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!

[Sloane Kraftsow]

This all sounds amazing Farhan! Welcome to the BP community! This site is an incredible platform that has numerous resources so definitely take advantage of it all. I'd love to get you started with your first rental property.

Would love to connect.