By: Ashley Wolfe
Some would say it’s normal for school teachers to have second jobs, side hustles, or summer gigs to make ends meet. Pew Research found that one in six school teachers clock elsewhere for more money in their pocket (Schaeffer, 2019). But how many full-time school teachers are the CEOs of their own companies, creating cash flows that might match or exceed their teacher salaries while potentially building future wealth in real estate holdings? Unfortunately, it’s not one in six.
If you ask Ashley Wolfe, Founder and CEO of Coast & Country Cabins, she believes it should be. Mrs. Wolfe, as her elementary students call her, is a full-time elementary school librarian and vacation rental property manager. Back in 2018, she and her husband, Erik, started Coast & Country Cabins with the purchase of their first log cabin in La Grange, TX. “We wanted to have the cabin for our own weekend getaways but didn’t want it sitting vacant the rest of the time. We could barely afford both mortgages, so we took a chance on the vacation rental strategy and launched it on Airbnb for that extra income to help pay the bills. We were scared to death.”
In the five years prior to the purchase of the log cabin (The Blessed Cloud), Ashley built knowledge and relationships within multi-family and single-family real estate investing. “I was pretty much the only school teacher at these seminars, weekend networking events, and bus tours.” Even still, Ashley was tenacious about learning how to become a real estate investor and finding the strategy that best fit her goals.
“At first, I wanted to become a bazillionaire. I was convinced that was the key to happiness and freedom,” Ashley reflects. But now that she and Erik have acquired two investment properties (log cabins right next door to each other in La Grange, TX) and manage 15 more rentals for their clients, Ashley is rethinking happiness, wealth, and growth for herself and her family.
“I broke away from the advertised picture of wealth and the mantras to make millions.” Ashley began focusing more on her family and personal connections as the inspiration behind her growth in real estate investing and managing vacation rentals for clients. She admits that making her first million is still a fun dream, but for now, she prefers setting smaller goals like acquiring her next homeowner client who may be interested in making their second home into a vacation rental on Airbnb or VRBO. Steady portfolio growth and creating systems and processes that delegate essential operation tasks to her team have proven valuable as she navigates the balance between property management and a full-time teaching career.
It’s no surprise that, in her school librarian position with hundreds of students and thousands of books to manage, Ashley’s library runs like a well-oiled machine. The students do a bulk of the daily tasks, like putting away their old books and straightening up the library. “Students from PreK to sixth grade all learn how to put away their old books,” she explains.
After eight years of being a librarian and 20 years in education, Ashley learned how to assign day-to-day tasks to the workers who show up with a smile every day—the students. This concept of repeating the repeatable and delegating operational activities to boots-on-the-ground teams has allowed Ashley to grow her management portfolio from one to 17 properties while keeping her career intact, building on her real estate assets and operating vacation rentals with three types of commonly sought ROIs for homeowners: equity building, cash flow, and continued enjoyment of their property.
Did we mention she lives four or more hours away from all her properties? You read that right. All of Ashley’s vacation rentals are not just around the corner from her house. Some are a plane ride away. “I’ve always operated the rentals without being able to just show up to fix the problem. I knew I wanted that physical separation so I wouldn’t be swallowed up by managing the properties and never be home with my family.”
The Coast & Country Cabins team is an all-female powerhouse of housekeepers who take care of more than just laundry. Ashley’s management and teaching style takes advantage of any learning opportunity that contributes to growth. The growth of the company means team members become mini property managers, with guidance and in line with the standards of the company. “My amazing housekeepers are hired because they know how to clean, but I keep them on and add responsibilities that improve their overall role as housekeepers. For example, most of my housekeepers are also my Co-Hosts on Airbnb. They see all the messages that are sent between me and the guests. My housekeepers are immediately privy to small but significant changes, such as a late check-out or one day added to a reservation because guests don’t want their getaway to end. I’m no longer the middleman for full communication. It works like a charm.”
Housekeepers grow their skills in guest relations as well. “Even though they’re nervous at first, I train and coach the team on how to answer common guest questions and make recommendations for local activities. They are the experts, right along with me. And I pay them extra for this added value.”
Ashley knows that growing her company relies heavily on growing herself and her team members. She creates chances for her team to take on more, get paid more, and learn more about the back-end operations of a vacation rental management company. Ashley’s trust in this process as a property manager is much like the trust in students rising to the occasion to master new academic skills.
If Ashley had one message to send to teachers everywhere, it would be that real estate investing might not just be for the wealthy; it could also suit those with creativity and commitment, offering the potential for added security and wealth beyond a typical retirement package. Reach out to Ashley for insight!
Disclaimer: This content is for informational purposes only and is not intended as financial advice, nor does it replace professional financial advice, investment advice, or any other type of advice. You should seek the advice of a qualified financial advisor or other professional before making any financial decisions.
Published by: Josh Tatunay
