Rental Investor Starter Kit

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Show Description

Today our guest is the amazing Ashley Kehr, the host of BiggerPockets Real Estate Rookie Podcast. She’s also making a killing in New York State as an investor. In this episode, Ashley shares her investment tactics, the best deals she’s done, and how she shifted her mindset so she can build a team and scale up.

We also discuss episode 33 of the Rookie Podcast where Mynd Property Management and Ashley come together to mentor a new investor Joe Roberts. The episode is a step-by-step guide to finding the deals, securing funding, building a team, and multiplying knowledge for generational wealth.

What We Cover

00:00 - How the BiggerPockets Rookie Podcast helps new investors.
06:04 - Ashley’s beginnings and how she followed the recipe of success.
10:04 - Ashley’s best deal and why it worked on several levels.
14:32 - How and why would you consider remote investing.
17:13 - Why it’s important to build a team as a real estate investor.
24:00 - How to avoid self-sabotage and common challenges in investing.
28:41 - The best new opportunities for investing in New York State.
33:55 - Get in touch with Ashley and learn more about what Mynd does.

Watch the Podcast

Read the Transcript

Steve Rozenberg  01:38
All right, ladies and gentlemen, I believe we are live on Facebook, or as my business partner used to say the Facebook. We're going to let us that too. For a while I have said that I have said that actually, by mistake. But when I kind of actually said it halfway through. And then I realized that I was saying it and I had to stop. And I felt dumb. So I just kind of continued the sentence. So I have said that. Alright,we'll give everyone a couple of minutes to kind of jump on the Facebook Live Stream as we're chatting. And we will then go ahead and get started with our show with the amazing Ashley. Well, are you ready?

Ashley Kehr  02:25
Yes, that's good. All right,

Steve Rozenberg  02:27
There we go. Ladies and gentlemen, welcome to another episode of The Myndful Investor Podcast Show. I'm the host, Steve Rozenberg. And the reason for this show is to obviously bring on investors that basically change the mindset of all the people out there and make you kind of stop and think and realize that investing comes in all shapes and sizes all over the country, all over the world. And when you think about being an investor, it's actually a pretty small group of people that we are in, there's really not many people out there that do what we do. I was on a podcast show or some meetup the other day, and I was talking about that. And he was explaining to me how he had so many people in his group. And when you think about the billions of people that live and all need a roof over their head, and the fact that there's not that many investors that actually own all of these properties, it kind of puts into perspective of what how small this group actually is. So even if we're a million, a couple million people strong, it's really not that big when you put it into perspective of how many rooms are out there that somebody owns those rooms, for people to rent, and there's so many different ways that you can make money in real estate. So today, I have a very special guest, my very good friend, Ashley Kehr's on and Ashley is the host of the BiggerPockets, real estate rookie podcast show on Facebook. And she's got Spotify and everywhere else that I think people can hear her amazing voice. But today we're going to talk about what she's doing. Her background you may have remember, I was on her show, with Joe Roberts, who was the dream investor, Dream investment adventure winner, where Mynd donated $20,000 to help Joe and I coach Joe through the series. So if you haven't seen that series, I definitely recommend you go back and watch that because I coach Joe, from the beginning, all the way through to him actually finding a property all in another state that he's never been to never invested in. And he never actually leaves his house in North Carolina. So it's a great episode. Ashley was the host of the show. So she was interviewing me and Joe. And it really was a great episode for you to watch and learn how it can be done. So actually, first of all, thanks for being on the show. I appreciate it.

Ashley Kehr  02:28
Thanks for having me. I got to give a little plug first. So you guys want to listen to their Bigger Pockets rookie episode? It's episode number 33. And go to BiggerPockets.com/rookie33.

Steve Rozenberg  05:10
Yeah, and Bigger Pockets does a great job of helping investors and the show that she does really, it definitely makes a difference for investors. So it's a great show that along with, you know what we're doing at Mynd, helping people, it's really a great combination. You know, I wish that when I first started out that these things existed for me, because they didn't exist. I hate to say it, YouTube didn't exist, just to give you a date timestamp of myself, but it just shows that how we've evolved as an industry and how there's so much great information to really learn what successful people are doing. And, you know, success leaves trails, so you don't have to figure out your own way. Now you can just follow someone else's successful path. And and you can walk along that journey with them to success. So actually tell everyone just kind of a little bit about yourself, where you're from, where you're investing and kind of what you're doing today.

