House Hack or Rent in NYC

[Cole Britting]

Hi everyone,

Right now I go to school in Manhattan and would love to stay here after I graduate. I have real estate goals, and I've always thought my first step would be lowering my living expenses with a house hack.

In NYC, and more specifically Manhattan, is it possible to house hack effectively? Would I be better off renting an entire apartment/condo and doing subleases or Airbnb for the leftover rooms?

Also, are tax abatements just reductions in property tax? It's a term I've always heard thrown around with NYC real estate.

I'd love to hear thoughts on this, thank you!

[Shawn Mcenteer]

@Cole Britting you may want to consider house hacking in New Jersey.   Purchasing properties close to NYC direct transit hubs works well if done right.