All Forum Posts by: Michael Kovacs

Hi All,

Looking at a SF home in New Jersey with Multifamily potential based on the layout.

- Basement/ground level (half is underground since it is on a hill) has separate entrance, kitchen, full bath and living space but I don’t know if it is legal, I requested the permit history from the town

- First level would just need a shower to add to the current 1/2 bath

- Stairs to the second level are directly in front of the entrance door so it would be simple to make a separate entrance to first/second level. Second level needs a kitchen has a full bath

Currently zoned for single family only, would need a variance to convert. It has so much potential but I feel like there are a lot of road blocks to make it legal. Any suggestions or experience with something similar in the past? I only saw the property just yesterday and in this market need to move fast. I want to finally make my first investment purchase!

I have been trying to find an investment property in Central NJ for over a year. Multifamily, single family with separate living options, etc. looking mainly in Piscataway, Middlesex, Edison area. Had offers in but always get outbid or they chose a cash offer in this market. I feel like I need to find something off-market but not sure how to go about it, does anyone have a property they are looking to sell in this area? How do I find people who would sell to me?

Thank you Michael!

Hi All,

My name is Mike Kovacs and I've lived in Central NJ my whole life (just turned 26) and originally from Franklin (Somerset) NJ. I am currently a Senior Engineer at L'Oreal in Clark, NJ also where I am currently renting with my girlfriend of 5 years. 

I'm new to BP and have been researching REI for about a month or so. A close college (Rutgers) friend of mine has been buying houses in Morristown, NJ with his brothers and got me interested in REI. I've been reading books, listening to podcasts, and watching YouTube videos over the past month or so. Now looking to talk to real people and learn about other's experiences.

I want to stop renting and start building assets and equity in Real Estate! The biggest driver for this is actually my parents, and they don't even know it. Growing up and still to this day they live paycheck to paycheck and I've made it my goal to change this trend. I was the first to graduate college in my immediate family but I don't want to stop there! Looking forward to making some connections!

Thanks,

Mike

Hi All,

I'm new to BP and have been researching REI for about a month or so. Looking for others who have had success house hacking in central NJ (specifically close to Clark, NJ where I work). What are some areas you would suggest to look into and realistic numbers I can expect in this market? I want to stop renting and start building assets and equity in Real Estate! Looking forward to some feedback!

Thanks,

Mike