All Forum Posts by: Sal Orlando

Awesome! Congrats, Tyler! 

I am currently living in my first house hack and am on the hunt for my second property. Would you mind sharing how you found a lender to partner with that offers FHA loans for small multi family. It is a hurdle I am currently facing and would be a great help!

Thank you in advance and best of luck on the exciting move. 

Hello all, 

I currently own one duplex in south NJ and am on the hunt for my second using the house hack strategy. 

Does anyone have a mortgage lender who is willing to offer FHA loans for a 2-4 unit property in south NJ?

Would love to connect and see how we can help each other out. 

Thanks!

@Joe Martella Thank you for the recommendation. I will be sure to check them out and hope to see you at one of their upcoming events!!

@Jp Kilduff It was great meeting you! Thanks again for providing value on how I can get my first wholesale deal. Looking forward to next weekend. See you then!

Hello fellow BP NJ friends! 

I currently live in a house hack near Atlantic City NJ and will be closing on my second duplex in a few weeks. 

I am extremely passionate about discussing+learning about real estate. 

I am searching for any type of meet up either in person or online. I understand because of covid events have slowed down, but I am hoping there are other like minded people in the area. Can anyone share their favorite REI groups in the south NJ area? I am having a hard time finding info on planned meet ups.

Let connect! 

Thank you and stay safe. 

I just closed/moved into my first house hack last October in NJ. Two things that I do not necessarily regret but learned from that might help you. 1. Make sure you when you move out of your unit your cash flow goals are met along with you CoC return % goal. I was so blinded by the fact that I was cash flowing a small amount while still living here that after I move out the property I wont reach my CoC return criteria of 12%. It will still cash flow positive but lesson learned. 2. Do some shopping for lenders and insurance policies. You will be surprised how the numbers and cost involved differ from each. The more people you talk to, the better chance you have at finding the best rates for you.

Hope this helps. Would be happy to answer any questions to the best of my ability. 

My current plan is to buy a 3rd 2-4 unit before summer 2022. My current house hack is located in a shore town so I would collect summer rates after moving out of my unit. 

Thank you for your time insight, Karl! All utilities are paid by current tenants besides sewer. That’s a good call out. 

Yes. I used 5% across the board for everything listed besides property management since i will be handling that myself. 

Also, i see you’re in Collingswood. I grew up and still live in the south NJ area. Nice to meet you! 

I was in this same boat not long ago. I decided to "house hack" and quickly realized how beneficial it truly is. There are episodes on the bigger pockets podcast that can help further educate you. There is a few book and tons of youtube content as well. Educate yourself until you feel confident enough to take action. Best of luck!