Rental Property / Househack in Bergen County, NJ

[Johnny Kim]

Hi!

I've went through a pre-approval from different lenders and it looks like I'm eligible to purchase up to 760-780k depending on the property that I buy.

My gross income is about 119k / FICO 750-770 / paying student loan $560/mo

I'm looking for an advice to purchase a property in Bergen County, NJ - specifically leaning into Fort Lee & surrounding areas.

I prefer to purchase a multifamily property but it looks like my purchasing power is a bit out of a reach in Fort Lee.

I'm also starting to learn that Fort Lee is not a good rental investment area with my purchasing power.

My main intention is to get somebody to live with me so it lowers my monthly payment, rather than creating a massive cash flow or return ATM.

So I'm also open to buy a single family house that can have a solid layout for a room or basement rent.

The fact of the matter is, I'm really not sure about the housing market in Bergen County and NJ in general so please give me a tip/info/advice!

Thanks