00;00;00;00 - 00;00;21;02UnknownWhat did you specifically get that helped you to kind of break that ceiling of like where you're at, thinking with your mind and, taking your business to the next level? I think it's mindset and raising capital and learning different ways to finance things has changed us and for the better and quicker. You know, traditionally we were doing traditional loans, things that were slow.00;00;21;02 - 00;00;34;19UnknownI couldn't make cash offers unless I'm using our own money. Those things have changed and we have acquired a lot more because we can move faster.00;00;34;22 - 00;00;58;04UnknownWelcome back to the seven Figure Flooding podcast. I'm your host, Adam Whitney, and I've got some really amazing guests today from our seven figure runway community. Some folks I've just really, really, really enjoyed watching, watching them grow in their business. I've got Morgan and Caleb Pepper today from Indiana. Guys, welcome to the show. Thanks for having us.00;00;58;06 - 00;01;14;12UnknownWe're excited to be here. Hello. Awesome. Cool. Thank you. Hey, well, first off, I'm glad you're excited to be here. I know this for some people. You know that they're not on podcasts all the time. This can feel like, you know. Well, I want, I don't know, am I going to say something wrong? But you guys are great.00;01;14;12 - 00;01;32;01UnknownAnd, I've been so fortunate to just kind of get to see you guys in your business over the past year. But I would love for you to tell our listeners kind of your background and your backstory, how you got into real estate and, you know, kind of everything leading up to to you finding us here at some figure flipping.00;01;32;04 - 00;01;51;00UnknownOkay. Well, to be honest, the beginning, we started about four and a half years ago. Morgan, my husband, pushed me for quite a while before we actually took the leap. He was the one that just came home one day and was like, we need to do this. And we started looking. I had no idea what we were doing.00;01;51;03 - 00;02;14;00UnknownThe first house we ever bought was a five plex. When I, when, went and did that and then, we kind of this, like, learned as we inherited tenants, we did all kinds of things, did not, did not know what we were doing, but liked it learning a lot. And then from there it kind of just every year we were like, well, buy one property.00;02;14;02 - 00;02;37;25UnknownThat's what we felt safe doing. To the point where it's like, this is nice, but this is it at our pace that we're wanting or needing out of this. Correct. So it's it's been to the point where, up until we joined seven S, we were very stuck. We were very we didn't know what to do. Again, Morgan has pushed to join something to learn for a long time.00;02;37;27 - 00;03;02;24UnknownSo I finally jumped on board and, was introduced to 750 some friends. And, you know, it's been very nice ever since. We've learned a lot. Yeah, that's that's, that's that's just it's a really kind of typical, like, oh, we know real estate's like a thing we should do to help us grow, build wealth. Like, we kind of just know that that's a thing.00;03;02;24 - 00;03;23;08UnknownBut a lot of us stumble into it. We get a rental or two, and then we're like, okay, cool. How do we do a whole bunch of this and go faster? And not that, I think, is where a lot of people actually get stuck and figuring out how to, you know, create a lifestyle and a business around this whole real estate thing to create impact and legacy.00;03;23;08 - 00;03;45;09UnknownAnd I've watched you guys do it in a meaningful way. The cool thing is, is you guys are in Indiana and I like that. And, and Morgan has, you didn't say this, but Morgan has. He has skills. Construction skills. And I like that you guys are in Indiana because you can turn anything into a flip or a rental there, and it works.00;03;45;09 - 00;04;16;27UnknownSo you have a lot of, like, risk reduction because of that. Can you talk about what you guys are doing? What do you guys what's your goals for rentals? What are you doing for rentals and what are you doing like for flips? How do you guys think about that in your business today? Sure. So when we got started, as Kayla was talking, I was kind of pushing for rentals because we wanted, stability and long term wealth and, less of a job and more of, a passive income in the future.00;04;16;29 - 00;04;51;22UnknownSo as we've, as we've kind of refined that we got our first place, really made sense because it was just multifamily, which just makes sense. And, and we had to kind of figure it out as we went, as the numbers are different with multifamily and single family. So we're looking to acquire, and, flip seven properties in the next, year from, July, actually.00;04;51;24 - 00;05;23;20UnknownSo if we can take on seven new properties, three in the first round, of a buffer period to take, for intake and then, and then another for, for the last round of flats, to try to help kind of steady us in between and, keep us rolling, for acquisitions and everything. And in between there, I would like to take on, a minimum of, well, really five rentals in total.00;05;23;20 - 00;05;46;29UnknownBut, I would my minimum would be about three. So we've we've actually acquired two in the last, in the last six months, we, we were quite to, since joining seven value flipping and we were able to acquire those with, a flip that we're going to be working on. So, that actually worked out very