I have wanted to do this for along time and want some clarification on how realistic it is for me to actually be able to do it. I always hear about how ordinary people buy houses, renovate to sell or rent and slowly build their portfolio from nothing to something.

I know its a lot of hard work and i know it takes alot of time, i would be working full time along side the renovation and this is something im willing to do, i am capable/trained in many diy skills so i would not need to hire many or even anyone to help unless something unforseen happened. Other than this my knowlage of the housing market, mortages and everything similar is limited.

I also currently rent, the way i see it happening is say i renovate a house and put it up for rent i would have the mortgage being paid for with that as well as have a bit left to use for the up keep of that house and to save for me to then buy my own home eventualy and renovate that to then live in. Is this stupid or fine?

My monthly income is £2400, outgoings are £1100 leaving me with £1300 a month in savings. I currently have a little over £20,000 in my savings and have the means to sell things i own to gain roughly £4000-£5000 more if i really needed to inorder to not spend all of my savings and if i left it longer i could have more if needed. My aim if possible is to mortgage a £90,000 - £110,000 house that is in need of renovation then rent in order to cover the mortgage and eventually remortage to do this again in order to repeat the process.

Can anyone who has done this give me any advice on what they have learnt, are there things i need to know that i might not, for example hidden costs, and is it even realistic given my finacial situation. I am neive to details regarding house flipping/ buying so i may be over simplifying some aspects, any help is appriciated.

This is in the UK btw.