Gurus Zac Canull and Meighan Wise with Keller Williams Indianapolis Metro North

Ian Arnold: 0:00

Hey, Rick, we had Zach Canole and Megan wise on today. And they do a lot of the investment side. So what was one your huge take some takeaways? I think the biggest thing was they've set it up as an easy button if if you I've had rental property, and I know how difficult it can be. And they've made it where it's not difficult for somebody, whether you're an investor, you've done it in the past, or you've never done it before, or your real estate agent, they'll teach you how to do it. They have it totally set up. Yep, it is unbelievable. And they understand the value of investing in real estate.

Unknown: 0:34

Yep. And I thought one of the really nice things and whether you want to be a silent partner, or you want to be more hands on, you have those options, because I'd be more than a silent partner. But yes, I don't care if you have listened to every one of our shows. And I know I say listen to him. This is one you have to listen to. Whether you are a realtor thinking about investing or whether you're just an average person. If you want to build wealth, this is one you need to listen to definitely should listen.

Rick Ripma: 1:03

Welcome to India's real estate gurus, your ultimate guide to the dynamic world of real estate in Indiana, and I'm recruited by your hard work and mortgage guy and I've been in real estate and mortgages for over 24 years.

Unknown: 1:15

And I'm Ian Arnold, a loan officer on Rick's hard working mortgage.

Ian Arnold: 1:19

And we're both with advisors mortgage together will empower you with expert advice market trends is a festival stories from Guru realtors and local experts. Whether you're a homeowner, investor or pro, join us as we navigate the thriving indie real estate market.

Unknown: 1:35

Now get ready to unlock the doors of success. One episode at a time.

Ian Arnold: 1:40

Today we have Megan wise and Zach Kunal Zach's been on before that you've been on? It was awhile back though. Yeah, I think that six months ago. Yeah. Okay. Yeah, we were really happy to have both of you here and especially having you back. And I know you've got some really exciting things going on in your in your careers right now. So, but we still want to start back in the beginning. So that you want to just kind of give us a refresher, and then Meghan could tell us about her.

Meighan Wise: 2:09

Yes. So I grew up around real estate. My dad had been in real estate, I think for 53 years, he had a company out of Carmel called am real estate. And you know, even as a kid, I was going to open houses and showings with him. So it had always been something that was kind of on my mind. And then, few years after college, I decided to get my license and come back and work for the family business. And at that point, about a year in my dad was kind of transitioning to retiring. And my older brother and I, back in 2015 started our own brokerage called nd home shop. And a few years later, I started getting involved with working with investors, kind of watch them go through the, you know, the home flipping process or starting to get a couple of rental properties, and definitely intrigued me. So in 2019, I started, you know, I got my first flip myself, and it's kind of been off to the races since then. So I've been working with, you know, both my residential customers, you know, friends and family and, you know, people that I've met along the way to help buy and sell real estate, but I've also been building out rental portfolios and helping investors flip properties. And you know, fast forward to last year, I started a new division within my brokerage called the control group. And then I met Megan, and we started, you know, kind of just masterminding some ideas. And here I am now joining her team over at Keller Williams portfolio.

Ian Arnold: 3:49

Well, you I know Megan's really and you both are really into the investment property. Yeah. And so Megan, tell us about knockabout graphs and properties yet I know you're you're dying to, but how about well, what was your life like before real estate? How did you get it?

Meighan Wise: 4:04

It's a really cool, thanks for asking I, I went to school, because when you're a little girl, you just think I'm going to be a teacher because you love school. And that's how I was. So I went and studied English, and I was gonna go pre law but I at Purdue, but I ended up switching to, to when I when I got I ended up switching to teaching. And then I got into teaching world and I was coaching basketball. And I realized that I couldn't see the sun. I was getting in school at seven and leaving at eight o'clock. And those are still days I have right now, but it's way more general when you're working for yourself. So I was in the schools working and I went back and got my license in psychology. And I use that master's degree to work in as a counselor and I was a guidance counselor at Carmel High School. So I was coaching and training kids on you know, their next steps after high school and how to how to be successful in the school. And that was really fun and enjoyable. But during the time I had a lot of nights and weekends and summers off, I'm not high energy and so I thought what could I do with my time and I was building a house and I sold a couple of houses, to friends, I said, come build with me and the builder up at that time said, Oh my gosh, you've sold more houses than my assistant, you should just be a realtor. And then lo and behold, I got my license. And I was doing, working in the schools and selling real estate, and I loved it. But then when I had my second child, it was push came to shove, and I had to give up one career. So I gave up counseling for the real estate world did not realize that real estate is a lot of counseling. Yes. And so the, what I've learned in helping hormone on teenagers transcended very well to you know what, anxious or nervous or excited adults who were going through their journey of selling or buying, and so I love, I love helping and that's, that's my helping people is my go to and what fills me up. And so when I was doing this real estate gig, I grew very quickly, and I grew team and we're, we've been top 10 in the nation, number nine in the nation. And thank you for my former brokerage, I was with them for 15 years at Berkshire Hathaway HomeServices. And number one, and stay consistently. Number two, number one team in the state. So like a lot of really cool accolades that it didn't really care about at the time, I just cared about servicing my clients and being at home to be a great mom at night. So I was able to raise my babies, and my youngest now is eight. And I looked up and realized, I have a lot more to give into this world. And I wanted to share my passion of how I stumbled into building my own portfolio of rental income. And that really helped me when I had a 2018 divorce and I was able to amicably remove myself from a situation that wasn't like the best for me and my kids. And in that situation, those rentals and those income really was able to get me back on my feet, in terms of finances. And so I really have this calling to everybody who's in situations where they want to have more financial freedom. Well, no matter the reason, because I was able to do it as a self taught teacher. So my passion is just helping others and I figured that out as I flipped homes and bought rentals during the time I was at Berkshire Hathaway and my team started going, what are you doing? How do you do it? Can I do it? And now four years later, I have just opened a franchise of Keller Williams and we're really excited about using that franchise as a as a vehicle to bridge the gap for regular residential realtors who need to focus on themselves invest in themselves and build their own rental portfolio. So they can have income in retirement because we don't as Realtors we don't have for one case,

