All Forum Posts by: Kay Lee

Interested. In Mount Vernon

Interested. When and where?

Are you looking for flips or buy and hold? 

I'm currently flipping 3 single families in NNJ. Springfield, Cranford, and Rochelle Park. 

Welcome to BP. South Bronx is indeed considered as next hot spot in NYC by many big developers. I'm sure you are aware of big developments along the river, but it will be a while to see that appreciation in that area. There are too many NYCHA projects and I believe thats the main reason why the property values are depressed in that area. I'm currently flipping 3 single family houses in NNJ, but I've been casually looking for multi-family buy and hold properties in S Bronx lately. Are you looking with a realtor? I'm looking for one, so if you know a good one, PM me.

@Ibrahim Hughes great thread. Thanks for sharing your progress. My partner, @Steve Buchanan and I are doing flips in the same area of NJ, except you are way more experienced. We will follow your thread closely to learn anything we can. Thanks. 

I'll be there.

@Will Barnard is right. You have to do your dd before you make an offer, and it will only help you when you are pitching it to the buyers. Good luck. 

It helps to know your market. Manhattan & Brooklyn, every neighborhood is different.

In TriBeCa, if done right, you can easily get$2,000 psf. So your arv of $5M is very realistic. I used to work for a boutique GC in the city, and I have done several high end renovations. If you already have an approved plan, next step is to find a good experienced GC and expeditor to streamline the process and minimize headache. You don't want to cut corners or skimp out when it comes to quality at this price point. People who buys $5m condo in TriBeCa will know quality work when they see it. Good luck. Looks like a very attractive deal. How did you find this condo? My partner and I are looking for something like this in the city. PM me if you have a specific question about construction.

I can probably make it depending on the location. Keep us posted when the location is confirmed. Hope to see you all there.