Ashley Kehr  06:04
Yeah, so I invest outside of Buffalo, New York, in the rural areas. I'm the host of the Bigger Pockets, real estate rookie podcast, and I just recently opened a liquor store. It's my first retail business, I have completed burs, just buy and hold rental properties. I've sold a couple of my rentals, did seller financing, but I haven't done any flips or anything like that. So pretty much just strictly buy and hold as of right now.

Steve Rozenberg  06:33
So actually, what is the first property that you invested in that got you like the investing bug? Like what what was that first deal? And kind of? Can you explain it a little bit?

Ashley Kehr  06:44
Yeah, so actually, it wasn't even my first deal, it is that I worked for an investor. And he involved me with the whole process of all of his acquisitions, his property management, and I basically ran all that for him, I did his financing. And really, the big point for me was when he went to buy an auto dealership, and with that auto dealership, he was pulling equity out of his rental properties to purchase in cash, this auto dealership, and to me, that was just amazing how he didn't have, you know, this amount of money in a bank account, but he was able to go and pull that out of his other assets, and use that to buy another business. So that was really the eye opening experience for me as to what real estate investing can do for you, can just provide you a lot more opportunities.

Steve Rozenberg  07:34
That's interesting. So you know, within, you know, a lot of people get into real estate, because they want to get away from, you know, maybe what they don't want, they don't want to have a job, or they  need the money or they want they don't have a retirement by was being an airline pilot, and I wanted some safe secure, you know, for the horizon type years. But you essentially, because you saw this as an opportunity that you saw somebody basically pull out of nowhere by using the equity to go and buy more assets. And so you and I know you're a numbers person, so you kind of saw this from that perspective, is that that right?

Ashley Kehr  08:11
Yeah, that's correct. And like I helped him analyze if this purchase was a good deal on all of his acquisitions, I did that. So that really helped me learn how to run numbers. And then like at the closing table, I was the one that wrote out these huge checks, like he let me actually sign my name on these checks. And to me back then I was like, Oh, my God, I was like shaking. And that really like added to the experience as to how much he involved me, and to show me what I could do with all this stuff. And for me, it wasn't I didn't really have any plans then as to Oh, I need this amount of cash flow a month to retire. To me it was like I'm doing this every day anyways. So why not do it for myself, too. So that was kind of how my mindset was, at first I was like, I'm doing property management day to day, I'm doing acquisitions. I know how to do that. I'm doing financing. I know how to do that. Why not do it for myself?

Steve Rozenberg  09:07
Interesting. So you kind of saw the results of it with someone else. It wasn't like, you know, a lot of people they get into real estate, you know, sometimes because they lived in a house and they couldn't sell it. But now they're you know, an involuntary landlord. But you kind of saw the results of the checks being cut that you actually wrote. That's an interesting perspective, especially, you know, a lot of people get so emotionally attached to the deal. It doesn't seem like you probably didn't have that challenge, because to you is all numbers and you saw the end result of what you could get if you try to follow the recipe.

Ashley Kehr  09:40
I mean, there are definitely properties. I got it. For sure.

Steve Rozenberg  09:44
Yeah, no, I'm just saying in the beginning, just the concept of getting into it. Well, you know, just the whole thought of, why am I doing this? Well, let's talk about this. So, I know you've done a lot of deals, what would you say is your best buy and hold you've done and kind of can you explain why you consider it your best?

Ashley Kehr  10:04
So this is a four unit building to commercial and the downstairs to residential and the upstairs, I bought a small portfolio from this guy who was a older investor just needed to get out, he didn't really care for the properties over the years. So they kind of needed a lot of work. And at the time, I could only purchase I think I did seven of the properties. And there was this commercial unit and another duplex and a plot of land that I did not purchase. He wanted at that time 90,000. And it's a really small town, there was other vacant properties on the main street, and I just didn't know who would actually even want to rent it out the commercial units. So a year and a half later, he approached me and said he would sell me the four unit and the duplex for 60,000. So in a year and a half, he dropped the price by 30 grand. Well, I negotiated him down to 40,000 for the duplex and the four unit building. And there was one tenant at the time living in the four unit building and not upstairs. So what I did was I wholesaled, the duplex that needed quite a bit of work too, so I wholesale that for 20,000. So I get this four unit building for $20,000. And I spent all last winter rehabbing three of the four units, the tenant that lived there, we updated her plumbing and a couple things. But she wanted to stay and didn't want her rent raise. So we didn't really do any cosmetic updates in there. We completely rehabbed the other three units, and we put about 70,000 into it. And so we were 90,000 all in and we just refinanced it and we're able to pull out 100,000 with a private lender at four and a half percent interest amortized over 30 years. So it was a great deal anyways, but the fact that we were able to get that financing on it to made it even a sweeter deal.

