Industry News

House flipper eyes first real estate rehab

Diary of a real estate flipper

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Dear Readers (and backseat drivers): I found the first house I want to rehab. Would you let me do it? It's a single-family house in Newark, which is the kind of property I want to specialize in; and it needs a facelift, which I think provides a lot of bang for the buck. On the other hand, it's in a neighborhood that's improving, but frankly, still marginal. Readers who want to play along can go to; it's #2083653. There are 250 properties listed on the MLS in Newark, but this was my favorite because (apologies to the owner and listing agent) it's so ugly. You can see it's situated on a corner, and I think it looks like it has two fronts. My idea would be to give it some exterior cosmetic love to create one more dominant façade – which I think would give you a more salable house. There's a magazine called Jane that's intended for women in their thirties; one of its signature features is a "makeunder," where they take a reader model and style her with a little l...