All Forum Posts by: Shawn Mcenteer

Hi @Marcelo Murai what's stopping you from MTR in New Jersey?   It has been a huge success so far, some major rents being collected in NJ :)

Hi @Billy Miller what part of NJ are you in?   Ive  been house hacking in North Jersey for many years with my family, its been a fun journey.  Happy to connect. All the best

Hi @Weronika Jedrak please do me huge favor and speak directly to attorney that specializes in removal of tenants in NJ (particularly the county you are in).  Absolutely take no legal advice from anyone offering it to you on the forums, there is a lot at play here.  Every state is different and section 8 adds an entirely new element to this.  County to country can change significantly in NJ. 

Hi @Dave Tab yes for the low money down loans as far as I know you need to be able to show you are occupying the property.   

Hi @Krishna Rana House hacking is great way to go.  My wife I house hacked to financial freedom in a relatively short period of time.  Now we help others do the same in New Jersey.  House hacking still remains the unfair advantage in our market.  All the best 

Hi @Erik R Aho not sure if this is for you but house hacking has been the unfair advantage in the greater NYC area.  My wife and I started with about 100k in liquid cash, since then in a relatively short period of time we have acquired multi properties, businesses and have help other achieve similar results. House hacking new jersey is the main contributor for our success. With that being said very little of this at first had to do with cash flow,  equity is what got us to FI.

Hi @Jean Carlos Pichardo FHA is tough in all of NJ. Most listing agents train their clients to avoid FHA offers because of the extras that come with. Good news is low money down conventional mortgages are easy to come across. A matter of fact I have one lender that offers a low money down lown and NO PMI which is wild.

Regarding property itself, very tough to comment without know town and property.  I will let you know there are towns with extreme land lording laws in Essex county while there are towns with far more favorable laws.  My wife and I have collected every rent check for over a decade now, one of the reasons behind this is by avoid those less desirable areas. 

Hi @Adam Eckhoff 100k is what my wife and i started with in NJ.  We also had single family home which we ended up selling and purchasing a duplex.  We became house hackers and tuned the 100k into well over a $1million in a few quick years.   House hacking remains the unfair advantage to safely acquire properties at low cost to enter. 

Hi @Nicholas Keller if you would like to see house hacking first hand you are welcome to tag a long on showings.   This past weekend I had few new investors tagging a long with showings, nothing better then seeing properties live and learning from others. 

Hi @Jonathan Rivera I will let you know my wife and I have collected every payment of rent on our rental properties for over a decade now in NJ.  New Jersey gets a bad reputation because there are cities with extremely strict landlord laws, people invest in those areas thinking they are getting a good deal because the numbers "look good" on paper, long story short many of these areas are horrible places to invest with some of the strictest landlord laws in the world.  On the other hand  If you know the markets that are more favorable and attract high qualities tenants land lording can be very easy with little to no worries.