From Syndication to Soil: Investing in Regenerative Farming and Local Grocery Stores with Felecia Froe

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We have Felicia Froe with me here today.

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I really appreciate your time here.

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And if you want to learn what Felicia is up to head over to money with mission.

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com and Felicia has a offer there for you.

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Go slash seven dash steps dash two dash building dash wealth.

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And to make it all simple for everybody, I'm going to make sure

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that's clickable in the show notes.

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Really appreciate your time here,

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Felicia.

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Thank you so much.

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And I know most people are doing something else when they're listening

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to a podcast, please don't stop don't look down to write that down while

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you're driving or feeding your baby or whatever you're doing Just it'll be

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there for you when you're ready for it.

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Yeah, that's awesome Felicia, you got an interesting background

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and I want to start there first.

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Is that you're a urologist That's right.

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And yes got into real estate investing Can I ask, being a doctor, you have

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probably had a very strong income if, would that be fair to say?

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That's fair, very fair to say.

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What caused you to go into real estate investing?

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There's a short story and a long story.

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I'll give you the medium story.

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Okay.

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My, my family is professionals and everybody went to school.

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And we're that first, my father's generation actually had gone,

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we're educated too, but it was always about go to school.

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Have a great education, go as high in school as you

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possibly can, get that job da.

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Medicine, what higher aspirations are there?

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That's where I ended up.

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Medical school, residency, all those things.

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About five years, a little less than five years into my practice, I just had

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this feeling that this is not going to be the last thing you're ever going to do.

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Which was I am.

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I didn't really do anything with it.

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It was just like, huh, I wonder what that is.

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And we were talking earlier about me living in St.

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Paul.

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We were living in St.

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Paul, Minnesota at that time.

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And because of the not so warm winters in St.

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Paul, we moved from there to Kansas city.

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And I was working with some other women physicians and we

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actually did my first real estate.

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Purchase with a, we bought a building to do our practice in at the time.

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I didn't really think about that as real estate investing at all.

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It didn't cross my mind.

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We're buying a building.

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We're going to do work here.

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A friend who also was a part of that situation, not a physician, but a

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business owner suggested I read rich dad, poor dad, one of those books

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that it seems like most real estate investors have read, but it really.

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Just turn the lights on as far as building assets and how assets and liabilities

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and how rich people or people with means and people without means view assets.

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So took some more time and ultimately we started buying with a friend of

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mine helping me, taking my first purchase, made it no risk at all.

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She said to me, if you don't buy this house, I'm going to buy it.

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She knew I'm a very competitive person.

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So I'm like, you're not taking this from me.

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And she said, if you buy it, you can use our team to rehab it.

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If you rehab it and rent it and you're not getting.

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You're losing money.

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I'm going to buy it from you.

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So that took all of the risk out of that thing for us.

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We did it.

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We started.

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And in about 18 months we had, I'm sorry, in about two years, we had 18 properties.

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Now the question was why?

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And it was because of Rich Dad Poor Dad and me realizing that I, and

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again, that whisper that said, this is the last thing you're going to

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do that we started working to have.

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Another stream of income.

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That's really how it started.

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We just wanted another stream of income for ourselves.

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Wasn't a, I never dreamed at that point that I would be where I am today.

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So things just evolved and the 18 properties, actually, that was right

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before 2008 that we got all of that.

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And I think I heard on your show previously where, real estate

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investors, most of us who've been doing it for a long time have gone

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really high and then gone really low.

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And 2009, 2010 was a really low point for us because we had to make

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a decision to keep digging a hole.

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financially, or walk away from a bunch of stuff, which we did.

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And it was about us not knowing what we needed to know to

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keep all those things afloat.

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It's interesting that, as many people that have been on this show, it seems

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like almost everybody that has been in some sort of ups and downs like that.

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Even though that we go through this and we might get mentors and

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we might get training, we always seem to find our way into having to

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learn these lessons the hard way.

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Yeah.

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I didn't get mentors and that education of a student.

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What do I need that?

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I just need this book.

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I'm going to be okay.

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And it was after that I realized I needed that.

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People who had been on the street and had the education, not just

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book learning to know the ins and outs of a whole lot of things.

