Episode Transcript
[00:00:00] Speaker A: Hey, everybody, you're kicking it with the Homeboys and the Homeboys podcast, and we are very excited to be with you today. Whether you are a real estate investor already or you want to be a real estate investor, this is the show for you. We've got Melissa Nash with us, who is a very experienced real estate investor herself, and she also helps others to get into real estate investment. So we're really excited to dive in. We're really excited to have you here. First off, Melissa, how you doing?
[00:00:30] Speaker B: I'm doing great, you guys. Thank you for having me. I was, I was hoping I could get out to Indianapolis and do this in person, but, you know, this is the next best thing.
[00:00:40] Speaker C: Well, we're coming out of the freezing cold weather here, if you haven't noticed. Every time you talk to Clint and I, we bring up weather. It's, it's. We just. It's so miserable here. It's so cold in the winter and so hot in the summer that right now was the perfect window for you. We got, we got some decent spring finally hitting here, so if you get.
[00:00:57] Speaker A: Bored in the next week or so, come on out. You can enjoy the brief window of good weather that we have here in Indiana. It will close really quickly, and Scotty and I both are big foodies, so we, we love it when, you know, our podcast friends come out so we could show them a, you know, give them a good meal, too. So for the future, keep that in mind. Otherwise, you stay where it's really sunny and nice there in California.
[00:01:22] Speaker C: So, Melissa, we know you pretty well from doing a lot of real estate together, and, and you've helped a lot of folks buy properties all over the country, some of them through us that you send to us and some to other places. But before we get into that side of it, I kind of wanted to hear your, Your backstory, because I, I know a little bit about it, and I think it's really interesting. And sometimes I found that the people that are the most successful in real estate are folks who have learned some lessons before getting into real estate through some other paths and, and maybe had some diversity. And it sounds like you're. But you, you've. You bumps in your road that real estate helped pull. Pull you out of. So tell us about your. Your early career.
[00:02:06] Speaker B: Perfect. Let's just dive right into it. So, you know real estate, I never really. Obviously this isn't something we learn in school, right. Unfortunately, there's no class that's like Real Estate 101. This is how to create you know, financial freedom. I always knew that rich people owned real estate, but I didn't really understand the how, the why. It was more just like, you know, you have to be a millionaire to invest, you know, the, the billionaires of the world, you know. And so I always knew it, but I didn't really understand it. So it wasn't really a path I even considered. But my husband and I are entrepreneurial spirits and we accidentally started a company 2006, 2007, where we ended up creating a multimillion dollar clothing brand, actually a children's clothing brand. And it just kind of started small and just kept on growing and it, it got pretty big. Every celebrity, their, their kid was wearing our brand. I mean, the PR in the press was really cool.
Everybody from Angelina Jolie to Britney Spears to, you know, the Kardashians. I mean, all, all the names had our, our kids clothing brand on them.
[00:03:30] Speaker C: Well, Angela, Angelina Jolie at that time was adopting a new kid every few months. So I'm sure she needed a lot of clothes.
[00:03:37] Speaker B: She totally was. She totally was. Yeah. I mean, yeah, it was, it was around that time when social media was just kind of starting. And so you would still buy the magazines at the grocery store with, you know, the celebrities on it and whatever they were wearing and doing. So it was just kind of like we would always like get the magazines every week and be like, oh, is there their clothing brand on a celebrity? You know, kid, how cool was this?
[00:04:05] Speaker A: Was this pre Brittany shaving her head and going through her. Her episode? Because we actually had, we actually had one of her bodyguards as a tenant of ours, believe it or not, here in Indiana. It was kind of wild.
[00:04:18] Speaker B: Oh, my gosh. Yeah. You know, everybody's connected in like, what is it the seven degrees of connection or the. What is that?
[00:04:25] Speaker C: Yeah, six degrees, I think, is separation of Kevin Bacon. Yeah, we're all connected to Kevin bac. Within Seven people hearing that. I do. Yeah, I do. I think I'm only three away from Kevin Bacon. I'm, I'm like maybe four from the Rock, but I'm pretty close with Kevin Bacon. If he met me, he'd think I was cool.
[00:04:42] Speaker A: There's going to be a lot of youngsters listening to us. Like, why are they talking about Kevin Bacon?
[00:04:46] Speaker C: No, no, because wasn't he in the Guardians of the Galaxy or something where there was references to him?
