House Hacking/Finding Properties

Brandon Zarin · 2026-11-13T15:45:06-08:00

Hi everyone, my name is Brandon Zarin, and I'm 21 years old from the North/Central Jersey area. I'm interested in investing in Real Estate and ideally starting out with House hacking. I feel I am running into a few issues in my head and would love some advice from others. How do you find properties? I know the MLS is huge and Zillow (maybe?), but I don't have access to the MLS, and I'm not sure how great Zillow really is for looking around.My income and, specifically, getting pre-approved for a mortgage on a property. I currently run a small mobile auto detailing business out here, but I'm not making insane money, per se. I say this because I have heard that banks/other companies usually look at your income, and I don't think I make enough to be approved. I feel I am running into the scenario of "How much do I need to buy?" Obviously, depending on the area, but I am scared I don't have enough saved at the moment to make a down payment and cover any other expenses all at once. I guess for this I should wait a little longer to save up more?Any tips for analyzing properties/deals out there? Any advice or help on this would be greatly appreciated. Thank you for taking the time to read/comment. I'm grateful for any help.

Ryan BakerBusiness Member

Lender · Strongsville / Cleveland, OH · Member since 2026 · 176 posts · 48 votes

1d

Zillow can help you spot listings, but I'd also ask an agent who works with house hackers to set up MLS alerts and narrow down neighborhoods that fit your budget. For a self-employed borrower, the lender will usually review tax returns and business records, so ask early what documentation they need before you write offers. Keep room in your budget for closing costs, repairs and reserves rather than using every dollar for the down payment. Happy to walk through it, give me a call (my number's in my signature below).

– Ryan

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Brandon Zarin
OP
New to Real Estate · Bedminster, NJ · Member since 2026 · 12 posts · 11 votes
4h
Thank you, Ryan!
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Harrison C.

Member since 2017 · 122 posts · 63 votes

1d

Brandon, on finding them: Zillow and Redfin show nearly everything the MLS does, so you are not missing much. Save a search for 3 and 4 bedroom houses with at least 2 baths in the towns you would live in, and look at every new one for a month. You will learn the prices faster than any course will teach you.

On income: when you run your own business, a lender mostly goes by what your tax returns show for the last two years, not what came in the door. So file every year, and talk to a loan officer now even if buying is a year or two away. They will give you the exact number to work toward. Also look up the New Jersey Housing and Mortgage Finance Agency. It has down payment help for first-time buyers.

On the numbers: if the plan is to live in one bedroom and rent the others, look up what single rooms rent for in that town on Facebook Marketplace and Roommates.com, not what whole houses rent for. Add up the rooms you would rent, take off the utilities since the owner usually pays those in a shared house, and see how much of the mortgage payment is left for you.

Before you fall for a house, call the town and ask how many unrelated people can live in one. New Jersey towns can be strict about that, and the answer decides whether the plan works at all.

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Divin KanyamaBusiness Member

Accountant · Seattle, WA · Member since 2025 · 704 posts · 299 votes

1d

@Brandon Zarin welcome, and good on you for starting early. For finding properties, a good agent is the easiest fix for no MLS access. They can set up alerts that email you the moment something hits, and Zillow and Redfin pull from the MLS anyway, so they're fine for browsing. Focus on 2 to 4 unit properties so you can live in one unit and rent the others.

On income, self-employed is usually workable, it just means more paperwork. Lenders typically want a couple of years of tax returns and look at net income after write-offs. With house hacking, they can often count part of the rent from the other units too. Talk to a loan officer now, even if you're not ready, and ask what you'd need in a year or two. It costs nothing. For how much you need, FHA allows around 3.5% down on owner-occupied small multifamily, and New Jersey has first-time buyer assistance worth looking up, but budget for closing costs and reserves too.

To analyze a deal, run rent against the mortgage, taxes, insurance, repairs and vacancy, and be conservative. NJ property taxes can be big, so check them on every property. A good house hack has the other units covering most of your housing cost. Get an inspection on anything serious. This is general info, not advice for your situation, so confirm the details with a lender. Good luck!

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Marc MoraPro Member

Investor · Fort Lauderdale, FL · Member since 2026 · 303 posts · 48 votes

12h

@Brandon Zarin, I'd talk to a lender before looking at more listings. A pre-approval puts real numbers on how much you need, and with income from your own business, most lenders want a couple of years of tax returns, which may set your timeline more than savings. I've done house hacking and I'm open to talking strategy with you. Has the detailing business filed two years of taxes yet? Where do you want the first house hack to lead, strategy-wise?

