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Forum » How easy/difficult is it to learn how to renovate and old apartment?
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Thread: How easy/difficult is it to learn how to renovate and old apartment?

post 1692100893 10-22-2023, 08:54 AM
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How easy/difficult is it to learn how to renovate and old apartment?

Thinking to buy a 2 bedroom condo in NYC...renovate it, and rent it out. It would be a long term investment. Would need to learn how to install vinyl flooring, make the walls nicer (paint/install that detailing that goes between the top of wall and ceiling) tile floor for bathroom, renovate bathroom, etc. Can you do it by looking up youtube videos?

this is a steal!

https://www.zillow.com/homedetails/1...88584522_zpid/
(these are my opinions i am not a licensed broker by trade)
post 1692100973 10-22-2023, 08:56 AM
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not that hard to hammer in a screw or drill in a nail
post 1692101003 10-22-2023, 08:57 AM
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Thats cheap, mirin. Do it
post 1692101093 10-22-2023, 09:01 AM
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same building this one is renovated already.any NYC bros know how washington heights area is?

https://streeteasy.com/building/1993...york/63?card=1
(these are my opinions i am not a licensed broker by trade)
post 1692101143 10-22-2023, 09:03 AM
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Depends if you have a lot of free time or work a primary job. I know people who buy houses to reno and it takes them years to get anything done
post 1692101493 10-22-2023, 09:15 AM
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Its been listed for 4 years. There's a reason nobody has purchased it yet. 700 a month HOA? lol. Now back to the original question, all that stuff is easy as fuk.
post 1692101533 10-22-2023, 09:17 AM
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I know I can buy houses on Zillow but let’s say we’re looking for undeveloped land to you know? Psu extension campus with a Florida university

Where do I go to look at large plots of undeveloped land in Florida?
post 1692101663 10-22-2023, 09:20 AM
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Originally Posted By Mrstealyogurl89⏩
Depends if you have a lot of free time or work a primary job. I know people who buy houses to reno and it takes them years to get anything done
Agree. You can learn how to do most of it, except things like the granite countertops. That requires a pro. The materials are actually not that expensive. But it's still going to end up costing a lot of money and a whole lot more time. That place needs a full renovation. Im amazed at how cheap it is. Must be an absolute chithole area.

I would buy the one already renovated if youve never done this before. Its one thing fixing up a house in the burbs with a driveway and land. Working on an apartment 5 stories up in the middle of NYC? That's going to be a problem.
post 1692101683 10-22-2023, 09:21 AM
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Originally Posted By akferd⏩
Agree. You can learn how to do most of it, except things like the granite countertops. That requires a pro. The materials are actually not that expensive. But it's still going to end up costing a lot of money and a whole lot more time. That place needs a full renovation. Im amazed at how cheap it is. Must be an absolute chithole area.

I would buy the one already renovated if youve never done this before. Its one thing fixing up a house in the burbs with a driveway and land. Working on an apartment 5 stories up in the middle of NYC? That's going to be a problem.
the one thats already renovated looks like a good deal. Its risky buying these Co-ops tho. the building can hit you with a large assessment if they need to fix something.

This looks nice!
https://www.zillow.com/homedetails/1...06099861_zpid/
(these are my opinions i am not a licensed broker by trade)
post 1692101773 10-22-2023, 09:24 AM
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What’s the asbestos report say?
As
post 1692101883 10-22-2023, 09:27 AM
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Damn, that looks rough. OP if you buy it, I hope it works out.
post 1692102143 10-22-2023, 09:34 AM
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if it was that great of a deal, some developer would have already bought it.
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post 1692102343 10-22-2023, 09:37 AM
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Originally Posted By VegasLifter26⏩
same building this one is renovated already.any NYC bros know how washington heights area is?

https://streeteasy.com/building/1993...york/63?card=1
Dominican valley. Heavy gang area, but they're not bad like the gangs in the bronx. You'll probably never have issues collecting rent, if you dont mind having criminals as tenants. (Super Ded fkn Srs)
post 1692102393 10-22-2023, 09:39 AM
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It would take 10 years
To break even on your investment
post 1692102473 10-22-2023, 09:40 AM
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Originally Posted By VegasLifter26⏩
same building this one is renovated already.any NYC bros know how washington heights area is?

