I am 34 years old living in the Dallas-Fort Worth Area.
I spent 10 years US Army followed by 5 years business in Indonesia, now back in Texas with my eyes set on my first VA Mortgage Loan - this has to be my first investment property.
I am anticipating prices to drop significantly in a year. Meanwhile I drive Uber to find properties wholesaling, learn about the city, lower my expenses, and increase network.
I am working on my Real Estate License as well and expecting to receive my license in February.
I have 1 year+ to - build capital, establish network, master my niche, find my property and expected to make first purchase in February 2023.
During my Uber drive, I have made contact with over 35 business owners, agents, brokers, investors, loan officers, etc in 6 weeks. All interested to see my ambitious progress.
That's all. Any advice and guidance is appreciated.
@Yen Chian tan Thank you for your service. A great benefit is that VA loan! I highly recommend trying to buy a 2-4 unit property using your VA loan and then rent out the other units to pay your mortgage and hopefully make some positive cash flow at the same time!
Thank you for your service! Stuart gave excellent advice which is a great way to house hack a multi fam property.
You are 30-40 steps ahead of most who start out here as you have already been getting paid to drive for dollars! Genius. Keep up the good work building your team and seller prospects. Note every old rundown house you drive by, look up owner and start mailing and/or (or both) door knocking (once your team is fully built).
Thank you everyone! Yes In process of doing this. DFW is getting harder to find deals but will keep searching!
Welcome to Dallas @Yen Chian tan ! If you have any questions about being an agent, investing in Dallas or anything else feel free to reach out. Uber can be a great way to meet people and I'm sure you are getting to know the city a lot better as well so that is a huge plus.
The market is definitely hot right now. We can hope things cool down over the next year but its hard to say whether prices are going to come down or just stabilize at their new levels. Either way it sounds like you got a good plan of action to get started!