Steve Rozenberg  12:00
Yeah, no, that's great. And so what what kind of numbers are you getting on the deal now with the money pulled out leveraged against it?

Ashley Kehr  12:09
So right now we're collecting $20700 a month in rent, and our monthly payment is, we haven't had to pay it yet. Our first payment isn't due until December 1, but I think it's around like 500 $600 a month.

Steve Rozenberg  12:23
Wow, that's great. That's a great deal. And so, and I think what, what people need to realize from this, to me, the biggest lesson is that you kind of found a deal by subdividing this deal out and parting it out. So you know, some people may look at a deal to I don't want that piece, well, you could always take that piece and do something else with it. You don't need to, you know, go and do what you're doing, like and look at the deal and say like, I need this deal, and this doesn't fit. So I'm not doing it. I like the fact that you saw that kind of like, how could I make this work? And you know, you go that path? So what do you what kind of deals are you looking for now you're looking for cash flow deals, appreciation, like what what's in your market that you're looking for?

Ashley Kehr  13:08
Well, I recently just closed on a single family home that had a like a barn garage, behind the house. And so that can be rented out separately. And then it also has a one bedroom apartment attached to it. So what I'm looking for right now, our value add. So like that apartment wasn't being used at all, it completely needs to be gutted and rehabbed. But I want something that could be sold for, I could easily sell it. Like it's a very nice single family home that didn't need any work. So if I wanted to, I could flip it, or it would be great for a house hacker if I was just going to sell it. And then the numbers also work for rental income. So I'm looking at things that kind of work for both of those. But I'm also looking at out of state too.

Steve Rozenberg  14:01
Okay, so just so people understand real quick, can you give people the definition of house hacker because I don't know that everybody knows that, that you and I know, but maybe the listeners don't?

Ashley Kehr  14:11
Yeah, so house hacking is when you purchase a property to be your primary residence and then you're either renting out the other units or you're renting out other rooms and collecting rental income that is paying all, part, or more than what your actual mortgages. So basically, you're trying to live for free and having other people pay your living expenses.

Steve Rozenberg  14:32
Got it. Got it. Okay. Um, so let's talk about you've mentioned maybe doing other, you know, deals or maybe remotely. Are you thinking of going remotely because you're thinking of the deals you want? The strategy doesn't exist there is that why are you thinking remote in your area?

Ashley Kehr  14:52
Well, in New York State, the landlord tenant laws changed in June of 2019 and they went from like a three day notice from eviction to a 14 day notice for eviction, and they just became a lot more tenant friendly. And now since COVID has happened, there's just been a lot of changes that have hurt landlords, and have really benefited tenants. Just the fact that they've haven't had, you can't evict a tenant and haven't been able to since like, April, I think. So I actually have one tenant that owes $5,000 and has not paid since March. Oh, and we cannot get them out because of the eviction. Property taxes are high, too. In New York State.

Steve Rozenberg  15:50
I got it. Okay. So, you know, that kind of brings me to my next question. So, you know, you were the host, and you, Joe and myself, and you know Joe, that won the dream investment adventure. And so you kind of you saw me, he and I working through this process of, you know, he was in North Carolina, basically, he was basically stuck on the marine base, is that, you know, a marine couldn't leave. And so we did everything remote. Did the whole deal. Is that are you trying to do something like what Joe did? or What is that? Is that in parallel to what you want to do? Or what are you looking to do?

Ashley Kehr  16:28
Well, I love to travel. So I like any excuse to go look at a property. Joe's story is a great example. And everyone has to watch the YouTube series to see exactly how every single step is done with that, because Joe is like, one person, he can't go and travel to a state to look at a property, he can't manage the property. Because it What does it did he leave yet? Or he's going soon? And he's gonna be just completely off the grid for so many months.

