What if you could start investing in real estate—even if you didn’t have everything figured out? For many, this might sound intimidating or even impossible, but Mandy Konecki’s journey proves otherwise. On a recent episode of “Raising Private Money,” Mandy sat down with Jay Conner to share how she stumbled into real estate in 2017 with zero experience, and how the power of connection and community changed everything for her and her husband.
Starting Without All the Answers
Imagine buying your first investment property without ever seeing it in person. That’s exactly how Mandy jumped in, inspired by her husband Keith’s dream to flip houses and stay rooted in Jacksonville, Florida. “I didn’t see it. You said you wanted to stay in Florida and work on a house project, so I bought one,” Mandy recalled. It wasn’t a polished business plan—it was action, uncertainty, and a willingness to learn on the fly.
In those early days, Mandy worked a W-2 job to keep some stability while Keith leaped into entrepreneurship. It took a handful of deals before she realized the real magic wasn’t just about building a real estate portfolio—it was about building freedom and designing a life on their own terms.
Serving Others Through Creative Solutions
So how did Mandy and Keith find success where so many get stuck? According to Mandy, it was their refusal to take “no” for an answer and their commitment to helping others. “If I look at something and someone might say, ‘Oh, that doesn’t work because it won’t cash flow as a long-term rental,’ there’s always going to be a way to make it work,” Mandy shared.
Many of the property owners Mandy works with don’t have significant equity in their homes—a common hurdle. Instead of walking away, Mandy approaches each deal with creativity and empathy. Her favorite strategy? Buying properties “subject to” the existing mortgage. This allows her to take ownership while keeping the original debt in place—no new bank loan, no massive down payment.
From there, Mandy deploys a variety of exit strategies: lease options, long-term rentals, city-backed affordable housing, and even room rentals. The key is flexibility; by keeping multiple options open, she can tailor deals to fit both the seller’s needs and her own investment goals.
The Game-Changer: Other People’s Money
For many aspiring investors, the greatest hurdle isn’t finding deals—it’s finding the money. Mandy admitted she once believed that asking for help or partnering with others was a sign of weakness. But when she discovered OPM—other people’s money—her real estate business transformed overnight. “There are so many people wanting to get into real estate, but they don’t have the tools, the time, or the know-how. But they have money sitting in the bank making less than 1%,” she explained. By connecting with these individuals, Mandy helped them grow their wealth while funding her own deals—a true win-win.
Access to Private Money allowed Mandy and Keith to scale beyond their own means. Instead of being limited to one project at a time, waiting for each flip to free up cash, they now juggle multiple deals simultaneously, partnering with both lenders and equity-sharing partners.
The Power of Community
Mandy is adamant that real estate is a team sport. “You are not going to learn by reading a million books. You eventually just have to put your feet in and figure it out because that is the best way to learn—do the thing,” she emphasized. Her advice for anyone looking to get started? Plug into your local investor community, find a way to provide value, and start building relationships.
Failures and mistakes, what Mandy calls “tuition,” are inevitable—but they’re also what build true expertise and resilience. Whether you have money, skills, connections, or just the drive to learn, there’s a place for you, and a community ready to support your journey.
Final Thoughts
Mandy Konecki’s story is a testament to taking imperfect action, serving others, and embracing the power of connection. In real estate—and in life—freedom and opportunity often come from stepping out before you feel ready, and building a tribe along the way. If you’re waiting for the perfect moment or the perfect plan, Mandy’s journey is your invitation to start now, connect deeply, and create your own opportunities.
10 Discussion Questions from this Episode
- What motivated Mandy Konecki to initially get into real estate investing despite having no prior experience?
- How did Mandy and her husband Keith use real estate as a path to achieving freedom from their W-2 jobs?
- What role did community and networking play in Mandy and Keith’s learning and growth as real estate investors?
- How does Mandy approach properties with little to no equity, and what creative strategies does she use to make such deals work?
- Mandy mentions using “multiple exit strategies” for real estate deals. What are some examples she provides, and why are they important?
- What mindset shifts did Mandy experience regarding raising and using Private Money (OPM), and how did it change her approach to real estate investing?
- How has access to Private Money allowed Mandy to pursue larger or different kinds of deals compared to when she used only her own capital?
- What advice does Mandy give to someone who wants to get started in real estate but feels limited by lack of money, credit, or experience?
- Mandy talks about mistakes being “tuition.” What was one of her major early mistakes, and what did she learn from it?
- For those hesitant to start investing in real estate, what practical steps does Mandy recommend they take in the next 30 days to move forward?
Fun facts that were revealed in the episode:
- Jumped in Without Seeing the First Property: Mandy Konecki bought her first house for flipping sight unseen, just because her husband mentioned wanting to try real estate in Florida. She only discovered what she’d purchased when her husband checked it out and asked, “What were you thinking when you bought this thing?”
- Scaled From One Flip Per Year to Nine Simultaneous Projects: Initially, Mandy and her husband could only handle one real estate project at a time using their own funds. Once they embraced raising Private Money and creative financing, they scaled dramatically and were able to run nine projects at once—with no personal capital invested.
- “Tuition” Through Mistakes: Mandy calls the costly lessons they learned in real estate their “tuition.” One notable early error: she purchased a subject-to property from a friend without due diligence, only to discover surprise assignment fees, months of mortgage arrears, and an HOA that restricted her intended rental strategies—ultimately leading her to sell the property at a loss, but with invaluable experience gained.
Timestamps:
00:00 Mandy’s real estate journey
05:57 Finding solutions in real estate challenges
09:08 Subject-to and wrap mortgage strategy
11:38 Room rentals and affordable housing
15:23 Expanding real estate investment opportunities
17:47 Scaling up property investments
22:55 Using stories to build trust
24:56 Real estate investment challenges
27:33 Connect with Mandy Konecki
https://www.skool.com/real-estate-reimagined-8674/about
https://www.reilifestyle.com
28:24 Sharing Mandy’s insights on wealth
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