The Game Plan: Good idea? Or Misguided?

[Zach Zepp]

Hello BP!

I want some experienced advice my short term (2 year) game plan:

Currently, I am a college student working toward a double major in Accounting and Finance with a minor in Real Estate (cool, right?). I have another 2 years til I graduate. I also work part time as an intern for one of the major oil companies in the area. I make good money and have decent savings. I also have roughly $10,000 saved.

At the end of the summer, I will be headed to 4 months of military training (National Guard). Rather than sign another year long lease for an apartment that I'd only live in for half a year, I moved back in with my parents to save some more cash. I am very fortunate and my parents don't charge me rent. This means that between now and my return from training, I should be able to save an additional 10-15 thousand dollars ( 20-25k total).

As soon as I return from training I plan on becoming an agent so I can submit my own offers.

I plan on using part of this cash early next year to buy a house (preferably 3br/2bath) for myself that I can fix up while I live there. I plan on renting out the other two rooms and essentially live for free. The money I make during that time would be put into improving the house. By the time I graduate, I'd like to have taken a below average house and improved it enough that I can refinance, pay off the original mortgage, and use the excess to buy my first rental property. Or I could use the first property I bought as a rental and move into the next property and repeat the process of improving the house.

Am I missing anything in this plan? Am I misguided? Your opinions are appreciated as well as any tips and advice you can offer.

-ZZ