Steve Rozenberg  16:58
Yeah, he actually, yeah, he's already on deployment, gone.

Ashley Kehr  17:03
Everything is set up for him, and it's going to be taken care of while he was gone. I mean, that is like, the dream investment to have it set up that way.

Steve Rozenberg  17:13
And, you know, I think that the the main thing I wanted to enforce in Joe is that he doesn't need to do all of it, or any of it really, and he shouldn't, you know, that's why you have teams, that's why you have realtors, that's why you have lenders, that's why you have property management companies like Mynd to handle it. And so you're his job is to be the CEO of that business and have the team members doing it. And the whole concept that I wanted him to learn as we were coaching him through was I said, I want you to be able to do this in five cities at the same time. Because it's the same process. Oh, his challenge is only going to be finding funding to get the deals. I said that and I told him I said that's going to be your role is to find funding, and everyone else will be doing their job and what we're doing here in, you know, he ended up purchasing in Atlanta. And it was all about creating the mold that is duplicatable. So I told him, I said, just doing this for one deal is great, but that's not the goal. If you want to create wealth, you're only going to do it in multiple numbers. Right? You and I know that's number one. Number two, it's got to be something that you can duplicate without you being involved in. So you got to create that standard operating procedure, which is what he and I created. You know, he used his assets. I mean, he had Mynd involved asking about rents, what can you rent the property for? Is this a good area? Is it a bad area, and that's using the team and then he it kind of clicked in his head at some point. That was what it was about. It wasn't about him doing all this hard work, it was about having the team and the resources, bringing him the information? And then him making the decision is that are you are you kind of trying to think of the same model for yourself? Or how do you plan to do it?

Ashley Kehr  18:54
I think it goes back to when you first met me in February, and you were coaching me and like I still remember exactly telling you what I like to do the rehab. I like that part. Like I don't want to outsource it, I like doing that you would tell me you're gonna get burnout, you're gonna get burnout, like at least put the systems in place. So when you're done, you can hand it off. And I haven't even picked up a hammer anything probably since the beginning of August. And things are still being taken care of and things are being done. And I used to do my own property management. And so I was very hands on doing all that. That's outsourced now. You'd be very proud of me. I did SLP for my bookkeeping and my bookkeeping this week is all being handed over. So like I think as I've like just mostly a lot has been talking with you and learning from you is that now that I've transitioned my properties at home to pretty much being run passively, it's going to be so much easier for me to go out of state and to... because my biggest thing is letting go letting go of that control. But with the processes you have taught me and like the things you showed Joe, like, you don't have to lose control, you can still know exactly what's happening. But other people are doing the stuff that make it happen.

Steve Rozenberg  20:10
Yeah, and I think that a lot of times we think that that should be our job for some reason, we get it in our heads that once we own the property that our knowledge, and our self worth is how good we can lay tile? Or can we unstop a toilet? Or how do we evict a tenant and all these things, we think that is now our job. And the reality is, that was never your job. Or really, it never was the intention of why you even bought real estate, you buy real estate to create wealth. And give yourself more time, when you do all these things, you're doing the exact opposite of why you even bought the piece of real estate asset in the first place. And I think what happens, what scares a lot of people is that when you have to invest out of state, like, you know, you and I have talked about and Joe and everyone, you have to rely on systems and other people, which is another skill set of leadership, that a lot of people would rather roll up their sleeves and do it themselves and have to learn to kind of be humble enough to say, Okay, I'm not good at coordinating teams or using management companies. And I don't know what to ask. So instead of looking dumb, I'll just do it myself. And so this forces you to say, Okay, I can't go to Atlanta to unstop a toilet, or to put the right tenant in, I need to have a team and the leverage. And the concept is, that is really the reason why you got into real estate, we kind of, we cloud it with these other things. But that's not really the reason why we're doing it. And I'm glad that you were able to kind of get that out of that with from us talking and all the other things because it's, it's such a valid point that, you know, it's kind of like motivation, only, it's like a battery, it only lasts so long, and it will run down. And when you're dealing with all these problems of daily drama and issues, like you said, I like doing these things. And I said that that's going to go away over time, you are not going to like it, it's not a fact, you will end up hating it and resenting it. And normally that is actually the reason that you end up leaving real estate, or a lot of people do is because now they're putting in bad tenants, or the contractor rip them off for all the things that they really don't know how to do. This is the part that they feel is their ego and their self worth, not to their finances to get the property. And, you know, like I told you, and I told you, I said your job. If I told you, your job is to keep buying five to 10 properties a year, but you're busy laying tile and painting a room, you're not doing the job that I hired you to do, the job I hired you to do was to go build five or 10 properties. And so it's a big mind shift for a lot of people that to understand that concept.

