Knowledgeable and passionate about all things real estate and with a keen eye for detail, Ashley Wilson, Founder of Bad Ash Investments, joins us on the show today to discuss topics ranging from construction management to COVID-19 to capital reserves. Before Ashley became a real estate investor over 10 years ago, she was involved in vaccine development. Her knowledge of pandemics meant that in the very early days of COVID-19, she had the foresight to take actions which helped keep her business afloat. Ashley stresses the importance of always having cash reserves and being attuned to what is going on in the real estate market because of the fast-changing nature of the sector. She also shares with us what's most important when it comes to managing projects, how COVID-19 has changed housing preferences, the processes that she makes use of to make sure her projects are going according to plan, along with experiences she has had when the opposite has happened. This episode is packed full of important insights, so be sure not to miss it!
Key Points From This Episode:
- Ashley’s three top tips to remember when getting involved in a rehab project.
- Why it’s important to have someone on your team who has construction knowledge.
- How the COVID-19 pandemic has changed people’s housing preferences.
- The importance of being attuned to the market because things are changing all the time.
- Trust and leveraging technology are must-haves when it comes to construction projects.
- Processes Ashley utilizes to hold the companies that she works with accountable.
- The two main components of construction: Labor and materials.
- How Ashley’s vaccine development knowledge helped her prepare her real-estate business for the COVID-19 pandemic.
- Why companies should always have capital reserves.
- Ashley shares some personal experiences of what can go wrong in her line of work.
“Time is money in multifamily and taking an interior renovation and going a week versus a two-week renovation period can be a dramatic change to your cash flow.” — Ashley Wilson [0:02:31]
“Your boots on the ground are going to be your make or break in terms of your success on being able to execute a project.” — Ashley Wilson [0:03:04]
“No matter what reason it is, whether it’s COVID or anything else in the future, maybe a natural disaster, etcetera, you should always have reserves.” — Ashley Wilson [0:10:04]
Links Mentioned in Today’s Episode: