All
Members
Companies
Blog
Forums
Podcast
Webinars
    User Log in  /  Sign up
  • Forums
    Newest Posts Trending Discussions Followed Forums Real Estate News & Current Events General Landlording & Rental Properties Buying & Selling Real Estate Deal Analysis See All
  • Education

    Read

    BiggerPockets Blog BPInsights: Expert Analysis Coronavirus Content & Resources Guides Glossary Reviews Member Blogs

    Watch

    Webinars Video Library Financial Independence Blueprint Intro to Real Estate: Rentals

    Listen

    BiggerPockets Real Estate Podcast BiggerPockets Money Podcast BiggerPockets Business Podcast Real Estate Rookie Podcast Daily Podcast (Audio Blog)

    Topics

    Business Operations Finance Finding Deals Property Management Property Types Strategy
  • Network

    Recommended Vendors

    Real Estate Agents Mortgage Lenders Companies Hard Money Lenders Contractors Investment Companies

    Search

    Members Events Jobs
  • Tools

    Calculators

    Rental Property Fix and Flip BRRRR Rehab Estimator
    Wholesaling Mortgage Payment 70% Rule Airbnb

    Services

    BPInsights: Property Insights Tenant Screening Property Management Lease Agreement Packages

    New Feature

    BPInsights (beta)

    Quickly analyze a property address or ZIP Code to compare your rent in your neighborhood.

    Analyze a property
  • Find Deals
    Real Estate Listings Find Foreclosures External Link Ads, Jobs, and Other
  • Bookstore

    Real Estate Books

    Profit Like The Pros Bidding to Buy See all books

    Featured Book

    BiggerPockets Wealth Magazine book cover
    BiggerPockets Wealth Magazine

    Written by financial journalists and data scientists, get 60+ pages of newsworthy content, expert-driven advice, and data-backed research written in a clear way to help you navigate your tough investment decisions in an ever-changing financial climate! Subscribe today and get the Oct/Nov issue delivered to your door!

    Get the Magazine
  • Pricing
Log In Sign up
User
Quick search links
Podcast Hard Money Lenders Books
BlogArrowReal Estate Deal Analysis & AdviceArrowMeet the Investors: I Quit My Government Job to Do Real Estate (& Never Looked Back) With Tanya Salseth
Real Estate Deal Analysis & Advice Nov 25, 2020

Meet the Investors: I Quit My Government Job to Do Real Estate (& Never Looked Back) With Tanya Salseth

Alexander Felice
Expertise: Real Estate Deal Analysis & Advice, Real Estate News & Commentary, Real Estate Investing Basics
47 Articles Written

In this edition of Meet the Investors, I'm going to tell you a BiggerPockets success story that is quintessential to the community. It's about somebody who was a full-time employee, started by doing long-distance rentals, eventually transitioned to small multifamilies, and now she does real estate full-time.

Want more articles like this?

Create an account today to get BiggerPocket's best blog articles delivered to your inbox

Sign up for free

My friend Tanya and I met through the BiggerPockets Forums (like so many people I meet). It is the best networking platform that has ever existed on the whole internet. You can learn so much, and you can meet these fantastic people.

She’s going to tell you her whole story, and we’ll go through her latest deal in lovely Maryland.

(It’s so humid there. I actually had to curl my hair. I know, I know. I hate it, too.)

Related: Meet the Investors: How I Live for (Almost) Free by House Hacking With Kelly Marburger

Tanya was a full-time government employee. She was overseas a bunch, and she was buying rentals back here between Texas and Washington, D.C. And then finally she was able to accumulate enough rentals that she could quit her government job.

She’s a Realtor now! She’ll talk about some key lessons for new real estate investors and how to get started.

Let’s meet her.

Meet the Investor: Tanya Salseth

Hi, I’m Tanya Salseth. I'm a full-time real estate investor and agent in the Washington, D.C. metro area. I have been investing here for over 10 years. I started with small, single-family homes, worked up to small multifamily, and I was eventually able to quit my federal government job to do real estate full-time.

How I Got Started in Real Estate

In 2008, I found myself divorced, out of graduate school, with a dog, an old car, and a couple of thousand dollars in the bank. That’s all I had. But I had a new job, and I thought, “OK, I’m going to pick myself up from this place and start over again.”

