All Forum Posts by: Shawn Mcenteer

Hi @Joseph Elci North New Jersey is where my wife and I got to Fi.  We purchased our first duplex in 2015 with $100k to our name.   With $400k  you can go far depending on strategy you implement.  NJ is great place to invest especially in terms of appreciation of property and rents.

Hi @Adam Pervez New Jersey has very high taxes, with that comes very high rents.  House Hacking in NJ has gotten my wife and I to FI in a relatively short period of time you can house hack anywhere in all honesty.  If you need to be local to NJ I would stay and reap the benefits of massive rent increases along with huge appreciation.  I

@Henry T. from what I have experienced NJ is fine if you know the areas to avoid.   NJ is horrible if your buying in certain towns.  My wife and I are over a decade now collect every payment of rent, never had a missed payment, never had an eviction.  self managing very easy with very few phone calls each month

It can be a Brrrr or very similar.  

Hi @Adam Eckhoff you can do it. Its called buying cash flow, nothing wrong with it.  I think other options can get you places much faster.  For example buy 300k property, renovate it (pay yourself essentially)  turn into 400k+ plus home, increase rents and cash flow.   I do this strategy all the time with multi family properties.  

For those looking to house hack in new jersey majority of deals still come from MLS with a portion of them coming off market, 80/20. I primarily focus on house hacking with a huge focus on multi family deals.

Hi @Marcelo Murai what's stopping you from MTR in New Jersey?   It has been a huge success so far, some major rents being collected in NJ :)

Hi @Billy Miller what part of NJ are you in?   Ive  been house hacking in North Jersey for many years with my family, its been a fun journey.  Happy to connect. All the best

Hi @Weronika Jedrak please do me huge favor and speak directly to attorney that specializes in removal of tenants in NJ (particularly the county you are in).  Absolutely take no legal advice from anyone offering it to you on the forums, there is a lot at play here.  Every state is different and section 8 adds an entirely new element to this.  County to country can change significantly in NJ. 

Hi @Dave Tab yes for the low money down loans as far as I know you need to be able to show you are occupying the property.