well.00;05;46;29 - 00;06;09;18UnknownSo those will actually be, 100% equity. They'll be cash one. Really. Well, once we flip the house that came with it, as we move forward, we're looking to do more flips so that we can, obtain more rentals and, just, all the things that were originally our plan, with rentals for, long term.00;06;09;18 - 00;06;30;04UnknownWell, that's awesome. You guys have a great plan. You're in a great market for that. You said how many houses? Well, first off, can you just say how long you've been in some figure flipping and how many properties you purchase? We've been in here forever. Yeah, we've been here since about mid-July, and we have bought six properties since.00;06;30;04 - 00;06;50;19UnknownWe have been in seven FS. Wow. Yeah. So you guys are you guys are not going slow. We're learning a lot along the way. Yeah. That's what I want to kind of talk about next. Like I feel like is something you saw or something you learned. Kind of broke a glass ceiling for you that you might have thought was holding you back.00;06;50;19 - 00;07;10;26UnknownAnd you guys seem to have exploded. And I'm sure it's a little messy and I'm sure that it feels uncomfortable, but like, what did you get in here that you saw? Was it the other people doing things that how belief was it a system? Was it raising capital? A?00;07;10;28 - 00;07;28;18UnknownSo that was like really eye opening to both of us and like realizing, looking back like how many properties we missed because we didn't know these things. We didn't understand them, we didn't understand the process. And not only that, like the people in the community as having us has helped us like walk through the process as they started like so.00;07;28;18 - 00;07;48;00UnknownSo what do we do next? You know, and it's helped. And now we're we're good to go. Like it's like, all right, let's keep doing it. Yeah I love it. And you guys have you guys already have. Well you have two things that are, really helpful for you that you came in with. Like there's no credit to seven if it's just something some magical happens when you get in the room.00;07;48;00 - 00;08;10;29UnknownBut you guys already had skills like you already knew, like Morgan knows construction. You knew the market like you guys knew generally about real estate specifically in your market. So it wasn't like you necessarily needed that or the analysis of the properties. You kind of you maybe relearn some analysis as you started to figure out, oh, I gotta get I can get this money and it cost as much.00;08;10;29 - 00;08;25;14UnknownI got to kind of calculate that end to make sure my profits good. But, you guys came in with skill, so I, you know, a lot of the credit is on you guys, but I agree with you. Something magical happened for me when I came in here. And, of course, it was a skill upgrade for me.00;08;25;14 - 00;08;51;12UnknownI learned a lot of new skills personally, but then also just seeing other people do something that I didn't even think was in my reach, like helped me to go. I'm thinking a little bit too small or like, wow, I can do that too. And I think for me that was like most encouraging. I'm not sure if, if it was like, you know, use that mindset, but I felt like just seeing other people, like, change my belief system.00;08;51;14 - 00;09;12;19UnknownHow do you go? What do you have to say to that? I feel like I've always kind of had the mindset that, we could do these big things. But for me, the, the playbook is, is the big drawback. Like she said, we we've done everything and just such a slow just, you know, these are the things that we know work.00;09;12;22 - 00;09;31;00UnknownBut, they're just not going to get us to the, to the next level in the in the time that we want to. So, yeah, watching all the, all the other people do, they've helped us, you know, learn learn that that new that next step, like, oh, we just got to do this. You know, it seems daunting.00;09;31;00 - 00;09;51;20UnknownAnd, it's been very helpful. Yeah. And then you you do it, and now you have it, you refine it, you have it is your own system and process. You create new beliefs which create new actions which allow you to grow. I think it's so cool. You guys have been probably the just my favorite to watch because, you guys also, and I want to know where this comes from.00;09;51;25 - 00;10;22;16UnknownBy the way, Kayla, if it makes you feel, any better, I, I was watching Flip Hacking live in 2020, and, you know, Bell gave the invitation to join runway at that time, and, like, wow, $15,000. Like, that's a lot of money. I feel like I need that really badly, but I'm, like, scared to spend it. So I go to my wife, who, not involved in the business, and she's like, wait a minute, what you're going to spend do what I was like, trust me, it's going to be great.00;10;22;16 - 00;10;43;10UnknownI'll figure it out and it'll be I'll get five times the return. I'm positive. I just don't know when and how it'll come, but I'm confident it will come. And then she. She believed in me, and she supported me reluctantly. And we jumped in, and, it changed my life. And I know, Kelly, you're probably thinking, like what?00;10;43;10 - 00;11;13;17UnknownThis is crazy. Yeah, and obviously Morgan's pushing to to grow, so. Yeah. Yeah. Well, now we were. You were skeptical then. How do you feel about it now? We love it. And it's helped us. There's no way essentially, that we would be where we're at without seven FS. Like there's