[00:04:50] Speaker A: That's right. So they'll know. There you go.
[00:04:52] Speaker B: Ah, very.
[00:04:53] Speaker C: There you go.
[00:04:53] Speaker B: Yeah, we're like aging ourselves. We're like, we grew up on Footloose, right?
[00:04:57] Speaker A: Correct.
[00:04:57] Speaker C: Yeah, footloose and magazines at the grocery. We've aged exactly.
[00:05:02] Speaker B: People are like, what?
But, yeah, no, I mean, yeah, it was, it was amazing until it wasn't. I mean, it was, it was our baby, it was our family business, you know, and all of a sudden we know what happened. In 2007, 2008, 2009, I had dabbled in real estate. We had bought a rental property. I did not know what I was doing. And in fact, one of them. Well, I bought a couple of them. One of them I bought. It was a vacation rental and there wasn't even an Airbnb and I couldn't even find a cleaner. I couldn't even find. I mean, I mean, I literally was booking people through a platform that I had found and I said, sorry, there's no cleaner. You're gonna have to clean yourself before you leave.
[00:05:51] Speaker C: That's crazy. Where was that? Where was different world, that rental property?
[00:05:55] Speaker B: Yeah, the Washington coast. So we lived in Washington at the time, and it was a little town next to Astoria, Oregon.
[00:06:03] Speaker C: Okay.
Yeah. Beautiful area. So, so that was your, your entrepreneurial start was you had this business going, you know, with, with your, your husband when the economy was booming in 2006, 2007, you're seeing yourself on magazine, your product on magazine covers, famous people. I mean, you're living the dream right then. And then, my guess is 2008 comes and punches you right in the face.
[00:06:29] Speaker B: Oh, yeah. Oh, yeah. Well, because if you think about it like this, and I've reflected a lot about this now, you know, it's always nice to have that moment where you can, like, reflect back on everything. And, you know, we were selling baby jeans that were like, you know, 100 bucks, $85.
And, and when that, when that world collapsed, Nobody was buying $85 clothes, you know, baby jeans from the boutique down the street. You know, that. That's what was happening.
[00:07:00] Speaker C: Yeah. I have this, this theory that I don't want to go off on a tangent, but that, that when times are good in the economy, you know, there's, there's some different economists that I follow, and one of them, he's got what's called the lipstick scale. And so a lot of things when the people get scared and sentiment, people are worried in the economy, there's a lot of things that they don' as gross as this is, men don't buy new underwear and socks. But you know, what does improve in sales is lipstick, because it's that little feel good thing that somebody can do for themselves. It doesn't cost much, but then you see all the luxury items that just tank. So you're in that sector that just gets murdered. I mean it just. When the economy pulls back and you were still a young business, you know, it sounds like you were still young and growing. So, so you guys obviously are in a really bad spot. So how do you fight your way out and then get into real estate from there?
[00:08:04] Speaker B: Great question.
So we ended up just pulling together a fire cell on, on the business we were stuck with. And so, you know, not to bring up the T word, the tariff word, but we were importing from overseas. I know all about tariffs and yeah, who, who really is paying for those tariffs? And we got stuck with a lot of goods that were sitting in containers in the middle of the ocean as we were getting emails from stores because we were wholesaling, they, they were going out of business one by one. In the meantime, they had pre ordered these goods that I prepaid for.
So, you know, what do we do with a warehouse of, you know, these $85 baby jeans?
[00:08:51] Speaker C: Sheesh.
[00:08:52] Speaker A: So are, are you just cringing, you know, turning on the TV now and just hearing the word tariff over and over and over and over again? Because I know, I'm sick of it. And you know, I'm, I've got six and eight year old daughters. We're in the bluey phase that I don't have to watch a lot of news. And I've heard the word tariff way too much.
[00:09:08] Speaker C: Yeah, I mean the last time I heard tariff this much was, was in econ School.
[00:09:14] Speaker A: Econ 101.
[00:09:15] Speaker C: Econ 101, where, you know, and all they did was tell us how bad tariffs are for, you know, we went to school kind of the McKins professors, 101 who hated terrorists, so.
[00:09:25] Speaker A: Right.
[00:09:25] Speaker C: Yeah. Anyway, so, so okay, so you guys fight your way through that. You're wholesaling and trying to empty the shelves and at that point your real estate's obviously also getting murdered.
[00:09:39] Speaker B: Done.
