I’m 20 years old, what is the best real estate strategy?

[Alex Holmes]

I’m 20 years old, have around £8k saved and earn around £23k from an apprenticeship I’m currently on. I’m from the UK so maybe the exact rules of real estate in the USA don’t apply in the uk but I wanted some advice from the experts and I think this is the best place to get it. My strategy to make money from real estate is this: buy a house with high value potential in a nice area that is run down and in need of repairs, invest money repairing the house and then rent out the house for extra income, take the equity from the house by financing the house and then using that money to buy another house and repeat the process.

what I want to know is, how realistic is this, and is this the best strategy to make money from real estate. By the time I’ve finished my apprenticeship I’ll be 22 years old and on a good salary and I can do overtime to increase my income, I should have around £20k saved by then which would be enough for a deposit on a house. I know most of you all here are Americans which means some of the laws are different but if you could help me and give me some advice I would appreciate it.