Starting My Investing Career - Advice Needed!

[Dustin Venable]

I will be purchasing my 1st property within the next 3 months. I will live in the home and accelerate principal payments. I want to build quite a bit of equity and then use that equity to purchase a 2nd property in order to rent out or do a lease-purchase. I plan on repeating the process as quickly as possible. Does this plan make sense on a basic level? Any advice for this newbie to the game will be greatly appreciated.

A few facts that might help...

With my current occupation, I'm able to save/put away about $1,000/week (This is how I plan to build equity quickly).

I live in the southwestern part of Louisiana.

I'm approved for an FHA loan, so I'm going for the the low downpayment approach.