Strategy Ideas For Next Property-Anybody Got A Better Idea?

[Patrick Q.]

Hi all,

Working on moving on to our 2nd house hack.

We have around $61K in credit card debt that we will have paid off within a year using Avalanche method (may not pay fully down to zero if it makes sense not to).

We are currently in an FHA mortgage and have around 5.5-9% equity on our first house hack (been here a year).

Planning on saving up the money for a 5% down payment for our next house hack $40K-$65K (purchase price between $800K+$1.3M).

Will also need to get some money together for reserves and painting or light repairs before moving into the new property.

We will also need to get some money together to do some upgrades to part of the unit we live in, in our current house hack.

We are looking at a 2- 2.5-year timeline to get all of the above done and move into our next property.

We would like to get it done in less time.

The price point in the areas we would like to live are in the $800K+$1.3M.

We have chosen this area because we plan on staying in this house hack long term.

Does anybody have any suggestions as to how we could speed up this process?

Potentially ways that we could pay down the debt faster...

Potentially ways that we could get out of the PMI on the FHA to reduce the costs on our current house hack so that we could use the additional cash flow to get where we need to be financially, sooner.

Suggestions on other loan products/strategies that we do not know about.

Any advice would be appreciated.