Ian Arnold: 7:38

right. You know, it's funny, I was telling you off air but we had a Ron rich and his son Jacob rich, they're financial planners. Yeah. And they're, I asked him so what is the number one thing a real estate agent can do to build wealth and he said, buy real estate. I love that because they you know rose right?

Meighan Wise: 7:57

It's our forte and if we're doing it for others, we have to do it for ourselves. There's there's so many reasons to do it besides having financial freedom and having a you know, some kind of retirement in the future. But just understanding the ins and outs of investments because nowadays, those are the buzzwords generational wealth, passive income, Airbnb, short term, long term, mid term, all these kind of things are here now and as Realtors we have to grab hold of this we have the knowledge I just want to empower the realtors to say use the knowledge that you already have. And look at the amazing indie market that you're in for investments the cost of living is low our taxes are low we have such low crime rate we are we have a beautiful city to invest in and to start now you said we're what in the country by number four in the entire nation on this housing markets in the in the contract US housing markets in the country residential and investments and we always have investments is that can I have had, I've had a net international investors all the time trying to put money here. Yeah, and let's take advantage of it and teach the realtors how to help themselves and how to help their other clients.

Ian Arnold: 9:00

I've been amazed at how many people I've worked with that, that are in California, Colorado, Louisiana, all over the they don't live here, they buy rental property here, they understand the value they do. Yeah,

Meighan Wise: 9:13

and just the cost of living is so different here. You know, if you're looking in somewhere like California, and maybe San Diego, for example, the starter home might be$700,000 or more. So if you come across someone that's wanting to invest, whether it's a realtor, or anyone really, maybe they only have a couple 100 grand, or maybe they have 50 grand, and how do you get started, you know, in California, you can get in by a patch of dirt for that. So it's like here, you know, if you had, you know, $500,000 to invest, you could buy five or five homes with that. So it's just being able to, you know, spread out the risk a little bit and, you know, get involved at a much lower price point. So it's attracting money from all over the country, and all over the world really is great for our economy.

Unknown: 9:58

So let me ask you this. So If an agent is out there, and they thought about it, but they don't know what the first steps are, just call us just call us we can teach

Meighan Wise: 10:07

you this, the answer is we have almost I mean, we have agents all the time. That's why we're merging is because we feel together our brains and our resources and our experiences can really empower that agents like I want to do, I just don't know how that we hear that so much. And it's really just having the competence of having a mentor like Zach or myself behind them, hand holding them through the process at the beginning. I mean, nothing can be learned by just reading a book you have to do. And so you have to get off that finish line and just start, but it's scary to do it on your own. And it's scary to do it with your hard earned money. So you need to lean on someone that has expertise like that can I do? Alright, so

Unknown: 10:46

let me ask you this. Now, I know you keep meeting realtors, and that might be just your main phone. But let's say my wife's an accountant, let's say if she wants to get an investment. Yeah. Can she still call you?

Meighan Wise: 10:57

Oh, yeah, okay. Yeah. And our audience is for the everyday investor, the newbie investor, the wannabe investor, and the reelers because we believe Realtors should be investing in themselves. But we also want to help them help their clients. We also have our own personal clients that come to us that say, if you have a great investment, let me know we have list of people that always ask. And so we want all the realtors to understand that there are people out there who want to learn, and the realtors everyday realtor that your wife may know, they don't have this knowledge, they don't have this access to source deals like we have. And so we want everyone to understand whether you're a client, whether you're a customer, or whether you're a realtor, we have a platform that we're going to educate and train. So we have, we have two that we're starting one going to be realtor focus only, and one's going to be investor open to any possible investor.

