Hello from Dallas, TX

[Harry M.]

Hi Everyone! Just wanted to introduce myself. I've been reading this forum for about a week now - what a treasure trove of info!

My wife and I are newcomers to the business. We are in the process of buying our first property, a duplex, right now. We are fairly far along - we have an accepted offer, positive inspection, financing. Barring the appraisal coming in lower than expected, or some major surprise, we close mid July.

Our strategy for now is to buy and hold and our initial goal is to build up a small portfolio of properties, 5-10, over the next five years or so. Along the way, we'll be evaluating other options as we learn more, and adjusting the plan accordingly. As we learn more about what to look for, we may start introducing a rehab component. The longer term goal is to generate enough income to ditch the day job, and the motivation for that is to spend more time with my family (though I am under no illusions that what we are getting into will not require work!)

Why did we choose real estate to invest in? We want an investment that we can do more to influence the success of, through educating ourselves, and trying to make the right choices. Stocks and such have always felt like throwing money into a black box and hoping for the best.