May 1st. 2014 - First post.

So..... Today is kind of the first day to the rest of my life you could say. I am finally taking the step to meet with a wholesaler and discuss what type of properties he has available and tell him what I am looking for in REI. My goal is to establish a connection with a reputable wholesaler in the DFW area that I can trust to send me properties that are investment quality.

I am looking for both flips and long term holds. So, hopefully he will be able to provide me with properties that fit my criteria.

Just so you know and maybe this will help keep me accountable is for this first year by goals are to purchase 4 rentals and 4 flips. Now, given that we are already into May this 1st year goal time period will extend to May 1st of 2015. I would like to keep my rentals at a price point between $35,000 - $100,000. This is a good price point for rentals and if I needed capital it would be easy to sell one of these homes. For my flips I would be willing to go up to a purchase price of $250,000.

I know the standard formula on BP is 70% minus cost for properties but DFW is a hot market and I hear wholesalers are raising their margins so it should be interesting to see what this guy considers wholesale.

My goal for this blog is to hopefully document on a daily basis (or close to) the journey I am about to take from never having purchased an investment property to hopefully becoming a full time real estate investor.

Maybe this blog can help some other individuals who are thinking about making the leap into REI and either provide them with encouragement or at least give them a general road map of what I have done and how they to can become a real estate investor.