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Episode 165: From Chicago Househacker, to Out of State Investor, to Leaving Her W2 Job with Kory Dieter

By Mark Ainley

Kory Dieter is a Chicago-based is a house hacker and professional out of state investor with a portfolio mix that includes SFRs and small multi-families across 5 markets. In today’s episode Kory shares with us how she started her real estate journey with a house hack in Andersonville to how she was able to leave behind her W2 job. Along the way she’s dabbled in a variety of investing strategies, including house hacking, medium term rentals, BRRRR, and 1031 exchanges, with no signs of stopping now!

This episode is full of nuggets on deal acquisition and things to keep in mind when looking for your next investment, whether it’s in Chicago or a different market!

If you enjoy today’s episode, please leave us a review and share with someone who may also find value in this content!

03:30 House Provider Tip: Be Ready To Address Issues When Tenants First Move In

05:40 Intro to our guest, Kory Dieter!

06:45 Starting with a househack in Andersonville

12:15 The importance of knowing the neighborhood

21:15 Out of State Real Estate Investors Must Have Mindset

25:50 Pro Forma Vs Actual Is Usually Different in Real Estate Investing

27:57 Scaling As A House Hacker

30:58 How To Prepare Your Portfolio For the Future

34:01 Challenges Faced Transitioning From a W2 To Self Employed Real Estate Investor

42:39 What is Kory’s competitive advantage? 

43:15 One piece of advice for new investors.

53:25 What do you do for fun?

43:42 Good book, podcast, or self development activity that you would recommend? 

45:02 Local Network Recommendation?

45:53 How can the listeners learn more about you and provide value to you?

That’s our show! Thanks for listening!

Thank you so much for listening. As always, we’re here to  help YOU. If you want to make the most of your investment, connect with us at https://www.gcrealtyinc.com/

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Guest Name: Kory Dieter

Other Links for show notes:

http://www.naiopchicago.org/ 

https://www.gcrealtyinc.com/brrrr-investment-strategy-must-knows

https://www.gcrealtyinc.com/blog/house-hacking-101-in-chicago

https://www.straightupchicagoinvestor.com/house-hacking-calculator

https://www.straightupchicagoinvestor.com/podcast/episode-43-househacking-scaling-and-large-multifamily-deals-with-one-of-chicagos-best-power-couples 

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Author

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Mark Ainley
Investor, Managing Broker, and Property Manager
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased...
Price is what you pay, Value is what you get! I want to provide value to others and make some money along the way. I have a solid foundation in Chicago real estate because I am a Real Estate investor in both Residential and Commercial/Industrial markets while being a founding partner at GC Realty & Development LLC and co-host of Straight Up Chicago Investor Podcast. In the last 20 years we renovated 500+ properties, invested in commercial properties, managed over 7000 units/tenants, leased over 4,000 properties, featured on CNBC’s TV show The Deed, co-host on Chicago's AM560 Real Estate Revealed Radio Show, and invited to speak & sit on panels at numerous investment summits across the country. I have also been blessed with the opportunity to be a guest on over 30 top podcast platforms. GC Realty & Development, LLC, currently manages over 1,200 investment properties throughout the Chicagoland area. In 2019, 2020, 2020 and 2022, GCR&D was featured on the Inc. Magazine list of top 5,000 fastest growing companies in the United States. I take great pride in providing valued feedback to beginners and less experienced entrepreneurs on what steps not to take or what steps to take sooner in growing a younger business.
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