Anthony (Tony) Ashley

I just want to give people some real, practical advice on this. I’m not special. Anyone can do this. If you take anything from this thread, believe that. #FreeGameFriday (7/7)

Here’s the positives: 1.) i was able to live rent-free and then cash-flow even more when I got ✂️ from the @AZCardinals and went to the @Lions 2.) 3 1/2 years later, in the middle of a pandemic, I was able to take a $61,000 profit on this property by selling it. (6/7)

Now I want to keep it 💯 with you. This wasn’t all easy. Some pitfalls of this strategy are: 1.) It sucks being a landlord. Period. 2.) You have to pay high mortgage insurance with this loan. (5/7)

I lived in one unit and rented out the other three for $2,350 My mortgage payments were $1700 I would’ve paid ~$2k in rent for a nice spot in Scottsdale, AZ like some of my teammates were doing. That would’ve been $24k annually in rent instead of the $7800 in profit (4/7)

What some people don’t know is you can use that FHA loan to buy a multi-family home or a place with multiple units The limit is 4-units, so that’s what I bought Another thing people don’t know is that the loan requires you to live in the spot you buy for at least a year. (3/7)

I started with what’s called an “FHA Loan”. It’s a loan from the government that let me, as a first-time home-buyer, only have to pay a 3.5% down payment on a property I wanted to buy. So the property was $268,000, I would only have to put down $9,380 to buy it. (2/7)

I built a real estate portfolio as a practice squad player in the NFL. I’m not tweeting that as a flex. I want to illustrate that even with relatively limited time and money, you can too. Here’s how I got started (🧵1/7)