Digest

Jeff and Megan, a couple who have built a successful real estate portfolio, share their journey from partying and drinking to becoming sober homeschool parents and real estate investors. They met at a music festival and were both struggling with addiction. They decided to get sober together in 2015 and found a church that helped them on their journey. They started learning about real estate and found that they were able to get traction in the business after getting sober. They started with a long-distance flip in Albuquerque, New Mexico, which they lost money on, but learned a lot from the experience. They then moved to Lincoln, Nebraska, where they found a more affordable market and started buying rental properties. They also started a staging company, which Megan runs and Jeff doesn't touch. They now own about 80 properties, most of which are flips, and about 25 rental units. They also own four sober living houses, which they rent to the Oxford program. Jeff shares his story of being medically discharged from the Marines after a parachute accident that injured his back. He talks about how he overcame his back pain through calisthenics and how he's now 100% recovered. They discuss the importance of finding productive addictions and how they've channeled their desire to party and drink into working out, making money, and buying houses. They also talk about the importance of doing your first deal in real estate, even if you lose money, because you'll learn a lot from the experience. They emphasize that real estate is not easy and that it takes a lot of work and dedication to be successful. Jeff and Megan discuss their home staging business, which they say is a valuable investment for sellers. They share their experience with using paper lead services to find deals and how they've been able to secure 100% financing from local banks. They also talk about their challenging experience with a sevenplex project that has required significant repairs and unexpected expenses. They discuss the importance of finding a niche in real estate and how they've found success with midterm rentals. They also share their thoughts on scaling their business and the importance of finding a balance between work and life. They emphasize the importance of taking risks and not being afraid to step outside of your comfort zone. They also discuss the importance of finding mentors and people who can help you on your journey. They share their personal stories of how they've been influenced by mentors and coaches who have helped them to achieve their goals. They also discuss the importance of having a vision and taking action to make that vision a reality. They emphasize the importance of finding a balance between vision and action and how they've learned to work together as a team to achieve their goals. Jeff and Megan reflect on whether high school was truly the best time of their lives, considering their current success and the choices they've made. They acknowledge that while their lives are better now, they recognize that many people's lives don't improve after high school, leading them to question whether their high point was indeed high school.

Outlines

00:00:00

Introduction

This Chapter introduces Jeff and Megan, a couple who have built a successful real estate portfolio, and sets the stage for their story of overcoming addiction and achieving financial freedom through real estate investing.

00:01:14

Jeff and Megan's Background

This Chapter delves into Jeff and Megan's individual backgrounds before they met, highlighting their contrasting upbringings and the challenges they faced, including addiction and career crossroads.

00:06:20

The Journey to Sobriety

This Chapter explores Jeff and Megan's transition from partying and drinking to becoming sober homeschool parents, emphasizing the pivotal role of faith and the importance of finding productive addictions.

00:11:18

Real Estate Beginnings

This Chapter focuses on Jeff and Megan's initial foray into real estate investing, including their expensive education, their first deal in Albuquerque, and the lessons they learned from their early mistakes.

00:27:52

The Move to Lincoln, Nebraska

This Chapter details Jeff and Megan's decision to move to Lincoln, Nebraska, in search of a more affordable market for rental properties, highlighting the role of their network and the serendipitous timing of the eclipse.

00:31:44

Jeff's Parachute Accident

This Chapter recounts Jeff's harrowing experience with a parachute accident during his time in the Marines, detailing the incident, the resulting injuries, and his long road to recovery.

00:36:40

Overcoming Back Pain

This Chapter focuses on Jeff's journey to overcome his back pain through calisthenics, emphasizing the importance of finding a workout routine that works for you and the unexpected benefits of a strong core.

00:41:10

Jeff and Megan's Current Portfolio

This Chapter provides an overview of Jeff and Megan's current real estate portfolio, including their mix of flips, rentals, and sober living houses, and their unique approach to staging and midterm rentals.

