New Jersey House Hack

[Kj Lee]

Hi all! 

I’m currently living and renting in Manhattan. My lease is up in December of this year and I want to purchase my first property in New Jersey (House Hack). Preferably somewhere that allows me to get into Manhattan easily. Does anyone have any lenders they would advise for me to speak with? Does anyone have any markets in mind? I’m thinking of purchasing a single family and renting out the rooms, but open to all suggestions!

[Daniel Gonzalez]

@Kj Lee Do you have a preference on how you get to NYC, Bus vs Train? 

There are many towns that have a direct train to Penn station and attract many renters because of it. You should look into Essex, Morris, and Bergen counties for towns with trains into Penn. Hudson County is also fantastic due to its proximity and the availability of buses to get you into the city. The rental market in Hudson County has taken a small hit due to the pandemic but is still very strong. 

I have a househack in Essex county and take the train every morning into the city. Aside from all the snow lately, I usually get into the city within 30-40 minutes. It really isn't bad especially since it's a direct train with no transfers. 

In regards to a lender, I've used @Drew Walls in the past, he was great and easy to work with. PM if you want more info. 

good luck.