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?

See this reply in the discussion

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  • Member since 2019 · 2 posts · 1 vote
    6y

    This is awesome and so inspirational. Thank you for sharing! 

  • Rental Property Investor · Los Angeles, CA · Member since 2017 · 30 posts · 12 votes
    6y

    @Sammy Lyon Congratulations! This is amazing and very inspirational to say the least. I live in Los Angeles as well and looking to invest out-of-state. Recently started going to the local meetups so hopefully we connect at some point. Again, congrats! You are truly inspiration to us newbies!

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    6y
    Originally posted by @Manny Awasom:

    @Sammy Lyon Congratulations! This is amazing and very inspirational to say the least. I live in Los Angeles as well and looking to invest out-of-state. Recently started going to the local meetups so hopefully we connect at some point. Again, congrats! You are truly inspiration to us newbies!

    Thanks Manny! Meetups have been an awesome way to meet people and learn. Hope to connect with you in LA!

  • Rental Property Investor · New York City · Member since 2017 · 34 posts · 30 votes
    6y
    congrats
  • Rental Property Investor · Corona, CA · Member since 2017 · 21 posts · 4 votes
    6y

    Amazing story Sammy. Thanks for sharing!

  • Investor · Kansas City, MO · Member since 2018 · 117 posts · 46 votes
    6y

    @Sammy Lyon what construction course did you take? And did it help with estimating rehab cost for your out of state investments?

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    6y
    Originally posted by @Ramon Vazquez:

    @Sammy Lyon what construction course did you take? And did it help with estimating rehab cost for your out of state investments?

    Cal State Dominguez Hills Construction Project Management program. There’s a Plan Reading class followed by a Cost Estimating class taught by an architect m/GC. It’s designed for new construction though. 

    Right now I’m reading J Scott’s rehab estimating book. I will say — being out of state it’s tougher to do your own take offs because you’re relying on your property manager and contractor to do it. It’s good to have your own idea of course to compare but you have to find people willing to work with you out of state so that also limits your options. 

  • R.A., MBA, Rental Property Investor · Member since 2019 · 15 posts · 2 votes
    6y

    Can someone answer this Hypothetical question for me regarding 1031 and Taxes.

    Scenario

    Lets say my Father bought a property for 1,000,000 and Sold it for 2,000,000

    1031 Exchanged the sale

    Bought two properties for 1,000,000 dollars each.

    Held the properties for one year.

    Sold me one property for 1 Dollar.

    Sold the other property for 1,000,000.

    Questions

    Is this legal?

    What would he owe in taxes?

    What would I owe in taxes?

    What laws could stop this from occurring?

  • Chapel Hill, NC · Member since 2017 · 1 post · 0 votes
    6y

    My dear fellow UMass SJEer...I couldn't be MORE PROUD!!!!!! Looking forward to connecting soon. Till' then, keep on keepin' on!! In solidarity always, your pal cc :)

  • Scottsdael AZ · Member since 2018 · 7 posts · 3 votes
    6y

    Nice work Sammy.  Thanks for sharing.  

  • Flipper/Rehabber · Nashville TN · Member since 2018 · 25 posts · 11 votes
    6y

    This is awesome! Congratulations. I am currently on my 3rd rental unit/airbnb. looking to get more deals done as well in the Buffalo NY area 

  • Fort Erie Ontario, Canada · Member since 2019 · 29 posts · 15 votes
    6y

    There is a meetup in buffalo a week from today.

    https://www.biggerpockets.com/...

  • Investor · Fayetteville, AR · Member since 2016 · 53 posts · 14 votes
    6y

    @Sammy Lyon So awesome man! Congrats!

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    6y
    Originally posted by @Kramer Stewart:

    @Sammy Lyon So awesome man! Congrats!

     Thanks!! Now onto the headache of actually MANAGING all these 10 units! (even with a property manager it's a lot of work...)

  • Member since 2019 · 2 posts · 0 votes
    6y

    Hi Sammy, I also in CA. We shall meetup discuss ideas on properties investment.

  • Chicago · Member since 2018 · 216 posts · 165 votes
    6y

    Congrats. Question: how did you do these other deals without any of your own money? Others' money? 

  • Rental Property Investor · Visalia, CA · Member since 2019 · 44 posts · 20 votes
    6y

    Congratulation Sammy! 

  • Member since 2019 · 11 posts · 20 votes
    6y

    Super Awesome!!! I'm in Anaheim. If you are in the area hit me up. Love to chat over some beers.

  • All Over, USA · Member since 2017 · 689 posts · 756 votes
    6y
    Originally posted by @Sammy Lyon:
    Originally posted by @Kramer Stewart:

    @Sammy Lyon So awesome man! Congrats!

     Thanks!! Now onto the headache of actually MANAGING all these 10 units! (even with a property manager it's a lot of work...)

    Just gotta vet your PMs well. I barely ever hear from any of mine.

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    6y
    Originally posted by @Aaron Hunt:
    Originally posted by @Sammy Lyon:
    Originally posted by @Kramer Stewart:

    @Sammy Lyon So awesome man! Congrats!

     Thanks!! Now onto the headache of actually MANAGING all these 10 units! (even with a property manager it's a lot of work...)

    Just gotta vet your PMs well. I barely ever hear from any of mine.

    There’s a lot of moving parts for the first few months of the BRRRs inheriting tenants, renovations, leasings, refinances - each unit in different stages. I’m looking forward to barely ever hearing about my properties! ;)

  • Realtor · Atlanta, GA · Member since 2019 · 10 posts · 0 votes
    6y

    Wow, this is AMAZING!! CONGRATS!!

  • Member since 2019 · 1 post · 0 votes
    6y

    What a great success story! I love how real estate can become a reward for hard working, passionate people. Keep up the great work! 

  • Rental Property Investor · Allentown PA, United States · Member since 2016 · 567 posts · 442 votes
    6y

    thats awesome @Sammy Lyon congrats! What market are you buying in?

  • Real Estate Broker · Los Angeles, CA · Member since 2018 · 193 posts · 346 votes
    6y
    Originally posted by @Bill Goodland:

    thats awesome @Sammy Lyon congrats! What market are you buying in?

    Right now Cleveland. Next year I'll be traveling to a few markets in Texas to diversify out of the Midwest, and I'm exploring some opportunities in Los Angeles where I live. Ohio has been a great place to start investing for cash flow, and I've been lucky to find a great team there!

  • Waukesha WI · Member since 2019 · 42 posts · 4 votes
    6y

    That is an excellent story in action taking. Inspirational!

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