House Hacking as a 21 y/o

Jersey City, New Jersey
Starting Out
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House Hacking as a 21 y/o

Brandon Zarin
New to Real Estate · Bedminster, NJ · Member since 2026 · 10 posts · 9 votes

Hello everyone! I did a new member intro maybe a month ago, and haven't been as active on BP since I run a mobile detailing business out here in NJ and have been slammed for the summer months. I am currently in college and very interested in getting into REI. I am in a local networking group where I have a few REI people, and that's how I discovered BP and the podcast, which I have used as my main resource.

I am very interested in House Hacking, as I feel that'd be my most realistic way to get started. Anyone who has done this, could you share your thoughts, advice, etc.? In NJ, the market is extremely high, which is my biggest concern about getting into it. I have built good credit, which I know is useful. Thank you everyone!

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Jake YuskaitisBusiness Member
Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
2mo

I am local to NJ. Is your detailing biz in North Jersey?

I would never buy investment properties in NJ. The landlord/tenant laws are horrible and the property taxes are way too high.

House hacking may be tempting but not worth it in this case. If you can swing the commute from a LCOL area in PA that would be much better.

[email protected]551-287-6884
Frontier Funding LLC533 Reviews
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  • Abel CurielBusiness Member
    Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes
    2mo
    Quote from @Brandon Zarin:

    Hello everyone! I did a new member intro maybe a month ago, and haven't been as active on BP since I run a mobile detailing business out here in NJ and have been slammed for the summer months. I am currently in college and very interested in getting into REI. I am in a local networking group where I have a few REI people, and that's how I discovered BP and the podcast, which I have used as my main resource.

    I am very interested in House Hacking, as I feel that'd be my most realistic way to get started. Anyone who has done this, could you share your thoughts, advice, etc.? In NJ, the market is extremely high, which is my biggest concern about getting into it. I have built good credit, which I know is useful. Thank you everyone!


     Hello Brandon,

    Great to hear that business is booming and you have an idea in the works for reinvesting.

    Househacking is one of the best ways to get started with REI with a low downpayment. You'll gain valuable acquisition, project management, and property management experience.

    My main pieces of advice would be to
    1. familiarize yourself with your target market(s)
    and
    2. start building your team - lender, agent, inspector... later on, you can start adding more team members like contractors, attorney/title, handymen, property manager, etc.

    Getting more active on BP (even if its just 20 min/day) will help as well.
    Heres what I'd recommend to use BP efficiently and quickly:
    - Set/save locations of interest (i.e. Jersey City, Newark, etc.). You can then click "followed locations" each time you log on to see the most recent post activity in these areas
    - Use the search feature to find people of interest and read up on previous posts related to your topics/areas of interest
    - Set up Keyword alerts - You'll receive notifications whenever "househack" or "New Jersey" are mentioned

    All the best!

    Abel

    REbuild Team - eXp Realty5234 Reviews
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    2Reply
    • Brandon Zarin
      OP
      New to Real Estate · Bedminster, NJ · Member since 2026 · 10 posts · 9 votes
      2mo

      @Abel Curiel I appreciate all this thank you! I made my nearby cities as followed locations now. I really appreciate it

      1Reply
  • Jake YuskaitisBusiness Member
    Lender · New Jersey, USA · Member since 2022 · 254 posts · 67 votes
    2mo

    I am local to NJ. Is your detailing biz in North Jersey?

    I would never buy investment properties in NJ. The landlord/tenant laws are horrible and the property taxes are way too high.

    House hacking may be tempting but not worth it in this case. If you can swing the commute from a LCOL area in PA that would be much better.

    [email protected]551-287-6884
    Frontier Funding LLC533 Reviews
    WebsiteView Page
    2Reply
    • Brandon Zarin
      OP
      New to Real Estate · Bedminster, NJ · Member since 2026 · 10 posts · 9 votes
      2mo

      @Jake Yuskaitis Yessir! I'm based over in North NJ, near Bridgewater area. I appreciate your opinion on this! 🙏

      1Reply
  • Drew SygitBusiness Member
    Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
    2mo
    Quote from @Brandon Zarin:

    Hello everyone! I did a new member intro maybe a month ago, and haven't been as active on BP since I run a mobile detailing business out here in NJ and have been slammed for the summer months. I am currently in college and very interested in getting into REI. I am in a local networking group where I have a few REI people, and that's how I discovered BP and the podcast, which I have used as my main resource.

    I am very interested in House Hacking, as I feel that'd be my most realistic way to get started. Anyone who has done this, could you share your thoughts, advice, etc.? In NJ, the market is extremely high, which is my biggest concern about getting into it. I have built good credit, which I know is useful. Thank you everyone!

    If I was starting out again with what I know now, I'd look to acquire a 2-4 unit property with an FHA 3.5% low-down payment mortgage.

    I'd also look into using an FHA 203k renovation loan, allowing me to buy something ugly, thus unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

    To maximize my cashflow and gain landlording experience, I'd do STR and MTR in the other units, as well as the other bedrooms in my unit.

    Since most cities won’t allow basement rental units, I’d consider finishing the basement, just well enough for me to live down there (cities don’t care if owner chooses to live in basement), so I could rent out ALL the units/rooms.

    I'd save all my cash and look to refi the property in 1-2 years out of the FHA mortgage, so I could use it again if necessary. Depending on how close I was to having 20% equity in the property and being able to avoid PMI, I'd consider using some of my cash to pay down the mortgage when I refinanced. Otherwise, I'd save my cash for the next acquisition.

    I’d also be posting on every social media platform and telling everyone I knew that I was looking for more real estate deals. I’d aim for low downpayment land contracts and lease options.

