From teacher to 10 units in 10 months!

From teacher to 10 units in 10 months!

Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes

I’m so excited because I just closed on my 10th out of state unit today! I did my first deal ever exactly 10 months ago, thanks to the Bigger Pockets podcast, a lot of library books and a lot of good people. Before this I was an environmental education teacher for over a decade, and last year I got hooked when my friend had me listen to the podcast. So when yet another grant-funded position ended earlier this year, I chose to take a break from full time work and focus on RE instead...and it’s been so amazing!!

On my break I took classes in construction management and spent a lot of time going to meetups. Now I’m working as a project manager for a GC to get real world experience (building a ground up affordable housing development in LA), and I’m getting my real estate license. I also donate 1% of all gross revenue (not just profits) from real estate investments to affordable housing and community development, and am partnering with other investors to create a social equity financial model for our rental properties. More on that when I set up the blog. 

So my commitment to social justice hasn’t gone away, it’s just transformed into this new field (new to me) of real estate investing. I’m also really passionate about my non-profit colleagues finding their way to financial freedom as well. (If you can only read one book, read Your Money or Your Life). So far I’ve got 4 houses and 3 duplexes with none of my own cash invested except the first deal, and my goal is to be at 30 units with at least $60,000/year of net cash flow within the next 3 years.

My wife loves me AND is sick of me talking real estate all the time lol so if people ever want to catch up and talk RE I’m in! Some other folks in LA like @John Koster and @Shiva Bhaskar and I like to connect on out of state investing over beers every couple of months, and a new thing we’re talking about too is Opportunity Zones.

So anyway, I haven’t really shared too much of my story here and I just wanted to spread some inspiration for other go getters and life changers on the forums. 

As @Alexander Felice says, I think you’ve got to be a little obsessed. And take action! Thanks for all those who have supported me so far and to many more!

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Real Estate Agent · Washington, DC · Member since 2017 · 10 posts · 52 votes
7y

Amazing! You have accomplished so much in just 10mths. Congratulations!! Mind sharing how you funded and structured your first deal/rental purchase and how you were able to scale so quickly?

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  • Germany and Jacksonville, FL · Member since 2018 · 109 posts · 18 votes
    7y

    @Sammy 

    @Sammy Lyon Huge congrats on your success and for contributing to your community. This world needs more people like you!

  • Rental Property Investor · Racine, WI · Member since 2019 · 18 posts · 20 votes
    7y

    @Sammy Lyon congratulations that’s awesome 👍🏾

  • Baldwin, NY · Member since 2019 · 16 posts · 7 votes
    7y

    @Sammy Lyon what an incredible story. Question....who is the book written by?

  • Miami, FL · Member since 2017 · 2 posts · 1 vote
    7y

    AWESOME! Congrats. 

  • Valdosta, GA · Member since 2017 · 57 posts · 6 votes
    7y

    @Sammy Lyon Great story Sammy! Where did you find you’re deals and what type of financing did you use to get to your 10 units?

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    7y

    The book is Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence by Joe Dominguez & Vicki Robin. Obviously like many others, Rich Dad Poor Dad is the book that snapped me out of my lifelong obsession with owning a house and got me focused instead on rental property. After visiting dozens of houses and duplexes last year trying to house hack in the Los Angeles market, Rich Dad Poor Dad totally helped me realize I could just stay in my rent-controlled apartment (which I love) and buy rental property instead! (I also learned in that time how to actually analyze deals and found out that my LA "house hack" was going to be a very expensive proposition, funded by — and trapping me into — my day job!) 

    But after several books on real estate and hours and hours of the podcast, I actually paused completely on real estate and realized I needed to get my financial life in order before making any moves. I’ve always been a saver, but I had never actually tracked my spending, or consciously saved for anything except the vague idea that I needed to "save for the future." I listened to a lot of @Scott Trench and @Mindy Jensen's BiggerPockets Money podcast, and read several books on financial freedom and personal finance: Dave Ramsey, Millionaire Next Door, Richest Man in Babylon, etc. 