Ashley Kehr  22:47
And like part of it too, is that I did my rehab all last winter, like I did it completely me and my partner everything and it turned out beautiful. And it's almost like, okay, I did it once. So I know I have that experience, I have that knowledge now I can oversee contractors a lot better. But like, I don't feel like any more that I have to be the one doing the work anymore. And it's like a great feeling. But then even with my bookkeeping I dragged on for so long without sourcing that because it was like, well, I like to do it. But then it was like, I don't want to sit down today and actually just go through it. And it was just so much mindset stuff. Like if I give this off, I'm gonna have like so much free time, but then panic sets in. It's like, Okay, what am I gonna do to actually, like, be successful and continue to grow my business? Because now I'm busy with the bookkeeping, so I don't have to, like really think.

Steve Rozenberg  23:44
Well, I don't think you're old enough to have a midlife crisis, maybe a first quarter of your life crisis. Yes, that's true. That's true. And you know what, what a lot of people do with this, especially investors is we self-sabotage, right? So we buy a property, we want to buy more properties, we don't really know what to do. So instead of going to do all these things, we self-sabotage, like you may do with the accounting go, you don't, they're not doing it correctly, I better go do it myself. And so you kind of take it you have that hero itis where you take that away from them. And now you're doing it again, you're saying See, I have to be the one to do it. I don't have time to grow because I've got to do the books. And that's how we kind of feel like we're, you know, we're not doing what we're uncomfortable with. We gravitate back to what we're comfortable with. And, you know, like I said, I've many people that I've helped and like you as well. It's like, you've got to get comfortable in that uncomfortable zone. And sometimes, you know, using a management company or investing out of state because, like you said, you know the properties and the investments you have in your area, they work but maybe they're not going to get you to your goal. So now you've got to say I've got to get uncomfortable. I've got to go into another market, another region. And now I've got to figure out how do I build the team, which is that is very scary for people to do. And it can be paralyzing to think of all the things you have to do. But, you know, for people that watch the series with Joe and myself, you know, once we did it, and we got through it, and I said, let me ask you, I said, compared to how you thought it was going to be, to actually putting action items in place and carrying out those actions wasn't really that bad. And he was like, You know what, it really wasn't, he's like, I don't know what I was scared of the whole time. He's like, everyone, everyone is here to help me. And I've been the reason why, you know, maybe I'm not doing it. So I think that's, I'm one last question on this I have is, from you, being the host of you know, the rookie podcast show, you've seen a lot of new investors, and, you know, you get experienced ones as well. What do you see as the common challenge that people have, especially newer ones? Hmm.

Ashley Kehr  25:58
I don't know about that. A common challenge, um, hey, it's probably analysis paralysis. And just like taking that first action, there's definitely been a lot of guests who have actually do like, just they just do it right ahead. And then they go, um, I don't know, that's a really good question. Yeah, I would say the top of my head, I would say, the analysis paralysis.

Steve Rozenberg  26:33
Yeah. I mean, when you think about it, I don't know many investors that say, Man, I wish I didn't buy all these properties. I wish I didn't take so much action last year. Yeah, most people that you've talked to, they go, I should have done more, you know, I should have done is much more. And so, you know, the biggest problem with people take the action is very simple, they don't take action, they just don't do it. And, you know, they hide behind the numbers, or all these reasons or rationale, that again, that's just what I've seen, where they, they come up with all these reasons why they're not doing it. And at the end of the day, it's really just them in their negative self talk, that's telling them, I'm not ready, whatever the case may be that they're telling themselves and I think that once they get past that initial hurdle, they're like, wow, this, you know, there's gonna be some rocky roads, there's gonna be some bumps. And that's kind of the sandbox that we play in as investors that you're dealing with very dynamic, you have a house, that, you know, you get an inspection, but you don't know how that house was treated in the last 10, 15, 30 years. And then you have a resident that things happen, you know, they get divorced, downsized, you know, they lose their job, they, you know, deployed, whatever the case may be that you can't plan that. And so these things happen. But to me, it's about having surrounding yourself with like-minded people to be able to ask them, like, Is this correct? Is it not correct? This is my plan is my strategy, where am I going? And so I think that, you know, I think a lot more people would be more successful, you know, as a little kid, you know, we all do things that nowadays, we're like, I cannot believe like I did that jump, or I did that thing. And because there was no one there to tell us. Don't do that. And we didn't know that you shouldn't do that. So we just did it, you know. And so I think it's interesting, what we don't know, too, all of a sudden, we're being told all these things we should do. Normally, by people that have never done them, you know, they're giving us all this advice, and they've never actually done it. They don't own real estate. They don't have rental properties. But they're telling us how to handle rental properties and why we shouldn't buy them. So as with everything going on, you know, in the industry, and you know, all this stuff, what are you thinking is going to be the biggest opportunity 2021? If I was an investor and wanted your advice, what would you say?

