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Asked by Margaret Reardon, East Brunswick, NJ Fri Nov 9, 2007

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Deborah Madey, Agent, Brick, NJ
Fri Nov 9, 2007
Flips are possible in any market. In a market that is appreciating rapidly, the tide of the market can cover for many mistakes or poor judgement calls of the investor. In a fast market, the low inventory and automatic increase in value compensate for less than prudent purchases, miscaluclations in labor or material, or improvements made that do not coincide with buyer preferences.

We are not in that fast market, now. Flips are still possible and profitable. As a investor, their is less room for error, because you don't have the tide of the market to cover these mistakes. There are opptys to purchase below market value, and they can go undetected. I have seen properties that present excellent oppty simply sit, even to the amazement of some of my collegaues and myself. You can't just buy anything and hope it will work. In today's market you can find opptys with motivated sellers. You can find properties that have the ability to be transformed to meet the needs of typical buyers today. You will spend more time doing research, studying the comps, and need a savvy eye.
1 vote
Dr Cheng, , Centrual New Jersey
Sun Dec 23, 2007
Here is how you would do a safe flip in East Brunswick where its High School won #1 in New Jersey Science Competition on Biology won over hundreds of all other high schools in NJ.

You go to a builder to try to buy, say, 10 or dozen condos left over at once, at great discount, then you get it nicely decorated, with recess lights, GE Stelless appliance, granite counter top, hardwood floors ...etc, then you go to Queens to place ads in Chinese ads, and bring many Chinese buyers over to East Brunswick, or just listing with Gold medal realtors like Linda Chang, Ching Liang, Virgina ... of 2006 (yes! 2006, there are no buyers? how did they make gold metal?)

You are going to be able to get good price because of school, school, school ... You do not make money from buyer, buyers still pay market price, your profit came from "volume deal" and come from "builders" who want to give up some of their profit.

And, who knows, you make that community HOT! e.g. Teck bought 3 condos at Maple Woods from builder and get good discount, and his action trigger many to buy, and Maple Woods at Piscataway sold 54 condos in past 2 and half months, and the sales office told me that they became the hotest community in Central Jersey... and they sold out in many phases, not many left. But don't for got Piscataway High School got 10 #1 in FBLA competitions in NJ win over hudnreds of all other high schools, and went to Chicago and beat up 40 other states #1 and step into final and got the plaque back in 2007 summer. School, School, School... as you will.

Another one is Centerplace in Edison, Oh! I can believe my eyes, long line waiting to buy, why? it is right next to Middlesex County College where Middlesex Academy of Science based that won #1 on NJ Science League Competitiion in Physics won over hundreds of all other high school teams in NJ. So, School, School, School again.

I think if you pick other town than East Brunswick, I would not be so sure. Another big factor is that East Brunswick and Edison and Piscataway ... has huge Chinese, Indian, Korean ...etc, and their currency went up on US Dollars a lot, and many of them will come to US to buy, and in Greater NYC area, they will come to Chinatown, Queens, 8th Ave at Brooklyn, Emhurst... where lots of Chinese, Indian,..etc, but in NJ, they will come to Edison, Piscataway, East Brunswick ...etc. where there are Chinese Supermarket, Chinese church, Chinese school, Indian street, ....etc.

So, go ahead to flip and you will make some quick money from foreigners whose make 5 to 10 times on real estate profit like in China in addition to currency, so they would not be hesitate to let you flip.

Oh, do not forget Europeans came to buy out condos in Manhattan, and Manhattan condo sellers will flood into New Jersey, so you will see many New Yorkers coming over soon, so after sold their million dollar condo, they shall be generous to let you flip as well ... (read the web references to get first hand info from New York Times).
0 votes
Marc Paolella, Agent, Succasunna, NJ
Sun Dec 2, 2007
Very true John. And as far as the comment: "East Brunswick is a highly desireable neighborhood, and that is anywhere in East Brunswick", well, there are areas of Alpine, Saddle River, and Mendham that are tough sells, no I don't think East Brunswick is immune.

I think Heaven itself has some dicey areas. Probably close to the gate for example.

0 votes
John Sacktig, Agent, New Jersey, NJ
Sun Dec 2, 2007
What ever you do, do not listen the the you can't go wrong message below.

You can go wrong.. really wrong if you buy a house that can not sell because of location. In this market to take a turkey off someone's hands and try to flip it.. it may be a bad move. Be smart, do the math.. it is all about the math and then about reality of where is it located? location, location, location
0 votes
ian cockburn, Agent, New Orleans, LA
Tue Nov 27, 2007
To help with your possible flip, take the numbers I have on the "investors" page on my website, and see if they can work for you...then take the improvements and price the big items such as mechanical or electrical upgrades, and adjust upwords for East Brunswick.
Web Reference:
0 votes
, Both Buyer And Seller, Buffalo, NY
Tue Nov 27, 2007
East Brunswick is a highly desireable neighborhood, and that is anywhere in East Brunswick, wether its a 1/2 a block from Rt. 18 or a 1/2 a mile. You need to do your numbers on paper and be realistic about your expense and re-sale price, and you will be able to make it happen. Location is very important in flipping, and in East Brunswick, you can't go wrong. Make sure to buy the home way below market value, so that you can protect yourself from a bad flip. Any other questions, feel free to email me
0 votes
John Sacktig, Agent, New Jersey, NJ
Sat Nov 17, 2007
Does it make sense? Can you buy the house for 200k and is the market in the flip area selling around 350k? o.k.. how much do you need to spend? do the math.. contact a good realtor and discuss.
Flip or not.. Bad market or good.. a good house, update in a good location will sell. period.

Common sense - a house 1/2 block off route 18 - bought cheap and turned into a granite showplace is always going to be a house 1/2 block off of route 18. You know?
0 votes
John Sacktig, Agent, New Jersey, NJ
Sat Nov 17, 2007
A flip in any area is kind of tough right now. In East Brunswick, I know the market, and I have not seen a property that would be a good flip. People are being picky at this time and you can end up holding for a while. I have two clients that are in this position now they bought two flips in East Brunswick and we just rented them out.

I am in the area and know the local market very well... call me and we can discuss what you want to do.


John Sacktig
Broker / Sales Associate
Coldwell Banker
Web Reference:
0 votes
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