Newbie from Grand Prairie, TX

[Russell Moran]

My name is Russell Moran; I’m a newbie from Grand Prairie, Texas. I currently own my own home and that is the extent of my real estate background. I have owned for 10 years. I am self-employed and own 2 businesses. I own an insurance agency that my wife and cousin run and I own a life insurance and retirement agency that I run. I have a business bankruptcy on my credit report that started in November 2009 and discharged in February 2010. I believe this will hinder me in my real estate investment goals. My goals are to buy local properties both residential and commercial. I would like to have them maintained by property managers. My mid-term goal is to own the buildings that I have my insurance agencies in. Long term is to own multiple commercial properties all over the metroplex. At this point in my life I pay heft taxes annually and was lead to believe depreciation in real estate could help me alleviate a lot of my tax burdens. I joined BiggerPockets to get put on the right path. Any recommendations would be appreciated.