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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The 6-Step Guide to Buying Your FIRST Rental Property:
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Connect with Lyrva:
Facebook: https://www.facebook.com/lyrvasanchez
Instagram: @rusticnchicbnb or https://www.instagram.com/rusticnchicbnb
Website: https://www.lyrvasanchez.com/
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/echopm?utm_source=youtube&utm_medium=description&utm_campaign=none
Tony: https://www.biggerpockets.com/users/tonyr75?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Ashley and Tony on Instagram:
Ashley: @wealthfromrentals or https://www.instagram.com/wealthfromrentals/
Tony: @tonyjrobinson or https://www.instagram.com/tonyjrobinson/

Show notes at: https://www.biggerpockets.com/blog/rookie-331?utm_source=youtube&utm_medium=description&utm_campaign=none


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!