New member North Jersey-not sure if I'll become an investor soon

[Mario Gutierrez]

Hello all, 

What a great site and community!  I am a non-profit professional who is relatively new to real estate investing. I've been reading the articles, listening to the podcasts, and even keeping track of opportunities to get a good sense of what makes a good deal or not. 

I currently rent, and live in an extended family household. By the end of next year, I will have enough for a 3.5% down payment for a home in our town in Fair Lawn, Bergen County (mainly for the school district). However, after being exposed to this and other resources, I'm thinking that those savings could make a good 20% down payment further south in Jersey or even out of state. My thinking is we continue renting and create some cash flow with an investment property. The family would prefer if we had a home of our own and unfortunately there aren't many multi-family homes for house hacking in this town, unless I'm not finding that. 

Anyway, I'll keep saving and learning until I have enough for either way. Feel free to provide any insight on this choice I have. All the best to you all and may you find success!

Best, 
Mario  

[David Michael]

Hello @Mario Gutierrez   ,

Welcome to BP!! I believe northern jersey is still good enough to purchase a duplex to take advantage of the house hacking capabilities. Although south jersey has bested numbers I believe the value in northern jersey being close to NYC allows rental properties to flourish.