I live in England and want to buy a house to rent it for passive income. I'm 21, not had a credit card before. I'll need a loan and investing in real estate agents. Whats the minimum I need to get started? (Roughly as...

Speaking from experience my 3 partners and I have a fantastic company and enjoy a great amount of success.

Please click on the links, give them a read, and share your thoughts in the comments.First is a post that I feel will help not get overwhelmed with the amount of info that is here on BP:https://www.biggerpockets.com/blogs/5868/52761-the-simple-guide-to-getting-started-on-bp The second is a post that will help get you focused with your real estate investing goals:https://www.biggerpockets.com/blogs/5868/52743-im-new-to-bp-any-advice-would-be-appriciatedThe last one is a post that will help you choose an “investor friendly” real estate agent.

I cant tell you the amount of folks I have met all over the mid west that their entire business is rentals.. its so much more common out that way given price points no appreciation to speak of and steady 700 to 800 dollar rents.. 

If you roll $60k in closing costs (~7%, totally arbitrary) into the loan amount, that will take cash flow down to ~$700 a month.If you can get the current owner to agree to make the necessary repairs per inspection, then it sounds like a very exciting deal.

They swap their own meter out with the stolen meter whenever the meter reader drops by so that it shows a smaller amount of electricity used, thus, having to pay a cheaper bill.

Is your goal to add a stream of income or replace a full time 9-5 gig, to save a certain amount of money, retire early, etc.  

I was asked about terms, amount, etc..  

Pay them a token amount for their time.  

Your goal will be for them to move-out as soon as possible with the least amount of drama and the least amount of damages.If there is a credible threat, they need to file a police report and/or get a restraining order.