Buying Empty Lot to Build Rental Property

[Khalid Khan]

The subject says it all. I am a brand new investor and am looking into getting real estate. As a student, I have time on my hands. Say I find a corner lot going for $150K, 2000 sq. Prices of homes in that area typically goes for $525K.

Would it be a good call to purchase the lot and develop your own rental property?

Would you recommend a duplex, triplex, fourplex? Or more?

I have $80K in the bank. What would the cost of building something like that be? And how would I finance it?