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So it was after that, and I realized after our downfall, and I

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realized that this was an education problem for me, a mind problem.

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I needed smarter people about this thing.

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I can do medicine.

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I can do urology.

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I could do kidney surgery, prostate surgery.

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I can do all of those things.

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But putting together that pro forma, putting together, knowing

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what's the right property, making sure you have the right team.

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That was something that I had to learn and somebody had to teach

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me, people who had already done it.

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So that's how I got into all of those things.

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And then that led me into syndication, which led me into I'm

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sorry, residential assisted living, which led me into food access.

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It's just, it seems like how did you end up here?

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And then I have to look back.

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It's Oh, this is how that all happened.

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With that experience, is that one of the reasons why you've decided to start

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a community online community yourself to try to help some other individuals?

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Yeah.

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So one of the things that.

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My, so my driver is that women should be able to lead the lives they want.

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They shouldn't have to stay in situations they don't want to be in

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necessarily, whether it be a relationship, a job, a city, whatever it is.

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I want us to have options for what we do.

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My mom, and this is my deep down why, my mother was in a relationship that was very

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dangerous for her and did not leave for what I perceive were financial reasons.

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She didn't feel like she could take us and take care of us.

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She didn't feel like she could leave on her own and take care of herself.

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And she was there for a long time.

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Ultimately, did establish the ability to go.

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Actually, she just decided it was not worth her life to stay there.

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Got out.

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And that thing, which I didn't even realize until not too long ago that

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was what was my deep down driver to work with women and professional women.

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Cause my mom was not a, an uneducated, she worked, she had everything,

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everything on the outside looked great.

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So yes, bottom line when we.

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Need help mentors and many of us women, professional women, physicians,

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surgeons, lawyers, accountants are so busy with our head down doing our work.

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We realize we need something else and don't have the time to

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go out like I've done and vet.

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So many different general partners, vet deals, understand what's going on there.

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So now we have a place where you can connect with those things.

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Like I'm ready to invest off wall street, help me connect with the right

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people so that I'm, I don't go through.

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What Felicia went through with nearly having to declare bankruptcy and a credit

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score of 500 and some real bad merit.

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Just every, it was just ugliness all the way around.

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So I would love to help people avoid that.

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So After that downfall, when it came to that, that first go around now

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you're into syndication and you found your way into assisted living centers.

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Is that something is that, can you explain that path?

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Because that's a niche within real estate investing that I've had another

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person or two on the podcast that talked about senior assisted living,

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but it's always an interesting way to find their way to those type of

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investments.

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A hundred percent.

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And everything that I've gotten into has been.

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Not expected.

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It wasn't what I was looking for.

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It was being in the right place at the right time to find what I needed.

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So I started like most other syndicators with multifamily and doing, looking at

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apartments, looking at hotels, looking at resort properties and raising

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funds for those, and those were fine.

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They're great.

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And it was a great learning experience.

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It just wasn't feeding what the thing in me that needed to be fed.

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And through those things, I met a guy, Jean Garino, who was teaching

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how to own real estate and turn it into a rather a small ish.

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community for elderly, a residential assisted living home.

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And you could do it for memory care.

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You could do it for straight assisted living, but rather than having the

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120, 130, 300 beds communities a smaller place, we have a 12 bed.

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residential assisted living home.

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And it's a community.

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It's a place where the families can have a peace of mind that they

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have not one person taking care of 15 elderly, but one person helping

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take care of three or four elderly.

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So that, what's a more direct.

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impact to me on that family, on those elderly people, because now they have

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other elderly people that they're around.

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It's not at home with their son, daughter, who is now in this place

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of being the mother or father for their parent with dementia.

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Now they can have their parent in this.

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home, not a nursing home.

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Cause I know when I think about a home, I think about it.

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You walk in there and it smells like urine.

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No, this is a house.

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You walk into a living room and each person had their

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own room and own bathroom.

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And people there to provide their day, their activities of daily

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living, their food, their medication, their, whatever they needed, they

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didn't have to worry about that.

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Plus they had other elderly to be around, which has been shown to improve.

