The Perfect First Rental Property That Makes $2,500 Per Month!
Episode #331
Your first rental property is the hardest; trust us on that. You go through SO many strategies, different markets, and emotions throughout the process. Most wannabe investors get fed up and quit before they can build any real wealth, but those with a strong reason behind their dreams of rental property ownership make it and seldom regret it. Lyrva Sanchez’s “why” was taking care of her two boys while being present as a single mom.
Shortly after her separation, Lyrva knew she didn’t want to sacrifice any quality of her children’s lives. She still wanted them to go to the best schools in the safest areas, but in Southern California, even the most basic property was pricey. She tried several strategies to get her first rental property and create extra income, but none cemented. One day, a light bulb went off, and she came up with the PERFECT first rental property strategy.
If you’re struggling with analysis paralysis and don’t know which way to turn in your investing journey, hear Lyrva out. She flew across the country just to realize what she wanted was in her own backyard. Now, she makes life-changing side income and doesn’t have to sacrifice time with her kids to get it!
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Instagram: @rusticnchicbnb or / rusticnchicbnb
Website: www.lyrvasanchez.com/
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Show notes at: www.biggerpockets.com/blog/ro...
00:00 Intro
03:07 Newly Separated, But Debt-Free!
07:04 The Work-From-Home Hack
10:06 Getting Started During Tough Times
12:35 Serious Analysis Paralysis
20:54 The "Best of Both" Strategy
34:37 Finding the Perfect Property
39:31 The Final Numbers
44:04 Rookie Reply
45:36 Rookie Exam
48:50 Rookie Rockstar
49:31 Connect with Lyrva!
Пікірлер: 26
This Podcast is a Gift from Above. I did investing back in 2016. I stopped after 2 years due to a Promotion at my former Job. Now I'm getting back at it. I feel like a Rookie all over again but you 2 Wonderful people have helped me back in my Journey Thank You.
All the best with your ADU Ms. Lyrva! Thanks for sharing. You're doing great!
I believe this lady hustled her ex-husband. Look at her timeliness. She was married and had 2 kids from the marriage. She was married just long enough to pay off all her debts, probably while her husband paid all the bills. Then she divorced him, took the proceeds from the divorce, and put it into buying a home, part of which she gets to rent out for additional income. Plus, she probably receives alimony & child support. It's the ultimate hustle. In my opinion. It's happening a lot nowadays, like, a lot a lot. 💯
This episode just give so much good vibes, a very feminine approach to real estate investing 😊
Building ADU's is such a great way to add value to properties. I also see a lot of my clients converting garages into units and it adds a great amount of value to the property. You can go a long way if you get creative in this business.
Love the story , think many new investors have , run different strategies & it’s gets frustrating.. cuz nothing is happening 😅
Watch this one at 1.5x
Wonderful interview. Kudos to her for doing it. Thank you all.
@LyrvaSanchez
9 ай бұрын
Thank you!
“Teaching my kids they can figure it out” she’s changing generations!
Love the new background Tony ! 🔥
oh my god what she explained is what i'm going through right now
Awesome hosts and excellent guest! Only annoying thing is the review part where they clap themselves on the back. Besides that, truly excellent hosts!
Very encouraging
Great story! Very relatable and encouraging. Good luck Lyrva with all your future plans.
💙💙💙💙
All this means crap in today's situation. It's a mess out there.
@LyrvaSanchez
9 ай бұрын
Agree the market is tough. Not impossible. It means we have to get even more creative.
@MelStar31
9 ай бұрын
Yeah get creative and find a high yield savings account and watch it grow!
Great episode. Btw you’re beautiful.
The information is being shared sooooo slowly. Get to the point.
It sounds like she realized it was a lot of work and found other men to help her, then used the divorce money and child support to buy a place. She literally did nothing. Have some real investors on, not divorce queens.
@olethawade-matthews2007
9 ай бұрын
I beg to differ! She had the brains to put it all together and not blow it on purses and shoes...she's a regular person who turned a situation around. If u think she's not a REAL INVESTOR then u must think the ppl who turned their homeless and bankruptcy situations around and started investing aren't REAL EITHER! It's sad ur here for the comments to be negative and condescending. Smh
@biggerpocketsproducer
9 ай бұрын
BiggerPockets Producer Here. I put her on the show. Lyrva is a amazing Investor, and I can confirm that nothing you just assumed is true.
@tfrost08
9 ай бұрын
This is a mindblowing ignorant comment. Sounds like you've been burned by an investment queen. Don't be salty, bro. Instead, learn from the "divorce queen" and do something with your life.
@Mimi-pt4fo
12 күн бұрын
🤣🤣