REI Newbie introduction.

[Lola Acosta]

Hello BP! We are a young-ish couple with a small family looking to start investing in Real Estate. He is a SAHD and I am a nurse who has worked a LOT this year due to the Pandemic and now have a sizeable? amount in savings that I would like to put to work for us. I recently and surprisingly discovered that I have a passion for real estate and would like to turn that into a wealth building strategy. The goal is to replace my nursing income and eventually exit the Healthcare Industry. 

My only experience with RE so far was the purchase of our primary residence in the Forney, TX area (which seems to be exploding) back in 2011. I would really like to look at owner occupied MFs for our first property to live in and rent out the other units while we complete renovations on our primary residence to eventually rent out as well. Does this seem like a good strategy? What are some good VERY FIRST steps to take?

I have recently reached out to some RE agents to begin looking at properties in the DFW area. So far from my search, the market for MFs seems to be very competitive. Should we maybe not focus solely on MFs at this beginning point? Is it wiser to be more open to other types of properties in the beginning? 

Any input, experience with MFs/DFW MF market, words of encouragement/caution (I'm sure that there are a lot of things I don't even know that I don't know yet), things to look out for or do differently very much welcomed. Currently taking a RE PreLicensing course to learn as much as possible. I'm so excited to get started on this journey and to get our first (second?) property under our belts!