    After refinancing out of the FHA mortgage, I'd evaluate if I wanted to repeat the 2-4 unit FHA 203(k) process again or if I had the 20% down to target 5+ units.

    While still living in the property, AFTER the refi out of the FHA mortgage, I'd also explore securing a HELOC to tap my equity for emergencies.

    Good luck with whatever you decide to do!

    [email protected]248-209-6824
    Logical Property Management4.9459 Reviews
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    0Reply
    • Brandon Zarin
      OP
      New to Real Estate · Bedminster, NJ · Member since 2026 · 10 posts · 9 votes
      2mo

      @Drew Sygit Thank you Drew! I'm thinking the FHA loan may ne my best bet. I really appreciate your take and opinion. Thanks for taking the time!

      0Reply
    • Drew SygitBusiness Member
      Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
      2mo
      Quote from @Brandon Zarin:

      @Drew Sygit Thank you Drew! I'm thinking the FHA loan may ne my best bet. I really appreciate your take and opinion. Thanks for taking the time!


       You know there's this "Votes" hyperlink in the lower left side of each response...

      [email protected]248-209-6824
      Logical Property Management4.9459 Reviews
      WebsiteView Page
      0Reply
  • Wale LawalBusiness Member
    Real Estate Broker · Houston | Dallas | Austin, TX · Member since 2018 · 5k+ posts · 2k+ votes
    2mo

    @Brandon Zarin

    House hacking remains one of the best routes to go, particularly in an expensive real estate market such as New Jersey. One should target a home where the rent you collect will cover most of your housing expenses, keep enough cash reserves and be patient because timing beats everything else.

    Good luck!

    [email protected]832-776-9582Podcast Guest on Show #469
    NETWORTH BUILDERS5236 Reviews
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    0Reply
  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    2mo
    Quote from @Brandon Zarin:

    Hello everyone! I did a new member intro maybe a month ago, and haven't been as active on BP since I run a mobile detailing business out here in NJ and have been slammed for the summer months. I am currently in college and very interested in getting into REI. I am in a local networking group where I have a few REI people, and that's how I discovered BP and the podcast, which I have used as my main resource.

    I am very interested in House Hacking, as I feel that'd be my most realistic way to get started. Anyone who has done this, could you share your thoughts, advice, etc.? In NJ, the market is extremely high, which is my biggest concern about getting into it. I have built good credit, which I know is useful. Thank you everyone!


     Hi Brandon. House hacking is a great way to go.  My wife and I got to financial freedom through house hacking in New Jersey.  There is a lot to learn but I will let you know completely worth it.   In todays market finding the right location with right strategies plays a huge part towards cash flow and possibly living for free in a property.   I have clients that even in todays market live for free and for sure live at a reduced cost.   If you would like to talk strategy, happy to hop on a call to dive deep with house hacking.  

    973-975-3895
    House Hacking New Jersey563 Reviews
    WebsiteView Page
    1Reply
    • Brandon Zarin
      OP
      New to Real Estate · Bedminster, NJ · Member since 2026 · 10 posts · 9 votes
      2mo

      @Shawn Mcenteer An call would be great man. Are you able to direct message me or I can message you. Thank you!

      0Reply
  • Ritwik Rudra
    Member since 2023 · 2 posts · 1 vote
    2mo

    Hi Brandon - love the idea of house hacking that's how I got started buying real estate 4 years ago when I was 23. 5 rentals and 2 flips later I can say it's definitely been a great idea...shoot me a message happy to give advice on how you should get started on finding your first deal. I'm also a lender so happy to give candid advice on how to think about financing.

    0Reply
  • Mendy J.
    Investor · NY · Member since 2026 · 121 posts · 42 votes
    2mo

    New Jersey has a higher prices and North Jersey especially has high property tax but I still believe that house hacking There will be a great idea, I have properties there, you have great rent, high demand and strong appreciation even when the south coast bleeds,  so every place has their pros and cons. Make sure due diligence and jump in.

    0Reply
  • Jake Handler
    Real Estate Agent · Morristown, NJ · Member since 2020 · 206 posts · 128 votes
    2mo

    "In NJ, the market is extremely high, which is my biggest concern about getting into it." 

    This is exactly why house hacking makes tons of sense for a younger person.  Have someone else pay some of your mortgage while you own a property in an area that's historically had great appreciation, and at your age time is on your side.

    My Bigger Pockets rookie episode will be airing on 8/3 so you can hear how I got started by house hacking in North Jersey (and still house hacking today!)

    1Reply
  • Joseph Guzzardi Jr
    Rental Property Investor · Member since 2019 · 411 posts · 148 votes
    2mo
    House hacking in New Jersey is a great way to start your investing in wealth journey. While the New Jersey tenant laws are often not in the landlord's favor if you follow the rules and regulations you can still get a tenant out in 2 months or less for non-payment. Plus if the tenant is in your building that you are currently living in you have advantages that other landlords do not. 

    Buying property in New Jersey it's often a wealth and equity play not necessarily cash flow unless you are using a specialized strategy like short-term or midterm rentals or renting out by the room. 

    You should also consider the difference between using FHA versus low down payment conventional. There are clear differences and advantages/disadvantages 

    Quote from @Brandon Zarin:

    Hello everyone! I did a new member intro maybe a month ago, and haven't been as active on BP since I run a mobile detailing business out here in NJ and have been slammed for the summer months. I am currently in college and very interested in getting into REI. I am in a local networking group where I have a few REI people, and that's how I discovered BP and the podcast, which I have used as my main resource.

    I am very interested in House Hacking, as I feel that'd be my most realistic way to get started. Anyone who has done this, could you share your thoughts, advice, etc.? In NJ, the market is extremely high, which is my biggest concern about getting into it. I have built good credit, which I know is useful. Thank you everyone!


    0Reply
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