New Investor Tips

[Josh Deever]

Hey everyone, I recently moved to Dallas a month ago to start my career in wealth management as a client associate, working 40 hr weeks, with an above average salary. I just turned 22 and want to purchase my first rental property within the next two years. More than likely, it would end up being a house hack somewhere in the 300-375k range. I’d like to have about 25k for a down payment and I currently have 15k saved up already in a high yield savings account. My strategy would also be going for more price appreciation than cash flow. Ideally, I’d prefer to invest in my hometown, Tyler, TX, about 2 hrs from Dallas, because I’m more familiar with the best areas to invest in and real estate is much cheaper than DFW. To my knowledge though, I would need a 20% down payment in order to avoid having to live in the property. I have a couple questions,

1. What are the best and safest areas to invest in that are relatively close to Dallas? I.E Midlothian, Cedar Hill, Grand Prairie etc.?

2. Are there any ways for me to achieve buying a property in Tyler? I.E. private money, seller financing etc.?

3. What would be some good side hustles that could generate extra monthly income to hit my goals faster or sooner along with the 9-5?

I’m sorry if I asked too many questions in this post, these are just the three biggest ones on my mind right now that relate to house hacking and real estate mindset?  If there’s anything that needs clarification I’m more than willing to help. Thank you for the responses in advance?