My First Flip - The finish line!

By
Real Estate Agent with Prudential Damiano Realty

It's finally here - we're finished! 3 1/2 months later and a lot of time and effort invested, my partner Rich and I have completed our first renovation project - the Clifton NJ house. We had our first Open House today and had a great turnout. About 20 groups (yes groups) of people came through. Not bad for not having advertised, just directional signs and some flyer's hand delivered to neighbors. While many of the visitors were neighbors, the turnout was fantastic and we were very pleased. So without further delay, I present our finished project.

Here's the front of the property new sod and all!

Here's the kitchen with maple cabinets and stainless appliances. Does anyone remember the hideous green cabinets from my original post on the house? A bit of an improvement if I do say so myself!

The formal dining room view from the kitchen and the beautiful hardwood floors.

The dining room from the living room.

The living room - again the hardwoods.

The master bedroom with terrific walk in closet.

The entrance view from the living room.

Here's the bottom line on this project as many of you have been asking about our expenses and how we were doing with our budget. Our original renovation estimate was for $45,000. We're approaching $65,000. Unanticipated costs included a new heating system, a new central air system - we weren't originally planning on central air but re-thought our plan, all new windows - we were only planning on replacing a few but they were all bad, higher than expected plumbing and electrical costs, and a lot of miscellaneous expenses that really add up. We are marketing the home for sale at $439,000 and think we are competitively priced in the market, especially since everything in our property is new. I'll keep everyone posted on the progress of selling the property. Now it's time to start looking for the next project!

For more information on this listing, please visit my website:

www.yourhomenorthjersey.com

39 E. Main St.

Little Falls, NJ 07424

973-256-0303 ext 218

Mobile: 862-686-0229

 

 Update..........Closing day is finally here.......Sold!!!!

Comments (19)

Debbie Malone
Londeree's Real Estate & Property Management - Lynchburg, VA
From Lynchburg To The Lake (434) 546-0369

Jim, what a great renovation- this looks like a charming home and I hope you have an offer on it soon.

Jul 06, 2008 02:46 PM
Cindy Marchant
Keller Williams Indy NE 317-290-7775 www.marchantteam.com - Carmel, IN
"Cindy in Indy" , Realtor, Fishers Real Estate

I went through all your posts on this topic...looks like a lot of work.  Congratulations though, it look great.

Jul 06, 2008 02:57 PM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Debbie - Thank you and I hope you're right.

Cindy - Thanks for checking out the progression. It was a lot of work and I appreciate the compliment.

Jul 06, 2008 03:17 PM
Sam Miller
RE/MAX Stars Realty - Howard, OH
Knox County Ohio Real Estate Specialist

Jim - Very nice looking photos and it looks like a job well done.

Jul 06, 2008 03:19 PM
Debbie Small
Long & Foster Realtors - Martinsburg, WV
REALTOR

Beautiful finished product. Wish I could see the before. Good luck!

Jul 06, 2008 03:28 PM
Bill Dunn
Elite Realty Group - Paducah, KY

The house looks great!

The bed in the master bedroom looks like it's floating.  :-)

Jul 07, 2008 03:15 AM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Sam - Thanks for the compliments and for visiting.

Debbie - Ask and you shall receive... here's the link to the before pictures:

http://www.activerain.com/blogsview/434295/My-First-Flip-The

Bill - It does look like it's floating - I promise it's not

Jul 07, 2008 02:25 PM
Drew Knapp
goodideazs, LLC - Montclair, NJ

Jim,

Congratulations on your excellent work, it looks like you did a beautiful job with the interior. 

I hope though that you didn't eliminate the fireplace as you mentioned wanting to do:

http://www.activerain.com/blogsview/434295/My-First-Flip-The

as it looks to have been one of the few authentic details left from the original construction, which appears to have been a craftsman bungalow  from around 1915, with fireplace constructed of rounded river stones, which was typical of the era.

It would have been nice if you had been able to recapture a spirit of authenticity on the exterior as well - did you think of consulting an architect with expertise in historic preservation?

( for example:

http://www.agreatertown.com/montclair_nj/lineworks_architecture_and_design_000703 )

Greetings from Montclair,

Drew

Jul 08, 2008 02:48 PM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Drew - Thank you. I'm very happy with the way it turned out. We did eliminate the fireplace. It did nothing for the house. It looked horrible in person, had an undersized firebox, was in an odd spot (dining room), and really took away from the usable space of the room. You'll be happy to know that we were able to garner information from the neighbors that the fireplace was not original to the house, in fact it was added sometime in the early sixties. The home looks much better without it. We don't have it listed on the MLS yet, but if you'd like to take a look I'd be happy to show it to you. Maybe you'd even have a buyer....

Jul 09, 2008 08:44 AM
Drew Knapp
goodideazs, LLC - Montclair, NJ

Thanks for the response, Jim!

Actually I am working with a buyer who would love it, but she's looking in a lower range.  In the meantime,  I'd like to invite you to list it for free on our community marketing site, A Greater Town.

You can also post your profile as well.

Hope you will join us there!

Best of luck,

Drew

 

Jul 09, 2008 09:02 AM
Mike Mitchell
Real Living Kee Realty - Saint Clair Shores, MI
REALTOR (R)

Jim, that looks really nice. You did a great job of staging it also, the pictures look great. I would love to flip a house one day, I really feel I would be good at it. Best of luck to you, and hope you get a quick sale!

Jul 09, 2008 09:21 AM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Drew - Thanks again. You can still see it even if you don't have a buyer for it right now. Hey, you never know.

Mike - Thank you. I've wanted to do this for a while now. Lucky for me, I found a great partner to work with. Hopefully there will be more. It's a great feeling bringing a distressed property back to life.

Jul 09, 2008 02:47 PM
Wendy Casey
A-List Home Staging & Decor - Surrey, BC

Congratulations on your first flip. It looks very inviting and homey...won't be long before you have a buyer!

Wendy Casey - Vancouver, BC

Jul 11, 2008 08:20 AM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Wendy - Thank you so much. I hope you're right.

Jul 11, 2008 04:00 PM
Jerome (Jerry) Donahue
Prudential McHugh Realty - Maple Shade, NJ

Great Job on the rehab the pictures are great. Good luck

Jul 13, 2008 11:49 AM
Jim Albano
Prudential Damiano Realty - Little Falls, NJ
Team - Jean-Marie Vantuno / Realtors North Jersey Real Estate

Jerry - Thanks, I appreciate that.

Diane - Rich and I did the initial walk through and then brought in a contractor that we know. It was all of the additional items that we didn't expect to replace that helped drive up the number - new heating system and adding central air was big, additional electrical that we didn't count on, all of the windows had to be replaced when we originally thought only 2 or 3 needed to be, and a lot of incidentals really added up. All in all, we should still be ok.

Jul 14, 2008 02:13 PM
Joseph Welusz
QuoteMatcher.com - Evesham Township, NJ

It's important to choose the right contractor. Take a look at this link to compare contractor estimates in your area. NJ Basement Contractors and NJ Kitchen Cabinet Installation

Jan 24, 2010 02:56 PM
Jeremy Butts
Real Estate Entrepreneur - Louisville, KY
Investor

Great job. congratulations!

Mar 09, 2010 04:20 AM

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