Buying a house and renting it out??

summitvessel: Buying a house and renting it out??
I’m considering purchasing a house and renting it out since I have about 65k. However, I have NO idea where to start. I’ve read that buying a house is a great investment yet I know nothing about real estate. I’m a full time college student and would like to continue to be one, without needing to work. How do I get started???

Answers and Views:

Answer by New direction
…make sure it’s a duplex.

Answer by William H
Figure out how much you can rent the house for. Figure out how much it will cost to buy and upkeep the house. See which figure is higher.

Answer by piet lul
good idea.

Answer by Dave M
My Dad once told me that if I was going to do that, then be able to drive by it every day. But I think he also thought it’s a great way to make money. So, I did it, and it paid off well. I would do it again, but first you need to know the market you are in. I would go to a real estate agent and honestly tell them what you are thinking about doing. Of course, they are going to tell you to buy. But I would first ask them how sales have been lately in your area. There aren’t too many places around now where the housing and rental markets are doing too well, but there ARE some. Hopefully you are in one of those.
If you are planning to rent out rooms, while living in it, then you are almost certain to make money, like I did.