• Wappingers Office
    (845) 297 4700
    (845) 297 8178
  • Lagrange Office
    (845) 485 2700
    (845) 485 2703
  • New Paltz Office
    (845) 255 6163
    (845) 255 6757
  • Commercial Real Estate Division
    (845) 297 4700
    (845) 567 8333

Joseph Pettinella's blog

Mansions & Castles of the Hudson Valley

The Lyndhurst Mansion is highlighted in this video, which is the first in a series of 3 videos of the major mansions, or castles, along the Hudson River in New York's Hudson Valley.  The history of this region is so interesting!  When the video finishes, you have the option to view the 2nd and 3rd videos of our local 'royalty' and how they lived.

Beacon New York - Art, Music, Eateries & People

Watch the video for a look at the town of Beacon New York, its people, and its charm.  From unique gift shops, to art galleries, music stores, bars and restaurants, to it's scenic surroundings, Beacon is a gem of tradition and pride.

 

Thinking About Flipping Houses? Five Things You Need To Know

If you are thinking about taking up house-flipping, there are 5 key concepts you need to know like the back of your hand.  House flipping is a lot of work, but if you're up for it and you do it right you can make some good money.  You just need to be smart, have a good business plan, and stick to it.  Emotions are not valid here . . . if a project does not fit into the financial framework, then pass on it.  You're doing this to make money, right.

#1 KNOW YOUR FINANCES

Determine what you can spend on both the house and the renovation, down to the last dollar.  Price out the cost of carrying a short-term loan (if you need one), taxes, utilities and maintenance on the home for about 6-12 months, depending on how long the renovation will take, and the average time it takes to sell a property in that community and that price range.  Price out the cost of materials and labor.

Study all the comparable sales in the same neighborhood and price range, to determine what the likely sales price will be. If you can't make the money/return that you expect, then pass on the house.  Remember that there are often unforeseen issues that can add to the cost, and if you are running tight on the front end, it could lead to a disappointing financial result when you sell.