I want to accumulate properties and this is my way about it

[Marcel Mckenzie]

Hi i am 22 years old and i will be purchasing a home in 8 months, i have 700+ credit score, i will be using an FHA loan for a home that is around $400,000, i will be house hacking and i will only need to cover $500 of a $2500 mortgage, I have no bills and my car is paid off, I want to get into real estate investing and accumulate properties. My idea was to but this first home, using FHA while here save up all my money and pay down the loan to the point i do not have to pay PMI, and get a second home the following year, Using the same method. I do not plan on moving from the first home until I dont owe PMI, then i want to rent it out. Could i get some advice from experienced folks to understand if im missing something or if im on the right track and what you would do different?

[Michael Plante]

Originally posted by @Marcel Mckenzie:

Hi i am 22 years old and i will be purchasing a home in 8 months, i have 700+ credit score, i will be using an FHA loan for a home that is around $400,000, i will be house hacking and i will only need to cover $500 of a $2500 mortgage, I have no bills and my car is paid off, I want to get into real estate investing and accumulate properties. My idea was to but this first home, using FHA while here save up all my money and pay down the loan to the point i do not have to pay PMI, and get a second home the following year, Using the same method. I do not plan on moving from the first home until I dont owe PMI, then i want to rent it out. Could i get some advice from experienced folks to understand if im missing something or if im on the right track and what you would do different?