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Quality of life for those folks and then it's easier for family to come in and

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those then family has Increased peace of mind so we hit two things at once.

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It is a very difficult business.

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It's very hard We've now come to where we own the real estate and are providing

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that property for another operator So still feeling the good impact.

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I'm just doing it a little bit differently

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So is that the core aspect of your business now is the?

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Is these

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communities?

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It's actually not the core aspect.

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Now the core aspect.

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So after that, I got involved with a group helping to bring food to a

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food desert area in Tulsa, Oklahoma.

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So North Tulsa is a population of about 33, people.

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And there was not a full service grocery store.

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There were dollar generals, dollar stores, quick trips, or convenience

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stores there, but not a full service grocery store that could provide.

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Full service groceries, including fresh produce.

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So our original idea was to come in and put a grocery store and we wanted

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to build an indoor controlled farm so we could have produce locally

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produced for that grocery store.

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And it was going to be our franchise model.

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We ultimately got the grocery store built.

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I'm a part of several different I'm going to say communities, but part

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of several different organizations there in North Tulsa that help

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provide fresh food for people.

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And one of them is called FreshRx.

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And what we learned is that diabetics, we take uncontrolled

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diabetics and provide them.

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So this was a nonprofit.

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We provided them with.

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healthy food, taught them how to cook it, talk through eating it.

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And we used, we started out with, I think, 50 people and over the year they

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are a one C's, which is a measure of how well your diabetes is controlled.

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Out of control is above eight in control is we like them at six, seven, but people

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went from 14 a one C's down to 10 11 in a year with medication with, I'm sorry.

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Medication.

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Yes.

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But they weren't, they didn't have to, they were able to

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decrease their medication because they were eating better.

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So along, this whole thing is just proving that what we already knew,

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honestly, is that food is medicine and that healthy food can help

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prevent so many of the things that we deal with in our medical community.

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So I didn't say that North Tulsa, I'm sorry, that Tulsa had done a resilience

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paper that showed that the people of North Tulsa lived 11 years less

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than the people of the rest of Tulsa.

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And while that is definitely multifactorial.

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One of the main reasons has to be, in my mind, lack of access to good food.

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That grocery store is there, that grocery store is doing fairly well.

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It has not been an easy, it seems like I don't take on anything easy.

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I started out as one of the first 100 female urologists in the country

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and nothing, I've done or gone after has been so easy since then.

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But it's the things that drive me.

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It's the things that make, to me will make the biggest difference

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in the most lives in those are the things I want to tackle and get done.

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That makes sense.

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So yeah, with the grocery stores and then indoor control farming

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and working with farmers.

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So land and, god, words are just escaping me right now.

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Resil it's not resilient.

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It's a regenerative farming, making the soil better while providing the food so

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that the food has more nutritious value, bringing fresh produce to the Midwest,

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where usually we're getting most of our tomatoes, strawberries, all those

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kinds of things from the coast, and there's a big carbon footprint for that.

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And then there's all the water issues going on with everything.

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So if we can do that more.

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Locally, it decreases all those things.

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Now we have a more nutritious food because it doesn't have to be picked so early.

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I'm sorry, I get on a soapbox about food.

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That's

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okay.

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So with all of that, you said, you always happen to find these opportunities

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as they're presented to you.

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How did this one?

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I, the guy, a guy called me and asked me if I wanted to help them and help

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them by raising funds for this project.

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And he had heard of me or we had met at a meeting that I went to on a regular basis.

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So a conference that I'd gone to on a regular basis.

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And this is the way most things happen for me.

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And for many of the people that I work with is you have, you go

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out, you go and seek relationships and it's, you don't find them.

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As well on zoom, it was back before COVID when you met face to face and had

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a drink and had dinner and you just, over time built relationships with a lot of

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people, and that's how I've come to be in the position that I feel I'm in to

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be able to help these women who want to invest, but don't have the time to do the

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things I've done over the past 15 years to get here now I can introduce them to.

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Projects and sponsors and people that I know are good and safe and will

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protect their money, my folks money, as well as their own and make sure

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they get the returns as best they can.

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We all know all investing involves risk.

