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My First Flip - nearing the finish

By Jim Albano

Real Estate Agent with Prudential Damiano Realty

June 10, 2008 02:58 PM

Here's an update on the Clifton NJ house.

It's been a long haul for Rich and I trying to balance our regular jobs as full time real estate agents and working on this flip. But we're starting to see some light at the end of the tunnel. The house is really starting to take shape. Here's a shot of the newly completed exterior of the home, with the exception of final landscaping and a few finishing touches.

Here's the new kitchen still needing some finishes - countertops, appliances etc. But the transformation is incredible.

And here's a view of the new master bedroom with the walk in closet that we put in.

Interior painting will be completed by this weekend along with light fixtures, bathroom fixtures, and trim.

Next week will be hardwood flooring for the first floor and carpeting for the second, appliances for the kitchen, the countertop, and landscaping. Once this is complete, it goes on the market.

I'll keep you posted and post some final finished photos.

Thanks for visiting. Please take a minute to sign my guestbook.

39 E. Main St.

Little Falls, NJ 07424

973-256-0303 ext 218

www.yourhomenorthjersey.com

www.montclairbound.com

www.northjerseycondos.com

Comments(43)

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Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Frank - Thanks, it is satisfying. It'll be even more satisfying when it sells!

Jul 21, 2008 02:27 PM

David W. Bolick

Network Real Estate, Inc. - Little Rock, AR

Jim...unbeliveable job! Congratulations! Reminds me of some flips some of my clients have done but they went overboard in relation to what they paid. I'm a firm believer in making a budget from the beginning and sticking to it. I hope you make a killing because you're quality looks like a work of art!

Jul 22, 2008 12:48 AM

Michael "Mike" Miller

EXIT REALTY SERVICES - Moon Township, PA

My service will move you! Help me, help you!

Jim, Congratulations on nearing completion of your first flip. My partners and I have bought 5 properties together so far. But rather than flip any of them, we've been renting them. You might want to consider keeping a few down the road once you've made some money on a few flips... Mike

Jul 23, 2008 01:17 PM

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

David & Mike - Thanks for your kind words. The flip is actually complete and the home is on the market.

See: http://activerain.com/blogsview/581182/My-First-Flip-The

for pictures of the finished product.

As for a few rental properties - that's our goal down the road. Right now it's about building some much needed capital while putting out a great product.

Jim

Jul 23, 2008 01:28 PM

Linda Sticklin

Home Staging & Organizing - Berwyn, PA

I love older houses that have been updated, so your gets an A+ from me. Glad to hear that staging will be part of your marketing plan! I just met with a "flipper" that has completed a similar project and is convinced that staging will be an important part of marketing the property...Another smart investor!

Jul 27, 2008 12:02 PM

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Linda - Thanks for your comments. As I mentioned above to Mike & David, the project is now complete. Take a look here http://activerain.com/blogsview/581182/My-First-Flip-The for the finished product. And yes, staging completed the look of the home.

Jul 27, 2008 01:02 PM

Lisa Roy

SPACELiFT HOME STAGING, Greater Vancouver - Vancouver, BC

Are you going to stage your property? The reno's look great and the property deserves a homey touch!

Sep 30, 2008 02:13 AM

Kris Ontiveros

Team Ontiveros - Phoenix, AZ

You are at the point where you need a new project! Finish that baby, get it on the market and keep the momentum going! If you always have a house in escrow, in process, and for sale you can make it a HUGE business! Good luck selling that beautiful home!

Oct 07, 2008 05:02 PM

Jerry Hill

Hill Realty - Bryant, AR

Great looking house for your first flip. I am interested in getting into flipping property. What do you anticipate to be your net return on your investment?

Nov 10, 2008 12:56 AM

Frank Torre

Torre Inspection Service, LLC 888-202-8869 - Hicksville, NY

Hi Jim, I hope you make a lot of money. You guys did a great job with the house.

Nov 20, 2008 03:45 AM

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Andy - Thanks, appreciate the compliments.

Lisa - Yes, we staged the home.

Kris - We've always got our eyes open for the next one. We're set to close on this one next week.

Jerry - We're looking at about a 30% ROI.

Frank - Thanks!

Nov 20, 2008 01:26 PM

Dona Reynolds

Berkshire Hathaway Home Services Stein Summers - Saint Joseph, MO

St. Joseph MO

Jim-I love to do flips, be doing them for years. Something about just taking a UGLY house and making it in to a home (for someone) Your flip looks good.....one suggestion you may think about is a crown molding on the cabinet tops, it really ties the cabinets together and adds the "custom" touch.

Nov 23, 2008 12:05 PM

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Dona - Thanks for the comments. It sure was satisfying to see the transformation. It'll be even more satisfying when we see the check! As for the aforementioned crown on the cabinets - check out this post with pictures of the finished product: http://activerain.com/blogsview/581182/My-First-Flip-The-finish-line

Thanks Again! - Jim

Nov 23, 2008 12:24 PM

Dona Reynolds

Berkshire Hathaway Home Services Stein Summers - Saint Joseph, MO

St. Joseph MO

Jim-Great job! That house will sell very quickly, you have done an outstanding job

Nov 24, 2008 01:56 PM

Jim Albano

Prudential Damiano Realty - Little Falls, NJ

Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Thanks Dona! We're hoping for a closing by the end of this month...we're just inches away!

Dec 20, 2008 01:21 PM

Justin Ukaoma

Vizion KC - Kansas City, MO

Kansas City Real Estate Investments

It's looking great I hope that it sells quickly for you.

Feb 09, 2009 03:26 PM

Rhonda Hay Rawlins

Glastonbury Home Staging - Glastonbury, CT

Jim - really nice job. It looks terrific. It is so satisfying to bring a house back to life isn't it? I recently staged a flip and the seller got 4 offers in for weeks. I was thrilled. I love staging flips. Good luck for a quick and profitable sale.

Apr 07, 2009 07:57 AM

Dan Dunleavy

Florida Suncoast Property Management, LLC - Venice FL - Glenmoore, PA

Hey Jim. Fantastic job on the improvements! You picked a real winner with excellent curb apeal.

One suggestion to consider is adding a swing to the porch. It is a nice touch and doesn't cost very much.

I hope you do well with selling it quickly.

Oct 18, 2009 12:54 PM

Heather the Realtor Orlando, Lake Mary

LemonTree Realty - Orlando, FL

First Time Home Buyers, Bank Owned Homes

Jm the house looks great but where are the before pictures thats always my favorite to see how far a property has changed and what a little paint can do to a house.

Feb 13, 2010 01:53 PM

Tori Toth

Tori Toth, International - Howard Beach, NY

888.667.6643 NYC & Beyond, HSR, SAR, RESA, LIBOR

It looks good! Did you stage it?

Aug 12, 2010 06:29 AM