New to Real Estate, Focused on My First Rental and Building Legacy!

[Phyllis Ferrell]

Hi! I'm Phyllis!!! currently in the startup phase of JLD Enterprises, LLC, named after my three kids. I'm working towards building a real estate portfolio that creates legacy and long-term generational wealth.

Right now, I'm working full-time as a claims adjuster while pursuing my real estate license. My goal is to purchase my first multifamily long-term rental and eventually use the BRRRR method to grow and scale into a diverse portfolio that includes long-term, vacation, and commercial rentals. I also plan to expand outside of Washington state over time.
 
I’d love to hear your lessons and advice as I get started!

[Melissa Justice]

@Phyllis Ferrell,

Hi Phyllis! Welcome and congrats on taking action! Love that your LLC is named after your kids - that's a powerful "why" to build around.

Your vision of using real estate to create generational wealth is spot-on. Many of us started right where you are - working full-time, building the foundation, and learning the ropes. Getting your license is also a great move that will open doors, even if you don’t plan to be an active agent long-term.

Since you're in Washington, I’ll add that expanding out of state is one of the smartest plays if you're looking for better cash flow and lower entry points. A lot of investors I work with are finding success in turnkey rentals across the Midwest (think markets like Memphis, Indianapolis, and Cleveland) and the Southeast (like Birmingham and parts of Florida and the Carolinas). These areas offer strong rental demand, landlord-friendly laws, and solid returns without the price tags of the West Coast.

Turnkey rentals can be a great first step if you're balancing a full-time job, want something that's already rehabbed and tenanted, and need a solid property manager in place. It’s also a nice way to build experience and cash flow while you work up to BRRRRs and multifamily deals down the road.

Happy to share more if you'd like to compare markets or get help evaluating opportunities. Cheering you on as you build JLD into something lasting!

Best of luck,

Melissa