What inspired you to become interested in real estate investing?
My parents have been dabbling in real estate with live in flips since I was a baby. They even bought a resort in Wisconsin 1999 (one of my goals by 2030- but on a beach)! I always had an interest in real estate investing but thought college and the corporate job was the way to go.
After 7 years of monotony, I had to take a risk and give my true passion a shot. My husband and I bought our first rental in 2017 while I was still working so I knew there was a chance. I thought to myself, why am I paying buyers commission instead of getting it myself - so I got my license, quit my job and never looked back!
Tell us about one of your favorite real estate transactions
Our first flip was the best experience because we learned a ton and it gave us the confidence to keep going! We partnered with my brother (the money) and found a deal with New Western‚ talk about a beginner investor. We knew a contractor who helped us remodel our house so of course, we thought we already knew everything and it would be easy peasy.
We bought it in July 2017 for $96k with an ARV of $150k and it (supposedly) only needed $20k. We made a ton of mistakes like doing a lot of work ourselves and completely overdoing the house for the neighborhood, but we were proud of what we accomplished. It was finished in November and we decided to Airbnb for the holidays until the market picked back up in the spring (that was actually somewhat smart aside from me having to clean it every week!). I listed it in February for $175k and it was under contract that weekend! We made a whopping $8k each and learned that it was way too much work for the profit but we had fun doing it!
Do you have any real estate mantras, rules, or words of wisdom you try to follow in your investing?
Budget for at least $30k on every flip! Also, do not rent to someone you know to try and help them out
Please share a favorite business or real estate related resource.
I am always using Bigger Pockets as a resource and of course Realtea talks is my other favorite meetup.
What do you like to do during your "off" time?
Currently relaxing poolside, pre pandemic (and baby) it was visiting every new restaurant possible and trying all the food!
What else would you like your fellow meetup members to know about you?”
I love traveling and that is one of my "whys". Priorities have changed somewhat with a 6 month baby and the pandemic, but I am still making plans for 2025 and beyond!
What is the best way for someone to get in contact with you?
Text or email! 210.482.0649 Tanyalechner24@gmail.com
Other thoughts?!
Meetups are the heart and soul of my business! Networking is so important to keep motivated and accountable in a world of negativity. BREW has been an amazing group of people and I can't wait until we can get together in person!
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