Ian Arnold: 11:47

The one thing I saw the other day that I thought was interesting is it shows and, and just and I think since like 1905, or some ridiculous, there's only been one time in the history that homes depreciated. And and that was in 2008 months. Yeah,

Meighan Wise: 12:05

yeah. And thirdly, the last 50 year average is somewhere close to 5% across the board. And then if you look at you know, Indianapolis specifically, or the surrounding suburbs were probably much higher than the average. You know, we've seen five, six, you know, 1012, maybe even up to 14%. last few years. And I think that's something that people get confused on. Because you might see headlines, that homes in certain markets that have already been inflated, maybe, maybe their values are staying a little bit stagnant. Or maybe they're coming down a little bit because they were already artificially inflated, while the reality is real estate's always local, and for us, and for this area of, of, you know, Central Indiana in general, we're we are poised for growth, no matter what. And, you know, if you've seen the developments going on with downtown, and then more corporate companies being attracted, you know, more tech companies coming in, in Annapolis, it's driving that residential growth. So, you know, yes, everyone's seeing across time, you know, somewhere around 5% appreciation, but I think we're gonna beat that spread, you know, for the next five years. So by now. That's kind of the key. I wish I had thought more five years ago. Yeah, I wish we'd bought more 10 years ago.

Unknown: 13:28

I mean, I think that's the whole mindset is, is what you don't know it's for, like, as you as we got older, and I told my wife this I go, to be honest with you. When I first married yeah, I didn't want a house because you would have disagreed with what house I bought and everything. But I should have bought it just for an investment. Yeah. I mean, I didn't get married till I was almost 30. So I wish I mean, think about it. If I woulda bought it at 24, I would have had it for six years. Turned around resold it had, I wouldn't tell you to keep it keep Yeah, and then do it. But I'm just saying, Yeah, I just had something as foresight as your account should have done. So. Yeah,

Meighan Wise: 14:01

exactly. They say the best time to buy a home was 10 years ago, the second best time to buy a home is now right.

Unknown: 14:08

So let's go through it. So they call you and then do you walk them through every all the steps? Do you show them? Alright? Is this a good area? And or maybe you should actually look at just mentioning places. So maybe we should look further out like mccordsville or Brownsburg or how do you guys do this?

Meighan Wise: 14:28

So I think in the beginning, it's determining what the customers goals are, you know, are they looking to build more capital? And if so then maybe flipping trying to get into flipping houses and something with a little bit more of a short term return? Versus I'd like to put some money into an a long term investment then obviously something like rental properties makes more sense. So once we can establish what your goals are, then we can kind of steer you towards how much capital you know how much capital do you have available? And what is your timeline to take action. And once we know, you know, the certain metrics, and maybe a few more, that helps us kind of steer you in the right direction of, okay, well, if you only have, let's just say$50,000 to invest, then most of the project needs to be financed, here's the multiple ways that you can do so. Or, you know, if you have the capital upfront to do in cash, then you could purchase and renovate and then take on financing later. So it just comes down to you know, what are their goals? What's their timeline, and then how much capital are they, you know, ready to invest, and then we can kind of steer them in a certain direction of based on the price point, based on your goals, we would recommend this area or this type of investment. And, you

Ian Arnold: 15:45

know, years ago, many, many years ago, I had rental property, and back then it was really easy to finance rental property, then it got very difficult. Now it's really fairly easy to finance rental property. And I thought, I thought I should bring that up. Because it is something that people don't realize, it's not a difficult thing to do. You need money,

Meighan Wise: 16:06

you need some money,

Ian Arnold: 16:08

invest, right you need, you need to be a partner and you don't finance 100%, back when I did it, you can actually finance 100% on a rental property. But, but it's important that people know it's not difficult to finance a property. But it's more, it's more difficult, which is what you guys are addressing is knowing what to do,

Meighan Wise: 16:27

right just who to call you. There's so many loans out there, there's that are 10% down. So we can find you a property at $70,000, we can find your property at 200, we can find you at 400 We can get you in tow property for 10%. We can also the rehab for that property can be rolled into the loan. It's all pretty simple. We have very good contacts with hard money lenders and with conventional lenders that like your guy selves that you probably can dip into that DSCR loan that are available now, which is a great loan that you can put against a rental property that allows you to take your cash out of that property, but still allows you to keep the whole yeah,

Ian Arnold: 17:07

there's there's just great, great products out right

Meighan Wise: 17:10

yeah, and we'll teach you about them. So somebody

Ian Arnold: 17:13

is interested and they want to get a hold of you. Either they're looking to buy sell, or maybe it's a real estate agent wants to know how to do this. Yeah, what's what's the best way to get a hold of you to

Meighan Wise: 17:24

buy for me by phone at 317-548-8908 or by email at Zack Z AC at canol dash group ca n you ll dash g r o u p.com.

Ian Arnold: 17:43

And what was that phone number? Again, I

Meighan Wise: 17:44

can't remember it was 317-548-8908. Perfect. And I'm just a text away all day every day 7am to midnight. So 317-937-0134 I'm in meetings most of the day all day and with clients typically doing this already. So if it's a quick text, introduce yourself or voicemail and then we can connect and what we really like to do is face to face buyer consults on what your needs are. And a lot of people think I don't have the money you do if you're sitting with 70% Actually people have more than 50% of equity in their home right now. Right? So we can go and do a HELOC you can get $100,000 out against your property use 50 grand to put down and the other 50 for rehab. And we can return a very nice return on that in about two to three months time. So that's the money is a there's a lot of creative ways people are get sometimes especially in Indiana work to conservative, and we think oh, we can't we can't use our own money, your money in your home is your equity, you can use it to make more money for you. And that's what we're really empowered to teach people. And the equity today is incredible. It's incredible. And nobody wants to necessarily move right now unless they have a job need or divorce or death or they have to relocate. A lot of people are sitting on so much equity they do not know. So we're happy to do a free equity analysis and say, Hey, you bought your home in 2020 for 400. It's actually worth 525 right now. And you can take that $100,000 equity out and you can use to do a HELOC with a decent right and you can take that cash and fuse it into a rental. And then once you get it you can keep it as a long term rental or you could do a flip and get your money back quickly.

