What I could have done instead....

[Vy Mai]

1. We did a 10% down payment using FHA loan to buy our first house.

-What I could have done is just put down 3.5% (FHA requirement) only and use the rest of the money to invest in more properties. However, property investment wasn't even in our mind to begin with.

2.  We took out home equity loan on our first house to do a 20% down payment for buy a rental property.

-What we could have done is to just buy a house to live in so I just need to put down 3.5% (again FHA loan), rent out my first house and buy more properties with the extra cash...

Hopefully we know about about mistake 3 before making it! However I am very proud to even own a rental property. This hasn't crossed my mind 6 months ago!