I'm new to BP and have been researching REI for about a month or so. Looking for others who have had success house hacking in central NJ (specifically close to Clark, NJ where I work). What are some areas you would suggest to look into and realistic numbers I can expect in this market? I want to stop renting and start building assets and equity in Real Estate! Looking forward to some feedback!
Hey @Michael Kovacs I know of some great house hacking opportunities further south!
Let me know if you ever have any interest in seeing some deals in Burlington/Camden Counties.
I can show you some deals and breakdowns if you're interested.
Best of luck!
I’m actually from Clark, and closing on a houseback in Pennsauken, NJ. I haven’t worked in real estate up near home, but just being from there I can maybe give some advice. If you’re looking for a small multi-family, you’ll probably find pretty short supply (and expensive at that) in Clark, Westfield, Kenilworth, Cranford, and towns like that. If I were buying a rental property in that area I’d probably look towards Elizabeth, Edison, or Unions. I could be wrong, but I’d imagine you’ll find cheaper prices, more multi-families, and a stronger rental market.
Hope this helps!
Personally, I would look in Linen if I were you. My father in law lives there and tells me about all the new construction going on. I foresee a large increase in property values there.
@Michael Kovacs I am currently house hacking in Rahway which is next door to Clark. I think Rahway, Clark, some areas in Linden, Woodbridge are areas where you can house hack because they are close to the train and are in nice areas where rents will help you defend against taxes and home prices.
If you want more insight feel free to reach out.
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