I need help with getting into Real Estate

[Michael Quinn]

My brother in law and I are taking a different approach.  Find cheap lots in lower income areas.  Build small 3 br, 1.5 baths homes.  Doing a lot of construction ourselves.  Less repairs/maintenance, better utilities for tenants.  We know a longtime investor who has been following this model successfully.  Please rip my plan a part or offer suggestions.

Thanks 

Mike 

[Michael Quinn]

Henri 

I lived in Charlotte for awhile.  Do not have hard estimates yet..lots are 3-5 k, build 50-60.....should have about 30% equity...loan from private loan probably going to be prime rate. Rental about 7-800...payoff on about 7 years.

Thanks