114: Paying Off Debt Through Conscious Spending and Real Estate Investing with Ashley Kehr

BiggerPockets Money Podcast

BiggerPockets

Investing, Education, Business

4.6 • 2.9K Ratings

🗓️ 2 March 2020

⏱️ 80 minutes

🔗️ Recording | iTunes | RSS

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Summary

Ashley Kehr married a dairy farmer. With a dairy farm comes farm equipment. And with farm equipment comes farm equipment loans—to the tune of around $169,000. Three years ago, she read Total Money Makeover by Dave Ramsey, and it CHANGED. HER. LIFE. Ashley knew she needed to get rid of their debt, but her husband wasn’t totally on board with the plan. So she tackled her student loan debt first—and proved to her husband that this was the right financial plan for their family. She quit the job she didn’t like and transitioned into property management, which introduced her to her current love of real estate. Real estate started providing a very generous income stream to help supplement her family’s income. When she didn’t have her own money to invest, she partnered with someone who did. When she didn’t have experience to do the project at hand, she partnered with someone who did. Ashley’s story is a delight to listen to. She walks us step by step through the process she took to find these partners, find these properties, and generate this income stream for her family. If you’re thinking about getting into real estate as a source of passive income, this is a must-listen episode! In This Episode We Cover: Ashley's money journey How Ashley and her husband accumulate both rental properties and debt The moment she purchased her first rental How her rental income helps her to be more conscious about money Ashley and her partner's agreement on their investments 2 rules to analyze markets for rentals What a portfolio loan is and how to use it Ashley's method of recycling her cash to buy more properties What her lifestyle looks like after reading Dave Ramsey's book Debt snowball method How Ashley managed her various properties with various partners And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Real Estate Podcast BiggerPockets Business Podcast BiggerPockets Calculators BiggerPockets Podcast 348: Full-Time Job, Full-Time Mom, and Full-Time Wealth From Rentals with Ashley Kehr BiggerPockets Money Podcast 20: The Simple Path to Wealth—Index Funds Explained with JL Collins BiggerPockets Money Facebook Group BiggerPockets Money Survey Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Bigger Pockets Money Podcast, show number 114, where we interview Ashley
0:05.4	Care, the host of the new Real Estate Rookie podcast, and hear her debt payoff story through
0:10.8	conscious spending and real estate investing.
0:13.7	And I felt a lot more comfortable too as my portfolio has grown because if one property is
0:19.0	bacon I have the other properties cash flow to cover that so it would have to be a significant
0:25.4	amount of vacancies for me to ever have to pull money out of my own pocket to
0:30.4	pay a mortgage.
0:31.6	Hello hello hello my name is Mindy Jensen
0:34.0	and with me as always is my magnificent co-host, Scott Trench.
0:38.0	Scott and I are here to make financial independence less scary,
0:41.0	less just for somebody else, and show you that by following the proven steps,
0:46.1	you can put yourself on the road to early financial freedom and get money out of the way so you can
0:50.9	lead your best life.
0:52.1	Wherever you are in your financial or life journey,
0:55.0	you can begin rapidly moving towards a position capable of generating a great income,
0:59.0	saving a huge percentage of that income,
1:01.0	and setting yourself up to make larger and larger investments on your way to
1:04.0	financial freedom.
1:05.0	Whether you want to retire early and travel the world, go on to make big time investments in assets like
1:09.5	real estate or start your own business will help you build a financial position capable of
1:14.0	launching yourself towards your dreams.
1:19.0	Scott, I am super excited for today's guest because she is the host of the new real estate rookie
	...

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