Hello from DFW - instant landlord looking to grow!

[Justin Dominguez]

Hello!

TL/DR: I inherited properties and found that I love learning about real estate. I’m starting slow in this crazy hot DFW market but I’ll be out there with you guys soon!

So I became an instant landlord last year when my mother passed away unexpectedly. I inherited 4 properties and had the option to sell, but instinctively knew I wanted to keep them and go full steam down the real estate path.

Currently two properties (1 residential and 1 small commercial) are leased with property managers running things. I’m working on getting my mother’s house ready to rent, and am undecided on what to do with the 4th property (a small lake house in need of some serious rehab). Between working full time and a family with three kids, I’m taking it one day at a time.

Right now the market is red hot in DFW and I think that’s a good thing - it gives me time to learn as much as I can with what I have and prepare myself to be ready for opportunities as they come along. My short term goals are to build capital, ensure I have the right property managers for me in place, and to start sending letters to property owners in my area. The long term goal is to purchase a few more properties throughout the next few years so that within 15 years, as I approach 50, I’ll have a choice on whether or not to keep working the traditional job.

I’ve been lurking for months on the forums, listening to the podcasts, and adding books to my library. Real estate is fascinating and I find it to light a certain fire inside that I haven’t felt in a while. I work on an ambulance with a 24 on/48 off schedule, so I have plenty of time to devote to it.

The passing of my mother (she was only 54) has changed my perspective on life. She worked so hard to get to a point where she could be financially free and enjoy her future retirement, only to have it cut short. While it obviously comes with mixed emotions, I cannot begin to express the amount of gratitude and humility I feel in being able to continue what she and those who came before her started. I’m starting slow and learning steady, but trust me when I say you’ll see me out there with all of you soon!

Thanks for everything you all have given me so far; I hope to one day be able to return the favors and pass it on.. Heck maybe one day I’ll be invited to be a guest on someone’s podcast :)

-Justin Dominguez