I want to start in real estate because I want to become rich and there will always be a need for housing

I want to start in real estate because I want to become rich and there will always be a need for housing.
How should I begin with 10k savings from my own and eventually an additional +100k from inheritance?
What should I specialize in: flipping, rental, wholesaling?

Go buy a book

This isn't the place for real estate "gurus"

which books can you recommend?

biggerpockets.com

Real estate by gurus

wait for the crash

I guess in your case flipping. Currently 100k isn't much in the real estate world. Your best bet would be to flip houses, I know about 2 years ago you could get houses in shitty parts of philly for around 20-30k dollars. Spend about 50k renovating the former crackhouses and flip them for a decent profit but nothing too crazy considering that they're still in shitty drugfilled areas.

Real estate is such an amazing thing to get into but if you're not loaded then it's tough to start making loads

Here in Belgium we don't seem to have been affected by the housing bubble in 2009, waiting for the crash here is pointless

Houses here are mostly around 70k-100k minimum, don't see any opportunity to really flip.

Recommendation for rental, as my family already owns around 15 houses, but they don't all go directly to me and still have to wait to get them.

> Houses here are mostly around 70k-100k minimum, don't see any opportunity to really flip.

Where do you live?

In Belgium

>Belgium
I was about to write a wall of text about rental properties in Europe...
>Recommendation for rental, as my family already owns around 15 houses
Why the fuck aren't you asking them? They obviously have a ton of experience in real estate. They can literally show you the ropes, how it's done and not just the theory. If you have substantial real estate in your family - for fuck's sake, get away from your computer and "intern" with your relatives for a few months. You can pick up both the landlording business and the flipping, once the inevitable renovations on one of the 15 houses is due. How about you use your opportunities to tag along risk-free before you decide what you want to do?

Wholesaling will teach you what a good deal is. If you break even on your first flip consider it a success. You will learn a ton and you aren't out any money. Remember: you make money in real estate when you BUY.

>I was about to write a wall of text about rental properties in Europe...
Link when ready?

>Why the fuck aren't you asking them?
They're my grandparents but they buy houses they shouldn't buy, dumb investments.
It's just a side income for them. They renovate houses they should've smacked down and rebuilt and build houses that hurt my eyes. I don't think there's much advice I can take from them honestly.
They mostly rent it out to people they know and give them some special promotion, which is not how I would do it later.
So as I've said there shouldn't be coming much good advice from them for real estate.

I was only going to write it before you mentioned you had real estate investors in your family.

Seriously. Ask them to show you the ropes instead of asking on Veeky Forums.

They're old, have decades of experience, have renovated dozens of houses. This is invaluable experience and great networking!

Look, I get it. You're young, you think you're hot shit, you don't want to be lectured by old people, you think you have brilliant ideas to revolutionize the family business. We've all been there at one point in our lives.

But this is a stupid and misguided approach to business. Learn the basics from someone who's been doing for decades. *Then* improve upon them. You say they make a "side income" - that means they're profitable, which is already a lot. Probably a lot more than any of your ventures have going for them, I assume.

>They renovate houses they should've smacked down and rebuilt and build houses that hurt my eyes
Have you asked them for their reasoning? And not in a condescending way - ask them honestly for their reasoning and try to understand why they do it.
In general, unless you're selling hipster lofts in downtown the aesthetics do not matter at all. From the landlord's perspective real estate is *all* about numbers. Run their numbers. Consider inflation, vacancies, tax law quirks, etc. Maybe their way is more profitable than you think? Where I live costs of renovating an old building I can write off across 15 years, but construction costs of a new building would take 60 years to write off. Maybe the zoning laws changed? Maybe they have great contractors but no architect? Etc, etc. There's a myriad of very good reasons to keep old houses. And from the perspective of a tenant utility is far more important than looks.

Ask them to take you on for their next project and you *just* assist. They make the decisions, you observe, ask questions and help. Trust me, it'll help you along much more than any book or Veeky Forums post will.

Alright, thank you very much convincing me.
Will talk with them about the business.

The reason why they renovate and not build a new house is because of taxes

In Belgium u have a 6% tax on renovating and a 21% tax on building
(Ps how can you live in this shithole of a country? The 60% taxrate forces me to leave the country in the next 2-3 years)

Buy REITs. Don't buy a house to rent unless you want to have a second job or pay all your profits to a management company.

so i'm from toronto and since i'm broke i'm kinda screwed when it comes to Real Estate due to the fact that a house costs around 1m

This. And dont fucking meme flip. Study and read some books and then you will know that 10k is 20% of a a $50,000 loan for your first shithole.

>there will always be a need for housing
lmao how underage are you?

You're always the reasonable man who just has to point out that the clown car is a clown car, aren't you?