All Forum Posts by: Neel Save

@Neel Save Hey Neel, Agree with the folks here, house hacking the way to go. 400k in those markets is going to be tough unless its in disrepair or in tougher location. There are other areas in NJ that could very well fit the mold you are looking for though depending on your criteria. Happy to discuss or assist further.

Hi Joseph,

Thank you for your note. I am looking at some houses and definitely seems difficult to find something in my range. I will send you a message to discuss more.

Thanks!

0 Votes

Jersey City, New Jersey

Quote from @Aj Parikh:

Hi Neel, since you mentioned turnkey, are you open to exploring turnkey properties in the midwest. I have a portfolio set up in Cleveland and would love to chat if that is something you want to do.

Hi AJ,

I have a hybrid work schedule so I am not looking to move to another state at this point but I will keep you in mind in case things change.

1 Vote

Jersey City, New Jersey

Quote from @Vanessa Ivonne Hernandez:

I know a realtor who specializes in commuter towns. I can send you the info if you're interested. (I'm not associated with this realtor, I found them on Instagram)

Hi Vanessa,

I would love to connect with the realtor. Will send a message separately.

0 Votes

Jersey City, New Jersey

Quote from @Shawn Mcenteer:

Hi @Neel Save house hacking is great way to go, it’s what got me and my wife to financial freedom in Norther Jersey. Being close to transit lines is smart, we especially look for that in all of our properties. Turnkey and under 400k will likely mean headaches long term, to find a property that low of a price range turnkey means you are in an area that are likely a warzone. Something about NJ that remains true are the towns with lower price to entry tend to also be the town with the strictest rent control and land lording laws. So finding your property for under 400k is possible but managing it and being a successful landlord after you move out is not easy. Entering a higher price range and being open minded to renovating may sounds like a difficult task at first but I can say it is one of the fastest way to financial freedom when it comes to house hacking in New Jersey.

Hi Shawn,

Thank you for the response and the insight.

0 Votes

Jersey City, New Jersey

Hi All,

I am looking to buy my first home as a house hack with the goal of staying there for 1-2 years and then find another place for house hack. Currently, I am looking at Journal Square, Harrison but I am open to areas like New Brunswick. I wanted to create this post to get insights from the community and fellow house hackers in the area. As of the house itself, I am looking for something that is turnkey and under $400,000 purchase price.

Thanks, in advance!

2 Votes

Jersey City, New Jersey

Quote from @Bob Stevens:

Quote from @Neel Save:

Quote from @Bob Stevens:

Quote from @Kevin Forsell:

I'm saving now for an investment property, but I live in Jersey City, NJ. Duplexes in the area are minimum 500k, and need a lot of work. Should my first property be a local investment or should I look in a more affordable area?

Context: I'm 33 and make good money at my FT job (Netting around 9,000/mo), and I'm not willing to move away from Jersey City. I currently have about 10k aside for my real estate investment journey. I have a good agent in the area (who also invests) and he suggests I save 50k in order to purchase a property with HFA, house hack, and have some reno budget. I really enjoy my FT job, so I don't mind spending 2+ years to save the 50k and learn more about investing. What are your thoughts?

Heck you can get a duplex for about 110- 125k with rents of 850/850 1k /1k in other markets, and never have to do a darn thing

All the best

Hi Bob,

Can you please list of 3-4 markets?

Several cities in OH, You are two years away, but then you will still not be a cash buyer, that will 100% limit your ability to get great deals,

All the best

Thank you. I’ll check those markets.

0 Votes

Jersey City, New Jersey

Quote from @Bob Stevens:

Quote from @Kevin Forsell:

Heck you can get a duplex for about 110- 125k with rents of 850/850 1k /1k in other markets, and never have to do a darn thing

All the best

Hi Bob,

Can you please list of 3-4 markets?

0 Votes

Jersey City, New Jersey

All Forum Posts by: Neel Save

Neel Save has started 1 posts and replied 7 times.

Post: House Hacking in NJ with public transport options

Post: House Hacking in NJ with public transport options

Post: House Hacking in NJ with public transport options

Post: House Hacking in NJ with public transport options

Post: House Hacking in NJ with public transport options

Post: Start locally in an expensive area or long-distance in an affordable area?

Post: Start locally in an expensive area or long-distance in an affordable area?