All Forum Posts by: Julia Lyrberg

Welcome to the BiggerPockets community!

Hi Jason, welcome to BiggerPockets!!

Hi Patrick! Tight inventory can definitely be a challenge, but it sounds like you’re taking proactive steps. Have you explored direct mail campaigns or partnering with local realtors who specialize in off-market deals? I would also recommend joining local FB groups in your area.

Hi Aja, welcome to BP!

Hi Makani, congrats on taking the first steps into real estate! Cash flow of $150-$300 per month is pretty common for many new investors, and whether it's 'worth it' depends on your long-term goals. If the property has solid appreciation potential or you're building equity while learning the ropes, it could still be a good deal. That said, make sure you're accounting for all expenses, like maintenance, vacancies, and property management, to ensure the cash flow is reliable. It’s also important to consider if the work involved aligns with your lifestyle and goals. Best of luck on your first deal!

Hi Devin,congrats on your duplex! It’s great that you’re cash flow positive and planning your next move. A good rule of thumb is to have 3-6 months of expenses (mortgage, utilities, insurance, etc.) set aside per property for emergencies. This can cover unexpected vacancies or repairs. If dipping into your emergency fund makes you uneasy, you might consider waiting a bit longer to build it up or look for ways to increase your cash flow on the current property. Timing your next investment is all about balancing risk and financial comfort—trust your instincts and run the numbers carefully. Best of luck!

Hi Michael! Using a HELOC to fund your first rental can be a great strategy, especially if you want to preserve your cash for other expenses or unexpected costs. It gives you access to funds at a relatively low interest rate, and you can repay it as the rental generates income. Just make sure the rental property's cash flow comfortably covers the HELOC payments and other expenses. Also, factor in potential interest rate changes if the HELOC isn't fixed. It's a solid way to leverage equity, but as with any financing, make sure the numbers work and you're comfortable with the risk. Good luck!

Hi Anthony, it sounds like you're in a good position to start building your STR portfolio, especially with no debt, great credit, and rent-free living! Picking up flexible part-time jobs to qualify for a mortgage is definitely a smart move, as conventional lenders typically look for consistent W2 income. While you work on that, you could also explore creative financing options like DSCR loans or partnerships to fast-track your first STR. Just be sure to research your target markets carefully to maximize returns. You're on the right track—good luck!

Hi Hank, congrats on having a fully paid-off property! I'd start by figuring out the cost of the cosmetic updates and seeing how much you could rent it out for. If the rental income looks solid, it could be a good idea to rent it out for some steady cash flow. A HELOC or cash-out refinance is definitely worth exploring if you want to free up capital for more investments, but make sure it fits your goals and comfort level. You're in an great spot to get started—good luck!

Welcome to the BiggerPockets community, you're definitely in the right place!