Ep. 142: Best Practices for Construction Management with Ashley Wilson

Managing construction projects is vital to real estate success. While many investors struggle to find, vet and manage contractors, Ashley Wilson has developed a formula for success.    Ashley developed a knowledge of construction working with her father and blended it with her corporate experience to create efficient systems and processes. She partners with both her father and her husband in the business and talks to us about working with family, best practices for construction management and how to find the best workers for real estate projects. Partner: Join me at the Best Ever Conference plus 5% discount with 5DEAL   Key Insights Started in short term rentals and single-family rehabs, before moving into multifamily  Father had a background in construction and she partnered with him to launch a flipping business Construction management is basically adult daycare  Made a $66k profit on the first flip, but it took one year A bad project with good partners can make a project successful Left pharmaceutical sales to focus on the lifestyle she wanted to live By learning the entire process, Ashley was able to drive the construction time frame from 9 ½ months to 9 ½ weeks You manage based on the skillset of the people you manage To find a great drywall guy, ask the painter - painters will know good drywall guys because they know who makes their job easier Property Management is not incentivized to make a project go quicker Find someone who has construction knowledge to oversee the construction process  Heavy value-add deals should have an asset and construction manager to determine the business plan Invested in Texas and Ohio - Texas for growth potential, Ohio for stable cash flow InvestHER is a resource for women in real estate launched by Liz Faircloth and Andresa Guidelli FB page, website Partner: Download a Free Sample Apartment Deal Package   Bull’s Eye Tips:   Resources: Real Estate InvestHER   Apparent Failure: Rehabbed a home with a failed septic system, can now promote as brand new septic system   Most Recommended Book: Rich Dad, Poor Dad by Robert Kiyosaki   Most Recommended Digital/Mobile Resource: Calendly   Daily Habit: 90 Days of Intention Journal by Brandon Turner   Current Curiosity: Different markets and nuances   Best Place to Grab a Bite: Hip City Veg   Connect with Ashley: Website: BadAshInvestor.com Social Media: @BadAshInvestor   Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.