What’s up, everyone! Welcome back to another project walkthrough with Leverage Companies. Today, Matt Silva, our Head of Project Management, is taking you inside our latest fix and flip in Newark, New Jersey. This two-family home has quite a story—from being a total disaster to becoming a massive win for our team.
We picked up this property for $320,000 after negotiating a significant price reduction due to its condition. When we arrived, the building was fully occupied but in terrible shape—infested with mold and pests. To make matters worse, a pipe burst in the basement, flooding the entire lower level and requiring the fire department to shut everything down.
🛠️ The Renovation Strategy: We are doing a full renovation to bring this property back to life:
Layout Optimization: We’ve reconfigured the floor plans to maximize value, turning the upstairs unit from a 2-bedroom to a 3-bedroom, 1-bathroom apartment. Upgraded Amenities: Every unit is getting brand-new bathrooms, recessed lighting, and central air (HVAC). Adding Value: One of the biggest selling points is the massive driveway—a rare find in Newark that fits 4–5 cars. 🤝 The Impact: At Leverage Companies, we don't just flip houses; we help the community. The previous tenants were living in awful conditions. We were able to step in, help them find brand-new apartments, and provided them with cash for keys to ensure they could get back on their feet comfortably.
📈 The Numbers:Purchase Price: $320,000 Renovation Budget: ~$150,000 Target ARV (After Repair Value): $700,000+ Projected Profit: Over $150,000 We have 10 active projects right now and 10 more in the pipeline! Make sure to subscribe to follow Matt and the team as we transform more properties across Newark and New Jersey.
