All Forum Posts by: Lisa Alexander

@Kevin Hill Thanks for your response.  That is much of what I was thinking as two properties I was interested in were basically off market in a few days.  I have a number of alerts now set up so hopefully can jump on something quickly, but am also a bit hesitant of those town that don't have many multifamilies, and am trying to gauge the strength of the rental market.

@Darren Sager Thanks.  This is some of what I was thinking as well, as I'm trying to gauge the strength of the rental market and potential returns in a town that has mostly single families.  Appreciate the responses!

Hi - my husband and I are looking in for a house hack in Bergen County NJ. We see some houses in areas like Midland Park, Tenafly and Ridgewood, which don’t have huge multi family markets. Does anyone have experience with house hacks in areas like these?  I’m wondering about the vacancy rate for areas like these. Any thoughts would be helpful!

@John M Chludzinski Great points!  I will keep this in mind as well.

@yavuz 

@Yavuz Bayram Thanks for your response and agree those are good questions.  We would want to buy something within the next year really and so will have to consider what we'd do if the prices went up another $100k.  We're not really on a forced timeline - we're renting now, and have a young son, and so want to be in and out of the house hack by the time my son is ready to attend school (he's 1 now), so we can settle somewhere more permanently.  

Overall, if we can make the numbers work, for a cash flow positive investment we are more flexible on the price.  So I am also taking that into consideration.

btw - notice you're in Hackensack.  That's one of the areas we are looking!

@David Czech Thank you for your response.  That makes complete sense and what I was thinking.  Albeit I'm a little disappointed because I wanted to start sooner, but agree the prices now make the timing not quite right.

Hi - I am a newbie investor looking for my first property.  Currently live in North Jersey and my husband and I would like to house hack for a year or so before fully renting it out.  Since June or so, the prices here have shot up - from what i can tell most I look at are around $100k + over the value they were the beginning of this year.  

 Right now I am thinking we wait this out, but wondering what those familiar with this market are thinking about the prices and how that impacts investment opportunities?  Do you think house hacking is possible in this market?  Do you think the current values are sustainable or will they go back down in a few months or so? 

Obviously no one knows for sure, but would love to hear some thoughts around this.  I'm currently taking the approach of continuing to keep an eye on the market and analyzing investment opportunities, but thinking next year is going to be more likely for an investment timing wise.

Thanks!

@Jonathan Greene Can I be added to your weekly virtual meet up for North Jersey?  My husband and I are in the process of securing our first multi family property.  Thank you!

@Jonathan B. i'm looking through threads as my husband and I are just about to get started with a similar house hacking plan in the south Bergen County or Hudson County area.  how did this turn out for you guys?

@Christopher Merriam thanks for this information. I am also looking at Rutland potentially and interested in a STR with a Airbnb focus. Do you have any thoughts on how the area is for STR and during ski season?

Hi everyone - I am new to real estate investing, and am looking to purchase a property in the Hudson Valley area of NY ideally to be used as a short term rental primarily.  Any thoughts of exactly where to start here?  I have been looking at properties and also going to use Mashvisor to give me a start at my analysis and some initial guidance as I begin to really dig in.  We are hoping to find a place that is primarily used for the airbnb/vbro market.  Right now I'm stumped on how exactly to get started.

Would you suggest working with a local agent to find a property?  Any thoughts here would be helpful.  From reading through the forums I know there is a wealth of knowledge and experience on this site.

Thanks!