In this episode of the About That Wallet podcast, I discuss with Ashlee Edwards, an attorney and private money lender, the intricacies of private lending and wealth building. They explore how to alleviate risks in real estate investing without becoming a landlord, the importance of understanding the lending process, and the time investment required to set up a lending business. Ashlee shares her personal experiences, mistakes made in real estate, and the significance of building relationships in lending. The conversation also touches on creative financing strategies and the future of community-based lending.Takeaways//Private lending is a viable way to build wealth.//Understanding your source of funds is crucial.//Mistakes in real estate can be costly without proper agreements.//Passive income in real estate is often overstated.//Niche lending can provide unique opportunities.//Building relationships is key in the lending business.More About Ashlee: - https://www.instagram.com/lndrsnfrnds/- https://www.youtube.com/@ashealways- https://www.facebook.com/lndrsnfrndsMy affiliate links for the May and August accelerators.//May: https://abouthatwallet--genfinity.thrivecart.com/pmlamay26///August: https://abouthatwallet--genfinity.thrivecart.com/pmlaaug26/Chapters00:00 Introduction to Private Lending and Wealth Building02:55 Understanding the Lending Process05:50 Time Investment in Setting Up Lending08:58 Navigating 1031 Exchanges and Mistakes11:55 The Reality of Real Estate Investing15:00 Finding the Right Borrowers and Projects17:46 Establishing a Lending Business20:57 Securing Loans and Managing Risks23:47 Building Relationships in Lending28:15 Red Flags in Lending: Lessons from Relationships29:55 Decision-Making Frameworks in Lending31:59 Identifying What You Want in Loans34:59 The Importance of Emotional Management in Business37:48 Building a Network for Empowered Lending40:04 Creative Financing: Exploring Diverse Funding Sources41:41 Defining Wealth: Freedom and Opportunity42:52 Learning from Money Mistakes45:18 Books that Inspire: Shifting Perspectives47:12 Cooking and Seasoning: A Culinary Philosophy49:51 Connecting with Ashlee: Where to Find MoreCheck out more episodes: https://aboutthatwallet.comDisclaimer: The information in this podcast is for general informational and educational purposes only and does not constitute financial, legal, or tax advice. Please consult with a qualified professional for advice tailored to your individual circumstances.Episode 332Support this podcast at — https://redcircle.com/about-that-wallet/donations