Updated over 7 years ago on . Most recent reply
Is this considered "House Hacking?"
Hi all,
So, I have decided to wait on buying a two family in my area as it is expensive and out of my price range. However, I would like to move out around 26 (I am 24). I am from NJ and have been on the fence of potentially investing in a 2 bedroom apartment/condo in Union City/West New York/ Jersey City/ Hoboken area. Everyone usually suggests house hacking but with a two family home. Would buying a 2 bedroom and getting a roommate still put me on the right path for smart real estate investing? Thank you so much!
Most Popular Reply
Don't focus on the "HOUSE" part of "House Hacking" too much. The main idea is to buy a property that you can use as an investment as well as your primary residence. If you can rent a room and make enough to cover or even exceed your own housing expenses, you're way ahead of most people! Just my thoughts.
Best,