New North Jersey Investor Looking to Connect!

Member since 2025 · 5 posts · 1 vote

Hey all!

I'm MJ - looking to begin house hacking in North Jersey. I work at a record label in Manhattan and live in in Jersey City with my fiance but looking to buy Q1 of next year. I'm thinking of purchasing a multi-family in Newark and growing from there. I came across biggerpockets from a podcast and wanted to check it out. Looking to connect with other house hackers, agents, property managers etc as I begin the process. Any advice and feedback is appreciated.

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Jackie Carmichael

Lender · Hinton, WV · Member since 2025 · 128 posts · 53 votes

MJ — welcome to BiggerPockets! Love that you’re already thinking about house hacking in Newark. A few quick tips as you prep for Q1:

• Run Numbers Conservatively: Factor in PITI, maintenance, mgmt (even if self-managing at first), and vacancy. Make sure the deal cash flows even if one unit is empty.

• Neighborhood Selection: In Newark, it’s block-by-block. Look for areas near transit lines where demand stays strong (college tenants, commuters).

• Financing Strategy: FHA or 5% down conventional are great entry points for house hackers. You can later refinance into a DSCR or rental loan once the property stabilizes.

• Build a Team Early: A solid agent, lender, and PM are critical — they’ll help you find, underwrite, and manage so you can scale faster.

On my side, I help house hackers and small multi buyers line up financing — both for the first purchase and the refinance down the road. If you want, I can share the analyzer I use to quickly stress-test deals so you’ll know what to expect before making offers.

Curious — are you leaning toward a duplex/triplex to start, or aiming straight for 4 units?

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Jackie Carmichael
Lender · Hinton, WV · Member since 2025 · 128 posts · 53 votes
1y
MJ — welcome to BiggerPockets! Love that you’re already thinking about house hacking in Newark. A few quick tips as you prep for Q1:

• Run Numbers Conservatively: Factor in PITI, maintenance, mgmt (even if self-managing at first), and vacancy. Make sure the deal cash flows even if one unit is empty.

• Neighborhood Selection: In Newark, it’s block-by-block. Look for areas near transit lines where demand stays strong (college tenants, commuters).

• Financing Strategy: FHA or 5% down conventional are great entry points for house hackers. You can later refinance into a DSCR or rental loan once the property stabilizes.

• Build a Team Early: A solid agent, lender, and PM are critical — they’ll help you find, underwrite, and manage so you can scale faster.

On my side, I help house hackers and small multi buyers line up financing — both for the first purchase and the refinance down the road. If you want, I can share the analyzer I use to quickly stress-test deals so you’ll know what to expect before making offers.

Curious — are you leaning toward a duplex/triplex to start, or aiming straight for 4 units?
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- Michael Gaither
  OP
  Member since 2025 · 5 posts · 1 vote
  1y
  @Jackie Carmichael hey Jackie, I'll definitely take the analyzer. Ideally, we'd look for a triplex but duplex is also fine.
  0 Reply
Brandon Arce
Member since 2019 · 14 posts · 13 votes
1y
Hello MJ welcome to this community. Question, what makes Newark more attractive than Jersey City, in your opinion? Yes do downtown JC is overpriced, but there are many other areas that are up and coming. Journal Square, the Heights section, or West side ave by the college? I just feel JC is so much more accessible to the city.
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- Michael Gaither
  OP
  Member since 2025 · 5 posts · 1 vote
  1y
  @Brandon Arce agreed, I've just heard newark is "going to be the next silicon valley" according to Forbes lol. Plus I know a lot of businesses are opening headquarters there and they're predictions it could be the next JC/Hoboken in a few years.
  0 Reply
Terrance HillPro Member
Realtor · Memphis, TN · Member since 2010 · 425 posts · 117 votes
1y
Welcome, MJ! House hacking a multi in Newark sounds like a smart way to get started — especially with how competitive North Jersey can be. One piece of advice: really get to know the sub-markets (block by block in some areas) and run conservative rental estimates so you don’t get surprised after closing. Connecting with local property managers early will also give you real-world numbers on what’s renting and for how much. I’m always down to connect with fellow investors and house hackers — wishing you the best on your first deal!
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- Michael Gaither
  OP
  Member since 2025 · 5 posts · 1 vote
  1y
  @Terrance Hill thanks Terrance!
  0 Reply
JooYung Choi
Realtor · NJ · Member since 2023 · 215 posts · 99 votes
11mo
Hey MJ,
NJ is a fantastic place to house hack. With the right location, you can expand your tenant pool tremendously to target NY commuters as well as NJ professionals. Currently on my 2nd house hack, looking for my 3rd. With MTRs, I've been cash flowing on my house hacks, getting paid to live in my own home! Any particular items you are needing help with? I'd love to help out in your house hacking journey.
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Aaron ZimmermanBusiness Member
Accountant · Chicago, IL · Member since 2018 · 2k+ posts · 1k+ votes
11mo
Welcome! I don't live in New Jersey but I am a former house hacker. Reach out with any questions. Happy to help!
[email protected]
Brick House CPAs53 Reviews
Website View Page
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Shawn McenteerBusiness Member
Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
11mo
Quote from @Michael Gaither:

Hey all!

I'm MJ - looking to begin house hacking in North Jersey. I work at a record label in Manhattan and live in in Jersey City with my fiance but looking to buy Q1 of next year. I'm thinking of purchasing a multi-family in Newark and growing from there. I came across biggerpockets from a podcast and wanted to check it out. Looking to connect with other house hackers, agents, property managers etc as I begin the process. Any advice and feedback is appreciated.

Hi Michael, house hacking tends to be a smart move. I run a youtube channel dedicated to house hacking in New Jersey. The best advice I can give is repeat what works and learn from those that has done what it is you are looking to do. There is no need to guess.
973-975-3895
House Hacking New Jersey563 Reviews
Website View Page
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Joseph Guzzardi Jr
Rental Property Investor · Member since 2019 · 411 posts · 148 votes
11mo
House Hacking the best way to get started in my opinion. I suggest you get familiar with areas of Newark and understand which local sections fit your needs and goals the most. Also suggest reviewing local rental laws/regulations.
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