New to real estate ...please be kind. Thank you

[Sheetal Patel]

Hello everyone 

I have worked very hard to finally post in a forum like this that i am ready to make my first investment in a rental property. 

i have excellent credit score and am based out of DFW area in Texas. Given the current housing market situation, can you please recommend an area / zip code to look for investment properties? I dont mind if they are outside the DFW area for single family homes /duplex. 

Thank you for your time today .

[Richard Smith]

No need to pay a fee.  Find someone who is an investor, wholesaler or a real estate agent that would be willing to walk you through some deals and buy them lunch or coffee on a regular basis.  Force yourself to do a number of deals on paper before making an offer.  ALWAYS hope for the best but plan for the worst.  Get proficient at accounting software.  Learn journal entries.  Learn how to calculate and auto post depreciation.  Get your line of credit lined up.  Get with a local bank, not a big bank.  If possible sell the house before you buy it. Always have an exit strategy.  A seasoned mentor will guide you.  Where to find a mentor?  Go work for a wholesaler for free for 60 days.  Then, ask him to put a deal together for you.  Owning investment property is hard work.  It gets harder when yo do not know what you are doing.  Be humble and always be willing to learn.