Unknown: 19:25

Yeah, I think this is awesome just because, I mean my parents never gotten to the vestment part. I mean basically their retirement and at an even at a young age was I got a job and my dad took me to the bank. He goes alright he wants to get a Roth IRA to deposit such such funds every single month and that was the way yes but it's it once I got into this business then I started thinking alright, so wife wants to upgrade house. Yes, let's possibly rent this one out. Let's do this. Let's pull out like you said a HELOC and use that money for the down payment on a new one. So there's a lot lot of people that are listening to this, I will say this right now, and they think this is easy. They're listening to you guys. Could you guys make it sound like, Oh, this is like spreading butter? Easy, but you've seen the show two seconds. All right, then. So then let me ask you this, why should somebody go through you guys, instead of just going out on their own? What mistakes do people make? You need a life

Meighan Wise: 20:23

jacket with? The ocean? Yeah, I think this is definitely not something that, you know, if you have no training or no experience, I would not recommend doing this, you know, it's not as easy as you see on HGTV, there's a lot more that goes into understanding even just from the initial analysis of a property and understanding that just because you're spending money on a property doesn't mean you're adding value, you know, there's certain things that are going to increase the actual value, and there's certain things that are going to increase, you know, maybe a buyers interest in the property and understanding how to find that balance of what renovations to make, that do provide you that return on investment is really only somebody that's in the business and has experienced doing this is really qualified to advise you on you can't read a book about it. Yeah, it's not you can't read a book, you know, you can listen to a million podcasts and research it online. And I think a lot of people get caught up doing that. The reality is you need someone that's had the experience that we have, and is able to explain and advise, you know, this is what I would recommend, here is a deal that we've put together, you know, we've helped design the scope of work, we have a contractor's bid ready to go. And, you know, for our, our customers and our clients and partners, it's, here's where you can apply money. And here's where what it will work. If you're trying to guess and make this all up, you know, along the way. Good luck. So

Unknown: 21:59

let me ask you this. So are there. Let's say I wanted to do that, put it take out$100,000 put 50,000 out, am I having to contact all these contractors? Or? Or is that Oh, no. Is that handled? Okay? So basically like, okay, easy. You'd be like, basically, you could be a silent partner act and just looking for an investment for five, six months or whatever it takes silent people

Meighan Wise: 22:28

have stories where they come in and go, I'm going to spend 40 on a rehab, but 10 of it is going to be on a fancy backsplash. And no, that's not how this works. So we appreciate people who trust our knowledge and experience and the magic that Zach and I have is in 2022, I sold 223 homes. So the average realtor sells three a year. So the experience of the volume of the amount of homes that I've sold in and around Indianapolis, allows me to pair up well with Zach to say, buyers want this buyers like that. This is what the market is dictating. When you sell three to four houses a week, you have a great pulse on the market. So we're able to combine our experiences and our knowledge what buyers want that here now that you know, painting your house gray is not cool anymore. Do you guys know what it is? It's white. So you don't know that unless you're literally in it with a designer's interior decorators with you know, clients who actually are up on the modern trends of design and decor. So we want to always be on that forefront. And so our experience can't necessarily be bottled up and like written and handed to you. We understand the opportunity zones like is little flower a great place to to invest in or is it speedway. Is it Brownsburg, you know? So we are understanding where the migration is happening. And it's happening north and it's happening south, we are in the know on developments and happening around like 146 and OLIO in four years is going to look very different. There's a new golf course community being built there with commercial and industrial. So if you don't know that, then you don't know why the 80 acres I have listed on Cynthia right now is is listed for $4 million. Because the opportunity for a developer is huge. So those kinds of things you just you just don't know as an average person. So you have to lean on us in our experience of where the opportunity lies. But no, we're not wanting you to call the contractors. Now we are having a division where you are that realtor or that investor that wants their hands on we will handhold you will we have to educate you first you don't We don't want you to be silent if you don't want to be silent, but we want you to be educated first before you start talking. I

Unknown: 24:39

rather be the silent guy like you guys handle all the stress and I just sit back and hopefully cash in later.

Meighan Wise: 24:44

Yeah, exactly. No, you will cash in later and the stress is on us but we've done it so much that it doesn't stress us out. It maybe gives us annoyance for an hour and then we move on to the next project where you're not sleeping at night if you found out that the sewer scope out Your house on College Avenue. Turned out with what? Yeah, like, we just had one blockage and potentially, you know, what, who do you call? Maybe it needs to be replaced? And how do you handle it? You're Who you calling, we have the people that call you don't want you to call?

