house hacking in NJ or Nassau County

[Andres S Menendez]

Hello Bigger Pockets peeps!

I am ready to throw down in a house..

Have about 133k Saved in total.. thinking about throwing about 120k down which will include the closing cost

will leave me with 13k in reserves and counting since Im still working.. Im saving 2-4k a month if overtime is there. so I will have way more than 13k in reserves when i finally close on a home. Basically saving my pennies and wearing old clothes. 

I aspire to own multiple properties in the future but i think if I househack, even if i get no cashflow and have to pay part of the mortgage, I can save for another few years and have another downpayment and able to buy another 2 family or even a triplex. Plus i get the landlord experience. It's a long grueling few years of working overtime as much as i can but Im pretty determined to eventually cashflow.

I could save another few years but me and the girlfriend want to move in together. We currently living with our parents to save money. 

My Question is do you guys recommend NJ, westchester/NYS, long island?

I've tried the 5 boroughs but they are very expensive, 700k to 1 M.

has to be in close proximity to nyc since we are working/schooling there. 

[Erik B.]

you are in a great spot with those savings and well on your way. Keep being frugal and living below your means!

You could take that money and buy multiple properties in another state that cash flow. Or you can try and house hack here in NY. I can only speak to the market on long island and it is very hot and competitive. Any property that is in decent shape and "normal" under 500k doesn't stay on the market more then a few days.

You can make a house hack work to lessen your payment or almost live for free but IMO their will be very little appreciation as i feel we are at the top of the market.