"I never thought I'd buy a house as a single 32-year-old woman - or that I would become a landlord. When I lived in high-cost cities like San Francisco and New York, I felt like homeownership would remain out of reach until later in life, when I had started a family. As the child of immigrants, I didn't see many examples of investment property ownership."
"Everything shifted in 2020 when I moved home to Louisville, Kentucky, to ride out the pandemic. It was more affordable than my prior home in Philadelphia, so after living with my parents for about a year, I started to look for a condominium to purchase and move into - but the most exciting properties were historic Victorian houses, which felt too large for me. After looking for about a year, someone suggested that I buy a Victorian home as a rental property."
"The first property I purchased was not the vision I had of home ownership. There was a hole in the roof, the plaster was falling off, and it required new electrical and plumbing work. However, I was able to get the property at a discount because of the condition: the 2,200-square-foot house only cost $152,500. Plus, my mom saw the potential in the house and pushed me to put in the offer, s"
Ilona Limonta-Volkova moved back to Louisville in 2020 and found housing more affordable than in San Francisco, New York, or Philadelphia. After living with her parents, she searched for a condominium but became interested in historic Victorian houses that felt too large to occupy. A suggestion to buy a Victorian as a rental connected her with local landlords and revealed a feasible path to property ownership. She purchased a distressed 2,200-square-foot house for $152,500 that needed roof, plaster, electrical, and plumbing work. She navigated financing, tenant management, and periods of doubt by asking for help and learning on the job.
Read at Business Insider
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