Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Local Real Estate Networking
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 11 years ago,

User Stats

41
Posts
17
Votes
Kenneth Wong
  • Bronx, NY
17
Votes |
41
Posts

First renovation - OMG

Kenneth Wong
  • Bronx, NY
Posted

I have an option to buy (for $11,500) an attached 2 story brick (2br, 1ba- 864 sq ft, with basement) as a complete gut renovation in Newburgh, NY. I really liked the idea of a smaller unit as my first real property renovation for resale, and anticipated ripping everything out to the studs on both floors and then rocking from basement up. I had originally thought each building was a standalone four sided brick building attached to each other, and I was hoping the electrical was OK, but I did not anticipate having to re-framing the entire flat roof!

So today, I finally got into the building and OMG.....the roof collapsed on the building next door, and standing in the small living room and kitchen, you can see into the other building. I took a peek through some boarded up windows, and realized the identical half building is a shell- no roof or floors.

It appears that the original builder built a brick rectangle 32 x 50 (next to a third brick building), and then split the box into two 2-story buildings- I want to own the left side. So standing in the living room of the unit I’d like to buy, the wall that separates the other building was actually about 6-8 inches of wood lathe and plaster- not a brick wall. What a disappointment, but that’s a gotcha…

Here is my question: how do you frame half of a 32 x 50 brick shell, when you only own half of it? The side that meets my neighbor is open to the elements, since there is no roof, or floors (see below).

The unit I seek on the left also needs a complete new flat roof, second floor, first floor.

When I got home, I did some research, and I have located the owner, and placed a call to him to find out what he plans to do with his half- perhaps I could buy his side…

The easy answer is to just walk away, but that is not my style, and I love challenges, and I'm open to cutting my losses when necessary.many areas

Here is some info on myself: I have renovated all of my previously owned homes, collectively: “100” squares of pitched roof, 1000s of square feet of oak flooring, tiling, 300+ sheets of wall board and Durock, plumbing and gas lines, so I am not exactly a newbie. I have done some light framing in vaulting a master bedroom, but never a flat roof from scratch, or a 2 story building from basement up. My preference is to hire a contractor for all of the framing- if it is even practical. To be fair, my spouse is leaning towards walking away from it…

I look forward to hearing from some of you with more experience. Cheers.

Loading replies...