Puoi fare in questo modo

codice:
    Public Sub New()
        MyBase.New()

        Create(Color.White)
    End Sub

    Public Sub New(ByVal bColor As Color)
        MyBase.New()

        Create(bColor)
    End Sub

    Private Sub Create(ByVal bColor As Color)
        Font = New System.Drawing.Font("Courier New", 10)
        HighlightColor = Color.Red
        Highlight = True
        DefaultTextColor = Color.Red
        DefaultText = "myTextGet"
        Text = "myTextGet"
        SelectedBackColor = Color.Yellow
        Width = 100
        BackColor = bColor
    End Sub