New NJ investor looking for ideas
Hello BP community! I would like to take the time to introduce myself and my intentions here on the forum. I am a single, 26 year old potential future investor and living with my parents in Toms River NJ. I just finished paying off my student loans and now I am saving up for somewhere to live.
I work full-time in Princeton NJ and have been listening to the BP Podcasts on my commute. I see my current situation as a great opportunity to start investing in real estate.
I want to buy a single or multi-family house with a garage that is close (≤ 45 mins preferably) to work. I am interested in "House Hacking" to reduce if not eliminate my mortgage payments.
I would like to have the ability to move out of this property in a few years and rent it for passive income. Possibly through the "BRRRR" strategy.
Ultimately, I want to supplement my income and have multiple streams of revenue. As of right now, I do not plan on becoming a full-time REI.
Any thoughts or opinions on strategies to get started would be great. Also, if anyone can suggest local areas that I should look into (or how to find them myself) that would be awesome!