Starting out from Dallas, TX

[Farhan Anwar]

Hi BP Members, 

I am starting out in the realestate investing business after a long delay, joined BP 3 years ago but didn't take out enough time to focus due to job, transition, travel, kids etc. My Long Term Goal is to replace my existing income in 5 years time with RE Investing Business. I am finding RE Investing fun to learn and talk about in my circle. My Short Term (2Y) Goal is to strategically invest, buy and hold properties with positive cashflow. I have decided to start with turnkey rentals and learn my way up to other strategies focusing on buy & hold. I want to avoid Fixer-Uppers, Distressed and Foreclosure Properties for now.

I'll be starting out from the market where i live such as denton, dallas and tarrant counties so that its easier for me to visit and work on them, and later on expand to TN, MO and FL. I will be looking initially with Single Family Homes and Duplex Units of less than 5. I'll primarily leverage from DSCR Loans for Buying and Personal Cash for downpayments & closing costs to create a portfolio that starts generating cashflow.

Please advice if this is a good strategy? if you think it can be improved. Appreciate your feedback in advance!