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When you have people who are watching out for you, they will do

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everything they can to make sure you at least get your capital back.

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Just to remind everybody you can learn more at Money with mission dot com.

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And if you found any value in this so far, can you do us a quick favor and

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share it with another investor friend?

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It would really mean the world to me here.

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So Felicia is it sounds like the way you were talking about the

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different stages of your investing.

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You went from single family homes.

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You went to syndicating The senior or assisted living centers and now you're

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talking you were talking about the I'm not sure what to call this farming or

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localizing Grocery stores that type of work you could tell that and maybe I'm

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misreading this but That last story and the situation you're currently in, there's

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a passion there that didn't seem to come out regarding the previous two endeavors.

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Would that be fair to say?

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You are 100 percent correct.

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This is pushing me.

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It really is.

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And it, there's times I thought, why the heck did I have to

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do medicine to get here?

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And now I like you had to do medicine to get here because all the things I learned

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in medicine, which just to back up a little bit, we don't learn a lot about

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nutrition, but it's always been in me.

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This thing that I just knew that food had something to do with all

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of the things that are going on.

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And I'm this I'm older than I hope I look guys.

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So there, now nutrition has become more of a.

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thing and you got to eat better even though it still doesn't, you still

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have to have money to me to eat well.

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Organic food is not inexpensive.

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Supplements are not inexpensive.

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If you want, I just, there's so many things I can talk about.

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How you go to some grocery stores and you have cherries in the middle

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of winter and cherries don't grow anywhere close to the middle of winter.

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Just eating food in season and all these different things about that will help

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affect the nutrient value of the food.

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People are fat, not necessarily because they're fat because they eat a lot

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and they eat a lot because they're not getting the nutrition that they need.

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So they're working, their bodies are telling them you need to eat more

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because I don't have what I need.

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And so they're eating things that are available.

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They're eating things that are.

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Cheap to eat.

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They're eating things that are convenient and it's not the healthy stuff.

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So it's really a passion for me to work, to help people eat better, to be

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healthier and live better, longer lives.

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Because that's how we make, get the chance to make our contributions

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on this earth and while we're here.

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You're not the first person that I've heard and I listen

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to a lot of audio books.

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So be forewarned.

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I think I, I heard an audio book not too long ago where it was actually said

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that we're, Eating ourselves or starving ourselves to obesity in a lot of ways

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because of exactly what you said A great I can't help but notice when you

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walk into a grocery store a majority of the grocery store is processed food

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in boxes To preserve shelf life and the stuff that's actually healthy.

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And the last thing you can get to is on the periphery on the edges,

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or they make you walk through all of this boxed food to get to it.

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It's all part of the marketing

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aspect of it.

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It was very much in me with that grocery store.

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You could, you learned so much about marketing.

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It's just stuff that drove me nuts.

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You can, you walk in the grocery store and right here, you want to

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have this thing that everybody wants, but it's sugar, but yeah, everybody

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wants it, but you want it there so they can just grab it and put it in.

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So to me, just like medicine, sometimes our grocery stores are set up for it.

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Profits.

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Everybody's got to make a profit 100%, but I think we have to figure

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out a way that we can help people be healthy and make a profit unlike.

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Just like our sick system that we have for health, air quote health

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hospitals can't make profits if people are or healthy, right?

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So as much as I'm going to get on the soapbox that I probably

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don't need to get on right now.

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But there are so many things in our society right now that are

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not set up to help us be healthy.

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So one of my things I'm working with a lot of people working to collaborate

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with a lot of people is this is gigantic.

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This is bigger than Felicia can fix herself.

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We need lots of people with lots of great ideas to help make this

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Oh, that's overhaul of our system.

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So first of all, you don't have to feel the need to hold back if you

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feel, if you want to be on a soapbox with what you've been saying so far,

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I'll be back there cheering you on.

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So don't feel like you're gonna, you're gonna step on anybody's toes.

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Got it.

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Can I ask, we've talked about your past, what?

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What is your future here now?

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What are you hoping this becomes?

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Oh man, that's, I want it.

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I am looking for a movement.

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I'm working with another, with a group.

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The name of their company is Philanthroinvestors.