Ashley Kehr  28:41
Well, if you live in New York State, it would definitely be businesses. And we actually found out yesterday that we're going through our second COVID shut down, restaurants can no longer have in person dining. I mean, it's select areas throughout our county, but we foresee that it will be more of the county as time goes on. Schools have shut down again, they're going virtual. And then some areas, only essential businesses can operate and non essential has to shut down. So I think for and I don't know what this is going to happen with rent again, if there will be you know that the non evictions will be extended or what but I think there will be a lot of opportunity for actually purchasing businesses because they could they did not survive this year with all of the shutdowns and stuff like that. So as far as property, I mean, I guess it really depends on who actually owns the property. I know that in New York State they finally did like a rental assistance and mortgage assistance for people but I think the biggest opportunity will be purchasing restaurants, hair salons, businesses like that they labeled nonasessential.

Steve Rozenberg  30:00
So are you are you thinking, buying these buying the buildings of the restaurant, the commercial property? And then what do you think? And do it then turn it back into a restaurant after this settles after, after the dust settles and everything? Is that kind of your thoughts are flipping the business? Or what are you thinking?

Ashley Kehr  30:17
Yeah, so my partner and I actually had this discussion yesterday where, so we the four unit building that I bought, we had put the liquor store in that. And that makes that building a lot more valuable to us, because we actually have the business in that building. So our idea would be to go in and purchase these commercial buildings, these, we would love mixed use where it's the residential apartments up top, commercial units downstairs, just because you have two different types of income. So I consider those two different revenue streams, you have the residential income, and then you have the commercial income, but then you go ahead and put your own business in there. And that is, you know, a third stream then. So what we've looked at is essential businesses. So in New York State, our liquor store is considered essential. So even if everything else shuts down, the liquor store remains open. So we didn't, we didn't have it. So like a month ago, so we completely missed the first shut down COVID. But we probably would have made out pretty well being open then I know other liquor stores in the area did. But another example would be a laundromat. So my partner currently owns a laundromat now. So we would open up a laundromat. And it's not really purchasing an existing business, like I would never want to own a restaurant, or hair salon or anything like that. But I would like to take those those buildings that maybe didn't survive the COVID shutdowns because the the businesses left, the owner couldn't find new tenants or something like that, and put our own businesses in. So the cash cow businesses, I like to call them laundromats and liquor stores, right now are the two that we're focusing on.

Steve Rozenberg  31:59
Oh, that's good. I never really thought about that. But yeah, that makes sense. Especially if you can get something that's considered essential. I mean, that's kind of you know, I'm sure the liquor sales go up quite exponentially high during the shutdown period. What else is there to do? Right, exactly, now you're getting into a winter months. So even more so. So that's interesting. So are so that is that your focus? And is that going to be in New York? Or is that just all over the country?

Ashley Kehr  32:26
I don't really know, a laundromat I would do anywhere. But a liquor store. I don't know, I haven't done any research on the actual laws and stuff and other states. And if you had to live there. And in New York State, you can only own a liquor store if one liquor store. So we could not just another liquor store in New York State, it would have to be that, you know, maybe we purchased the building and then a family member or someone else owns the liquor store.

Steve Rozenberg  32:59
Really, even if you did a franchise, even if you franchise your business, that's still considered multiple liquor stores.

Ashley Kehr  33:05
See, like, there's like a huge like premiere, there's huge liquor stores like that, that have multiple locations. So I'm not sure.

