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Updated almost 9 years ago on . Most recent reply

User Stats

28
Posts
17
Votes
David Shulski
  • Accountant
  • Selden, NY
17
Votes |
28
Posts

Long Island - First flip

David Shulski
  • Accountant
  • Selden, NY
Posted

Pulled the trigger and purchased my first house to fix up and sell.  I've done construction in the past, so I'm putting in a lot of sweat equity because I'm not that familiar with costs, and I'm just nervous.  I don't really hear people talk to much about finishing touches on here.  So i guess I'm looking for some advice on is how to do that.  What colors are most popular, should you put molding on the ceiling, should I wire the living room for surround sound, etc...  What really stands out to buyers.  Any advice from people who have done this would be much appreciated.

Details, if you're interested

Bought the house cash (personal funds) for $175k and at closing, the bank put up the first 11 months of real estate tax (short sale).  Not totally sure why, but I know I'll never get that lucky again.  It's a 3/1 that I'm converting to a 3/2.  Comps tend to go between 280-320 in the area.  Thanks for reading.

Most Popular Reply

User Stats

28
Posts
17
Votes
David Shulski
  • Accountant
  • Selden, NY
17
Votes |
28
Posts
David Shulski
  • Accountant
  • Selden, NY
Replied

The house is in Center Moriches.  I've put a ton of work into it so far, and I figure I have about 6-7 weeks of work left on it (doing 75% of the work myself).  This experience has taught me much more than a book, blog or podcast ever could.  

Chris, what type of Real Estate are you looking to get into, something similar?  I keep a lot of tools at the house and it is unoccupied a lot, so I'd be a little skeptical of bringing strangers there but I wouldn't be against it if you want to meet up for a cup of coffee first.  

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