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And the thing is to have a movement where people are investing their capital, their

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time into projects, into companies, and not just the ESG, that kind of stuff,

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but to companies that are, that you can look at and you can know that what they

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are doing is going to make a difference.

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Part of the thing, one of the thing I got on my site you'll find is about clean

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water and helping companies clean their own water because our infrastructure,

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our water infrastructure in this country is, I can't even remember how many

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dollars it's going to take to bring it up to standard up to what it should be.

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And it's not millions.

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It's billions of dollars to get it to a good standard.

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It's Flint, Michigan is the beginning.

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Some of these other places, Mississippi, another place where

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we just had a water problem.

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Those are just the beginning things.

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So getting clean water, this is the United States of America, right?

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We should have clean water.

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And so That's another, there's just those kinds of things and getting this movement

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where people are actually in just, it is the thing you invest and it's not charity.

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You want to make money.

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I'm not talking about charity here, guys.

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It's for profits and it's for impact and those two things can and 100

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percent should in my mind go together.

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Just to remind everybody, head over to Felicia's website, money with mission.

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com.

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You have a ton of resources over there that everybody needs to

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check out, including your podcast.

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But it's really nice to see you being, you having so many resources because

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if you click, if you go into the top of the page, there's a resource dropdown.

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And I don't know, there's gotta be a dozen free reports and.

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Information

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here for people.

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Yeah, there's a lot of good stuff on there.

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Just different things that you that are out there to invest in that you don't.

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It's just for ideas.

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It's very Oh, who knew I could invest in water?

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Who knew I could invest in?

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Carbon capture, who knew I could invest in and have money coming

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back to my account and making this big difference in the world.

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You can make a difference very easily.

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So that's what those are there for what I

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think is really interesting.

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And the way you're handling some of this is that every time I've seen somebody

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tried to do any kind of involvement.

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Whether it's, the farming and the local agriculture or making a difference

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like this, it's always been presented in a way to heartstrings trying to

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get you motivated through emotion.

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And I've always thought that if this actually is anything like this is going to

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actually take off is if somebody can see.

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Some sort of profits from it.

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Yeah, that's what that's a really different take and I don't think we

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should be embarrassed by that at all.

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You, we have to have our foundation.

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None of us can do anything.

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None of us can get anywhere.

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If we are, if our foundation, if our needs are not met and I'm not talking about just

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food and shelter, I want fancy things.

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I'm not shy about it.

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I like my stuff and I like my stuff and I like to make a difference.

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Those two things are not mutually exclusive and I do them together.

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And you want to move back to Hawaii?

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I definitely want to move back to Hawaii and look at the ocean on a regular basis.

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Felicia this is, Felicia, this was a great conversation.

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It's really interesting to talk to somebody who's so

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passionate about the particular.

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Investment strategies that they're pursuing.

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In the time we have left, I do have some rapid fire questions, but I

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might twist a couple of them on you just to give you a heads up.

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If you're ready for it, I'm

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ready.

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Go turn my brain on.

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So do you have, with the experience you've had now between all of these

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different investment strategies, is there a real estate investing

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myth you'd like to bust here today?

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Real estate investing myth.

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The myth that was busted for me is that you have to start with single

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family houses or, and then I'm going to even take it bigger is that you have

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to invest in something that somebody lives in, you do have to invest in

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something that people need, whether they work in it pick food out of it.

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Buy things there.

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Yes, but it does not have to be someplace people live.

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Sure.

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Yeah, that, that's becoming the case.

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I just recently had somebody who does farmland and it wasn't just flipping land.

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He invests, buys farmland and rents it or leases it out to, to, to the local areas.

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It's yep.

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And you help them even

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after five years of doing this every once in a while you run into somebody

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who's doing something different.

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It's great.

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Yeah.

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Outside of Rich Dad Poor Dad, is there a different book you'd recommend everybody

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checking out or what are you reading right

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now?

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You know what, my problem is I'm usually reading two or three books

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at a time and I've actually this year decided I'm going to read more fiction.

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So fiction's been on my, by reading I mean listen to Audible, but the books

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that I have found that spoke to me a lot.