[00:09:39] Speaker C: Yeah, done. So you guys have to start from scratch or less than scratch right from there. Okay, so what, how do you transition from done. You know, all this negative stuff has happened. You know, we've, we tried our best and we got, we got smacked down. How do you go from that to getting into real estate?
[00:10:01] Speaker B: Yeah, so great question. So I, I was reflecting at that time going, what are we going to do next? I mean we sold, we sold the business, right. So we had a little bit of a cushion. It wasn't much. We Had a little bit of a cushion, a little bit of time to figure this out. And I went, what is recession proof?
What is a recession proof business?
And so real estate is one of the things on the list. I mean, you go, you Google what is a real estate business. And you know, housing is not a luxury, it's a necessity. I mean, it can be luxurious for, for a lot of people, but it's a necessity. And so I was like, okay, how do I get involved with real estate? And I thought, oh, I need to become a real estate agent. I'm going to learn everything about investing and you know, all these things. Becoming an agent, no, that's actually false. I didn't learn anything from real estate school. I didn't learn anything about real estate investing. I, but I did learn that I don't like being a realtor. I don't like showing houses, I don't like sitting in open homes waiting for people to come and you know, decide if the closet was big enough.
And so I thought, you know, okay, so I've got my real estate license, what am I going to do with this? Tested it out for a little while. Did not like that, but thought, gosh, you know, maybe I like commercial real estate.
So I kind of started educating myself through that and then I, I kind of sucked it up and went back to work and kind of took a corporate job.
[00:11:36] Speaker C: Okay.
[00:11:37] Speaker B: And because I was really good at marketing and because I had marketed my other business and so I thought, oh, that's going to be my path. I'll do this real estate on the side and I'm going to do this corporate job. So going back to a corporate job and logging into somebody else's hours and building a business for them was not fun. I did not like missing my kids activities. I didn't like the freedom that entrepreneurship held. I just, I had a hard time with that. So I was like at that point I was hell bent. I've got to figure this out. I see. And at that time I had seen people out there making money with real estate and I was like, I'm going to figure that out.
[00:12:13] Speaker C: Yeah.
Knowing you now, the idea of you working at a corporate game just doesn't click with, with who I know you are. I mean, you've got an entrepreneurship, you know, heart through and through. It's not just your heart, it's your head, it's everything about you. And in fact that's, I think one of the qualities that makes you so great with helping other folks is the.
[00:12:33] Speaker A: Fact that you're Unemployable outside real estate.
[00:12:37] Speaker C: In fact, like, like us, we talk, you're unemployable.
[00:12:40] Speaker A: We feel the same way with entrepreneurship and, you know, and the real estate pass that Scotty. And I've created that, like, man, there's no way I could go back to, you know, corporate America. I lasted, I lasted 10 months anyway.
[00:12:52] Speaker C: Whenever I did it, I lasted three days. So. But not lying.
[00:12:55] Speaker A: He listed.
[00:12:55] Speaker C: Yeah, I literally lasted three days. Walked out without my paycheck. But, but I think, but I think that, that Canseco Capital Management. Yeah, it's a great job too, for right out of college, one of the highest paying jobs. And I left after three days. But, but one of the things I think that makes you so great with your clients and helping people is because obvious a diverse background, you did it, you figured it out, and, and you're passionate about this. And so I think that's one of the things that makes you so great, working with these clients who love you, you know, and they, they, you help guide them and, and much more. But I think that's part of what makes you so successful at helping others is your passion for it. And. Yeah, and, and the fact that you're unemployable like us in a corporate America.
[00:13:41] Speaker B: Yeah, well, you know, I think that, like, we teach what we know and we teach what we own. You should teach by experience. And I know there's a lot of, you know, these people out there teaching things that they have no business teaching because they haven't actually done it, you know, So I think that's, that's, that's how you teach. And you have to have a, a little bit of humility and to go, okay, I might not have the answer for everybody, but I'm sure going to get the answer for you because there's somebody else that I can get that answer from.
