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Updated over 4 years ago,
House Hacking in New Jersey/NY
Hi all!
I am still fairly new to the Bigger Pockets community (although created one post before) and I started looking into House Hacking.
Little background: I've been working for 2 years now and wanted to start my real estate journey! I already have been looking into buying a rental property out of state but in the mean time I decided to see if it made sense to house hack here in NY.
Looking at listings, I am considering buying a SFH or MFH (if possible) around Jersey City, North Bergen, Union City.
I'd like to use a FHA loan but from my understanding some condos are not FHA approved which makes the search a little bit harder.
Union City looked like a good option to me but it seems that the rent control might be an issue.
North Bergen has some choice of SFH within my price range.
For info, my price range was set ~400k (I know that's not a lot). I am not necessary looking for a profit as I house hack, I know that it is very hard, if not impossible, to find properties that cash flow in the NYC.
I'm looking for some advice on how feasible it is to invest in these areas and how I can narrow my search down. Appreciate the help! :)