20: Using Lines of Credit to Kickstart Your Investing Career with Charlie Ashley

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 15 July 2020

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today: how Lexington, KY investor Charlie Ashley uses lines of credit and construction loans to build his portfolio while working full-time. Charlie walks us through his year-long education phase, his first couple deals, and the expensive lessons he learned while renovating a property he lovingly calls "The Pit"! Sure... finding deals is important. But today you'll learn how understanding financing has helped Charlie gain a lot of momentum quickly – and how every new investor can do the same. Thanks for spending time with us every Wednesday. If you like what you hear, let us know with a rating and review in Apple Podcasts... or share this episode with a friend or family member! Links from the Show Real Estate Rookie Facebook Group Felipe's Instagram Ashley's Instagram BiggerPockets Podcast BiggerPockets Podcast 329: Financial Freedom Before 30 Through Just 10 Deals With Felipe Mejia BiggerPockets Podcast 384: Losing $60k on His First 2 Flips so You Won't Have To with Spencer Cornelia Rookie Podcast 17: 3 Rentals in His First Year & the Power of a Real-Life ‘Rich Dad’ Mentor with Derrick Ziglar Jr. Google Sheets Check the full show notes here: http://biggerpockets.com/rookie20 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is real estate rookie show number 20.
0:03.7	Okay, this is a problem.
0:08.8	This is what I'm getting paid to do as an investor.
0:11.5	We don't make those big paychecks because things are easy. We get paid
0:14.7	because it's difficult, we solve problems. So kind of just fixing it, learning how to fix it,
0:19.6	and then move on from there.
0:20.8	I am Ashley Care and I am here with my co-host Felipe Mejia, was feeling a little
0:29.4	bit left out today because he is the only one without Ashley in their name.
0:34.0	That's hilarious.
0:35.0	So our guest today, Charlie Ashley, he's awesome and he talks about a property that he
0:40.5	calls the pit. You can only imagine why, right?
0:43.4	Ashley, he talks about how much money and how many mistakes he made with this property
0:47.9	and still came out on top on the other side of it.
0:51.5	Yeah, he mentions that his main priority when he purchased his house was just getting a foundation
0:56.6	in and getting the house onto the foundation.
1:00.3	It's crazy because he talks about when he did the walkthrough that he like touched the wall and that it started like wobbling like paper. I'm like man that must that must have been a crazy a crazy scene.
1:10.8	Yeah today's episode is great to listen to if you are using the
1:15.1	birth strategy want to use it or you're just doing any kind of rehab. He is
1:20.0	completely honest with us and talks about the mistakes he made during this pit rehab but
1:25.6	yet here he is he's still going on and he's looking for his next deal.
1:29.6	Yeah one of the things that he talked about as well was you know finding his MVP and
1:34.0	how he doesn't know what kind of value ad he did to him but he was just a genuine
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.