[00:14:10] Speaker C: Part of the reason that we did this podcast, besides the fact that it gets us out of work, you know, one day a week sitting in this office, getting to hang and talk to awesome people like you, is because there's so much bad information out there. And then the folks who have the true experience like you, like, you've seen it all. You've. You've invested in markets in every corner of the United States. You've helped people invest in every corner of the United States. You scraped your way up from a really bad situation to make it from scratch. Nobody handed you anything in life. These people like you are the examples that we want to try to amplify. Out there because a lot of the voices in. In the real estate world and the education don't know what they're talking about and haven't done it themselves. You've walked the walk. You've done it and you've. You started from a place where nothing was handed to you. And that's where most of these clients come from, too. They don't. Like you said, nobody's been taught this in school, so having somebody like you as their guide on this journey, it's invaluable. It's invaluable. And, you know, when people work with somebody like Melissa, if you're listening to this, there's people out there like Melissa who will literally guide you every step of the way. They'll share their experience with you. They'll. They'll. They'll help you find the right properties and work with the right people. So there's good people out there. You just have to find them. And at the end of this, well, she. She's even set up a little.
A website here directly for this homeboys podcast for anyone listening that wants to speak with her and help get her guidance. And it's themlissanash.com backslash homeboys, and we'll plug it again at the end. But, you know, if you're interested in real estate, this is. This is the. The fastest way to get up to speed, to learn a lot. She'll share everything. She's an open book. She'll share all her past lessons, the hard ones. She'll share her successes. She'll guide you. And there's nobody more connected across the country than Melissa. I mean, you have. You have people in all corners of the United States you work with, right?
[00:16:21] Speaker B: Yeah. And so, you know, thank you for all those amazing words. I appreciate that. I'm gonna have to, like, re. Relisten to all of this on repeat every day when I wake up in the morning, just to kind of, you know, give me that positive energy thing in the morning.
[00:16:35] Speaker C: Well, Melissa, you don't get feedback because you help people. And so I think it's important for folks like us who have worked with you for, I guess, nearly a decade now, or maybe over a decade.
[00:16:46] Speaker B: At least a decade.
[00:16:47] Speaker C: Yeah, at least a decade. And you get to know somebody and their strengths and what they offer the clients. And it's been neat to see the rewards of your clients, not just the clients you sent to us. But the beautiful thing is when clients come to us, we get to see the other stuff you've done for them in Other markets that we're not even a part of. And it's, it's really neat after a decade to see the, the, the positives that you've put in these people's lives. And so I know you don't get to hear that, but we get to see it and we, you know, so it's, it's good to you. There you are helping people. You're genuinely changing people's lives out there because there's a lot of snakes and you keep them away from that stuff.
[00:17:26] Speaker B: Yeah, well, you know, it's interesting that you said that a lot of people don't realize is when you, when you're working with somebody who has experience, who's working with other people. So like, let's say I'm, I'm working with a client who's new and who's never invested out of state before, you know, I'm walking them through all the landmines. Like, you know, avoid this and avoid this, and this is what you should be looking for. And, and let's really dive into your strategy. But so I've got this person who's a new person right over here. But they don't also, they don't realize that I'm also working with the investor that I've been working with, let's say for five years, six years, seven years, who is now on their 10th property. So as I'm working with that person, they're giving me real time feedback on what they're doing, what they're experiencing, what they're, what good or bad they've experienced. And as we're coming up with strategies for that person, I'm also talking to this new person going, well, and by the way, I'm getting real time information. What's happening right now, what's working for investors right now? Because I've also got my pulse on what all these other investors are doing. So we've created an ecosystem, right? So the new investors are getting live feedback from my other network of investors. And so I'm taking that information, I'm sharing it to this person and this information and sharing it with this one. So it really is, they might not see it, but I do. I'm in this world, I'm in this bubble and, and I'm, I'm the gatherer and I'm pulling all of this and I'm giving, I'm giving the investors. So when somebody says, melissa, how can I be successful in 2025 right now? What are the markets? What are the strategies? What's happening what are the, the loans people are getting? Then I'm able to go, whoop, here you go. This, this is the magic. This is, this is what's happening right now. Real time with real investors.
[00:19:12] Speaker A: And I think that, you know, real investors, I think that that's a pretty important word. I think, I think as a real estate advocate and educator, I think one of our biggest problems is dealing with what else is out there as far as content and other information that's going on. Like there's so much bad advice that's going on out there. And that's part of Scotty and I's motivation is to give real advice. And sometimes I think real advice isn't as sexy as some of the bogus stuff that's going on. And I always joke about Grant Cardone and all the ridiculousness and you know, some of these people that say you can, you know, rental arbitrage and all this other silly terms that people get caught up in. Do you see a lot of those challenges also whenever you're talking with customers, potential customers, that you kind of have to bring them down to reality a little bit.