Related: Meet the Investors: $1,500/Month Cash Flow Per Door & Tenants Who Stay 10+ Years—Here’s How I Do It

I went and joined the U.S. Foreign Service and went overseas. I’ve been working overseas for the last 12 years, and that allowed me to essentially save large amounts of money to put into real estate.

Why Real Estate Beats Stocks

Real estate has changed my life. There’s nothing else I can say about it. I mean, I started as a single person with a bunch of graduate student debt. I got one rental and then another and then another.

Every time I had money, I would just shove it into real estate. A lot of my friends thought, “Well, you know, why aren’t you investing in stocks?”

Personally, I think the stock market is like gambling. You have zero control over whether it goes up or down or sideways or any which way, right? But in real estate, you control the asset. You select the asset. You know what the demographic is that’s going to rent that asset. You are sort of the master of your own destiny.

How BiggerPockets Helped Me Get Started Investing

I’m here to tell you that I am a BiggerPockets success story, and I can’t tell enough people about BiggerPockets.

When I started, I knew nothing. I was overseas. I was in West Africa. All I had was my computer.

I didn’t have real estate meetups. I didn’t have networks. I didn’t have anything. But I would get home from work, I would be on my little computer, and I would read all of these stories about people doing really amazing things with real estate—the strategies, the seller financing, the flips, all these things.

Related: Meet the Investor: Cash Flowing Rentals Despite an Incredibly Expensive Market With Russell Brazil

I thought, “Well, that guy is doing it. Why can’t I do that, too?

It didn't matter that I was overseas. I knew there must be some way of doing this. And so through BiggerPockets, over the last 10 years, I've done seller financing, I've done a BRRRR, I've done flips, I've done turnkey real estate investing. I've done pretty much everything that you can do—all of it, literally 100%.

How I Overcame Challenges

I learned through BiggerPockets. There would have been no other way that I would have known about these things. And in a way, even though I was far away overseas with no peer group, BiggerPockets was like my peer group.

I could see these people doing things. You could ask other members: “Hey, how do you do that?” And people would share their experiences. That gave me the confidence to go out and do it myself.

Sure, I made tons of mistakes. I can’t even tell you the number of mistakes that I have made. This is not a perfect process by any stretch of the imagination. But you’ve got to go do it. You have to throw yourself out there today.

My Latest Real Estate Deal

My latest property is a lovely three-unit building in Hyattsville, Maryland. This building had nothing done to it since 1945. In the video above, you can see what it looks like today. It’s still a work in progress.

I love small multis in D.C. because they work. They’re essentially the same price as a single-family home that would be really expensive.

This one was $650,000. But instead of getting maybe $2,900 a month in rent, you can get $4,500, $5,000, or $5,200 in the D.C. area.

Related: Meet the Investors: Husband & Wife Flip Team Aims to Win Big With Nate Cross

Some people say, “Oh, that return’s not that great.”

But guess what? In D.C., we have the luxury of appreciation. Generally, all the buildings that I buy, in a year or two, they'll be worth $50,000-70,000 more than I bought it for. You can also force equity, which is part of what this building is about.

This building I bought through a wholesaler that I found on Facebook. After I found him, I didn’t even see the building. I had a friend go and check it out because I was out of town. They had to put the offer in.

I used hard money to buy the property and renovate the property, and I will be refinancing this place. So, it’s essentially kind of a mix of strategies—BRRRR and other things. There are lots of tools. You can learn about them all on BiggerPockets. That’s where I learned them!

Why I Transitioned From Single-Family to Multifamily

People have asked why I’m investing in such an expert market. And I’ll tell you why: I had a single-family house in San Antonio, Texas, that was making me maybe $150/month. At the end of the year, times 12, that is not very much profit, right?

So, I decided to sell all my out-of-state rentals and bring the money back to D.C. because the appreciation here is fantastic.

I mean, I can’t get excited about $100 a door if I can make $25,000-100,000 on a flip—or just through appreciation—in Washington, D.C. I just can’t get out of bed in the morning for a hundred dollars—it sounds terrible.

