All Forum Posts by: Carmella Schwab

Hi @Mark Dresdner what a great question! Each town has their own landlord laws, zoning and personality! Did you say an asset class or price point? In Hackensack, just across the river from Teaneck, I watched a 2 unit sell for over $660,000 last year. 

I love driving through the Teaneck area! Can't quite afford to invest there yet. My partner and I have been writing offers for Summit, Montclair, West Orange, and Bloomfield. We were trying to house hack but may have to reassess because it's been fast paced and competitive even with the rough shape houses. 

Bergen County has a free networking session every month if you're interested in meeting locals who know the area! Sedona Taphouse at 6pm tonight 1/15. 

Hi Ryan,

Primary residence is what I was advised for my house hack. Even if it's only for a year, it is your primary residence. As long as it's a 2-4 unit house. Also, I didn't end up finding my lender online but word of mouth after a few meetups and talking with others investing in real estate. Online is a good place to start but maybe keep asking around! Best of luck! 

Hi Marvin,

How long have you been writing offers and are you focused on one town/city area? 

I could say the same thing after spending 2019 writing offers that may have been over asking but sellers chose lower cash offers to accept for these 2-3 family units. I'm in the tristate area so it's been fast paced even in the winter months. 

Just gotta to keep calculating and offering until it works out. Best of luck!  

Between now and putting a down payment on a first house hack (within the next 6-12 months) what type of account would you recommend to hold money?  This account would be separate from investments & retirement savings and specifically intended for the down payment so it should be liquid enough to access and hopefully more than 1% interest.