All Forum Posts by: Julia Lyrberg

There are many great books written by BP authors — I’d definitely recommend checking them out!

Hi Michael, Using a HELOC to fund your first rental can be a smart move, especially if you want to keep your cash on hand for other expenses or future deals. It lets you tap into your home's equity, usually at a lower interest rate than other loans. Just be mindful of the variable rates and have a plan to cover payments if rental income slows down. It's a solid strategy if you stay prepared for unexpected costs and keep some reserves on hand. Plenty of investors have used this approach to grow their portfolios.

Hi David! That’s great that you’re looking to get into a duplex with seller financing. A good way to find deals is by connecting with local real estate agents, wholesalers, or checking out sites like Facebook groups and Craigslist. For negotiations, it’s all about working out the down payment, interest rate, and loan terms. If you can figure out what the seller wants, you’ll have a better shot at creating a win-win deal.

Hi Radhika! It sounds like you’re taking all the right steps to set yourself up for success. Narrowing down a market can definitely feel overwhelming, but focusing on key factors like job growth, population trends, and rental demand can help. Since you’re looking for landlord-friendly states, consider areas in the Southeast or Midwest, where affordability and cash flow potential are often stronger.

Hi Shawn! Getting your real estate license can be helpful, especially if you want direct access to listings, market data, and the ability to save on agent commissions. That said, plenty of successful investors do it without one by working with experienced agents and focusing on building a strong network. Since you’re leaning toward multifamily, it might be worth connecting with local investors or brokers to see if a license is necessary for your goals.

Hi Daniel! Sounds like you’ve built a strong foundation with those Florida townhomes—congrats on that! It’s definitely a tricky market right now with rising costs and tighter margins. For multifamily deals, positive cash flow often comes from finding under-market rents where you can add value through light improvements or operational efficiencies. You might also look at areas with stronger rent growth potential or consider creative financing options to lower debt service.

Hi Garrett, Doing a cash-out refi to pay off your current mortgage and turn it into a rental could work, especially with Atlanta’s strong rental market. The biggest factor to consider is the new interest rate since it’ll likely be higher than your current 3.2%. You’ll want to make sure the rental income comfortably covers the new mortgage, taxes, insurance, and any maintenance costs. If rates drop in the future, refinancing again could lower your payment, but it’s good to make sure the numbers work now just in case.

Hi Shawn, Whether to self-fund or use a loan really depends on your goals. Self-funding gives you full control, no debt, and better cash flow, but it ties up a lot of your cash. Using a loan lets you spread your money across more deals, scale faster, and potentially see bigger returns. If you’re looking to grow a larger portfolio quickly, financing might be the move. But if you want to keep things simple and lower risk, self-funding could be a solid option. It all comes down to your comfort with risk and how fast you want to grow.

You're off to a great start! With your residency limits, maybe check out more affordable spots in Orange, Rockland, or Westchester counties. Smaller multi-families like duplexes could make house hacking more doable. If that's still a stretch, BRRRR properties in places like Rochester could be a solid backup plan. Keep learning and stay open to different strategies — you're already ahead of the game!

Very solid advice, Action speaks louder than words!