New Investor in Dallas,TX

[Andrew Herrig]

Hello all, I have been lurking around here for several months and have made a post or two, but figured it was time to introduce myself. I have been learning a lot from the forum, blog, and the amazing new podcast.

I recently purchased an REO duplex where one side is already tenant-occupied and the other needs quite a bit of work. I am definitely learning how to build my team of contractors/realtor/etc, and getting my feet wet in landlording.

I currently hold a full-time job, but would really like to transition out of the corporate world in the next 5 years or so. I am hoping to make my next purchase a rehab so I can try the fix and flip side of the business. I am very interested in specializing in the older, historic homes in different pockets of Dallas, but I feel like I need to get experience in some lower value homes first before jumping in. I'm currently researching my financing options for flips. I hope to eventually establish a modest pipeline of rehabs and use some of the profits to buy rental properties for long term cashflow.

I would love to hear from the contingent of DFW members out there, hear your stories and what strategies have (and have not) worked for you!