There is a difference between investing and starting a business. Buying real estate for profit, whether it is flipping or rental properties, is starting a business. Are you handy - can you lay a wood floor? Fix giant holes in walls? Install an electrical circuit breaker? If you flip houses, you will either have to do that stuff or hire someone for $50-$100 an hour to do it for you. If you buy a house for $70K, there is a reason it sold for $70K and not $75K - it will probably cost you more than $5K to make the repairs to get it to $75K. Also, what about the costs of buying a selling a house - realtor fees, title searches, etc.? I admire you having a lofty goal, but frankly you don't have a clue of how to make it happen.

Many millionaires have been made by buying and selling real estate.

Reading your question, I guess you want to be a flipper (buy low and sell high - easy to say, hard to do)

Start small and see how it goes. Find a mentor, a 60 year old real estate investor. Have the mentor talk at length about the business. Then, buy your first property and go from there.

If this was easy, the country would be littered with millionaires. Most real estate wannabees are sadder and wiser, rather than richer and happier.

good Luck!

I think you don't know enough. Watch HGTV shows like Income Property, Property Brothers, House Hunters, and others. Buying a house for $100,000 means you will actually spent about $110,000. You have to pay closing costs, title transfer fees, bank loan fees, appraisal fees, taxes, house insurance, utilities, etc. The downpayment of 20%, or $20,000 in this case, is needed to avoid the PMI(private mortgage insurance) Anyone who pays a small downpayment has to pay up to hundreds of dollars per month in PMI until the loan is paid off. And because of the $10,000 in fees, you will have to pay $30,000 up front cash or check while you take out a loan on the remaining $80,000.

There are also laws in different communities and townships as to the renovations allowed and if tenants or renting is allowed. And if renting, the house or property has to meet certain guidelines.

It is true many millionaires have been made buying low and selling high. There are nearly an equal number of people that lost every penny. So it is not as "easy" as it looks. If you want to increase you chances of success you need to find some partners, one that has real estate experience (good real estate agent), a partner that has good general contracting experience would be idea. Many a person thought they could turn a quick profit only to find their renovations were 2X their original estimates.

Thank u soo much... Appreciate ur time to answer :)

I just finished University as an Architectural Engineer. I want to start investing in real estate because i heard it is the way to go if i want to make it to a million... 1)Please how do i start and where do i go. Do i just start buying houses?... 2)How long do you think it will take for me to reach my goal?... When u answer, assume that i have at least $100,000 home to start with. 3)How do i build up on this? 4)Should i buy a $70,000 house and try selling it for $75,000? ... Sorry ^_^ I know this is alot of questions (Still got more) but i really need answers (educational, realistic, and well thought out :) ) Thanks and peace