Accidental Buy and Hold Investor (NJ)

[Account Closed]

Hello! Long time reader, first time poster. We live in northern New Jersey and currently own a condo and 2 small multifamily homes. I call myself an accidental buy and hold investor as we've acquired properties for reasons other than investing: better neighborhood, more space. But we've managed to hold on to our properties, and have become landlords in addition to working our day jobs.

We stumbled into real estate at the height of the last bubble. Back in 2007-8, we were immediately priced out everywhere save the least desirable neighborhoods-- and we were already living in one of those. Ironically, our inability to compete in bubble market lead to us become more far more disciplined savers. We hunkered down in our (then) run down house, a family home my spouse maintained for years, and saved. Around this time we officially inherited the house and converted it to a MFH, renting out the upstairs to friends. Looking back. I realize that we were house hacking, though not knowing it then. 

We bought our first real property in 2011 after the birth of our first child, a condo overlooking a park in a rapidly gentrifying part of town. Dumb luck would have it that we happened to buy at just the right time, as the value of our condo has appreciated nearly 50% in the 5 years we've owned it.

After having our second child, we realized that eventually we would need more room. We liked the model of house hacking, and around then I discovered BP. We took out a cash out refi on our first property (which we owned free and clear) to use as a down payment for our 3rd property, a 2 family MFH a couple of miles away. For now we're renting out both units while we decide our next move. 

Ideally, we'd love to purchase something bigger in our current neighborhood. Unfortunately we've been priced out already, with prices for 3 bedroom apartments exceeding a million dollars. In the meantime I'm here to learn, ask questions, and hopefully become a more intentional, rather than accidental, investor.

Thanks!

Jen

p.s. - I'm not using my full name as I'm a public school teacher and prefer to keep my out of school interests outside of school. :)