From Working From Home to Developing Affordable Housing -Ashley Gallacher #08

Ashley Gallacher describes herself as someone who had a well rounded childhood in a well rounded environment. She did well in school, had a good mix of friends, did various extracurricular activities, and had supportive parents. So naturally, she pursued a business degree knowing that it would open up doors for her. And indeed, the doors did open. She found herself in a good position, making good money in the financial tech space. She had worked in this field for a couple of years since coming out of college, and everything changed when the COVID-19 pandemic upended her life (for the better!). When she really sat down and thought about her priorities in life, the jump from Corporate America to entrepreneurship wasn’t a difficult decision. She took on education and networking for sometime, closed a few deals, and that’s where we meet Ashley in this episode. Up to date, Ashley invests both in her home state of Washington and out of state in Wisconsin. She owns a total of five single family rentals, is starting up a short term, AirBNB rental property, and has a 20 unit affordable housing apartment building in development. Highlights and lessons learned from Ashley: 1) Be open to the signs. As Ashley explains, her transition from the W-2 life to real estate was rather abrupt. It felt as if one day she was an employee and the next, a landlord. Granted, not everyone’s transition is going to be like this. The important thing to note is to be cognisant of where life is pulling you. Like Ashley, assess your priorities, look at your options, and capitalize on your opportunities. 2) Surround yourself with people who set the example for who you are trying to be. This is one of the reasons why networking is so important. For one thing, just by simply seeing someone else do something, it proves to you that it is indeed possible. That will make taking action and reaching your goals more easily attainable. Also, by being around people who are more skillful and knowledgeable than you are, you open yourself up to accomplishing things sooner because you are gaining from their experience and shortening your learning curve. 3) Understand that issues are inevitable. Like Ashley says, whether it’s quitting your job, experimenting with new investment strategies, or closing deals, you are bound to run into roadblocks. However, it’ll rarely ever be the case that you (or someone you know) won’t be able to get past those roadblocks. More times than not, the solution to overcoming issues is simpler than you think. And the great thing about encountering issues and roadblocks? The more of them you run into, the more courageous you become and the better business person you will be. It’s those that hide from issues that stay fearful forever and never improve their skills nor gain any experience. 4) Ashley’s Top Three Books Recommendation: 1. Rich Dad Poor Dad by Robert Kiyosaki 2. The Only Woman in the Room by Heather Terrell 3. Traction by Gino Wickman To get in touch with Ashley, follow her on Instagram @rei.ashley_pnw To learn more about the Rat Race To FI Mastermind group, head over to: go.ratracetofi.com/optin and join our waiting list!