Starting a rental empire

[Joseph Steffl]

Hello, I am generally new to the site and have a load of questions i need advise from you experienced investors. I am 17, I live in southern Washington, and have decided i wish to begin in real estate as an investor for my career, i work part time while going to school and have about 5k saved up. I am very aware this will not be enough to get into the game but that leads me into my questions. How much capital do you believe i should save before i start working? Should i dive right into rentals or do fix and flips to build more capital(i do have the ability to do so with very little needing to be hired out)? How many homes should i have in my portfolio before i go to a management company? and probably most important, how do you figure whether a house is the right house to rent, how much to price rent out for, and who to rent to? I have heard all sorts of answers and would just like clarification. Thank you in advance.

[Roy N.]

@Joseph Steffl

Capital requirement aside, you have the enthusiasm, now you need the education and experience, especially if you want to fix & flip/rehab and rent.

 I would suggest you find a reputable real estate broker, property manager, or rehabber in your area and see if they might have an opening for an assistant / crew labour.   This would allow you to gain exposure to the business and earn a bit of quid in the process.

As you gain exposure and continue to educate yourself, some of the answers to the questions above (which are good questions, but a little premature at this point) will become known.