What happens when you realize you're "mathematically eliminated" from reaching your financial goals at your current pace—and decide to do something about it?

In this episode, Angel Williams sits down with Ashley Garner, a residential real estate broker who scaled from single-family properties to a recent 196-unit acquisition. Ashley shares his journey from working with a hammer in hand alongside his father in junior high to building a multifamily empire. He reveals the power of infinite returns through strategic refinancing, why he never sold his residential portfolio, and how the tax benefits of multifamily can offset active income. This conversation explores the mindset shifts required to move from doing everything yourself to building a team, and why finding your lane—rather than trying to master everything—accelerates growth.

 

[00:01 - 03:30] The Foundation: Learning with a Hammer

• How Ashley's real estate education started in junior high with his father
• Why they still own most of those original student rental properties from the 1980s
• The progression from single houses to duplexes, triplexes, and beyond

[03:31 - 07:00] The Power of Infinite Returns

• How Ashley refinanced his 10-unit property three times for cash-out refinancing
• Why keeping residential properties alongside multifamily creates infinite returns
• The difference between overnight success myths and building wealth over decades

[07:01 - 11:00] The Mathematical Reality Check

• Why Ashley realized he was "mathematically eliminated" from his goals at his current pace
• How multifamily "balloons your net worth" compared to single-family properties
• The tax advantages: making $15K in cash while showing a $51K loss to the IRS

[11:01 - 14:00] From Residential to Commercial Mindset

• Why larger multifamily is "a whole business" with staff, maintenance, and operations
• The importance of accrual accounting for managing monthly expenses
• How to avoid cash flow disasters by setting aside money for annual expenses

[14:01 - 18:40] Scaling Through Delegation

• Breaking the "hands-on" mindset inherited from family business
• Why outsourcing to specialists beats being a beginner at everything
• How AI and international outsourcing can improve quality while reducing costs

[18:41 - 19:05] Finding Your Lane in Partnerships

• Angel's strategy: "Numbers are not my thing" to optimize team dynamics
• How specialization allows partners to play to their strengths
• Why staying in your lane accelerates overall team performance

 

Connect with Ashley: https://www.linkedin.com/in/ashleybgarner/

 

Key Quotes:

"I've purchased millions of dollars of other real estate with none of my own money, just equity from that [10-unit property]." - Ashley Garner

"Why wouldn't I outsource it to somebody that that is their specialty? There's a better use of my time than learning how to create graphics in Canva." - Angel Williams

 

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