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There's one of 'em is on negotiation called Never Split

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The Difference with Chris Voss.

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That book to me is, I love that book key.

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It's not even a hard read.

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It's a very easy read and it.

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Talks about negotiation.

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And while you may think you don't negotiate, you negotiate every day,

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whether you're a stay at home, mom, stay at home, dad, or whatever work you do,

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you negotiate in some way every day.

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And to do it intentionally and with consciousness, the way that

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book teaches you is amazing.

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The other one that I really is Stephen Pressfield's, The War of Art.

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And that one talks about, it's a kick in the pants for you if you've been

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sitting around waiting for your thing to come to you and to start doing it.

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It talks about, you just got to put your butt in the seat and get it done.

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So he says, I

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actually just bought that book.

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I haven't read it yet though.

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Yeah.

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It's interesting.

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Coincidence.

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It's a good one.

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It's a good one.

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What is the biggest real estate investing or business mistake you've

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made and what did you learn from it?

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The biggest mistake, we're going to talk about our 2000, 2007 to 2000, I don't

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know, 2006, I don't even remember what years it was, but on that run was our

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mistake And are my biggest lesson, which is what all the mistakes and failures

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are when you really look at them.

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And the lesson I learned about that specifically for real estate

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was don't be undercapitalized.

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And for myself is that.

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You can overcome almost anything.

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We were, it was bad, ugly, and I can tell anybody who wants to hear the

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stories, can I will tell them to you.

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And I don't even cry about it anymore because I just learned

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so much too, that I can overcome.

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And when you do something really hard that you don't know you can get

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through and you walk, you stand up and you lift your head up and you're now

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back on top of things and you really can see you know you can do anything.

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If you could go back in time and give your younger self one piece

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of advice, what would that be?

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Don't be afraid.

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Start, if you feel that you should do something, go do it.

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And just it's, don't be afraid.

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Things are going to be just fine.

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And that's actually what I tell my daughters now who are at the age, I wish

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somebody would have told me that it's like and that's not going to matter.

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They don't believe it yet, but I'm just like, honey, that's not going to matter.

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Don't worry about it.

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It's not going to matter.

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And that's another huge thing.

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How much time do we spend worrying about stuff that now you look

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at and go, what was that about?

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Yeah, I've always found that interesting, really, and it's something that

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I continue to fall in that trap.

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Me too.

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You constantly worry over something that, in the end, when you think about it, you

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really didn't have a ton of control over, and it, whatever's going to happen is

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going to happen whether you worry about

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it or not.

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Or not.

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And the other thing I go is in seven days, it's going to make any difference

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or in a month, is this going to matter?

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Will you even remember this one month from now?

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Like probably not.

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So what are you spending all this time in this mess for?

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Let's go get out of this.

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This is the only one I'm going to time you on.

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You got 60 seconds to give everybody one piece of advice that they can

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implement in their business right now.

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What would

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it be?

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If in your business, you are doing it alone, you are not being efficient.

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Find the things that you love to do that you are good at the two, two of

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them, you love it and you're good at it.

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And that is where you should be.

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That is your sweet spot.

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Start figuring out how you can get somebody else to do the rest of that

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stuff and your business will soar.

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That's not my advice.

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I can't remember the book I read that from, but that is.

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That's the thing you've got to do what you are good at and what you love so

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that you can enjoy doing it and get somebody else to do all the rest of it.

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Is there a question or concept you wish we would have covered here today?

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No, I think we covered, no, I think we got it.

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The only, the biggest thing is for me is community and team.

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And people you can trust and going on this journey and having a good time.

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That's key, key is enjoying what you're doing.

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So if you're going to start investing, but you're scared, get with some people

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who can hold your hand through the whole thing and you can have some fun and laugh

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with them and vent with them and have the whole thing and just move forward.

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Somebody who can remind you that seven days from now, this isn't going

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to be a big deal and you can go.

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I really appreciate it again.

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It is money with mission.

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com.

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Take a look at the resources there, especially the seven steps to building

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wealth really appreciate your time.

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I hope you'll consider coming back again

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sometime.

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It was fun, Jack.

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Thank you so much.