New to Real Estate · Toms River, NJ · Member since 2021 · 7 posts · 0 votes
Hello everyone!
I'm pretty new to all this but I'm hoping to really get into house hacking a 2+ unit property in the shore area in Ocean and Monmouth County by this time next year. My range is basically from Toms River to Seaside Park all the way up to Tinton Falls through Long Branch.
I'd prefer to stay in Ocean County or southern Monmouth but maybe something more up north would work better for me. Regardless it seems like there's not many multiple unit properties available in these areas.
Does anyone have any recommendations on what areas or towns to keep an eye on? Has anyone successfully house hacked in these areas? Are there any areas that have really vast tradeoffs like being cheaper or more secure? Am I missing anything by focusing more on multifamily homes? Should I just rent and look into out of state investing? Any other tips besides leaving Jersey?
There are not too many MFH in the Tom's river area. I'd say look west or south in NJ. Get away from NYC and it's less competitive.
I lived in ocean county most my life, worked in north jersey for a while and love the shore area but burlington county has been alot better to me financially and it's been a lot less competitive than when I used to try and buy in Monmouth, Middlesex and near the shore.
There are not too many MFH in the Tom's river area. I'd say look west or south in NJ. Get away from NYC and it's less competitive.
I lived in ocean county most my life, worked in north jersey for a while and love the shore area but burlington county has been alot better to me financially and it's been a lot less competitive than when I used to try and buy in Monmouth, Middlesex and near the shore.
@Dennis Lynch point pleasant has many homes with little homes behind them.. just need to make sure it is a legal one or take the steps to make it legal.. I just saw one for sale on 808 Rue Ave if you want to take a look at that for an example of what they have around here
I thought about getting into the Pleasantville/Atlantic City Market just because of it's close proximity to Stockton University. I spent some time looking into the renters analytics but havent spent too much energy looking into shore properties just yet. Good luck!
There are not too many MFH in the Tom's river area. I'd say look west or south in NJ. Get away from NYC and it's less competitive.
I lived in ocean county most my life, worked in north jersey for a while and love the shore area but burlington county has been alot better to me financially and it's been a lot less competitive than when I used to try and buy in Monmouth, Middlesex and near the shore.
I agree I work around here though but it's amazing how much different it gets as soon as you head west a little bit thanks!
@Dennis Lynch point pleasant has many homes with little homes behind them.. just need to make sure it is a legal one or take the steps to make it legal.. I just saw one for sale on 808 Rue Ave if you want to take a look at that for an example of what they have around here
I've noticed that a bit, thank you for reminding me!
Thanks for the tip David, I've started looking around there as well and even in hunterdon county by Easton, PA and in Salem County near the border with Delaware to at least get a better idea of costs and benefits
@Dennis Lynch how has your search been going? There are a few markets in the Monmouth County area that could be worthwhile depending on your price point.
@Rob Glasser hi Rob. I think there's luck to be found. I just haven't had the position to pursue a house that will work for me. There is also the fact that the market is completely on fire though haha
@William Ryan Hi William it's really been at a standstill. I haven't had the money to pursue a house yet and that's what I'm more interested in first. I know there's cheap enough stuff to be found in Monmouth but probably more out west right? Not much close to the shore under 400k?
Hey Dennis, I am new to the platform but I do own 4 single family homes in Long Branch. Most are less than a mile from the water. I am currently house hacking my latest purchase a couple block from Peer Village. I a, really looking to connect with other investors in the area. All of my purchases have been under 400k and they all cashflow fairly well. I would be happy to chat if I can helpful to anyone on here.