Error when creating new projects

[ricloh]

I tried to create a new project and received an error. I created the project with the asp.net web application template. The error i received was "the web server reported the following error when attempting to create or open the web project located at the following URL:'http://localhost/webapplication1'.'HTTP/1.0403Forbidden'.
I installed IIS and VS.net but not the MSDn Help disc. Do i need to configure anything before i start? I will not be using any database yet. Please enlighten me Gurus! Thanks

[MRutledge]

take a look at this link

http://msdn.microsoft.com/library/default.asp?url=/library/en-us/vbcon/html/vbtbsunabletoaccesswwwrootfolderonserverwhencreatingwebapplication.asp