All Forum Posts by: Kimberly White

Hey Llamier, congrats on taking the leap! Every investor, even the experienced ones, has that “Did I mess up?” moment. You might’ve rate-shopped a bit early, but it’s not a deal-breaker. Credit pulls for the same type of loan within a short window (usually 14-45 days) are treated as one inquiry, so your score should be fine. The bigger thing is understanding that pre-approvals give you a ballpark, but your actual rate gets locked only when you have a signed contract. I had a client who kept waiting for a better rate, only to see it jump 0.5% overnight costing him thousands. Instead of stressing over timing it perfectly, focus on making sure the deal still works even if rates shift.

Since you’re buying in Norfolk, check if lenders there offer any investor-friendly incentives. A while back, a friend of mine stumbled onto a Virginia closing cost assistance program that wasn’t widely advertised..ended up saving $5K just by asking the right questions. Also, don’t just accept the first loan offer. Lenders want your business, and you can negotiate terms, credits, and even push for a better rate. Now, are you planning to house-hack and live in one unit, or going full rental? Your strategy could change the best loan options for you.

Hey there, I love seeing this kind of drive.. you’ve already taken the first step by carving out equity in your existing home, so kudos for that. Moving into a new place while converting the old one into a rental can absolutely jump-start your investing journey. From my experience, one key factor here is to run a thorough cash-flow analysis.. it’s not just about the mortgage payment, but also about unexpected exepnses like repairs and long-term capital improvements.

If you do decide to roll that equity into a multi-family, you’ll want to be clear on your target returns.. that way you can quickly spot a deal that’s actually profitable. As an investor-friendly agent based in New Jersey, I’ve seen folks leverage a strong network (like probate attorneys, local wholesalers, or even specialized divorce attorneys) to find properties that don’t always pop up in public listings. All channels can work.. it’s just that some work more often than others.

I’ve got a friend who tried a similar stroy a few years back.. she moved out of her condo and rented it to a family member, using the steady cash flow to secure financing on a duplex that had a ton of upside potential. Sometimes it’s the small steps that lead to the biggest leaps. By the way, from what i read in the street journal, the rental market in many regions is holding strong despite economic shifts, so that could play in your favor as you move forward.

What’s your gut feeling on the timeline for scaling up.. are you looking to ramp up quickly, or do you prefer a more measured approach?

Hey Jon, congratulations on such a huge milestone. Reflecting on that first purchase can be a real eye-opener.. it reminds me of when I first got into rental properties and felt like I was jumping into the unknown. You can crunch all the numbers you want, but sometimes it still takes that initial leap of faith.

It’s amazing to see how your townhome evolved from modest cash flow to what it’s pulling in now. The fact that you evaluated whether to sell or do a cash-out refi shows you’re playing a long game and keeping your options open. I’ve often found that a property’s best path forward isn’t always the most obvious.. sometimes letting go unlocks capital for the next wave of growth, sometimes holding tight after refinancing keeps that reliable monthly boost (from what I’ve heard).

I had a friend who snagged a multi-family in a similar price range about a decade ago.. at the time, it felt like a giant step. Fast-forward, and she’s used the equity to pick up two more invsetment properties. That’s the magic of real estate compounding over time, and it’s stories like yours that really highlight this.. from what i read in the street journal, that slow build often outperforms shorter-term stategies.

From an investor-friendly agent’s perspective, being willing to dig into the neighborhoods (driving for dollars) and having a robust network.. from probate attorneys to local contractors.. can pay off big. A thorough cash-flow analysis up front goes hand-in-hand with finding those hidden gems. All channels can work, but in my experience, the greatest oppportunities often pop up when you know exactly what your returns need to look like and keep your ear to the ground in your market. When you mentioned pulling out $110k, that’s the perfect snapshot of how equity can turn into future deals without selling outright.

So, if you were to rinse and repeat, would you still go for another rental thta’s already turnkey, or would you look for something you could add value to?

Hello Virginia!

You picked a great community to join.. have you checked out local comps to gauge the market vibe yet?

Hello Batyr!

Seeing your intro is a breath of fresh air.. what's your next step in building a strong investment network?

Welcome to BiggerPockets Jean-Pierre Njiky Djiodjip!

It's fantastic you decided to jump in.. have you mapped out your first property analysis yet?

Hello Marcus! Glad you made your way here.. are you eyeing long-term rentals or short-term flips?

Hello! my real estate business is really picking up and I am looking to hire a virtual assistant to help with my lead calls and follow ups. Anyone have a recommendation? 

Thank you! 

Hi Maxine,

Welcome to real estate and the BiggerPockets community! Your goals in multi-family rentals and flipping are inspiring, and it’s great to see your focus on building stability and freedom.

I’m also in NJ, and it’s always great to connect with others locally. If you ever want to share insights or chat, feel free to reach out. Wishing you success on your journey!