We caught up with the brilliant and insightful Violeta Sandoval a few weeks ago and have shared our conversation below.

Violeta, appreciate you joining us today. It’s always helpful to hear about times when someone’s had to take a risk – how did they think through the decision, why did they take the risk, and what ended up happening. We’d love to hear about a risk you’ve taken.

Growing up undocumented, I avoided risk at all costs. I did not want to do anything that could put myself and my family at risk. Every decision I made was carefully considered. I spent my earlier years planning out my life, study hard, get a degree and steady career, get married and live happily ever after. Of course, that did not happen. However, at the age of 22, I found myself at rock bottom, after a failed marriage and running out of money for college. I felt trapped and my future was unclear.

One day, a coworker mentioned how he was joining the United States Navy and encouraged me to join. However, as a First Generation immigrant, I felt I had the responsibility to take care of my family and protect them. How could I leave them? It was a big risk. If I leave would they be okay? They were still undocumented. What if they needed me? Weighing my options, and talking to my family, I went for it. Going to a new state and leaving everything behind was a big risk. Yet, it was a decision that changed my future for the better. I became a citizen and was able to sponsor my parents. I was not only able to finish my degree, but the Navy paid for it and gave me a promotion. I was able to buy my first car and my first home. It gave me financial stability and set the stage for my next big risk, real estate investing.

Similar to joining the Navy, the opportunity to invest in real estate fell on my lap. At this time, I rented out one of my extra rooms of my home. This turns out to be a form of real estate investing called “house hacking,” where you find a way to make income from a home you live in. The military brings a lot of moving, and soon came the time in which I would have to move. What was I to do with my home? A supervisor mentioned renting out my home and he could manage it for me. Although, I heard the horror stories of tenants not paying or ruining your home, I took the risk and rented out my home. This risk led to a rough and bumpy real estate investing journey. I learned many things the hard way, which caused headaches and sometimes cost me money. However, with mentorship, I continued to invest in real estate. I did not know then how this decision would change my life. In 2022, I struggled through infertility treatments, all which is costly. However, I was able to afford them with the monthly rental income. Unfortunately, I had to turn to surrogacy, which is even more expensive. Again, real estate saved the day. I was able to use a Home Equity Loan to pay for a surrogacy journey, which resulted in my daughter, who is now 1 year old.

In my community risk is avoided. Find a secure job, save, and avoid debt. Yet I have over half a million in debt in real estate and land. However, they are worth over $720,ooo and bring in over $60k per year in gross rental income. This has put me on the path to become work optional in the next 5 years. Taking a risk can be scary. However, ask yourself, “what will the effect be on my life in the next year, 5 years or even 10 years?” Because, the risk that I took, changed my life and my family’s for the better.

Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.

I am Violeta Sandoval, founder and creator of MoneyChisme, a platform dedicated to empowering the Latino community to build financial freedom and wealth one rental property at a time. I am also the host of the MoneyChisme Podcast that teaches financial literacy and elevates the voices of other minority personal finance experts.

I am a First Generation Mexican immigrant, who grew up undocumented and with minimal personal finance education. I learned real estate investing and finances the hard way. Therefore, I decided to create a space where I can share my experience and teach financial literacy without the guilt and through a cultural lens. My main mission is to teach the Latino community, through my Rental Property Bootcamp, how to gain financial freedom one rental property at a time. I promote ethical and empathetic real estate investing and uplifting the community with the wealth you gain.

In your view, what can society to do to best support artists, creatives and a thriving creative ecosystem?

Community and profit sharing mentality. American culture can be competitive and individualistic. However, in order to bring change and support creatives, we need to share resources, experiences and lessons learned. Additionally, turning around and “profit share” by investing, whether time or funds, to someone or a small business that is starting out. There is space for everyone.

We often hear about learning lessons – but just as important is unlearning lessons. Have you ever had to unlearn a lesson?

Doing everything on my own. Growing up it was instilled in me that I can do anything and everything. However, I took it to the extreme and it became difficult to allow others to help me. I wanted to be self-made. But this led to control issues and anxiety. It caused a lot of burnout. Through therapy and creating MoneyChisme, I had to learn to outsource tasks and accept help. I don’t have to be an expert at every thing or do everything.

Contact Info:

• Website: https://www.moneychisme.com
• Instagram: https://www.instagram.com/money_chisme/
• Linkedin: https://www.linkedin.com/in/violeta-sandoval-612330307
• Youtube: https://www.youtube.com/@Money_Chisme

Image Credits

Yellow background photos: Kita Zuleta
Desk with Black shirt photos: Jacqueline Brooks