Steve Rozenberg  33:13
Yeah, I'm kind of bullish on the self storage industry, I'm looking at getting in a deal with a mutual friend that you and I know, getting into a very large self storage deal in. I think this one's in Iowa. But I just think that, you know, a lot of people, when they're locked down, they got to start moving stuff out, and they've got to start putting it places. So I'm thinking that's going to be something that's going to be able to capitalize on and be able to get very solid. It's always is a solid revenue stream.

Ashley Kehr  33:44
What I'm thinking do during lockdown, they shopped online, Amazon, you get more stuff in your house, and then you need somewhere to store the old stuff.

Steve Rozenberg  33:55
Exactly, exactly. Yeah, that's great. I will ask thanks. You know, I, you know, you and I know each other well, personally. And so I always enjoy, you know, talking to you and stuff, and you've got so much knowledge. And I think it's great. And and obviously, I mean, I know you have like 400,000 followers online and everything. But in case somebody doesn't know who the great Ashley Kehr is, how do they find you and talk to you and maybe watch your show and kind of learn more about you?

Ashley Kehr  34:24
Well, first of all, I'm only great because I know Steve Rozenberg. You can find me on Instagram. You can find me on at wealth from rentals. And then I'm also on bigger pockets if you just search my name Ashley care. And then I just started a YouTube channel with our mutual friend Jason and it is called talk it over where basically we just interview different investors and I'm teaching Jason all about real estate investing.

Steve Rozenberg  34:59
Yeah. Great. Yeah, I've seen a couple of them. They're good. They're good. I know a lot of the people that you've talked to so far, so really? Yeah. Yeah. Mark. Well, Mark. Brad's a great guy. He's a good guy known pretty well. But anyways, again, Ashley, thank you, you know so much for being on the show. For those of you watching. Again, I know we talked about the dream investment adventure with Joe Roberts, definitely go online, watch it on the BiggerPockets YouTube channel with a collaboration with us at Mynd Property Management, and Bigger Pockets. We actually have a new episode that's dropping today, this afternoon, I believe 530 Central Standard Time, it will come out. And we're going through the process of the nine part series, where I'm basically coaching Joe from never even investing out of his area, to finding a property going through some deals that kicked out during due diligence, closing on it, and then we're doing the rehab, getting it rented and everything. So it's a very interesting way to look at watching someone else. go through that process, if you're curious about it. So again, go on biggerpockets.cam, you can also go to our website at mynd.co there, we have a landing page, and you can see it there as well. So just make sure that you do that if you want to learn. Like I said, there's a lot of people out there. Also, if you do want to talk to us at buying property management, we are in over 19 investable markets nationwide. So if you're looking to invest, you can see how Joe utilize the resources of Mynd, which was great because he had a couple deals that he was looking at. And he ended up not going forward based on the information that he was getting from Mynd of the area, the rent prices or ratios, and all of that. So again, you want to use a management company, not just to collect the rent, but you want to use them as a resource, a trusted resource. And what's nice about Mynd is you can do that in multiple markets. So if for some reason you want to invest in Atlanta, Las Vegas, Phoenix, Seattle, Houston, Texas, Dallas, the all these markets offer different things. And you can utilize Mynd with the same platform, the same software, the same property manager to help you and advise you on different deals based on your goals. And based on your strategy. So if you haven't done so, go to our website at mind.co there you can get all the information you need. If you want to follow me on social media, Rozenberg Steve, on Instagram or on Facebook as well. And again, I'm here to help. If you have any questions about Mynd obviously I can help you out with that and direction to the right people. Well, Ash, thank you so much for being on today. I appreciate it. For those of you watching us. Thank you for watching, and we will be back next week. On behalf of Ashley, Mynd, myself Bigger Pockets, thank you all for watching and we will catch you next time. Bye Bye.

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Show Resources

- BiggerPockets Real Estate Rookie Podcast #33: A Marine (and his Mentor) Buy a BRRRR: Step-by-Step with Joe Roberts and Steve Rozenberg

- Find Ashley Kehr on Instagram and BiggerPockets

Meet Ashley Kehr

Ashley Kehr is the co-host of the BiggerPockets Real Estate Rookie Podcast where she helps and inspires others to get started in real estate investing. She is a buy and hold investor since 2014 and she lives on a dairy farm in Buffalo NY with her husband and our 3 young boys.

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