It was this week 4 years ago that I first got obsessed with real estate.
I still remember — it was lunchtime at our all-staff conference, and I mentioned to my colleagues that I wanted to buy a house.
My cubicle-mate (yes, ugh — I had a cubicle) said, “why don’t you buy a duplex or triplex, live in one unit and rent the other?”
I had literally never thought of that. I know it’s hard to believe because it’s all I ever talk about now, but the thought of rental income had never, ever crossed my mind.
Needless to say, I didn’t just think about it: I got obsessed. I started listening to Bigger Pockets, reading all the books at the library and scouring online resources in all my free time. I would come home from work and spend 6 more hours researching real estate and financial freedom through rental income.
I set a goal to be financially independent by 40.
At the same time, I was becoming disillusioned with my role in the education system — I was supposed to be innovating, but with budget cuts, enrollment pressures and the ever-present specter of standardized tests, I didn’t honestly feel like I was really making a difference in the system.
So when my contract at the school district came to a close and I didn’t know what to do next, I reached out to a career coach. She gently encouraged me to take a BREAK from finding another job before jumping into the next thing (because I was burnt out af). She also saw how I lit up when I talked about real estate.
I took a break and…
I bought my first rental property at the end of that year.
I took classes in construction management and worked for a general contractor building affordable housing and commercial projects.
I scaled my rental portfolio to 10 units in my first 10 months.
I got my real estate license to help more people invest and buy their first (and second, and third) properties.
And then started buying apartment buildings with my partners here in Los Angeles.
What wonders a “break” can do!!
I share this story to celebrate how this winding journey has gotten me here today — which is just a snapshot in time along the way really — and also that it is possible to make a mindset shift mid-career and pursue bigger goals than just following the career ladder.
For me, that goal is financial freedom, so I can have TIME freedom, and flexibility to travel and be with my family and garden and go to the beach and camp in the middle of the week.
Because I’m so excited about other people gaining the tools to achieve financial freedom, I’m offering another FREE workshop!
Buying a House When You’re Self Employed: Free Zoom Q&A
Thu, Apr 7, 2022 @ 7PM PST
www.lyonideas.com/free-workshop
Join Fiona Bryan from Academy Mortgage and Sammy Lyon from Dow Capital for an interactive live Q&A on how to buy a house while self employed or running your own business. Ask us anything!
Topics we’ll cover:
– Strategies to qualify for financing
– How to prepare yourself to buy real estate and build wealth
– Market update on buying a house in LA
www.lyonideas.com/free-workshop
I’m game to talk real estate any time.
So if you want to get started — or level up — please reach out and let’s connect!
Happy 4 year anniversary to this obsession! 🙂
Talk soon!
Sammy