All Forum Posts by: Joseph Foley

I don't know Worcester well, but i'd probably start near a place like Worcester Polytechnic Institute and drive around until things start to get less nice, then start writing down candidates.

I see you're from Stoneham.  Out of curiosity, why are you going all the way to Worcester rather than, say, Lowell?

Hi folks,

Not sure if this is the right forum for this question.  If it's not, i'll move it elsewhere.

I'm dealing with the sale of my childhood home in a very old area in Setauket, NY on Long Island.  The house needs a lot of work to be sold as a viable home.  It's a pretty good target for a flip if my mother were willing to put some significant elbow grease in.  But for various reasons, she isn't interested in taking on that risk or work.

Houses on this street have gone for more than 1m several times. Those that have are fairly old - 1880s - but in very good shape.

Before we attempt to sell it to a third party, I'd like to find out if there are any restrictions on us demo'ing the house completely and starting over.  It seems to me that a modern home with high end finishes has a chance to sell for over 1m, which would net significantly more than selling to a flipper.

I don't really know where to start to figure that out.  Anyone have any suggestions?

Joseph

(Please, no knocks.  My mother won't appreciate it and unscheduled attempts at access will end or prevent a deal).

4 Bedroom/2 Bath potential flip in what was recently called the happiest place on Long Island.  Just a few houses up the road from Setauket Harbor and the local beach.  1 BR on the first floor, 3 on the second.  Extra wide fireplace.  Original doors and trim.  Original floors.  Original plaster in many places.  Recent natural gas boiler and hot water heater.  Natural gas in the kitchen.  All new roof on house and garage including plywood about 7 years ago.  Basement has 12ft ceilings.  Excellent school system.

Garage was a 4 bay carriage house, half of which is still garage space. The other half was professionally converted to a 1 loft BR/1 Bath apartment with a galley kitchen, high ceiling and a skylight which is now configured as an artist's loft/workspace.  Rent was about 1000$/mo as of 6ish years ago.  Cable and electric are separate, kitchen was removed at the request of the town, but none of the plumbing was touched as far as I know.

3/4 acre plot.

Two houses at the end of the block went for just under 1m and just under 3m in the last few years.

Interior pictures available for serious buyers.  Prefer cash deal.

Thanks everyone!  I'm not going to be able to get to the Chelmsford rei group this month, but i've added it to my to do list.  

Hey folks,

I'm a newb originally from Long Island, currently residing in north eastern Massachusetts.  I am a software engineer by undergrad degree and trade and i've got a JD hanging on my wall that I don't use for much more than experiments in how temperature variations effect dust collection rates.  My wife and I have talked quite a bit over the years about branching out into real estate investing, with no firm plan.  With the recent death of my father, we suddenly have to help my mother prepare my childhood home for some kind of sale so she can move closer to the rest of the family.  

The state of the house and the area its in make that more interesting than you might think, so I've been doing a lot of reading and research about investing hoping to come up with a strategy for moving forward with it.  I've joined Bigger Pockets hoping to get some advice and to continue learning so that once this house is settled I can help my mother invest the somewhat significant funds my father spent decades mattress stuffing.

I look forward to meeting the community!

Joseph