In this episode of the About That Wallet podcast, I discuss with Ashlee Edwards, an attorney and private money lender, the intricacies of private lending and wealth building. They explore how to alleviate risks in real estate investing without becoming a landlord, the importance of understanding the lending process, and the time investment required to set up a lending business. Ashlee shares her personal experiences, mistakes made in real estate, and the significance of building relationships in lending. The conversation also touches on creative financing strategies and the future of community-based lending.

Takeaways

//Private lending is a viable way to build wealth.

//Understanding your source of funds is crucial.

//Mistakes in real estate can be costly without proper agreements.

//Passive income in real estate is often overstated.

//Niche lending can provide unique opportunities.

//Building relationships is key in the lending business.

More About Ashlee:

- https://www.instagram.com/lndrsnfrnds/

- https://www.youtube.com/@ashealways

- https://www.facebook.com/lndrsnfrnds

My affiliate links for the May and August accelerators.

//May: https://abouthatwallet--genfinity.thrivecart.com/pmlamay26/

//August: https://abouthatwallet--genfinity.thrivecart.com/pmlaaug26/

Chapters

00:00 Introduction to Private Lending and Wealth Building

02:55 Understanding the Lending Process

05:50 Time Investment in Setting Up Lending

08:58 Navigating 1031 Exchanges and Mistakes

11:55 The Reality of Real Estate Investing

15:00 Finding the Right Borrowers and Projects

17:46 Establishing a Lending Business

20:57 Securing Loans and Managing Risks

23:47 Building Relationships in Lending

28:15 Red Flags in Lending: Lessons from Relationships

29:55 Decision-Making Frameworks in Lending

31:59 Identifying What You Want in Loans

34:59 The Importance of Emotional Management in Business

37:48 Building a Network for Empowered Lending

40:04 Creative Financing: Exploring Diverse Funding Sources

41:41 Defining Wealth: Freedom and Opportunity

42:52 Learning from Money Mistakes

45:18 Books that Inspire: Shifting Perspectives

47:12 Cooking and Seasoning: A Culinary Philosophy

49:51 Connecting with Ashlee: Where to Find More

Check out more episodes: https://aboutthatwallet.com

Disclaimer:

The information in this podcast is for general informational and educational purposes only and does not constitute financial, legal, or tax advice. Please consult with a qualified professional for advice tailored to your individual circumstances.

Episode 332