Looking for NJ House Hack-Friendly Towns with Easy NYC Commute

[Max Fils Remfort]

Hey everyone! I’m planning to house hack after I graduate from college next spring, but I’m having a bit of trouble narrowing down which areas in New Jersey to focus on.

A little background: I’ll be working in Manhattan, and I’m looking for a city or town in NJ that would be a good fit for house hacking. I’m specifically looking for a duplex or triplex in the $500K–$700K range, though I’m open to going up to $800K if the numbers make sense.

I’ll be house hacking with my parents, and they’ll also be commuting into NYC, so access to reliable public transit is a must. Owning three separate cars just wouldn’t be financially realistic along with a mortgage.

I'd also love to connect with any local realtors who are familiar with multi-family properties and can help with the search, as well as any lender recommendations for FHA loans.

Thanks in advance for any suggestions or connections!

[Shawn Mcenteer]

Quote from @Jake Yuskaitis:

I live in NJ and i honestly would not recommend doing this in NJ. I think you'd be much better off investing in rentals in PA and renting while living in NJ.

will also allow your lifestyle to be flexible to go where the money goes in terms of career trajectory.

 I could not disagree more.  I live in NJ, have been investing for over 10 years, leveraging house hacking strategy for myself and dozens of clients each year.  When doing an apples to apple comparison of what it take to purchase out of state compared to what it cost to house hack in state and advise someone to leave the area they are in and go out of state is wild to me.  From the down payment and owner occupied loan options alone this advice is backwards on top of this you are suggestion they rent in NJ?