I started with single-family homes because I felt like it was comfortable. It was what I knew. It was easy. Like, oh, I can do the math.

But what I found after several years of owning those types of properties is the returns just weren’t that great. It was a very slow path to wealth. I mean, your HVAC dies and there go your profits for the year. I just couldn’t get excited about it for all the work that it takes to get a property up and running. I felt it wasn’t worth it.

So, I had to go bigger. But that’s where I started: single-family. That’s where I got my feet wet, and I got comfortable. But once you start, you move on to bigger and better things. You take on more risk, your skills grow, you can do more stuff.

That’s why I went to small multi. I’m actually working now on making offers on commercial deals. That’s a growth path!

People on BiggerPockets have done it. You can do it, too.

Related: Meet the Investors: Switching to Rentals After 15 Years of Flips With Cindy Veit

My Advice to Other Investors

Now I’m going to tell you a few things that I’ve learned along the way in the last 10 years of doing real estate.

Take Action

Get started. Just take action. You’re not going to know everything before you act. You’re going to figure it out along the way.

That is super uncomfortable. Most people don’t want to do it. They want to know what’s going to happen before they start. But uncertainty is part of growing; uncertainty is part of this experience.

Be Brave

In order to do big things in real estate, you have to lean into places where you feel like you’re going to throw up. Honestly, every single time I bought something that’s been beyond what I did the last time, I felt almost sick to my stomach, like nauseous even.

I thought: Am I making a mistake? Am I doing the wrong thing? Am I going to lose a bunch of money? Are my tenants going to be horrible and break a bunch of stuff? There’s all kinds of things that will come up.

Some people make the mistake of going on BiggerPockets, reading a bunch of stuff, and then doing nothing. I challenge you to get on BiggerPockets, learn from other investors, and then go implement the strategy that you find speaks to you.

People mistake reading a book as action. I did something! I went to a personal growth conference! I read a book!

But then you don’t implement, and you can’t learn from the experience of doing. So, you need to go out and act upon those things.

Network

Your network is your most important thing. When I was living in Italy, I was in Rome. I saw a triplex that I wanted in the states. And because I had reached out and networked with people on BiggerPockets, I was able to find an agent who helped me purchase this place completely sight unseen.

That is the kind of trust and relationship-building that happens on BiggerPockets and can help you go further in your real estate career.

The Bottom Line

My name is Tanya Salseth. Real estate and BiggerPockets have changed my life. It can change yours, too! Just get started today.

Is there something stopping you from taking action? 

Join the discussion in the comment section below.

By Alexander Felice
Alex has spent his career in sales and finance industries and now invests in rental real estate along with working in the underwriting department at a bank in Las Vegas. Alex is an expert in long-d...
Read more
Alex has spent his career in sales and finance industries and now invests in rental real estate along with working in the underwriting department at a bank in Las Vegas. Alex is an expert in long-distance single family rental real estate, debt and leverage strategy, and financial analysis. He spends most of his free time teaching investors through writing and coaching to ensure their best possibility of success. Alex has been buying real estate for nearly three years and currently owns eight single family houses. He also helped fellow investors directly purchase over 20 properties in 2018. Alex’s writing can be found at BrokeIsAChoice.com, and more of his story can be heard on the BiggerPockets Podcast episode 301.
Read Less
9 Replies
    Michell Clark from Deridder, Louisiana
    Replied about 2 months ago
    This is a fantastic read especially for me since I’m from the DC area but live in Louisiana. I have just bought my first condo in Shreveport La, last year. Little did I know what 2020 had in store. I’ve just landed a new government job in Shreveport and will finally be able to live there full time while I renovate. I’m excited and I’ve already considered buying the condo next door. All in all I over the next 2 years I’ll be making my way back to the East Side buying 1 property at a time. Thanks for the reminder, positive energy, and uplift! Michell Clark

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Jason Kooner New to Real Estate from Vancouver
    Replied about 2 months ago
    This a great confidence inspiring post to a newcomer to REI such as myself. Thank you for sharing!
    Tanya S. Rental Property Investor from Arlington, VA
    Replied about 1 month ago
    Thank you Jason!

