house hacking in central NJ/NJ Shore- anyone out there?

[Alison Niko]

I'm in Aberdeen NJ- looking to get my first deal as a multi family property house hack, open to having to rehab it, in process of getting approved for mortgage now. I plan on using FHA loan and living there. Any person with experience in this area, or even anyone looking for a partner or someone to network with, I welcome it! Everyone I know buys real estate to live, not for investing... Need some like minded people in the mix.

Thx for reading.
ali

[Brett Baginski]

Hey @Alison Niko !  Welcome to the forum.  I really like the Aberdeen/Matawan/Keyport area since you are close to the train station and I've seen great improvements in those downtown areas over the years.  House hacking is a great way to get started, but the competition on multifamilies is fierce!  I looked for about 6 months and couldn't find anything that met my numbers so eventually bought a single family down in Ocean County where it made more sense for me.

Keansburg was mentioned, but from my experience that is a risky area.  I haven't driven through in a few years, but last time I did, it wasn't a pretty sight.  I heard from a local agent/friend there's a big drug problem there, and troublesome especially for rehabs, where people may break into the house and steal whatever they can find.  But I'm sure you know this being a couple towns over.  Big shame too, I used to always go to the Keansburg Waterpark as a kid growing up, but that was probably 20-25 years ago.

Best of luck!