Ian Arnold: 25:18

They got a $4 million property. And yeah, that's a perfect start.

Unknown: 25:23

Let's go to pay rates here. So what do you guys see? I know you guys, basically are getting this going. Now, do you guys plan on? And let's sit and think about the long future in the next 10 years? Do you guys think a whole team or what do you guys What's your ultimate goal goal will

Meighan Wise: 25:48

be leading a brokerage, where everyday Realtors understand how to invest for themselves and invest for their clients. And people know that when they call Keller Williams portfolio realtors, that they have access to certified investor agents. So we have an education platform that also provides source inventory. And if you go through that platform, as a realtor, you are going to be Keller Williams, associated certified as an investor agent. So you know, an everyday person can go, I'm going to call them if I know I want to have investments.

Ian Arnold: 26:19

To me, that makes total sense. And one of the reasons I didn't continue is because I didn't know what I was doing. Yeah, it's scary. It's hard. It's hard. It was very hard. And the people I had supposedly working on the house didn't do their jobs. It was just it ended up. And I was a terrible, terrible, terrible property, man. Yeah. And I believe it.

Meighan Wise: 26:40

Take care of their home. They're so busy, don't take their own home, let alone their secondary home and you lean on the tenant to take care of it. Yeah,

Ian Arnold: 26:46

well, I leaned on the tenant to pay. Yeah,

Meighan Wise: 26:49

I did, too. I did too recently. And I got I even my own stuff, I got taken advantage of $7,000 last year off of a tenant, because I kindness of heart and extenuating circumstances and agreeing to an extension and green new extension. So you know, I learned a little along the way as well. But we you can't get taken advantage of as a landlord, we always believe that you should not self manage. It's very stressful to self manage, we have done it and we do it. But we believe that we're going to have an we have an in house portfolio management company. So when or if you find your rental and you do don't do a flip, you do a long term hold, you can confidently know that your house is being managed taken care of property management is not fun. It's extremely hard. It's not super profitable. But it's something that is necessary. And it's typically 10% of your profits per month.

Ian Arnold: 27:39

That's the only time I made money. When I got a property manager, yeah, yeah. No, you look at you take Oh, I'm gonna spend 10% Yeah, like, I don't want to spend it right. But the reality was, that's the only time I made money. Yeah, they can.

Meighan Wise: 27:51

They can save you a lot more than 10%. By just understanding, you know, how to handle certain situations. And, you know, that's the type of stuff that only experienced property managers know, know how to handle right.

Unknown: 28:04

And just to put everybody in perspective, an ex counselor is telling you this is less stress take.

Meighan Wise: 28:10

I have a Site Master stressed me, I understand the psychology of anxiety and stress, we want to remove that and have the easy button for our agents and our clients. We also want to have the in depth handholding for our realtor. So if you're a realtor listening and you want to do it for yourself, join us right now it's free in house for Keller Williams, that's what we're doing. That's part of our value add and our value proposition of being with us is having access to source deals that you can sell to yourself or to your friends, and also have this handhold workshop along the way. We're really excited about it. We're starting in March

Ian Arnold: 28:45

of this workshop. Does that Is that does that apply for just a customer out there? We're not a real estate agent, but they want to learn how to do yes. Can they do that?

Meighan Wise: 28:54

Yes, we're gonna have to one is gonna be open to the public and one's going to be just for portfolio realtors.

Unknown: 28:59

Awesome. All right, so we're gonna take a little sidestep here in a second. Yeah. So first. If somebody's watching, somebody's listening to this, they have questions. What's the best way they can reach you guys?

Meighan Wise: 29:11

Call or text 3175488908317937013 For call text anytime all day. All right,

Unknown: 29:22

which one's nicer about answering calls? Hold on, come on. You probably heard Oh, probably just sad. She doesn't mean I asked who was nicer?

Meighan Wise: 29:36

Yeah, I'll talk to anybody. All right.

Unknown: 29:38

So let's get to know you guys a little bit more. So I know Indiana has tons of great restaurants. So what's each one of your favorite restaurant to go eat at cheese?

Meighan Wise: 29:49

To be honest, I just recently got to see and go to the Restoration Hardware restaurant. And I thought that was an absolutely unbelievable experience. It's, you know, it used to be a home and it's on this absolutely gorgeous lot. And you pull up and it's almost like this Miami style mansion that you walk in. And it's, you know, it's also an art gallery. It's also a furniture store and there's just just the ambiance and the level of service that they provided there. It was something that to me, I feel like I hadn't seen in Indianapolis before. So highly recommend. Where is it? It's off of Michigan. Yeah, like 54th in Michigan area. Okay. Yes. Make reservation. So get online make reservations are usually about three weeks out. Oh, really?

Ian Arnold: 30:39

Yeah. Well, new restaurants tend to do. Yeah, they do. Yeah. All

Meighan Wise: 30:42

right. I don't really I'm not a foodie. I only eat to survive so I don't really like That's why she's skinny. Eating protein bars all day. So I guess I might go to would be Chatham tap, because nachos if you ever had shoutout, but my fancy, like, fancier place would be prime 47. I lived in Carmel. Very nice. Nice steak house. Yeah, yeah.