[00:20:08] Speaker B: That, that's, that's actually the first thing that we do. That is my number one job. In fact, I was talking to somebody this and they called and they were just hell bent. I want to buy a $65,000 property and I want section eight and you guys are going to rent it out for 1600amonth.
[00:20:24] Speaker C: Yeah, yeah. And you won't have a new tenant every four months in that situation too. And have your house trashed four times a year. And yeah, yeah. I mean, you are a great safety net for you. You are, are great at stopping people from doing really dumb things. Not because you're the smartest person in the world, but because you've seen people make those mistakes. And that's the beauty of it is.
[00:20:48] Speaker A: But what amazes me is the people that won't listen to people like Melissa or like you or I that have been down that road. We get it all the time with that Section 8 stuff where people will come to us and like, look, we've been in this market for 50 plus years combined and we've never met one single person within Indianapolis or Indiana for that matter, that have made that model work. So why on God's green, there's God's green earth, do you think that you're.
[00:21:15] Speaker C: Going to be the first person, including this guy, who had over 100 of those properties, had to learn the hard way how dumb that was? Fresh out of College, over a hundred of those, they don't work. You know, and I think that's almost as important. That information that you're able to share and keep people out of trouble is like you said, the first thing you do and maybe the most valuable aspect of what you do is stopping people from making the mistakes. It's not just that you have access to, you know, you have your, your thumb on the pulse of real estate and you have access to groups across the nation who provide properties for investors and you know, who's who and who actually provides good properties and who, who provides real data and then backs it up with track records to prove it. But you also, more importantly, keep people out of trouble from doing something dumb.
[00:22:07] Speaker B: I try to, I sure try to. Sometimes I can't help everybody, but I try. You know, the most successful investors are the ones who are willing to learn from those that came before them or who are doing it. And you know, this guy that I, that I was talking to, I mean I, I went through every single scenario of well, what about this? What have you thought about this? And you know, if, if that Section 8 tenant is getting free money and the unit is being paid for, do you think they're going to respect your home? Do you think they're going to take care of the home? What happens when they le, decide they're just going to leave everything behind because they don't feel like calling it out and the homeboys team over here has to bring in a dumpster for you? Who's going to pay for that? You know, I'm just kind of going through like every single scenario and he's like, yeah, but, but you know, I watched this guru on, on, on TikTok and he's made, you know, $2 billion doing this. So I trust him and I'm like, cool, how much did you pay him for that system he's teaching you? Because yeah, he, I guarantee you he's making more money on the coaching than he is on those sect.
[00:23:10] Speaker C: All of them are. I mean the beauty of what you do is, is you don't charge. You help people, you know, acquire properties. You don't just teach them these lessons and listen to them and help them come up with a long term game plan. But you actually put properties in front of them, right? That's, that's a core of what you do. You connect them with lenders who have the right products out there. Because if somebody comes in, they're like, I'm, I want to be an investor. And hey, my brother in Law is a mortgage broker. I'm going to use him or my local bank is, you know, can, can do the loans. Those resources, they will quickly learn are going to make their lives miserable. You have to have the right pieces in your puzzle to be a real estate investor. And you know, part of what you do is put all of that stuff in front of the clients. Right. Lenders, insurance, all of that.
[00:23:57] Speaker B: Yep. And it's the easy button. So you know, why wouldn't I. It's always surprising to me is like, you can do things the hard way, go for it. If you want to learn those lessons on your own, do it. But I would say my ideal client, the client that I've been working with for is a busy working professional. We'll say that title. Whether it's whatever your profession is, there's a million different professions, but you're a busy person who doesn't want to go out and do all these things yourself. You don't want to put in the time to make those mistakes. And, and so whatever I can do to package this for somebody who wants to be as successful as possible with the least, least amount of risk, the easiest way and the fastest way. So that's, that's my goal is how can we get you there the quickest from point A to point Z with the least amount of risk and, and anything and, and everything I learn along the way. If I hear about something new or a new, a new lender, a new program, I'm usually the first one to try it out. I'm an investor as well and I've used every single lender that I recommend. I've done a loan with that I own in all of these states. I am a long term rent investor. I'm a short term rental investor as well. I've done 1031 exchanges. I've done cost segregations, I've done, I mean I have an IRA that I've invested with. I mean literally every single thing that's a strategy. I've done it myself because I'm like, why would I be telling people to do this if I'm not doing it?
