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All Forum Posts by: Sammy Lyon

Sammy Lyon has started 13 posts and replied 186 times.

Post: Cleveland / LA Meet Up #5

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346

I'll be there, obvi!!!!

Post: Los Angeles SFR Investor Meetup and Networking Event

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346

That's great, hope to make it to this one! We'll probably be doing another Hollywood happy hour soon for folks in LA who invest in Cleveland too, will keep you posted. 

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Ashley Clements:

@Sammy Lyon Congratulation! Sounds like you are off to a great start. Keep up the good work. I look forward to following your progress. 

Thanks Ashley!! 

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Oscar Hernandez:

What an amazing story! Congrats to you. I am hoping to create a story similar to yours some day. I noticed you mentioned that this was an out of state unit, are all of your units out of state? Maybe we can catch up some time as I'm from the LA area as well!

Hi Oscar! Yes, all of them in Cleveland. Exploring some opportunities in Texas and LA for the future, but now the Midwest is great cash flow. Would love to catch up! @John Koster and @Shiva Bhaskar and I love getting together for beers and real estate, so there will be another get together in the new year I'm sure :)

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Maritza Soto:

Amazing! This is very inspiring. I'd love to hear more about your story on the podcast!

 Hehe thanks, maybe one day :)

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Ashley Zhang:
Originally posted by @Sammy Lyon:

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!

Congrats Sammy! Your story is inspiring! May i ask you how did you invest your most properties without your own money? Thanks a lot

Hi Ashley! It's been through JV partnerships, private lenders and hard money lenders. @Brandon Turner explains it all better than I could in his No and Low Money Down book. I haven't done seller financing yet though ;)

Again just because I have "none" of my own money in doesn't mean I don't sometimes front money for repairs before a refinance, or *have* money in reserves for emergencies.

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Benjamin Kelly:

Great job @Sammy Lyon! I also currently invest in the Cleveland market from out of state. You are right, it is all about the team! I would love to chat sometime! Let me know.

 Hey Benjamin, cool! I'd love to. How often do you head out there?

Post: Dropping out of college

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346

@Jaden Adams

You could also think about “hacking” college — transfer to a more affordable place, get an AA or BA at a place where you won’t be in so much debt and can also work while you study. A degree in anything is better than nothing. Just because you’re on a high-debt college track doesn’t mean you have to stay on that track.

You could have your cake and eat it too — a degree will help you in the future for sure and also a different program could help you start doing the things you love while you finish school. My 2 cents!

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
Originally posted by @Nate Fanara:
Originally posted by @Charlene Fetzer:

@Sammy Lyon Thanks for sharing your story! I am a new inspiring investor and I love to hear how people got started. 

I am curious, what made you decide to invest out of state? I ask because I currently live in Atlanta (where I was raised), but my heart lies in Denver (where I lived for a year after college). I dream of a multi family property there and would like to house hack the property to start. Any advice for someone interested in looking out of state? I know there are resources and books to help with this topic as well, but always nice to hear from personal experience. 

Thanks and best of luck! 

I invest out of state and the best thing i can tell you would be to network and go meet people. I have a friend who was investing in the are i now buy, i took a trip with them to meet his contractor, wholesalers, people who share the same interest. Since then i have gone back and made the trip on my own and now leverage that same group of people for my investments.

all about networking 

Great advice. It’s honestly all about the people. You have to know what you’re doing but you definitely can’t do it without other people who know what they’re doing!!

Post: From teacher to 10 units in 10 months!

Sammy LyonPosted
  • Real Estate Broker
  • Los Angeles, CA
  • Posts 192
  • Votes 346
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!