Unknown: 31:05

So your mind's always been jazz kitchen? Down? Oh, that's a good one. So Rick doesn't have on he doesn't he's not allowed to eat. I have

Meighan Wise: 31:14

five kids under the age of 13. So eating out or eating in sitting down doesn't usually

Ian Arnold: 31:21

five under three. As

Meighan Wise: 31:23

I get ready for this. I have a seven year old and eight year old, a nine year old, a 10 year old and a 13 year old in the house. Wow. So 3d came out of my body and the other two blissfully came into my life four years ago. Okay, so

Ian Arnold: 31:35

you have five kids that you're taking care of? Yes. And you sold? How many houses? 223.

Unknown: 31:41

That's it. Why not? 224.

Meighan Wise: 31:43

I had a team of seven that helped me. I managed about personally manage about 40 million of that myself. Yeah, the numbers. When does she sleep we are pretty astounding. And I just sold and had my babies and sold them my babies. And I kept my head up. And Berkshire Hathaway put me on a national panel. And I realized when I started traveling in 2018 2019, that my numbers were pretty incredible for the state of Indiana, let alone nationwide. So I'm standing up on awards, you know, next to California and Texas and all these million dollar properties. And it feels pretty cool. And then I realized, you know, I have something here. I know what I'm doing. And I love coaching. I love teaching and sharing it to others. So opening opening a brokerage after 15 years of real estate was my next step, just so I can have a bigger a bigger breadth of like getting into people's knowledge getting into their heads and letting them know what they can do and inspiring them.

Ian Arnold: 32:36

Well, you've done an awesome job.

Meighan Wise: 32:37

Thank you. Yeah, I love it. So fun. And

Ian Arnold: 32:41

I did one your eye closed 112 million. It was seven 694 loves. Wow. And you look out and you go, how did you do that?

Meighan Wise: 32:51

I don't I don't know how I just do. And I'm not great. I have a team that tracks I have an admin that tracks but I don't track during the year and at the end, I put my head up and I was like, Oh, well, Damn, that's pretty good. I was part of the first team that ever broke 100 million in the state of Indiana. And after that I was, you know, we did 300 million years in a row. And then I left that because you know that that was amazing. And it's so fun. But now I want to give my knowledge and in my experience to to the next generation. I'm an old lady now.

Unknown: 33:29

All right, so we got a lot of we get a lot of hope, first time homebuyers. We try to tell them what buying a house can do for them. So let's do this. Let's talk about what if somebody were to start investing at a young age? Yes. What's the benefit? Over time? But

Meighan Wise: 33:46

well, I can definitely say that your first investment should be your own home. And that's something that I always have a message that we've always tried to pass to first time homebuyers is that not only are you getting yourself a home, but you're investing in your future, and it's probably going to be your biggest investment. And that's why it's extremely important to use someone that understands the home as an investment and not not just someone that will open the door and say, oh, yeah, you know, buy this one or buy that one. It's, you know, we try to bring that not that level of expertise and knowledge and understanding that, you know, not only is this a good location for you, but you know, the neighborhood has been on an upward trend in this area has appreciated X percent in the last few years. So we can be confident with helping our clients you know, get them the best deal possible, but also let them know that this is an investment in their future. So basically, we would just say, you know, start there and get your own home first and build equity over time and understanding that there are going to be options in the future once your home's value goes up. Either you sell When you buy a bigger house or like we talked about earlier, you tap into that equity and you start investing in your next property. And you as a new first time buyer, you can purchase 2223 24 have mom or dad or rich uncle cosign, figure it out, but get into a home and then rent the other bedrooms out. People don't want to be in a cramped apartment right now for $13 a month, you can rent out two of your rooms at 500 apiece. And that's what the half your mortgage, and all of a sudden your friends are paying for you to have a mortgage and paying down your mortgage.

Ian Arnold: 35:31

Same Same with like a double or triplex.

Meighan Wise: 35:34

I love I just posted about my double yesterday I bought a double in Indianapolis on 21st Street sight unseen for $70,000.02 years ago, it's now worth 130,000. And I get about $850 aside. So it's 717 100 $1,700 a month and it's I don't touch it. And so, but it's grown from 70 to 130 in two years, like I can take that equity. So listeners are listening, that that dip that made money in equity I can pull out of the home and go purchase another property. And that's called leverage. Yes.

Ian Arnold: 36:14

You know, I have a customer. I actually just talked to her yesterday. She's a real estate agent, and what has been for years, and she owns a tremendous amount of real estate. I need to talk to her. And she and she doesn't I mean, she's so flushed with cash. It's unbelievable because she has, she has 25 or 30 properties. She doesn't know anything on them anymore because she's had them forever. Great. Wow. And it's she's like one of the she's one of my favorite people. So just phenomenal talk to you. But she's I don't know how old she is. But she's getting Yeah, she's a word me.

