My promise to you in 2018. . . NO MORE BORING VIDEOS! I’m going to make it my top priority to show you how to yield the best results in our Hudson County Market.
Given that 1 in 5 of my clients are interested in real estate investment, i figured i would LITERALLY put my money where my mouth is. So i decided and flip a home and bring you all along for the ride!
The first rule of real estate is that the location of the property is paramount in mitigating your risk. I chose a property in a good central location to New York City transportation. There are two bus stops, a light rail, a path station, and now there’s a new restaurant called Road that was just put in, making it a pretty hot up-and-coming spot.
“One man’s trash can be another man’s gold.”
To see the property and learn how one man’s trash can be another man’s gold, skip ahead to 1:15 in the video. Despite its ramshackle appearance, I believe there’s a lot of value in this property.
We bought it for $315,000, and—factoring in the $110,000 for renovation, $25,000 for financing costs, and $5,000 for tax and utilities—the target sale price was a conservative $600,000. The total project is projected to take from nine to 11 months. Wish me luck!
If you have any questions about flipping or real estate in general, please reach out to me. I’d love to help you out.
