how can I buy my next home

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I want to buy a house at $150,000. lets say, thats after all the closing cost are done and this is the final price, we put 50k down and are now paying off 100k. 3 bedroom house and 3 baths, we rent out the 2 rooms for 700 each, how can this build me equity and what would be your next step to buy the next house to build more cash flow? 

Originally posted by @Paul Padilla :

I want to buy a house at $150,000. lets say, thats after all the closing cost are done and this is the final price, we put 50k down and are now paying off 100k. 3 bedroom house and 3 baths, we rent out the 2 rooms for 700 each, how can this build me equity and what would be your next step to buy the next house to build more cash flow? 

 Well, the easiest thing is not put $50k down. Aim for $30k, save another $10k and do it again. However, you might think long and hard about having tenants in a regular single-family house that you live in yourself. If you have a family I predict it will likely be a disaster, if you are single it might be a little easier. 

What I would do, instead, if possible, is buy two $75k houses, live in one rent out the other one. I was in the Navy and had a lot of apartments and roommates, and even roomed with married people, and it was not easy. Much better to have renters live their way, and you live your way.