NEW investor ( any tips would help)

[Mohammed Abdullah]

Hi everyone, New to the multi family investing, me and my wife are purchasing our first property it's a duplex in a very good location. ( in Johnston Iowa ) everything a tenant would ever need is only 10-20 minutes away. we are house hacking living in one side of the duplex. My plan is to live in it for a few years. One unit is remodeled and I want to do the same to the other unit Once the tenants move out. Increase in appreciation and equity and the tax benefits. We are using a VA loan it's the 80/20 2 loans.( no money down) no cash flow now but I believe it will cash flow once we update the unit, increase rent and refinance. It's 1025$ right now with a long term tenant of 14 years. Once I refinance in 4/5 years im hoping I have enough equity to use on another property( 4 plex or another duplex or maybe team up for something bigger) Does anyone see any flaws with my plan or adjusting needed ? Any tips? Any Feed back? Or has anyone house hacked in Des Moines? Any advice would be greatly appreciated

Thank You, 

[Kristine Hodges]

There’s a meetup on Friday mornings at 7:00am at Smokey Row in Des Moines.  Hosted by @Darson Grantham.  You’ll meet lots of local investors that can give you great tips.  I’ll be there this week.