Real Estate Underground Time, Money, and the $21 Million Leap with Ashley Garner
Ashley Garner grew up swinging a hammer on student rentals near West Virginia University. Decades later, he jumped from a 35-unit portfolio to a $21 million, 196-unit acquisition in North Carolina. In this episode, he breaks down what that leap taught him about conservative underwriting, why his dad's "cash is king" advice saved his business more than once, and how he manages a growing portfolio with a core team of three.
What you'll learn:
- Why Ashley underwrites for what a property does right now, not what it could do
- How flat rent growth and rising expenses are squeezing multifamily operators and what to do about it
- The KPIs he tracks every Monday to keep 200+ units running
- Why he's evolving from B-/C value-add to larger markets with better financing
- The mindset shift that makes raising capital feel like offering an opportunity instead of asking for money
- Why "if you need to raise $10 million, go ahead and raise $11"
Ashley is currently raising capital for Bryn Mawr Village, a 196-unit property in Jacksonville, NC being refinanced to a HUD 223(f) loan. Learn more at abgmultifamily.com.
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Additional Resources:
- Clark St Capital -> Passive real estate investments for busy business owners and executives
- Elevista -> AI SaaS for real estate investors
- Clark St Academy on YouTube -> Learn how to invest in real estate
Social Media:
- LinkedIn -> Ed Mathews (President at Clark St and Elevista)