking out my window at my new beautiful views… just not looking at my grossly dated kitchen from the 80s. I wince every time I walk in there! It will be beautiful… eventually.  As I search for my next project, my next passion, I have been listening to many podcasts - GaryV, We can do hard things, and more.  I am learning my life and all the failures and successes is beautiful. My kids are beautiful, and although we are not married I am back with my ex-husband. Life is yours to choose, don’t let others expectations or societal pressure lead you astray!

My kids are still homeschooled. They are pursuing their passions- art and gaming and are happy. They do not have social media profiles. They are hidden from the world and I love it.

Sidenote: If you haven’t watched Adolescence on Netflix, it is brutal what these kids are subjected to these days in schools. Teachers are not equipped or paid enough to handle or mentor the kids and the parents are absent and need to do better! Social media has turned what was excruciating to begin with - high school - into a bloodbath.

I feel like I failed in many areas, moving so much, listening to my kids when they were younger, being a better role model, etc. I did fail…many times and right now while I have three listings, future money spent, and $0… it feels like it. But I’ve been here before. When you do feel like a failure, it’s okay. It’s okay to fail. If you never fail you will never know the joy of success. You will never learn how not to fail.  Failure is a crucial part of building wealth, building your business, and building yourself. Taking risks is so hard for many people.

If you fail, it means you put yourself out there. You took a risk and you are not afraid.  Don’t give up.  My post back in June 2023 was title “Life is Hard” well it has not gotten any easier, however it’s all how you react to it. It can be easier as long as you are not afraid to fail. After all, we are born, we live, and we die. Make the most of the “we live” part!

And don’t forget to find the joy in the small things every day!