All Forum Posts by: Lisa Mejias

Hi Leslie! Fellow Mom and house hacker here in North Jersey. Bloomfield is a great market for this strategy. I will say you absolutely have to make sense of your numbers and planning for future investment opportunity. While you live in a duplex house hack you will most likely not cash flow. It should be cash flow positive once you leave the property, again you must know how to properly run numbers. Bloomfield does have high rents however there a pockets that are still not up to the standard yet. I was raised and lived in Bloomfield majority of my life. Happy to help you analyze if needed.

Hi! Would this be your first fix and flip? Have you given any thought to buy and hold properties in your area? Somerville is a great area, diverse and attractive to renters. Killer downtown, restaurants and close proximity to a reputable hospital. 

Hi Lindsay! Well, what's it worth to you? Personally I have chosen to get licensed to do my own deals while also having an interest in working with other newbie investors in my state find FI through real estate. I felt a deep need to have more control over my future in real estate, this is one of routes I feel has more advantages for me. I don't think it hurts to invest in yourself. I'm sure other people on here may stress the importance or value of having an experienced agent.. what it boils down to is how you want to allocate your time/energy.

Hey there @Annaliese Sanchez! I currently house hack in Essex County and the communte to the city is reasonable (about 30min). I agree with @Shawn Mcenteer, attending local meet ups is a great way to meet investors like yourself whether new or experienced. I personally gain valueable info and make connections each time I have attended. Have you looked at towns like Belleville, Bloomfield and surrounding areas? 

Hey there @Harry Arnold! Thanks for this post. I'm sitting in my first and only MFR house hack with my 4 year old and 4 month old (literally strapped to me now) my husband and I recently purchased. So far this journey has been a great learning experience but in no way is it easy, nor did I expect it to be. As of now were are still working on the property, not yet rent ready. I left my job to focus on building this business and start a career as a real estate agent. Most days feel wild with two young kids and zero help. I know this is all worth it but the road to success isn't smooth!

Hi there! I currently house hack a two-family in Essex County New Jersey which is about 30 minutes from the city. I think you should be looking at Essex County and Hudson County. Bloomfield in particular has gone through an amazing transformation and has attracted many NYC residents and commuters. I'm sure it's important for you to live near the train I would look at town that has direct access into the city. 

Honestly going through eviction is a costly process. I'm sure the courts are backlogged with evictions. I think the question you have to ask yourself is it worth your time and money? Have you entertained the idea of cash for keys?

I had this set up with tenants I inherited. It can be a bit of a pain to remind and chase after water bill on a quarterly basis however, I personally recommend keeping the bill in the owners name. If a tenant is set up under their name and they neglect to pay it is still your responsibility. Better to have control over it and provide your tenants with their usage yourself. Don't rely on tenants to do whats right by your property, put it in the lease.

Have you contacted other attorneys? I go by the rule of 3.. call around gather as much info as you can to make an informed decision.

Hey Daniel, I am currently house hacking in Essex County with my husband and two small children. Would this be your first investment? You mentioned you have a significant savings, how you given thought to the rehab cost? If you are doing most of the work yourself (like we are) and living in the property do you feel you'd have more advantages knowing the area or starting somewhere new?