Starting out in New Jersey

3 Replies

I'm just trying to get started with real estate this year, I plan on house hacking my first house. I live in NJ so its expensive to own stuff out here so would you recommend looking in a cheaper state like Pennsylvania and then when I have more capital to expand my area?

At this point you are asking a bunch of strangers where you should live.

Instead... start asking yourself some basic question about the house hack you plan on doing.

  1. Are you willing to move to another cheaper area to live?
  2. Does moving add too much commuting time to your day job?
  3. Do you plan on doing the work yourself?
  4. Are you house hacking a single family home or a multi family home?
  5. What is your end goal? Do you want keep the house hack or sell it and cash out?
  6. How long do you plan on living in the property?

These are just a few of the questions... think through these... think through the related thoughts... then you will be able to make the decision yourself.

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