Starting In Real Estate

[David Bilskey]

Hi my name is David and recently I had thought of an idea of what I wanted to do with my life. Please be considerate and open minded to the fact that I am only 19 years old. I work a job ,rent a house (for now), and im just a average joe. So I thought about how I like doing construction (where I started) and wanted to build my own rent houses from the ground up but, I have a lot of questions on them like: Where should I put the houses someone that used to be in real estate told me almost anywhere I put up rent houses they will rent. (maybe just in my area.) but where I live isn't the most populated town. ITs a town in the southeast part of Missouri. So is it a bad idea to start in my location. How should I start should I just buy like a acre of land build 6 ish one bedroom apt. 's on them or 3 if 6 is to much or 2 triplex single bedrooms. I've done a little math and an acre is 42K square feet a single house could be built within 1.2k - 1.4k Square feet. so really maybe buying in bulk would be cheaper? Or is that to much at once ? Would this be efficiently enough to keep a steady flow of cash to pay my bills. ( I know that's kind of out there tho) Is this even a good idea or a good start? How long should I wait before I do this. What about money to get started do I just use a few credit cards take some small loans out of the bank until I can do this? Mabe buy the property with the first loan? if so how many years before ill be able to get a loan out big enough to do this. Maybe I should just start witth flipping? But flipping is taking a lot of chances considering the conditions the house could be in and you not know about like hot water heaters and fuse box stuff is not cheap but especially on my first houses with me being so self efficient with labor cost and possibly buying in bulk (don't know if that really matters) and everything will be new so less refurbishing maybe... Should I really mess with a hard lender if it came down to it? I don't know to much about how much interest they charge and I just kind of feel safer with a bank.. So Yea If anyone could try to answer some of these questions would be awesome