# From a $35K Salary to Owning 3 Rentals (Starting in 2024!) Source: https://www.youtube.com/watch?v=zIqWTl3jE0Q Recap page: https://rapidrecap.app/video/zIqWTl3jE0Q Generated: 2026-02-23T14:05:24.701+00:00 --- ## Quick Overview Flo Jacques successfully purchased and renovated three investment properties, including a duplex, within just two years, all while earning a $35,000 annual salary as a college admissions counselor, demonstrating that proactive action and leveraging creative financing are key to starting a real estate portfolio. **Key Points:** - Flo Jacques purchased her first investment property at age 22 while earning a $35,000 annual salary as a college admissions counselor. - Her first purchase was a $70,000 fixer-upper in a flood zone in Raleigh, North Carolina, which she acquired in 2021. - She utilized hard money and creative financing (100% financing with 2.99% origination fee) to acquire the properties, avoiding the need for large down payments. - The first single-family home required significant renovation, including tearing down walls and rebuilding the foundation, costing $130,000 in renovations. - She subsequently purchased a duplex, which she is currently renting out as an Airbnb while also keeping one unit for herself. - Flo is now focusing on building a portfolio of multi-family properties and teaching others how to invest through her education efforts. - Her core message is the importance of taking action and learning fast rather than waiting for the 'perfect moment' or six-figure income. ![Screenshot at 00:04: Flo Jacques showcases the three investment properties she acquired in just two years, including a duplex \(center\) and two single-family homes \(flanking\), despite having a low starting salary.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-00-04.jpg) **Context:** This video features an interview between Henry Washington, host of the BiggerPockets Real Estate Podcast, and investor Flo Jacques. Flo shares her inspiring journey of starting a real estate investment portfolio in North Carolina at a young age while working a modest-paying job as a college admissions counselor. The discussion centers on how she overcame initial challenges, such as purchasing a flood-zone property and managing extensive renovations, by leveraging creative financing and a strong mindset focused on immediate action. ## Detailed Analysis The interview highlights Flo Jacques' rapid success in real estate investing, starting at age 22 in 2021 with an annual salary of $35,000 as a college admissions counselor. She aggressively pursued real estate instead of waiting for the 'perfect moment' or a high income. Her first deal was a $70,000 fixer-upper in a flood zone in Raleigh, North Carolina. Despite the challenges, including having to fire three contractors and dealing with a low appraisal, she successfully navigated the process using hard money loans that covered 100% of the purchase and renovation costs (which ended up being $130,000). She learned the importance of aggressive education and networking through this first deal, where nearly everything that could go wrong did. Following this, she purchased a duplex, which she now rents out on Airbnb (using the single-family home as her primary residence initially). Flo's current portfolio includes four properties, and her goal is long-term cash flow through buy-and-hold, with plans to teach others how to build wealth through real estate. ### Investor Background - Flo Jacques started investing in 2021 at age 22 while working as a college admissions counselor earning $35K/year - Investing in North Carolina (Raleigh and Durham areas) - Current portfolio includes 4 properties. ### First Deal Details - Purchased a $70K fixer-upper in a flood zone; renovation budget was $130K (over budget); she financed 100% of the purchase and rehab. ### Financing Strategy - Used hard money lenders who offered 100% financing on purchase and rehab, even without prior experience, because she had the cash for closing costs and the deal structure was sound. ### Renovation Challenges - The first single-family home required major work, including foundation repair due to low ceilings (under 7 feet) and extensive material/labor costs, leading her to fire three contractors. ### Portfolio Growth - Acquired the single-family home and a duplex within a short timeframe (three months between deals); both properties are cash-flowing, with the duplex currently operating as an Airbnb. ### Lessons Learned & Future Goals - Learned to structure deals conservatively, not rely on MLS, and proactively seek information; now teaching others and aiming to build a multi-family portfolio. ![Screenshot at 00:04: Flo Jacques showcases the three investment properties she acquired in just two years, including a duplex \(center\) and two single-family homes \(flanking\), despite having a low starting salary.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-00-04.jpg) ![Screenshot at 00:40: Visual evidence of the severe condition of the first property's crawlspace, highlighting the extent of the necessary gut renovation.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-00-40.jpg) ![Screenshot at 00:57: The first purchased property, a single-family home in a flood zone, shown after initial exterior work.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-00-57.jpg) ![Screenshot at 05:06: The duplex property, which Flo purchased second, shown after its exterior renovation.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-05-06.jpg) ![Screenshot at 06:44: The interior of one of the renovated rental units, showing fresh paint, new flooring, and an updated kitchen area.](https://ss.rapidrecap.app/screens/zIqWTl3jE0Q/00-06-44.jpg)