All Forum Posts by: Jonny Reck

Hey Sam - welcome! Most of us here wouldn’t be who we are today if we hadn’t made mistakes at some point. Are you working on a specific deal? I’m in the area too.

Welcome! Best time to start is today. What are you doing to get started?

What’s your anticipated hold period? That makes a big difference. When I lived in Dallas I had a lot of friends who sought in 2009/2010 - by say 2012/13 they saw decent gains but now in 2024 they’re so glad they did. Time is your best friend with real estate. Some recent articles are saying DFW will be as large as NYC by the end of the century - is that long enough for you? lol, kidding

Keep us posted 

The pickleball court would be the lowest cost but on a hot day people want a nice pool. But just remove the maintenance factor is no joke.

Hey Miles - great post. You’re in an enviable position having valuable of time ahead of you. Decisions you make now will have compounding effects on your future. Some would pay billions to have the time you have.

I would lean heavily into the marketing experience you’re developing. It’s taken me a while to learn this but sales is everything. Every job will requires some kind of sales:  you’re convincing others to use your product or service, that your idea/position is right etc.  Learning sales skills now will be a huge resource for you later.

Network. Be proactive in putting yourself out there. It doesn’t need to be an investor group. It could be groups in some kind of connection with your church. Get yourself out there and start making your name known to others - develop a personal brand.

Identify someone you want to be like - someone you admire and respect - and see if they’re a person who can impart their experience and wisdom to you. You don’t need to pay for this. I’ve had a mentor who was happy to share his learnings and experience with me because I genuinely took interest in his opinions and respected his guidance (and I never asked him for money!).  A good mentor should want to share their learnings (versus sell them) - if you can find this, it could be your fastest way toward enhancing yourself.

I don’t want to give particular input on your financial piece. What I’ll share is what I would do:  I wouldn't spend it. I would save it. Right now is a time to develop skills that create money later. Those skills are acquired through people imparting knowledge that can be implemented into practice. For real estate, this might mean getting your license and learning how to sell (fyi - getting a license does involve costs); breaking deals down for others at no cost; assisting brokers or property managers: finding other ways to offer people valuable services.

I really wish you the best. Pursue the path of wisdom. Avoid folly. Always look up.

- Jonny

A tenant in my chicago duplex left with no notice with 2 months remaining on the lease. She did send in the keys and moved everything out. Unit is in good condition. It could be worse, but I am left with an unexpected vacancy. Unsure at this point if rent came in from CHA from August since I dumped my prior property manager. What would you do?