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Updated 3 days ago on . Most recent reply

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Joshua Baker
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Need Help Narrowing Down Options on investing $55k-$60k in South DFW

Joshua Baker
Posted

Hey all, thanks for taking the time to read my post. I'm looking for advice on how to launch my adventure into RE as a beginner in the south DFW area.
- Single, late 20s, living with parents, WFH, so living expenses are basically minimal as possible. 
- Making ~75k-85k/yr depending on bonuses
- Currently have $55k-$65k available to put towards RE

Current thoughts:
- Parents have done long term rentals for over a decade but haven't acquired properties for the purpose of renting and the "family business" hasn't grown. So I have handyman skills and the ability to do medium renovations. Now I want to learn how to make a business that grows so I'm looking specifically for profitable properties.
- Because I can do repairs on my own, I'm looking for things that are within my driving radius. I also read a book that talked about investing in your community and I love that idea. I could totally buy properties that are outside of DFW (like Austin or San Antonio), but I don't know those markets as well and haven't used a property manager before so that would also be new.
- I have enough to put a comfortable down payment on SFH, and maybe house hack a duplex? Or maybe barely put 20% on a duplex and call it at that? Not sure

Goals:
- I'd love to get into a position where I can work with hospitals to do travel nursing contracts or contracts with insurance companies to place distressed families into housing while their living situation is fixed/repaired.
- I'd love to invest in the DFW area because it's what I know, but I also know that while there are lots of opportunities, there is a lot of competition and may not be realistic 

Thanks for your time and thoughts
 
 

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