https://streeteasy.com/building/1993...york/63?card=1
Stabby. Also, renovations, especially in NYC are stupid expensive.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1692102533 10-22-2023, 09:41 AM
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Originally Posted By crupiea⏩
if it was that great of a deal, some developer would have already bought it.
This. People who do this for a living could flip that place in less than a month. And they havn't bitten in 4 years! Even before interest rates hit 8%. There's a good reason it's still for sale.
post 1692110983 10-22-2023, 12:40 PM
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Originally Posted By akferd⏩
This. People who do this for a living could flip that place in less than a month. And they havn't bitten in 4 years! Even before interest rates hit 8%. There's a good reason it's still for sale.
high crime rates, high interest rates could be making NYC apartments more affordable
(these are my opinions i am not a licensed broker by trade)
post 1692111083 10-22-2023, 12:42 PM
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Snap lock flooring, Home Depot cabinets, new outlets and lights, fresh paint

Not that hard can literally do that in a week
post 1692111103 10-22-2023, 12:43 PM
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I been thinking about digging a hole in this public land, turning it into a cave and renovating that



Also



Would bury
post 1692111203 10-22-2023, 12:45 PM
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Have LogicalLifts check it out for you, it's his building. He's in the basement.
post 1692111343 10-22-2023, 12:47 PM
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"buy condo, reno it, rent it out, etc"

yeah you skipped a bunch of steps that fall in between those.

if this is your first time renovating a place, i absofukkinglutely would not pick that one.

also keep in mind, it'll be 2-3x harder and at least twice as expensive as you think it'll be.

oh yeah, plus you have to learn how to do everything including countertops & beyond.
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post 1692115353 10-22-2023, 02:07 PM
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Originally Posted By GooBaaa⏩
Snap lock flooring, Home Depot cabinets, new outlets and lights, fresh paint

Not that hard can literally do that in a week
what is a good price to pay for high quality vinyl flooring? I heard you want to get it pretty thick if you dont want to feel those hollow spots
(these are my opinions i am not a licensed broker by trade)
post 1692115553 10-22-2023, 02:12 PM
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if youre older than 30 .... get someone to do it

if you are younger than 30 .... make sure you are experienced when it comes to plumbing and electricity else get someone else to do it
Cherish your life. Live to tell your story
post 1692115793 10-22-2023, 02:16 PM
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8% mortgages and we're still trying to play the BRRR game, lol.

The cash drain on both ends from mortgage payments + renovation costs will eat you. BRRR is about renovating and refinancing a property as quickly as possible to get out of the "Death Valley" of negative cash flow.

It's a gut job, and it's your first time trying to renovate a gut job, and you're not really sure if you have the skills to pull it off, and you would be just bleeding cash from reno costs and mortgage payments while you figure it out. This has all kinds of potential to go sideways.
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post 1692116243 10-22-2023, 02:24 PM
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Idk.. I feel like some stuff could be done

But then the other stuff requires licensing depending on what you do

You could also do this "off the books" but then if you go to sell it you'll have a legit inspection and then you'll have to fix that

If you were an electrician, you have to be a master to pull permits from a municipality to be able to do any work.. if you wanted it done legit
post 1692116283 10-22-2023, 02:25 PM
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Originally Posted By FA*******⏩
8% mortgages and we're still trying to play the BRRR game, lol.

The cash drain on both ends from mortgage payments + renovation costs will eat you. BRRR is about renovating and refinancing a property as quickly as possible to get out of the "Death Valley" of negative cash flow.

It's a gut job, and it's your first time trying to renovate a gut job, and you're not really sure if you have the skills to pull it off, and you would be just bleeding cash from reno costs and mortgage payments while you figure it out. This has all kinds of potential to go sideways.
i would be a cash buyer and i would live there until the renovation is finished
(these are my opinions i am not a licensed broker by trade)
post 1692119473 10-22-2023, 03:34 PM
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Painting is pretty easy, but a pain in the butt. Tile is not that hard, my ex and I tiled the kitchen/foyer and powder room in our first home together. He marked them and I cut them with the wet saw then he installed it and grouted it. If you are handy at all then you could definitely do it, it's just time consuming.
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post 1692121273 10-22-2023, 04:13 PM
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It’s super easy to learn on YouTube what people spend years in apprenticeship programs learning

Also real estate only goes up. Cost seg and refi to optimize your capital efficiency

Honk honk
post 1692122413 10-22-2023, 04:40 PM
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It’s been for sale for over 3.5 years. That’s Not a good sign
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post 1692122533 10-22-2023, 04:43 PM
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look at the HOA u dumbfuk

“ it’s a steal”


Go clock in tomorrow and forget about properties, you’re clearly going to fail
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