Real Estate Rookie

How to Use “Asset Management” to Build Wealth (Even with a Small Portfolio!) w/Ashley Wilson

Aug 12, 2024

Ashley Wilson, a seasoned investor and author in real estate, shares invaluable insights into asset management, emphasizing that you don't need a large portfolio to build wealth. She discusses crucial skills for effective management and the key differences between asset and property management. Listeners will learn how to evaluate multifamily properties and implement winning value-add strategies. Ashley also highlights practical steps new investors can take to enhance their portfolio performance, regardless of size.

46:37

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Episode guests

Ashley Wilson

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Episode notes

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Quick takeaways

Asset management is a critical skill for building wealth in real estate, focusing on maximizing returns rather than merely managing property maintenance.

New investors can enhance their asset management effectiveness by developing adaptability, resourcefulness, and strong communication skills while staying informed on market trends.

Deep dives

Understanding Asset Management

Asset management involves overseeing a real estate investment as a whole, distinguishing it from property management, which focuses on tenant needs and property upkeep. The asset manager is responsible for implementing the business strategy, addressing investors' inquiries, and adjusting strategies based on market conditions. By managing the investment from a macro perspective, an asset manager ensures that all team members, including property managers and contractors, are aligned to achieve the best financial results. This holistic view allows asset managers to focus on maximizing returns and long-term value rather than just day-to-day property management tasks.

Intro

4min

Navigating Variable Interest Rates and Rate Caps

3min

The Dynamics of Property and Asset Management

8min

Navigating Asset Management: From Small to Multifamily Properties

8min

Streamlining Real Estate Operations

5min

Mastering Multifamily Property Evaluation

18min

Building Wealth Through Strategic Asset Management

2min

You DON’T need to scale your real estate portfolio to start building wealth. Whether you own a single rental property or one hundred doors, the size of your portfolio isn’t as crucial as your ability to manage it. Today’s guest is bringing you a masterclass on a fundamental skill that new investors often overlook—one that will help you get the most out of your portfolio and maximize your profits!

Welcome back to the Real Estate Rookie podcast! Ashley “BadAsh” Wilson is a big-time investor and long-time friend of the show who has perfected the art of asset management, having managed over 1,500 units to date! In this episode, she’s going to show you why this skill matters, how it differs from property management, and how to use it to gain a competitive advantage in your investing journey—even if you don’t have a large portfolio or have only just landed your first deal!

New investors must wear many hats, but Ashley shares three things ALL rookies can do to better manage their portfolios without outsourcing. She also walks you through the process of evaluating a multifamily property and even shows you how to execute a value-add strategy that brings bigger and faster returns!

In This Episode We Cover:

Asset management explained and why it’s the differentiator for building wealth

Skills you MUST cultivate to effectively manage your real estate portfolio

Three things ALL rookies can do to become better asset managers

How to evaluate a multifamily investment property (step by step)

Key differences between asset management and property management

How to create and execute a value-add strategy for any property

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPokckets Profile

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