Exiting a House Hack Deal at the Jersey Shore

Exiting a House Hack Deal at the Jersey Shore

Investor · Manasquan, NJ · Member since 2019 · 70 posts · 38 votes

In Spring of 2023 we closed on and began renovating our duplex in Point Pleasant, NJ at the Jersey Shore. It came out beautiful and was a relatively smooth process. We lived there for about a year and after dipping our toe in the house hacking space its just not working for our family. We found 2 amazing tenants that are paying top rents in the area and made the property truly TURN KEY for the next investor. 

My Question: We have now essentially created a unicorn in the market and the sale of this property will certainly create alot of equity for the other dated duplexes in the market. We are providing alot of value to the next buyer and would like to maximize that value when we sell. I think our ideal buyer would be someone looking for a 1031 exchange or a private equity real estate group or a large private investor. 

What is the best way to connect with these types of people and provide them with the value that we are offering. Our duplex in a shore town is truly a unique opportunity for any cash buyer!

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Member since 2019 · 30 posts · 24 votes
1y

Can you convert it to a condominium and sell each half independently?  The demand is so high in point Pleasant that I would think you could sell it pretty quickly.

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  • Member since 2019 · 30 posts · 24 votes
    1y

    Can you convert it to a condominium and sell each half independently?  The demand is so high in point Pleasant that I would think you could sell it pretty quickly.

  • Anthony DiSanzoBusiness Member
    Real Estate Broker · Monmouth County / Ocean County / Middlesex County · Member since 2023 · 28 posts · 14 votes
    1y

    Hi Richard, one of My offices is located right in Manasquan NJ -- Is the home in Point Pleasant Beach or Boro? If you want to message me, I would be happy to talk through some options with you.

  • Shawn McenteerBusiness Member
    Realtor · Boonton Township, NJ · Member since 2013 · 2k+ posts · 1k+ votes
    1y

    Hi @Richard Phillip Lewis not sure if what I do can even be of help in your situation, I specialize with selling multi Family properties.  Especially ones with tenants in them since it is much different process compared to selling traditional real estate, it is extremely specialized.  My question is why are you even thinking  about selling?  Most of the time in situations like what you are describing there are creative ways to get out of your house hack and purchase a new property with very little money down. Are you sure selling makes most sense for you having what sounds like such a powerful asset?

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