00:52:06

Home Staging Business

This Chapter discusses Jeff and Megan's home staging business, highlighting its profitability and the data that supports its effectiveness in increasing property sales. They also discuss the importance of professional photography and the benefits of staging at any price point.

01:00:35

Finding Deals and Financing

This Chapter explores Jeff and Megan's strategies for finding deals, including their use of paper lead services and their success in securing 100% financing from local banks. They discuss the benefits of working with small local banks and the importance of building relationships with lenders. They also share their experience with using hard money loans and the challenges of high-interest rates.

01:15:25

The Sevenplex from Hell

This Chapter recounts Jeff and Megan's challenging experience with a sevenplex project that has required significant repairs and unexpected expenses. They discuss the importance of being prepared for unexpected challenges and the need to be flexible in your approach to real estate investing. They also discuss the importance of finding a niche in real estate and how they've found success with midterm rentals.

01:30:39

Pivot Points in Life

This Chapter explores Jeff and Megan's personal pivot points in life, including books that have changed their perspectives, people who have influenced their journeys, and their advice for younger generations. They discuss the importance of taking risks, not being afraid to step outside of your comfort zone, and finding mentors who can help you achieve your goals.

01:41:53

High School vs. Real Life

This Chapter delves into Jeff and Megan's reflection on whether high school was truly the best time of their lives, considering their current success and the choices they've made. They acknowledge that while their lives are better now, they recognize that many people's lives don't improve after high school, leading them to question whether their high point was indeed high school.

Keywords

Q&A

• What is Jeff and Megan's experience with home staging and how does it impact their business?

  Jeff and Megan have found that home staging is a valuable investment for sellers, as it can increase the sale price of a property. They have seen firsthand the positive impact of staging on their own flips and have even started a staging company that Megan runs. They believe that staging is beneficial at any price point and that professional photography is essential for creating a good first impression.

• How do Jeff and Megan find deals and what are their financing strategies?

  Jeff and Megan primarily use paper lead services to find deals, which are companies that provide leads from individuals who are looking to sell their homes quickly. They have found that this method is more effective than traditional marketing strategies like cold calling and text blasting. They have also been successful in securing 100% financing from local banks, which has allowed them to scale their business quickly. They believe that building relationships with lenders is essential for securing financing and that small local banks are often more willing to work with investors who have a strong track record and good credit.

• What was Jeff and Megan's experience with a sevenplex project and what lessons did they learn?

  Jeff and Megan's experience with a sevenplex project has been challenging, as they have encountered significant repairs and unexpected expenses. They have had to replace multiple sewer lines, deal with difficult tenants, and navigate the commercial permitting process. They have learned the importance of being prepared for unexpected challenges and the need to be flexible in their approach to real estate investing. They have also learned the importance of finding a niche in real estate and how they've found success with midterm rentals.

• What advice do Jeff and Megan have for younger generations who are considering getting into real estate investing?

  Jeff and Megan encourage younger generations to take risks, not be afraid to step outside of their comfort zone, and find mentors who can help them achieve their goals. They believe that it is important to find a balance between work and life and to prioritize their relationships. They also emphasize the importance of having a vision and taking action to make that vision a reality.

• What are some of the key takeaways from Jeff and Megan's story?

  Jeff and Megan's story is a testament to the power of overcoming adversity and achieving financial freedom through hard work and dedication. They have shown that it is possible to overcome addiction and build a successful business. They have also demonstrated the importance of finding a niche in real estate and the benefits of working with small local banks. Their story is an inspiration to anyone who is looking to achieve their dreams.

• Do Jeff and Megan believe that high school was truly the best time of their lives?

  Jeff and Megan question whether high school was truly the best time of their lives, considering their current success and the choices they've made. They acknowledge that while their lives are better now, they recognize that many people's lives don't improve after high school, leading them to question whether their high point was indeed high school.

Show Notes