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Sal Bossio

Member since 2026 · 14 posts · 2 votes

11h

Brandon, one piece on the down payment side. Lenders want to see where that money came from, so keep your savings in a personal account and not mixed in with the detailing business account. Most will want a couple months of statements and will ask about any big deposit that isn't a paycheck or an obvious payout. Cash sitting in a drawer is hard to use, so get it into the bank early. If family chips in, gift funds are often allowed on owner occupied, but it takes a letter and paper trail, so ask the lender. And on a 2 to 4 unit they usually only count part of the other units rent, ask how they handle it.

Loan officer at Barrett Financial here, fwiw.

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Dan Duenas

Lender · Irvine, Orange County · Member since 2026 · 83 posts · 47 votes

6h

Good questions, and you're asking them at the right time — before you buy, not after.

On the self-employed piece: this is the one that trips up a lot of first-timers. A regular lender qualifies you on your tax returns — net income after write-offs, usually averaged over two years. So if you've been writing off a lot of business expenses (which every detailer should), your paper income looks a lot smaller than the money actually coming in, and that shrinks what you can borrow. Two things worth knowing: first, some lenders can qualify you on bank statements instead of tax returns — deposits, not write-offs — which can make a real difference for a self-employed borrower. Second, if you know a purchase is coming in the next year or two, talk to your CPA about how aggressive to be on write-offs. There's a real tradeoff between the tax savings now and the loan you qualify for later.

On down payment: for a 2–4 unit you live in, FHA is 3.5% down, and NJ has first-time buyer assistance programs on top of that. You still need closing costs, reserves, and a repair cushion — the down payment is only part of the cash you need. Don't drain yourself to zero to get in the door.

On finding deals: Zillow/Redfin will show you almost everything, but a good agent who works with house hackers is still worth it — they can set up MLS alerts and, more importantly, tell you which towns are friendly to unrelated roommates (some NJ towns are strict on occupancy) and which ones aren't.

You're 21 with a business and you're doing the homework. Talk to a loan officer now, even if you're a year out — you'll know exactly what number you're working toward. For primary-residence loans in NJ I work through my manager (I'm licensed in Nevada for primary), happy to point you in the right direction if you want — Dan

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Masoud ArouniPro Member

Investor · Pleasanton, CA · Member since 2026 · 127 posts · 54 votes

4h

Brandon, two things I didnt see covered above that matter for you.

First, renting rooms in a regular 3-4 bed house wont help you qualify. Lenders usually dont count roommate rent as income. On a legal duplex, triplex or fourplex they will count part of the other units rent. With a small business and low tax return income, thats a big difference, so look at 2-4 units before single family.

Second, nobody gave you an actual cash number, and you asked for one. Down payment is only part of it. On something like a 450k duplex, 3.5% down is about 16k, NJ closing costs maybe 15-20k, plus a few months of payments in reserve. Rough total is 45k, not just the down payment. FHA mortgage insurance also stays for the life of the loan at 3.5% down, and you have to live there at least a year.

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Abel CurielBusiness Member

Real Estate Agent · Queens, NY · Member since 2016 · 2k+ posts · 1k+ votes

1h

Hello @Brandon Zarin

See answers below:

How do you find properties? I know the MLS is huge and Zillow (maybe?), but I don't have access to the MLS, and I'm not sure how great Zillow really is for looking around.

The best way to get access is by hiring a buyer's agent. There is typically no upfront cost for hiring a buyer's agent. You only 'pay' commission upon a successful sale/purchase of a property and that commission is usually included in the sale price.
Furthermore, hiring an experienced buyer's agent who works with investors can get you access to off-market properties including 'expired' listings.
For now, Zillow, Realtor.com, Redfin will do but if you're looking to systemize your property search, hiring a buyer's agent is the way to go.

My income and, specifically, getting pre-approved for a mortgage on a property. I currently run a small mobile auto detailing business out here, but I'm not making insane money, per se. I say this because I have heard that banks/other companies usually look at your income, and I don't think I make enough to be approved.

Speak with a lender with experience working with investors. Depending on your target price point, recent income history, and investment strategy, there should be multiple options for you to consider.

I feel I am running into the scenario of "How much do I need to buy?" Obviously, depending on the area, but I am scared I don't have enough saved at the moment to make a down payment and cover any other expenses all at once. I guess for this I should wait a little longer to save up more?

Save as much as you can. Speak with a lender who can help you set a gameplan for a future investment.

Any tips for analyzing properties/deals out there?

Look at recently sold properties and rented apartments. This will give you comparables to match up with any properties you're analyzing.

Consider using the BiggerPockets calculators. This will be one of the more efficient ways to run numbers on properties.

All the best!

Abel

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