absolutely no way. I mean, we probably would have bought our normal couple houses this year and done the same thing, which is wonderful, but not what we want and have goals towards us.00;11;13;20 - 00;11;27;12UnknownIt's it's totally worth the investment and learning. And not only that, the people have been great. I very much so enjoy the events and getting to meet people in person and things like that. Yeah we do, we do. Life together is what I like to tell people and they're like, you do what you're in. What kind of group?00;11;27;12 - 00;11;50;09UnknownI'm like, that's just a bunch of friends that I pay for, and we do life together. It's cool. And they think I'm crazy too, so don't worry about it. People think we're crazy. That's all right, I agree. That's cool. Kayla, thank you so much for sharing, by the way. I was like, I wasn't I was my goal is not to be in the same 705 is awesome, but I'm just I watch this happen so often where people are like, what is this thing?00;11;50;09 - 00;12;12;04UnknownThey get into it and it's just like getting around the people and then getting the few systems and and processes and or money raising skills, like one skill you're missing or one system you're missing. And then I just watch their businesses grow. Boom to the moon, over and over and over and over again. I mean, you guys know Stephanie said it was the same thing.00;12;12;07 - 00;12;38;02UnknownThey come in, they go, Holy cow, these systems are exactly what we're looking for. They put them in place and you guys watch their business. Just explode. And then they still are doing it. Like they have an insatiable desire to learn. And then the other thing that I want to compliment you guys on is, it's one thing to come in here or in any place and get the playbook, get the information, get the system, get the process.00;12;38;02 - 00;12;55;10UnknownBecause lots of people can do that. But it's another thing to put it into action and to do it in a, in a, in a fast like like you see you go okay, this is what I need. Got it. Cool in action. Like I remember you guys had joined and I was probably on a call with Morgan within like the first two weeks.00;12;55;10 - 00;13;15;23UnknownAnd we're talking like, how do we structure this private money? Like, oh, I, I started doing the thing you said, now people want to give me money. Okay, what do I do? How do I put the paperwork together? How do I structure? I'm like, Holy crap, these guys are moving fast. I love it, and I just knew, oh, my God, this is going to these guys are going to be so great because they're going to take the things that people have already blazed a path for, and they're going to implement it.00;13;15;24 - 00;13;37;26UnknownWhat is it that about you guys that made you such fast? Implementers? Allow me to. Before you answer, let me tell you for me, I spent a whole bunch of money and I was trying to get my money's worth. If I'm being completely honest, that's definitely one factor. Yeah. For sure. So what? What makes you guys such good implementers?00;13;38;01 - 00;13;56;15UnknownI feel like it's just like, as soon as we learn it, it clicked. It's like, why didn't we know that before? Let's do it like that. Makes sense. And seeing other people doing it like, it's like it works, you know, I've seen it. Let's do it. Let's try it. We're very much, once we feel comfortable something, we're going to do it and implement it very quickly because it's not like that was the whole point of joining.00;13;56;15 - 00;14;18;05UnknownThis is learning and scaling our business as quickly as possible and not doing big, very uncomfortable. We're both very uncomfortable and aren't like learning and, you know, doing things that are way out of some ordinary that we would normally do. But yes, like coming on this podcast, maybe it's a little uncomfortable too. And I'm grateful for you guys for doing that.00;14;18;08 - 00;14;42;13UnknownHey, and this one's kind of, for Morgan, too, because, we see this a lot when people come into, you know, our world, like you, we think we're teaching real estate. We're not really teaching real estate here. We're teaching, development as a leader in business, and we're teaching business. Real estate just happens to be our widget, and we all love it.00;14;42;13 - 00;15;07;24UnknownAnd it's also a very powerful wealth building widget. And here's the thing that I see people struggle with who come in there with construction skills because like, you know, I think of our friend Tom and some others who are like, I'm just going to do all the work and save money. And I don't know, Morgan, if you've kind of hit this yet, because I do know you are really, hands on guy.00;15;07;24 - 00;15;29;23UnknownYou're very good at your craft. You can do a lot of things. But it does. It does hold some people back because instead of being able to do, you might save a little bit on one house, but in reality, if you had crews, you could have 3 or 4 houses going at a time. And now you're just managing it and seeing it because you have the skill to do that.00;15;29;25 - 00;15;49;26UnknownWhere do you how do you feel about that with where you're at right now, knowing that you have all this construction skills? I think you're exactly correct. As somebody asked me when we first joined, and, I didn't mean it in a, in a a downward like a bad as a as a bad thing. But they said, oh, I think I'm going to teach.00;15;49;28 - 00;16;14;02UnknownI have my son. And then