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Steve Morris Real Estate Broker from Portland, OR
    Replied about 2 months ago
    This is fascinating the number of people quitting their jobs and making tons of money in real estate. They should pair this with the article on when the real estate bubble will implode.

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Curt Todd Investor from Happy Valley, OR
    Replied about 2 months ago
    Question for Tanya; You say, 'I’m actually working now on making offers on commercial deals.' Could you please say what kind of deals these are?
    Tanya S. Rental Property Investor from Arlington, VA
    Replied about 1 month ago
    Hi Curt! In the last year, I have made offers on a few multifamily properties here in DC that were between 5-10 units. Totally different ballgame than residential, particularly on the financing front.

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Allyn Polancic Architect from Los Angeles
    Replied about 2 months ago
    Super inspiring post and a great read! Appreciate the call to action. Good point about choosing and controlling your assets vs investing in stocks. Can totally relate to the sick-to-my-stomach part - that was me for 3 days when I put an offer on my first property last month.. "lean into places where you feel like you’re going to throw up" - what great advice - gotta push yourself to grow!

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Tanya S. Rental Property Investor from Arlington, VA
    Replied about 1 month ago
    Thank you Allyn! Now when I don’t feel that sick to my stomach feeling with a new offer, I actually second guess whether I am thinking big enough. If it scares me, it usually means I am growing at the speed I want :)

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
    Tyrone Dennis
    Replied 28 days ago
    My first deal is not a ground breaking cash-flowing property. I picked it up because after about a year of deliberating, it was time to make a decision. Now that first deal got my feet wet but it is time to move to multi-family, more cash-flow. Thanks for the article.

    Report Abuse

    Why are you reporting this?

    Additional Comments (optional)

    Cancel
Rotate Log in or sign up to comment

Related Blog Posts

Real Estate Deal Analysis & Advice Jan 10, 2021

Should You Buy Properties With Back Taxes or Liens?

By Engelo Rumora

Are properties that have back taxes or liens a good investment? They certainly can be if the numbers work. Here’s how to tell.

Read more →

Real Estate Deal Analysis & Advice Jan 09, 2021

Meet the Investors: I’ll Net $25K on One Deal (& I’m Just Getting Started) Featuring Elizabeth Leigh

By Alexander Felice

Learn about a real estate investor whose journey has taken her from construction management to wholesaling by honing her interpersonal skills.

Read more →

Real Estate Deal Analysis & Advice Dec 25, 2020

Meet the Investors: Law Enforcement to Landlord With Alyson Anderson

By Alexander Felice

Real estate investor Alyson Anderson went from the police academy to real estate and obtained four cash-flowing rental properties in 8 years.

Read more →

Real Estate Deal Analysis & Advice Dec 09, 2020

Meet the Investors: Finding More Time for Family Through Real Estate Investing Featuring Jon Kessler

By Alexander Felice

Meet a Baltimore investor whose BRRRR-focused real estate investment strategy has allowed him to spend more time with his family.

Read more →
Log in Sign up

Log in

Forgot password?

If you signed up for BiggerPockets via Facebook, you can log in with just one click!

Log in with Facebook

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Let's get started

We just need a few details to get you set up and ready to go!

Use your real name

Use at least 8 characters. Using a phrase of random words (like: paper Dog team blue) is secure and easy to remember.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.

Or
btn_google_dark_normal_ios Created with Sketch. Continue with Google

Why create an account?

Receive a free digital download of The Ultimate Beginner's Guide to Real Estate Investing.

Connect with 1,000,000+ real estate investors!

Find local real estate meetups and events in your area.

Start analyzing real estate properties, we do the math for you.

It's free!

Explore

  • Membership
  • Community
  • Education
  • Marketplace
  • Tools
  • FilePlace
  • REI Resources
  • Perks
  • Glossary
  • Reviews
  • iOS App
  • Android App

Company

  • About Us
  • Press
  • Advertising
  • Careers
  • Stats
  • Contact Us

Important

  • Editorial Guidelines
  • Terms of Use
  • Rules
  • Privacy
  • FAQ

Social

  • Facebook
  • Twitter
  • YouTube
  • Instagram
© 2004-2021 BiggerPockets, LLC. All Rights Reserved.