{"id":21288,"date":"2026-08-10T15:41:48","date_gmt":"2026-08-10T15:41:48","guid":{"rendered":"https:\/\/imsfund.com\/?p=21288"},"modified":"2026-08-10T15:41:48","modified_gmt":"2026-08-10T15:41:48","slug":"from-a-35k-salary-to-three-properties-in-two-years-how-flo-jacque-built-her-portfolio","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2026\/08\/10\/from-a-35k-salary-to-three-properties-in-two-years-how-flo-jacque-built-her-portfolio\/","title":{"rendered":"From a $35K Salary to Three Properties in Two Years: How Flo Jacque Built Her Portfolio"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div id=\"post-content\" :class=\"{ 'hidden': $store.proContent.showFullPrompt() }\">\n                            <!-- Table of contents: mobile --><\/p>\n<section class=\"px-4 relative border border-slate-200 mobile-toc lg:hidden\" x-data=\"{open:false}\">\n                    <button x-on:click=\"open = !open\" class=\"flex items-center gap-4 my-2 border-none w-full\"><br \/>\n                        <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"h-6 w-6\" fill=\"none\" viewbox=\"0 0 24 24\" stroke=\"currentColor\" stroke-width=\"2\"><path stroke-linecap=\"round\" stroke-linejoin=\"round\" d=\"M4 8h16M4 16h16\"\/><\/svg><\/p>\n<p class=\"font-semibold text-slate-800 text-base m-0 js-toc-ignore\">In This Article<\/p>\n<p>                    <\/button><\/p>\n<\/section>\n<table>\n<thead>\n<tr>\n<th>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Name<\/span><\/p>\n<\/th>\n<th>\n<p style=\"text-align: left;\"><span style=\"font-weight: 400;\">Flo Jacques<\/span><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td><span style=\"font-weight: 400;\">Location<\/span><\/td>\n<td><span style=\"font-weight: 400;\">North Carolina (Raleigh-Durham area)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Occupation<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Full-time real estate broker and investor (former college admissions counselor)<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Assets<\/span><\/td>\n<td><span style=\"font-weight: 400;\">Four properties, including a primary residence, a single-family rental, a duplex, and a flip in progress<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Investment strategy<\/span><\/td>\n<td><span style=\"font-weight: 400;\">BRRRR, midterm\/Airbnb rentals, flipping, off-market and MLS package deals<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Financing<\/span><\/td>\n<td><span style=\"font-weight: 400;\">100% hard money financing (purchase + rehab, up to 70%\u201375% ARV)<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>\u00a0<\/p>\n<p><em><span data-preserver-spaces=\"true\">Flo Jacques bought her first home at 22 on a $35,000 salary as a college admissions counselor, simply because she\u2019d saved $15,000 and wondered if buying made more sense than renting. It took her three more years of getting licensed, networking, and learning before she felt ready to buy an investment property.<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><em><span data-preserver-spaces=\"true\">When she finally moved, she moved fast: a roach-infested single-family flood-zone rehab, followed a month later by a six-figure duplex renovation, followed by an off-market flip with a ceiling that didn\u2019t meet code. Two years in, she\u2019s built a four-property portfolio using 100% financing and has her sights set on real estate development.<\/span><\/em><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><em><span data-preserver-spaces=\"true\">Here\u2019s how she built it.<\/span><\/em><\/p>\n<h2><span data-preserver-spaces=\"true\">You went three years between buying your primary home and your first investment property. What finally pushed you to act?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">I <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/get-your-real-estate-license\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">got my real estate license<\/span><\/a><span data-preserver-spaces=\"true\"> first to learn the business while I built up funds, since college admissions doesn\u2019t pay much. I joined professional organizations and started attending investor-focused sessions, and by 2024, I knew I wanted to build a portfolio instead of working until I died.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">I found my first deal almost by accident: I was helping an investor client evaluate a 19-property portfolio a retiring investor was selling near Rocky Mount, North Carolina. While sending her the list, I decided to make offers on one or two properties myself.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">I went under contract for $90,000 but closed at $70,000 after discovering the property was in an undisclosed flood zone. I moved forward anyway, since the price was still right.<\/span><\/p>\n<div class=\"justify-center \" x-data=\"{ IabAdad_block_: popAd(['r720x90'], '1') }\" :class=\"IabAdad_block_.linkURL ? 'flex pt-8' : 'hidden'\">\n    <a x-show=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.linkURL\" :href=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.linkURL\" x-on:click=\"adClicked('https:\/\/www.biggerpockets.com\/blog\/deal-diary-flo-jacque', IabAdad_block_.sponsor, IabAdad_block_.title, IabAdad_block_.id, 'blockAdClicked', 'blockAd', 'postContent')\" target=\"_blank\" x-init=\"adLoaded('https:\/\/www.biggerpockets.com\/blog\/deal-diary-flo-jacque', IabAdad_block_.sponsor, IabAdad_block_.title, IabAdad_block_.id, 'postContent')\" x-intersect:enter.once=\"adViewed('https:\/\/www.biggerpockets.com\/blog\/deal-diary-flo-jacque', IabAdad_block_.sponsor, IabAdad_block_.title, IabAdad_block_.id, 'blockAdViewed', 'blockAd', 'postContent')\"><\/p>\n<div class=\" hidden sm:block\">\n        <img class=\"m-0\" :src=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.r720x90\" :alt=\"IabAdad_block_.r720x90Alt\" loading=\"lazy\" fetchpriority=\"low\"\/>\n      <\/div>\n<div class=\"block sm:hidden\">\n          <img class=\"m-0\" :src=\"https:\/\/www.biggerpockets.com\/blog\/IabAdad_block_.r320x50\" :alt=\"IabAdad_block_.r320x50Alt\" loading=\"lazy\" fetchpriority=\"low\"\/>\n        <\/div>\n<p>          <\/a>\n  <\/div>\n<h2><span data-preserver-spaces=\"true\">That first deal turned into a full gut renovation. How did the financing and the actual rehab go?