Meighan Wise: 36:48

And that's her retirement. She doesn't have to work. She chooses to work. Yes, she chooses to. Yeah, that's great. She came

Ian Arnold: 36:53

in one time. And she she had been replacing their floor at that time. She was probably 7073 74 years old. She was she loved it. Yeah, they did. You think how great that is not only financially, it's great physically. It really

Meighan Wise: 37:08

is. I have it, I have this lovely investor. His name's Michael Graham. He's probably in the late 70s. He's built his portfolio over the years. And he does his whole own handyman, his own property manager. But his tenants love him too. He's watched them grow, raised children, his homes, 1015 years and his homes. And I've sold a couple of them over the years as his body has been kind of getting too tired to do some of the heavier work. But the there are some really cool stories about local investors who love the their tenant, they're creating opportunities for a tenant to live in a home because she didn't have credit. And now she's now she's trying to buy it from him. And then we're going to do a sale between them. But it's just such a really neat experience. And I've done the same to provide a safe home for someone who can't get into a home, or they're priced out of apartments and they can't pay for an apartment or their family is too big. And now you can give them a nice home with a yard for their kids and their dog and otherwise they wouldn't have been able to get into one. So there's some really cool stories that inspire me by being a landlord. Yeah, it

Ian Arnold: 38:07

just it's awesome. It's really awesome to do one other thing. I was talking to a guy up in Chicago, and he was he was older. And he said, he goes, you know, you don't have to be smart to end up rich. That's sure. Because he said, I started buying rental property when I was younger, and I'm rich. And he goes, I'm not that smart.

Meighan Wise: 38:28

No, he just was had enough risk in his mind to go I could try this. What's the worst case the house doesn't work out? You sell it? Yeah, like it's what's the worst case if it doesn't work out, you sell it and and we just said how in 50 years, home prices have always increased. So I it's it's a no brainer to me. And I wish that more brokerages talked about it more openly and taught more on it. And they did it. So I created one.

Ian Arnold: 38:56

I think it's awesome. Thank you.

Unknown: 38:58

So let me ask you guys this question. So how many investments properties do you have?

Meighan Wise: 39:04

I jointly owned with my fiance, 38 doors

Unknown: 39:08

and Jack,

Meighan Wise: 39:09

I jointly owned 20 doors right now.

Unknown: 39:11

All right. That right there speaks volumes. So as this works, we that's the reason I wanted to ask is because you guys have been doing it. You guys know how many you have your own? It's not like you're just basically Oh yeah, I did this. You wrote it in a book and now you're selling a book

Meighan Wise: 39:27

with somebody else's money and that's it. No. We had our own blood, sweat and tears into many projects that have gone good and bad. But overall, they're all Luker at the end of the day. It's lucrative, lucrative and that was something that you know, in the beginning when you're first starting to get into it, there was a lot of trial and error and my beginning and a lot of you know a lot of the first projects in my first flips. They were more of a learning lesson than they were a lucrative situation so, but the reality is everything Eagle Project has taught me something, if not many lessons. And this is just one of those things where as you're learning over time, and you're kind of honing in your skill set, you're, you're able to tighten up the margin of error and be able to deliver, you know, a more consistent return on investment. Because you, you know, sometimes you just have to make the mistakes and kind of fail forward to be able to know what not to do.

Ian Arnold: 40:28

I think that some of the things you guys help with what you do, the mistakes are going to be very, very, very limited.

Meighan Wise: 40:35

Yeah, it's just like, you know, like, you guys, you guys know way more about mortgages than I do. I'm gonna call you and ask you right? And I have I have a pretty cool starting story was I listed a home in downtown fishers 10 years ago, I got five calls the day listed, because everybody but me, because I'm a brand new realtor with very little training, knew that the downtown fishers area is going to be all read it read on write, five, call four or five calls a day, and I stopped and I go, why would why would I sell it to you guys? It was $100,000. It was a small Townhome. I'll buy it. And that's how I got started. Because I was like, Well, I'm Something must be going on on this in this area. And I did a little research on that. Oh, I'm doing it. So I bought this house. And it was a two bedroom. It's $100,000.10 years later, I still own it. I love that little house. It's worth about 252 75 I get 1900 a month on a two bedroom and downtown fishers now, would you I mean, before COVID, it was 1400 rental rates have drastically increased due to the housing shortage due to lack of inventory. So that happened and I put a tenant in there. And cool enough, I had a friend go through a divorce and needed a safe home, immediately put her in there. So it was like a great story to be able to share a home with someone that needed it in that time. So then I thought everyone told me Don't you know to stay in the schools because they have great pensions and 401 K's you know, this is back 10 years ago, and I thought, well, they scared me. So I thought well, that's going to be my that house is gonna go for my first child and he needs College. He needs anything that housing can afford. Well, I have three kids. So then he's like, Well, I have to do three, as long as I get three. So within about two years, it was so easy. And I was like holy smokes. This isn't that difficult. I leveraged and then I bought three. And then I thought, Well, why stop there. And I didn't get to seven. And then I met my fiancee, Josh, who's basically the godfather of Marion County Center Township. He got shot at this week at one of our rentals. And that's and that's where the real money is made. And so he was able, he was a market, local market specialist for national big institutional firms, or big REITs would say I want to buy packages of homes and five or 10. And so he was negotiating a sale of a package of 11 homes. And I heard him on the phone in our early days. And I thought, well tell me about this package. And So lo and behold, I said well, I would I would want to buy this package. And it was a professional golfer who was liquidating which investors liquidate all the time to upsize and apartments or multifamily whatever he wanted. He said, you know, Josh, after eight years, you manage this poem, you bought these homes, you manage them for me, I made so much money, just sell them for what I paid. And he had paid 75,000 per door. So you know, not knowing much. I my ears go, oh, well, that's good deals in 2022. So and that purchase price of that package was $100,000. The appraised value was 1.5. Wow. So the day I bought that package, the spread, I made an equity is life changing money, right. So I took that risk, because of my experience, being a baby investor and doing it a little bit on my own, I was able to take that risk with Josh and buying that package. And it totally changed our world. And now that package pays for our home on guys that we just purchased. So we're very proud of that. We're both hard workers, we both grew up in blue collar families, and we're wanting to express our gratitude for understanding and doing this. And then we want to showcase it and teach others that's really our passion.