    Of all of them, Your Money or Your Life radically shifted my mentality on work and money, got me tracking and evaluating my spending in alignment with my values, and honestly gave me the emotional permission to not equate my identity as an educator with my job as an educator. And, now here I am! Anyway, I'm happy to share more of my story and financing, for now here’s the book for those of you who asked!

    https://www.betterworldbooks.com/product/detail/Your-Money-or-Your-Life--Transforming-Your-Relationship-with-Money-and-Achieving-Financial-Independence-9780140286786

    @Mike Naccarato - @Account Closed  

  • Salt Lake City, UT · Member since 2017 · 1 post · 1 vote
    7y

    Which books did you read on investing with none of your own cash please

  • Member since 2019 · 13 posts · 6 votes
    7y

    That’s awesome!

  • Member since 2019 · 1 post · 2 votes
    7y

    @Sammy Lyon

    Wow that’s amazing! But how did you do it?

  • Investor · Joplin, MO · Member since 2015 · 76 posts · 78 votes
    7y

    @Sammy Lyon well done

  • Rental Property Investor · San Diego, CA · Member since 2014 · 1k+ posts · 2k+ votes
    7y
    Hi all, This is Swanny from Podcast 238. I have talked to Sammy a few times giving advice etc... and if you ever need to bounce some ideas off of me, feel free to message me. I also leave my phones open to talk to BP members 3:15-6:15 pm. pacific standard time during the week too. Swanny
  • Lincoln, NE · Member since 2017 · 18 posts · 4 votes
    7y

    What an encouraging story! I'm getting on that book right away. It's very inspiring that you donate 1% of your gross to a cause that is important to you. Thanks for sharing, @SammyLyon!

  • Specialist · Omaha · Member since 2019 · 22 posts · 5 votes
    7y

    @Sammy Lyon

  • Real Estate Agent · Hartford, CT · Member since 2018 · 41 posts · 15 votes
    7y

    @Sammy Lyon awesome job. I need you to talk to my wife, she's a teacher and I need her to get on the real estate investing train.

  • Towson, MD · Member since 2016 · 1 post · 0 votes
    7y

    @Sammy Lyon what was the initial investment on your first deal?

  • Rental Property Investor · Downey CA, United States · Member since 2017 · 31 posts · 7 votes
    7y

    so excited for your success Sammy. Can't wait to learn from you guys next week at the meetup

    cheers mate 

  • Rental Property Investor · Arcadia, CA · Member since 2019 · 7 posts · 1 vote
    7y

    @Sammy Lyon awesome job! Love reading this story, can only hope for great results like that, so you focus on our of state then?

    I also live in LA and have thought about looking over state lines for more reasonable deals

  • Investor · NY · Member since 2019 · 171 posts · 80 votes
    7y

    Great story but am I the only one suspicious of this OP? 140 comments and two weeks later and he has yet to elaborate on the details.

  • Member since 2019 · 2 posts · 3 votes
    7y
    Originally posted by @Randy Gutierrez:

    Great story but am I the only one suspicious of this OP? 140 comments and two weeks later and he has yet to elaborate on the details.

     I wish he would just answer how he did it already. Don't care about the mindset books and stuff. What did you do.

  • location independent · Member since 2019 · 3 posts · 0 votes
    7y

    @Sammy Lyon

    I am in awe. Your post gives me so much hope!! If you are interested, I would love to connect and pick your brain. I will dm you after this comment. Thanks for sharing!

  • Investor · Sunnyvale, CA · Member since 2016 · 11 posts · 4 votes
    7y

    Well done!  Curious, how did you find your first deal?  And what methods have you used for "none of my own cash invested"?

  • Member since 2019 · 67 posts · 21 votes
    7y

    @Sammy Lyon

    Wow that is wonderful! I admire you for having achieved what you did and I am looking up to your success! Makes me wanna start investing right now too!

    Good luck on your next goal!

  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    6y

    I like it.  Burning the candle at both ends to make it work. That's focused energy.

  • Specialist · New Orleans, LA · Member since 2018 · 2 posts · 2 votes
    6y

    Congrats! Just the motivation I needed. Keep it up.

  • Investor · Danbury, CT · Member since 2017 · 12 posts · 3 votes
    6y

    Awesome story. I'm so motivated to start my real estate journey now!

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