[00:25:29] Speaker C: Yeah, yes, you have. I mean you've, you've done it all and, and you work with people who have done it all and you know that it's true. Exper. I'm going to, I've got a hot kind of a, I want you to, I want a hot take from you on we're in 20, 25 times are kind of weird. What are your favorite investment markets right now for Real estate. I'm putting you right on the spot.
[00:25:54] Speaker B: Oh, well, obviously, I love the Midwest. We're just going to kind of blanket the Midwest, whether it's north Indiana, the city of Indianapolis, Kansas City, St. Louis, you know, like, let's just say the Midwest, absolute 100%. And the reason why is because coming from a market like where I am here in California, a lot of my investors are East Coast, West Coast. It's very volatile. Right. I mean, the markets are going to go up and then we're just. Everybody's just kind of holding their breath and waiting to see when they're going to go down. And the Midwest markets are just consistent, they're stable. I've been working with you guys in that market in Indianapolis for 10 years. And yeah, sure, you know, we're going to see a little bit of highs, might drop a little bit, we're going to see a little bit of high, but it's steady. It's such a steady, predictable market. There's a lot of jobs, there's a lot of blue collar jobs, there's affordable housing. Investors can get into these markets for really affordable, you know, try buying a property in California for, you know, under 200,000. Yeah, it's, it doesn't exist.
[00:26:57] Speaker C: Our average home price in Indiana just broke $250,000. Just broke. That's our average. So, you know, that, that includes the higher end houses skewing that upwards.
[00:27:08] Speaker A: And we still have investment properties, you know, well, under, you know, 200,000.
[00:27:13] Speaker C: Yeah, we've got a great batch right now of houses in the $150,000 range that are all around this cool college campus in a neat area where all the professors live and, you know, where all the jobs are. And still for 150,000, do you think.
[00:27:26] Speaker A: There'S $150,000 house across the street from Stanford?
[00:27:32] Speaker C: It would literally be the size of a, like a 12 by 12 tile.
[00:27:37] Speaker B: Oh, I mean, we're talking 3 million, right?
[00:27:40] Speaker C: Yeah, yeah.
[00:27:41] Speaker A: And we're talking across the street from the third largest university in Indiana. So, like, I don't know, you know, it's easy for me to be biased here in Indiana, but, you know, I get what you're saying. And we know the other markets in the Midwest, we're not just, you know, just talking about our own. Yeah, it's. We call it boring. You know, it's boring. And I think that boring is good. You know, kind of like Gordon Gekko said in Wall street, you know, greed is good.
[00:28:07] Speaker C: You know, boring is good.
[00:28:09] Speaker A: Boring. You know, Is good. I think as far as long term real estate investors go, well, let the.
[00:28:15] Speaker C: Real estate do the work for you. That's the whole point. You know, you don't suffer through the.
[00:28:19] Speaker A: Volatility of everything that goes on in some of these other markets.
[00:28:23] Speaker C: Capture that appreciation. Your rent goes up over time and your mortgage payment stays the same. You've got all of these great factors that real estate does for you and it snowballs and it becomes like you say, you always say this. It's amazing what 10 years of good decisions in real estate will do for you. Not even a lot of action.
[00:28:43] Speaker A: Change your life.
[00:28:44] Speaker C: Just simple. And if you're out there and you're listening to this and you don't know the first step, there's a lot of people that the first step's the hardest. As you know, Melissa, you talk to folks all the time that first step. If you don't know what that first step is, I genuinely believe the first step is getting with Melissa, talking with her. She'll help you plan, she'll do all of those things. And like I said, she's connected to groups like us all across the nation now. We're obviously her favorite because we're the best in the nation, period at what we do. But in all seriousness, there are good people out there that provide good properties, have management built in. They have it all set up for you. And then Melissa can connect you with the lenders, with the insurance and everything you need as well as long term planning. And I suggest you go to themelissanash.com homeboys and just talk with her. It's really simple. You don't have to put in much info. Have a conversation with her. I think that she will open your mind to how easy this can be and how you should be doing it. And I'm scared to death of the stock market right now. I bought more bitcoin this weekend, which is also stupid to do. I bought more gold and silver. Even though it's all time highs. I should be talking to Melissa instead of doing this stupid stuff that I'm doing.
