277: Building a Six-Figure Family Real Estate Business with Ashley Wilson

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 3 May 2018

⏱️ 75 minutes

🔗️ Recording | iTunes | RSS

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Summary

Many families can’t even enjoy a holiday meal together — but today’s guest has built a real estate empire with hers! Today we sit down with Ashley Wilson, a house flipper who got started investing in real estate while living overseas in Europe. Today, Ashley shares how she has been able to generate six-figures in profit — almost from the beginning — using a highly systematic approach to building wealth. She also drops some huge knowledge bombs with advice on finding and funding deals — and even some never-before-heard advice on knowing what features to put into your next rehab! In This Episode We Cover: How Ashley and her family got involved in real estate House hacking their way in the beginning The dynamics of the family business Ashley’s specialty How they split the profit What it’s like working with a family Finding what is “light work” for you Long-distance investing and the core people on your team How she finds deals Close-to-close houses through “stacking” How she designs homes How they finance their deals Her plans for the future And SO much more! Links from the Show BiggerPockets Forums BiggerPockets Webinar BiggerPockets Calculators Brandon’s Instagram Profile BiggerPockets Podcast 119: From Pro Athlete to Pro Real Estate Entrepreneur with Graham Mink BiggerPockets Youtube Channel Books Mentioned in this Show Rich Dad Poor Dad by Robert Kiyosaki Drive by Daniel Pink E-Myth by Michael Gerber Long Distance Real Estate Investing by David Greene Freakonomics by Steven Levitt & Stephen Dubner Fire Round Questions What are the best ways you’ve found to estimate rehab costs? The rehab calculator on BP is fine but, how do you estimate the $$$ to put into each category? Should I buy a Home Warranty for my flip or not? Should I hire an inspector or just go with an experienced project manager/contractor on a walkthrough? Buyer coming back after months demand for repair cost Tweetable Topics: “Every house already has a limited market.” (Tweet This!) “You really have to love what you do.” (Tweet This!) Connect with Ashley Ashley’s BiggerPockets Profile Ashley’s Company Website Facebook Page Instagram Page Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast Show 177.
0:06.3	I actually always say that when you increase complexity
0:10.1	and decrease frequency, you increase errors. So what we're trying to do is that when any
0:16.5	task is complex the same person should be doing that because they become a master and that
0:21.7	minimizes errors and vice versa. So we're
0:24.7	trying to decrease errors every which way we can.
0:27.8	You're listening to bigger pockets radio, simplifying real estate for
0:32.3	investors large and small. If you're here looking to learn
0:35.8	about real estate investing without all the height, you're in the right place. Stay tuned
0:41.2	and be sure to join the millions of others who have benefited from bigger pockets.com.
0:46.0	Your home for real estate investing online.
0:49.0	What is going on everyone? This is your host of the day Brandon Turner coming at you here with my
0:54.3	co-host mr David green how you doing d.g. oh boy Brandon it's how am I doing right
1:01.8	now oh boy this doesn't sound good.
1:04.0	Yeah, it's been a challenging week so far.
1:06.0	We have about five houses in my real estate agent business that we had in escrow
1:11.0	and all of them might be falling apart.
1:12.0	There's kind of a domino system where you have a list. we had an escrow and all of them might be falling apart.
1:12.6	There's kind of a domino system where you have a listing and then if you lose the buyer
1:16.6	for your listing then you lose the house that your seller was going to go buy.
1:20.6	And we have that happening on a couple different fronts and it's been very
1:22.9	frustrating but the silver lining is that I'm realizing this does not happen in real
	...

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