All Forum Posts by: Eric S.

I'm very much new to this but would be interested in something like this

@Ryan Goldfarb I'd be happy to grab a beer somewhere and talk. Always looking to learn more.

@Jonathan Greene how can you totally keep tenants from finding out you own/manage the property? Unless I get an external manager to handle it and buy it through an LLC? I feel like if I were to manage it they will still knock on my door whenever they want.

Thanks for the suggestions, I actually never thought about doing a short term rental instead of regular yearly rentals. Will definitely look into that! 

For my first property I was considering doing a "house hack" and buy a multi family in Jersey City/Bayonne. However, I've heard plenty of "horror stories" about tenants not paying rent and just squatting, being destructive, etc etc. Since New Jersey is very tenant friendly, my budget isn't going to be cover downtown, and I'm also going to live in part of the building I was wondering what people do or have done to protect yourself as the landlord. I would also like to know if you have had great experiences because I may just be focusing too much on the negative. 

Some areas I was looking to buy were: JSQ, Bergen Lafayette, the Heights, and Bayonne. I'm quite a while off from buying but really want to be prepared for when I am.

Thanks for the comment!

I've since had to move out of downtown because rent prices are crazy! JC is investing a lot in the JSQ area I believe, with the new Journal Squared and the soon to be built One Journal Square. 

Hi everyone,

My name is Eric, I'm a NJ native (originally from south/central jersey) living in Jersey City (JC). I'm a Software Developer/Web Developer by trade, working in NYC. A few years ago I moved to Hoboken and really fell in love with the area. After a few years there I moved to JC and discovered all the amazing restaurants and shops and community that it has to offer. Investing in real estate (or really any kind) only become a real focus of mine this past year but I have ambitious goals. I listen to all sorts of podcasts, read articles and books all trying to get a handle on my financials and set myself up for the future. Real estate seems like a great method to put my dollars to work while building equity.  

My goal is to become mortgage neutral with my investments. By that I mean, own enough properties that the cash flow pays for my own mortgage. I was considering "house hacking" for my first property in JC and then either continue buying properties in JC or other states. I plan to buy my first property, wherever it may be, by next year and am here trying to prepare myself for that purchase. 

That about sums it up, if you have any questions feel free to drop a line :)