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Updated 11 days ago on . Most recent reply

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Vaughn Jennings
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Understanding House Hacking / appreciation

Vaughn Jennings
Posted

Hello,

in terms of house hacking in northern New Jersey (or in general) which type of property is more likely to appreciate in a good area, a single family home, duplex, triplex, extc. Or if the area is top notch (A/B class neighborhood) will they all appreciate relatively the same ? 
Also, I understand that you can rent by the room house hacking a single family home, but how likely is that? Is it easier/more realistic to house Hack multi family unit 

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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
941
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2,185
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Shawn Mcenteer
  • Realtor
  • Boonton Township, NJ
Replied
Quote from @Vaughn Jennings:

Hello,

in terms of house hacking in northern New Jersey (or in general) which type of property is more likely to appreciate in a good area, a single family home, duplex, triplex, extc. Or if the area is top notch (A/B class neighborhood) will they all appreciate relatively the same ? 
Also, I understand that you can rent by the room house hacking a single family home, but how likely is that? Is it easier/more realistic to house Hack multi family unit 


 Hi Vaughn. Appreciation for single family and multi family ten to be similar. Both are in very high demand in North Jersey.  Very few single family and small multi family homes are being built. Finding distressed properties  A/B type neighborhood tend to work well especially with regards to rent increases year over year.  A/B type beinghoods are great but really the main focus should be landlord friendly towns vs tenant friendly towns, North Jersey fluctuated town to town.  There are towns that are wonderful and others that you should avoid. 

Rent by room works, I have done it both ways and I have plenty of clients doing single family and multi family.  SF vs MF is very important early on, I will let you know I have purchased many house hack in north jersey using low money down loans. HUGE hack.  In order to do so the type of property you buy prior plays a large part.  Purchasing single family then multi can be extremely tough but going from multi to single tends to be much easier.

With this being said, this is just small part of implementing a successful house hacking strategy but plays a massive role.  

  • Shawn Mcenteer
  • 9739753895
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House Hacking New Jersey
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