Unknown: 44:07

So let me ask that. So when you get the first person that comes in there, and they doing their first investment, how many more times do they keep doing it? What do you think in percentage, they do it again?

Mindy Riley: 44:19

All the time.

Meighan Wise: 44:20

There's very few investors that I've ever come across that, you know, are in this idea of I just want to do one, you know, one and done. I think the reality too, is just understanding that especially for flipping homes or even rental properties, one property is not going to change your life. It's not going to make you rich, you're not going to make a million dollars on one flipper, one rental property. You know, really building that volume or being able, you know if on the flip side, it's how many can you turn a year and how many you know, can you utilize the funds you're making and reinvest and have two projects going the same? of time, or eventually three or 410? Or, you know, as you scale up, and then can you take some of the money that you're making from the short term, you know, investments, such as flipping? Can you take that and put it into long term investments. So it's like you can use the profits you're making on your short term turns to build your long term portfolio. And that's something we always advise is, you know, why not get involved in an investment in both. And it also makes you a little bit market proof, you know, if there was something to happen in the future where the market was turned down? Well, no matter what either the demand for wanting to purchase a home or the demand for wanting to rent in a home, it's always going to be there, people need a place to live. So it's one of those things where it's a way to diversify your investments. And we recommend, you know, being able to do both. The

Unknown: 45:57

reason I asked is because and you answered great is because if you've never done it, you're a little apprehensive, but what it tells me why your answer was that look, once somebody doesn't want they want to do it again, is because they got their return. And that's that's what speaks golden mean. So let me ask you guys, somebody's been listening to this. And now they got the bug. Yeah, they have to do something. Yeah, whether they're they got equity in their house, whether they already have funds, they want to talk to you guys, what's the best way

Meighan Wise: 46:32

they can reach out call or text 317-548-8908 and call or text 317-937-0134 Any day, all day,

Ian Arnold: 46:43

and to get a hold of Ian or I go to hard working mortgage guys.com That's hard working mortgage guys.com Or you give us a call at 317-672-1938. It's 317-672-1938. And please follow us for more in these real estate gurus almost forgot to say Follow.

Unknown: 47:01

Follow reminder, if you have any friends, family, coworkers looking to buy, sell, refinance, or even invest, contact us, we'll be more than happy to help you guys. Hey, thank you for joining us. It's been a pleasure having you guys on and we look forward to hearing you guys come back later and tell us more success stories and how you guys have blown up?

Meighan Wise: 47:21

Sure, we're very excited. We just bought our first one together last week, Oscar and I did. So we're going to use it as a as a guinea pig for our brokers to really dive in and do field trips and understand all of this. So we're really excited to share thank you for having us and, and we feel your energy and excitement for it. We're thankful that you guys understand it. Because we just want to get out to the world that there is ways to have some financial freedom outside of your nine to five and we're happy to help you get there.

Ian Arnold: 47:47

And this is one of the best ways you Oh, what is the best place?

Meighan Wise: 47:53

trust fund baby or you own your own business or you invest in real estate, that's the way to make some money where you can have some financial success and freedom. So we're here to help. Yeah, and you know, our goal is to help our clients build that generational wealth through real estate. That That could also be you know, realtors as well. So we're just trying to help investors understand, you know, whether they're, it's their first time or they've done 20 In the past, we want to be a resource available to them to help them build their portfolio and build their wealth over time. And my next phase after this is going into the high schools and getting in the entrepreneur classes and getting those seniors who may not be going to college, or who have marketing and skills to transcend college and maybe just jump straight into this kind of stuff. We're really excited about teaching the younger generation, building their own wealth and not having to rely on that nine to five.

Unknown: 48:43

You know, when you said go to the high school, I literally thought you were saying you're gonna go get some teachers and tournament real estate. That's like the number one. People get

Meighan Wise: 48:53

about four on my team ever. Before former former Spanish teacher and a former assistant principal, teachers make the best Realtors they're super, super detailed and thorough. So hey, teachers out there call me too.

Unknown: 49:06

All right. Hey, thank you guys. Yeah, thank you. Thanks for having

Mindy Riley: 49:10

us number one. MLS NUMBER six, six we'll find the current NMLS number at home and 95469 equal housing opportunity some restrictions apply.