they're going to learn some of the things to do the things like, don't teach him anything. You have to figure out how to get other people to do it. And he won't. He won't ever know it. So it'll never be an option. Like, I, I agree completely. You know, we've definitely moved into that, and, I'm doing less of the work that is, that's for sure.00;16;14;02 - 00;16;35;21UnknownThe, the route that I think is, it's necessary for growth. Yeah. Not. That's great. Thanks for sharing. And look. Hey, you guys. And, Morgan, I told you this. I have zero skills. Barely changed light bulbs. My wife literally has hired a handyman at her house because I'm so worthless when it comes to, construction or things like that.00;16;35;21 - 00;16;53;07UnknownBut the benefit to me was because I was never capable. There was no world where I looked at a problem, a construction problem set in a property and said, oh, I could do that cheaper and faster. When I look at that, I'd say, oh, that'll probably take me four months to complete and it'll take this guy three days.00;16;53;09 - 00;17;16;29UnknownSo, I don't know, maybe it's a detriment to my, my husband's ego over here, but for business, it's been a real benefit to me because I had to learn how to lead and manage people, particularly contractors and general contractors and construction folks who maybe don't have business savvy or don't understand the urgency of time because they're not the ones spending the money.00;17;16;29 - 00;17;36;08UnknownSo you've you have to develop those people skills to move things along and get them done right, especially. And imagine if at Morgan, imagine if you go to housing and you don't know anything about construction, you're like, I think these guys are doing a good job, I hope. So yeah, it can be a challenge. It can be a challenge not knowing anything, but it's definitely a benefit from a business perspective.00;17;36;08 - 00;17;59;04UnknownSo I really do appreciate your perspective. Yeah. Don't teach your son that. If you teach him that. I hope we get stuck doing it for a long time now. The skill is good to have. Of course. But the habit of just doing everything yourself can become detrimental to your growth. Yeah, that's where we're at in our this move in for women that forward and dealing with him doing less and managing.00;17;59;04 - 00;18;19;12UnknownAnd we're in the middle of that. That's part of our growth right now. Yes. And I'm sure it's uncomfortable. We talked a little bit earlier in this. You guys you guys saw such because you acquired quite a few properties, which is more than you normally would have. So you're you're experiencing new throughput type issues. You're experiencing new.00;18;19;15 - 00;18;37;11UnknownWow. I have four of these going on like I now I got to really project, manage this thing and make sure timelines are tight and budgets are tight and, you know, a lot of stuff going there now I will people don't know this. You guys are in Indiana. I, I get a kick when I talk to you guys about your underwriting and your purchase prices.00;18;37;11 - 00;18;57;11UnknownYou're like, I'm buying for 20,000. I'm going to put 24,000 into it will be on for 48. It's going to be a great property. And, you can't even get a kitchen for 48 grand in kitchen, Florida. So you guys are doing all right up there in India? Yeah. Much cheaper cost of living, for sure. Yeah. Smart.00;18;57;11 - 00;19;16;10UnknownIt's smart. It's very smart. And you guys can get rentals that make a way more sense than anybody down here in the South. So, guys, I'm so grateful that you even just spent a little bit of time with me today on the podcast. You guys are amazing. Amazing, stewards of the community. I love having you guys in the community.00;19;16;10 - 00;19;36;29UnknownYou can get them on Facebook and social media if you have a wholesale deal in Indiana, you want to you want to get over to. These guys are real buyers. If you have private capital sitting on the sideline, lazy money, you want to get it into what I would consider pretty low risk. Environment. Reach out to Morgan and Kayla.00;19;36;29 - 00;19;56;04UnknownI'm so grateful you guys came on the show today. Everybody, if you like this episode and you see this kind of growth in yourself, always just feel free to send us a message. We'd love to see if you're a good fit for our community. See if you see if we can help your business in any way. And here's the cool part is it's always no pressure for us.00;19;56;04 - 00;20;20;20UnknownBut if you do reach out to us, we have a rule that we leave things better than we got them. So we will moat we will, at a very minimum, give you a really, really elite resource that will help you in your business, even if it's at no cost free. Something free, if that's what you need. If you're not a good fit for being in our community yet, it's really awesome.00;20;20;20 - 00;20;42;20UnknownI'm excited, about our community. So if you think it's a place you would want to be and Morgan and Kayla's story resonate with you, please just reach out to us and, appreciate you guys listening. Don't forget to like and subscribe. This. This is how we grow. If it would be so helpful if you did that, you know, if you if you like what you're listening to, leave us a review and only takes a two minutes.00;20;42;20 - 00;20;53;08UnknownAnd it's super helpful for us. So appreciate you guys and I'll see you on the next show.
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