New Investor Looking for Advice in a Competitive Market

[Amil Muminovic]

Hello, my name is Amil. This is my second post in the "Starting Out" Forum so I will keep it short and sweet. I am 25 years old and from New Jersey. I have a W2 job as a Project Engineer and I have a background in Construction. 

As some of you may know, New Jersey has become one of the most expensive housing markets in the US. I have been trying to get into Real Estate Investing for almost a year now. A lot of people I've been speaking to about it have been recommending me the House-Hacking method. While I think this would be an ideal situation (move out of my parents' roof, get equity, and maybe even get some cash flow, sounds like a no brainer), it seems a little out of reach since the market is so competitive right now! It seems like multi-family units are on everyone's radar since there is a lot of opportunity with them due high rent prices. 

I am looking for advice on starting my Real Estate Investment journey in a competitive market. Any recommendations on my path forward? Is it worth pursuing a House-Hack in a single-family unit? What is the best way to get my foot in the door on a decently priced multi-family unit? 

Thank you for taking the time to read this and I look forward to connecting with you.