[00:30:00] Speaker A: Well, I think her website says it the best there. The five step plan to buy a rental 2,000 miles away without tenants toilets or rehabs.
[00:30:09] Speaker C: Yeah, leave the tenants toilets and rehabs to Clint. He'll do it. He'll do it here for you. She's got Clints all over the nation that'll do this for you. So you know she's got access to all kinds of markets, not just the Midwest.
I suggest you listen to her. When you talk to her about what markets she likes, there's a reason she's not just picking it out of a hat. She's using literally thousands of rentals and feedback on them in the different markets and the different providers.
Let her guide you is all I can say. Say that's what I would do, but thank you.
[00:30:39] Speaker B: Well, and you know what a good team. And, and I'll kind of like, since you kind of brought that up with the different teams, I, I've kind of broken it down. What makes a successful investment. And you have to have three parts. You have to have the property, you have to have the process and you have to have the people. And if you don't have those three together, you're not going to be successful. So yeah, you know, somebody can go out and find a property good for you. Like you, anybody can open up Zillow and find a property. Property. But let's talk about the process and the people. If you don't have the right people, meaning yourselves a good property manager and I'm, you know, you get what you pay for. And there's plenty of people out there that are hiring cheap property management companies because they charge them, you know, 4% or 5% to manage their property. Well, guess what, they're not putting in that much effort to manage a good tenant for you. They're not going to put that much care in your property. So you gotta, you gotta, you gotta pay to play. I mean, and I'm, I'm saying you have to pay a lot. You gotta, you know, give somebody their value, you gotta pay for to get something good back. So you gotta have the right people. So good lenders, good rehab team, good property management team. And then the process, you know, the process is not just the closing process, although that's a huge part of it, because we wanna make sure that you're getting inspections done and appraisals done and you're working with title companies. I mean that's the process. But then also so building and scaling, like what, what is your goals? What is your strategies? How do you go from one to 20 properties? That is part of the process. No, nobody wants to just buy one property and fail and be done. We don't want that for you. Right? So, so we've got to have that three part system and that, that's the secret sauce. That's it is, is working with good people a good process and getting in good property.
[00:32:26] Speaker A: I think you said something that's, that I want to elaborate on too. You said you get what you pay for. And you know, Scotty and I, we run one of the largest property management companies, you know, in Indiana or the Midwest. And if there is somebody out there quoting you 4 or 5% for property management, they are not making any money. You do not want to go into business with someone that is not making any money. Bad things happen. And we've seen it here in Indianapolis a bunch where, you know, PM companies pop up overnight and then they run off with their client's money.
They say they rehab houses and they don't. And, you know, you gotta be really careful. And I think, you know, a lot of times people will get in. Even myself, whenever I first got into real estate investment, you know, it's more on the contractor side trying to get discount contractors. You get what you pay for. You know, if it sounds too good to be true, it probably is. That's, you know, a big piece of advice I always give to real estate investors that, you know, you gotta be careful. There's lots of snakes and lots of wolves out there. And you do get what you pay for.
Sometimes the cheapest becomes the most expensive.
[00:33:33] Speaker C: That's. It's also true. And if you want to avoid learning those lessons the hard way again, I suggest you go to themelissanash.com backslash homeboys and fill that out. Start talking with Melissa. There's no pressure with her either. What you see is what you get. As you can tell if you've been listening on this podcast, she's very laid back but very intelligent. She went from baby jeans to building real estate empire buyers and yet has is still as humble as could be. And she's a joy to work with, a huge source of knowledge. Really? Really. We suggest you start with her. And even if you have a portfolio and you're looking to get even more, reach out to her, she's worth it. We love working with her. We know groups across the nation that love working with her and we know a lot of her clients who just adore her. So happy investing with Melissa Nash.
[00:34:29] Speaker A: Thanks, Melissa. We appreciate you.
[00:34:32] Speaker B: You are so welcome. I appreciate you guys. I appreciate your team. I love Jamie. I was just text or messaging with Jamie about some of those properties you were just mentioning. I've got somebody checking them out right now, so I love you guys. You guys are amazing.
[00:34:45] Speaker C: Well, thanks again.
[00:34:46] Speaker A: Well, thanks so much. And that's our show. We appreciate you tuning in to the homeboys podcast. Make sure you check out Melissa Nash, AKA the lady luck CEO. Cue the Frank Sinatra music. Till next time. Happy investing.
