You need to use The File System Object. Add the Microsoft scripting runtime dll in your Project reference menu, first.
Option Explicit
Dim fso As FileSystemObject
Private Sub Form_Load()
Dim strFileName As String
Set fso = New FileSystemObject
strFileName = Text1.Text
If fso.FileExists(strFileName) Then
MsgBox "Blah, Blah, Blah, the File exists", vbInformation, "File Status"
Else
MsgBox "Blah, Blah, Blah, the File does not exist.", vbInformation, "File Status"
End If
Set fso = Nothing
End Sub