Portfolio

Kitchen Remodel with Expansion

»Posted by on Jan 14, 2015 in Gallery Construction, Portfolio | 0 comments

Kitchen Remodel with Expansion

Kitchen Remodel with Expansion Rehoboth, MA Kitchen remodeling is one of DiPetrillo Propertie’s specialties. We not only design the look and feel of the project, but we follow through with construction and design. Not only do we do the basic contracting, but we offer our clients interior decorating and furniture making as well. This project was comprised of all our services – right down to custom cabinetry built within our very own wood shop. Working hand to hand with our clients, our consultation and guidance allowed them to be a part of every step of the process. They were able to view on-site construction as it was happening, as well as see the actual fabrication of their cabinetry from a raw sheet of cherry to the finish product. By focusing on an elegant European traditional theme, this once closed in kitchen became a full entertaining great room allowing all their guests to participate while the host moved about the space. Kitchen Remodel Kitchen Remodel Kitchen Remodel Kitchen Remodel Kitchen Remodel Kitchen...

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REO or ‘Bank Owned’ Flip

»Posted by on Jan 14, 2015 in Gallery Investments, Portfolio | 0 comments

REO or ‘Bank Owned’ Flip

REO or ‘Bank Owned’ Flip Woonsocket, RI Risk Vs. Insolvent Town Status Participating in the “flip market” is not always as pleasurable as one might think and one shouldn’t enter into this kind of investment program with the assumption of great gain but rather with the more realistic expectation there may be great loss.  The unexpected can happen and did happen to us when a town claimed insolvency the day after the real estate purchase closing.  No more blinders on here!  Purchasing this project was a test for DP (not a client investor thankfully) in a demographic area that has been less favorable for sometime.  *Disclaimer – we do not propose investments/projects with unknown demographics to our clients. We went in with the thinking that this property was only two streets over from a more desirable area within the town, purchasing the property at $50,000 and a remodel budget of $70,000.00 (total invested $120,000.00) with comparable sales for the last three months showing in the area of $200,000.00 (80{48370f4c7e8d05e54649e612d3c42fc7fd435ea0d0341dced4441d5061938337} of the highest) had a projected net profit of $100,000.00 with the projected listing price at $210,000.00.  Unfortunately there is no certainty or control when the town surprises us with the insolvency announcement.  There is no way of knowing when a town might claim to be insolvent so we were then in the situation of having to realign our initial strategy and ask ourselves “what is the projected sale going to be now”, then push the project to completion as quick as possible with the least amount of invested funds lost.  This project was a test anyway for DP in this demographic/location.  We were prepared to take a loss but never expected this to happen.  If it had proven to be a worthwhile investment, we would have purchased many more from the bank – which would have created an ROI into the $1M range.  However, after the public announcement, even though the project was scheduled for only four short weeks, we had to prepare for a loss and only hope for a profit.  This experience now allows us to define “FLIPS” in our own way – Figuring Loss Imparts Profit Surprise.   Flip – Before Flip – Before Flip – Before Flip – After Flip – After Flip –...

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Property “Spec” Home – Investment into Construction

»Posted by on Jan 14, 2015 in Gallery Investments, Portfolio | 0 comments

Property “Spec” Home – Investment into Construction

Property “Spec” Home – Investment into Construction Providence, RI Spec Homes The term “Spec home” describes exactly what you are trying to achieve – you are speculating that you will develop and sell to a consumer.  But…just because you are able to sell a pre-designed and constructed home in one area does not mean the same sale price will work just a few streets down.  For example – we recently purchased land in two locations in providence – both were raw land. One area was a single lot where the metrics were relatively simple: buy land, pull permits, build house and sell to “speculated” buyer based on area comps.  Our ROI was $80,000.00.  Running simultaneously, we had also purchased a lot that was able to be split into two separate properties with only $20,000 more invested for the land –  after preparing, filing and receiving approval with zoning, we began construction of the same design.  One house sold with a net profit of $72,000.00 and the other produced a $55,000.00 net profit.  Why?  The sales were 3 months apart. If one was to assume all three would sell for the same price there would be a combined net profit of $240,000 (figuring that each would produce an $80k ROI)…but the actual combined net profit was $207k.  Obviously still a great 12 month return, but never always the same which reinforces the term speculation   Property “Spec” Home – Investment into Construction Property “Spec” Home – Investment into Construction Property “Spec” Home – Investment into Construction Property “Spec” Home – Investment into Construction Property “Spec” Home – Investment into Construction Property “Spec” Home – Investment into Construction  ...

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Student Concept – DiPetrillo Properties

»Posted by on Jan 8, 2015 in Gallery Investments, Portfolio | 0 comments

Student Concept – DiPetrillo Properties

Student Concept – DiPetrillo Properties Downtown – Providence, RI Premiere Student Housing When it comes to real estate investments DiPetrillo Properties walks the walk!  We don’t just work on investment projects for (or with) their clients – we continue to practice these proven methods ourselves.  We implemented our own unique creative concept for student housing mainly focused in the Providence area redeveloping multi-family housing – we are continuing to design residencies that remain in demand.  Our student apartment (investments) designs are not just a place to sleep, but a place they can call home complete with modern technology and an atmosphere that works for them. We offer comfortable, stylish suites where the serious student can enjoy even more lifestyle advantages than they would through a more traditional college dorm. Off campus living should offer on site social and hospitality accommodations with facilities both convenient and in desirable locations, all at competitive rental rates. Overall, this design/investment concept exceeds expectations by maximizing income growth while keeping the proper management in place.  However, few have attempted to carbon copy our concept.  It’s not just about the design, but buying right coupled with this design concept – remodel cost vs. over building appraised value – most importantly: skilled property management Student Investment – Before Student Investment – Before Student Investment – Before Student Investment – After Student Investment – After Student Investment –...

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Walgreens

»Posted by on Dec 9, 2014 in Gallery Planning, Portfolio, Uncategorized | 0 comments

Walgreens

Walgreens – Martelly Developments Bristol, RI The concept illustration was created to propose a targeted clientele by the investor. This preliminary drawing produced the necessary interest of the client which now resides on the intersection of Metacom Avenue and Narrows Road in Bristol, RI.

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Subway

»Posted by on Dec 9, 2014 in Gallery Planning, Portfolio | 0 comments

Subway

Subway North Providence, RI This schematic design was created to support the revitalizing of the Fruit Hill district. However, the planning process was too extensive for the investor, and the property site was reconsidered.

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