Newbie investor in Newark NJ

[Sandy Boateng]

Hi BP, My name is Sandy and I'm a new investor looking to begin my journey by purchasing a 3-4plex home by August of this year and house hacking for the first two years as I build my portfolio with additional multi families. I've read a number of REI books and listened to many BP podcasts and am finally looking to take my initial steps by ensuring I buy it right going in. My goal is to acquire a 50-100 unit apartment complex in 5 years (over ambitious but willing to put in the work). Newark is an emerging market located 20 mins away from NYC and as a current resident I am aware of the progression and improvements being made in the community. I'm looking to connect with any REI in the area and join REI groups if available. Any advice rendered will be greatly appreciated!

[Omar Ismael]

Welcome to Bp. If you are gonna be house hacking I can recommend  a small  bank out here in New Jersey that will give you half of your closing cost as long as you are buying in an area that has more than 1/2 of the population Black  or Hispanic . You could buy up to a 4 unit. You don't have to be low income buyer to qualify . This program is for first time home buyers