EP 95: How She Grew Her Duplex Portfolio with Little of Her Own Money with Ashley Kehr
As you grow your multifamily portfolio, the need for more financing to put these deals together (quickly) will become increasingly important. We are thrilled to sit down with Ashley Kehr from Buffalo, NY on today’s show to talk about how she grew her multifamily portfolio - duplex by duplex. She has been able to grow from zero to over 30 units with very little of her own money. On today’s episode, we chat with Ashley about a ton, including the numbers of her typical deal, how she finances deals with private money and other methods, and how to structure deals with money partners to create win-win situations!
Ashley Kehr is from Buffalo, NY and currently owns 30 units and 6 under contract. Most of her portfolio consists of duplexes in rural areas. The purchase price of her deals has ranged from $17,500 to $143,000. For the past two years, she has successfully used a line of credit on an investment property to present cash offers and then refinance to repay line of credit. Her favorite deal is a duplex she purchased for $35,900. The bank gave her a 90-day unsecured loan to purchase the property. She refinanced with the same bank after closing. She did $800 in updates and it appraised for $55,000. She refinanced at $42,000. She paid closings costs, unsecured loan, and had money left over. This property rents for $1200 a month. She just started her first Airbnb unit! Her husband owns a dairy farm that they live on. She has three boys – ages 5 and under. Before getting into real estate she worked as an accountant at a CPA firm and only last four months out of college before she quit to be a property manager. After two years of being a property manager for one investor, she realized she can own property too! Ashley is the Buffalo, NY InvestHER Meetup Leader which is launching in 2020!
On today’s episode, we discuss a ton with Ashley, including:
· Why you should find private money partners first
· What to actually share with a private money partner
Our mission is to support and inspire women real estate investors around the globe to live a financially free and balanced life. We are dedicated to creating empowering online and in-person communities where women have a non-intimidating environment to ask questions and receive the support they need. Our vision is to see all woman investors achieve her financial freedom goals on her own terms.
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1) The Real Estate InvestHER Podcast - The weekly show details the journey of some of the most amazing women real estate investors around the world, who open up their lives and share practical and strategic tools for growing a rental portfolio, flipping houses and the mindset that allows them to run a successful investing business while taking care of their families and most importantly taking care of themselves.
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