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">I found a hard money lender with no experience requirement, which is rare. They financed 100% of both the purchase and the rehab, as long as the total stayed under 70% to 75% of the after-repair value. All I had to cover were origination fees and closing costs.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The renovation itself was brutal: We had to rebuild the entire foundation, and I went through three different contractors. The first didn\u2019t have the crew for the scope, the second got greedy with pricing, and the third finished the job.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The rehab budget started at $75,000 and ran over. When I went to refinance, the appraisal actually came in $26,000 lower than expected because the underwriter questioned my <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/real-estate-comps\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">comps<\/span><\/a><span data-preserver-spaces=\"true\"> in a market with limited recent sales. That property is currently rented to a group home tenant for $1,595 a month.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">A month after that first deal, you bought a $287,000 duplex in downtown Durham. How did that one perform?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Same hard money lender, same 100% financing structure. That renovation was supposed to be $65,000 but came in closer to $130,000, since I also furnished it to run as a midterm and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/guides\/the-ultimate-guide-to-short-term-rental-properties\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">short-term rental<\/span><\/a><span data-preserver-spaces=\"true\">. <\/span><span data-preserver-spaces=\"true\">I wasn\u2019t checking in on the property regularly during construction, which I now consider a mistake; I was mostly <\/span><span data-preserver-spaces=\"true\">just<\/span><span data-preserver-spaces=\"true\"> wiring money based on photos contractors sent me.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Once finished, it appraised at $462,500, and I pulled cash out of the refinance to help recover from going over budget on both projects. It now <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/rental-property-cash-flow-analysis\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">cash flows<\/span><\/a><span data-preserver-spaces=\"true\"> between $800 and $1,000 a month on Airbnb and VRBO.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Your most recent deal was your first off-market find, and it had a defect most investors were avoiding. Walk us through it.<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">I found it on an off-market wholesaler platform after attending a private money lending conference that got me back in the game. The property had ceilings under seven feet, which doesn\u2019t meet Raleigh\u2019s code minimum, so a lot of investors were passing on it.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">I saw that as an opportunity to negotiate. I bought it for $120,000, and the <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/estimate-arv\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">ARV<\/span><\/a><span data-preserver-spaces=\"true\"> is a conservative $337,000. This time, since I\u2019m now a full-time investor with more time for <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/due-diligence-ultimate-guide\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">due diligence<\/span><\/a><span data-preserver-spaces=\"true\">, I structured it more conservatively at 65% of ARV, built in a real contingency budget<\/span><span data-preserver-spaces=\"true\">, and even started<\/span><span data-preserver-spaces=\"true\"> paying myself for my own time managing the project. We\u2019re currently raising the roofline to get the ceilings to code.<\/span><\/p>\n<aside class=\"my-10 xl:my-4\">\n<p class=\"font-bold mt-0 mb-4 text-xl text-slate capitalize\">You might also like<\/p>\n<\/aside>\n<h2><span data-preserver-spaces=\"true\">What\u2019s the biggest lesson you\u2019d pass on to someone considering this same sub-$100K, heavy-rehab strategy?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Structure your deals more conservatively than you think you need to, especially in cheaper, high-renter markets where there aren\u2019t many comparable sales to support a high post-renovation appraisal.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">On my first deal, I underwrote at 75% ARV and got burned when the underwriter pushed back on my comps. I also learned to budget in contingencies and to pay myself for the time I put into managing a renovation, not just materials and labor.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Beyond that, don\u2019t be afraid to move on properties other people are passing on, whether <\/span><span data-preserver-spaces=\"true\">that\u2019s<\/span><span data-preserver-spaces=\"true\"> a flood zone or a code issue, as long as you can put a real dollar amount on <\/span><span data-preserver-spaces=\"true\">what it costs<\/span><span data-preserver-spaces=\"true\"> to fix.<\/span><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.biggerpockets.com\/blog\/deal-diary-flo-jacque\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In This Article Name Flo Jacques Location North Carolina (Raleigh-Durham area) Occupation Full-time real estate broker and investor (former college admissions counselor) Assets Four properties, including a primary residence, a single-family rental, a duplex, and a flip in progress Investment strategy BRRRR, midterm\/Airbnb rentals, flipping, off-market and MLS package deals Financing 100% hard money financing [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center 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