House hacking my way into my first home

[Jonathan Vargas]

Hey everyone, Im Jon

Im very new to the real estate and I am looking to learn as much as I can. I reside in Elizabeth, NJ area. I am highly interested in house hacking my way into my first home.

Im a full-time construction worker and NYC Real Estate agent as of last week. I got pro with the intention to analyze one deal per day from here on. I have 191 days 11 hours and 24 mins as im writing this post before i burn the boats and take the island (quit my job and go full time self employed). I understand I NEED to eliminate my biggest living expense which is renting. I’m currently renting a 2 bed flat for 1315 a month in Elizabethport and i want to house hack in Jersey City or in that first island of Jersey to be closer to work in NYC. I also understand the safest bet is find a property where i can handle the mortgage by myself if need be.

As i look and see the average payment at double where I'm currently at. I think I wouldn’t find anything near where I’m at, so I’m asking for guidance.

I’m building my credit,

And don’t have the money, I know that these are not deal killers for getting into Real Estate so I'm not worried.

I guess im looking for someone who took a similar path to compare notes with.

Thanks in advance

[Zierry Eme Carl T. Tagbas]

Welcome to BP, Jon!

If I were you, I would try to get into buying a property soon before you become a self employed. Are you thinking of house hacking a multi family property or single family house. Talk to a lender and see what your financing options are.

Best of luck!