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lona Limonta‑Volkova became a landlord at 32, buying her first rental in Louisville after the pandemic pushed her back home from Philadelphia. The 2,200‑sq‑ft Victorian she chose had a leaking roof, peeling plaster, and outdated plumbing and electrical systems, but she snagged it for $152,500 because of its condition. Her mother saw the potential and offered to help with renovations, a crucial support while Ilona was relocating to Los Angeles for a new job and had to oversee the work remotely.

    When her real‑estate agent told her the property wouldn’t qualify for conventional financing, Ilona sought a construction loan that covered the $100,000 needed for repairs. Once the house was in good shape, she secured a traditional mortgage. While renovating, she discovered a demand for short‑term housing from travel nurses and used Furnished Finder to fill the unit in October 2022.

    Ilona’s savings strategy—keeping rent low, avoiding vacations, and funneling bonuses into a reserve—enabled her to purchase a second property two years later. The duplex, bought for $202,000, required about $40,000 in renovations, but historic tax credits helped offset the cost. She rents both units to year‑long tenants, maintaining a positive cash flow by accounting for mortgage, insurance, taxes, utilities, and a maintenance buffer. Her spreadsheet‑based approach lets her set rents that cover expenses while remaining competitive; early tenants’ feedback helped her adjust rates upward.

    Over time, her rental income has allowed her to live in more expensive areas while still investing in real estate. Ilona plans to own a primary home eventually, but she’s satisfied with the wealth‑building path she’s forged as a landlord, providing comfortable homes and learning the intricacies of property management along the way.