Project by: Jaquelin Adler (11th Grade), Jonathan Hodge (11th Grade)
Project Advisor: Shafeiq
Student(s)’s Advisor(s): Advisor for Jaquie: Shafeiq Advisor for Jonathan: Arturo

We both had an interest in finding out what the real estate industry is really like. By immersing ourselves in this independent work, our goal was to finish the project with a substantial understanding of what it means to flip, renovate, or invest in a home, and how to work with a given budget to apply all these plans into a simulated reality.

For our whole project, we worked on a google document which is viewable below:

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We tracked our process and laid out each plan weekly, we also conducted phone calls and interviews with our connections that we’ve had previously with real estate. From there we picked out a house and toured it, gathering the information that we later used to make a budget list. We then used photoshop to design our own floor plan, but later met with our personal contractor to see if our proposal would be approved. We then came up with a new design and budget that is now our final product. Although we went over our budget and didn’t fully succeed our main goal, we came to clear consensus that there is a lot more that goes on behind the scenes than what is actually presented. We learned that the spec sheet and excel sheets were the way to go about direct our project.

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Please write a description of the project you are proposing. Why do you want to take this on, and what do you hope to learn?

Both Jaquie and I have had an interest in finding out what the real estate industry is really like. Connecting them to current classes at LREI, we realized that there might not have been a direct outlet that would connect us to finding and learning about the responsibilities that go into “adulting” other than Personal Finance with Shafeiq. By having the opportunity to immerse ourselves in this independent practice, our goal is to finish off the project with a substantial understanding of what it means to flip, renovate, or invest in a home, and how to work with a given budget to apply all these plans into a simulated reality.

Critical thinking, creativity, citizenship and courage are essential LREI learning values. Explain how you’ll draw on at least one of these values to complete your proposed project?

When it comes to connecting LREI’s core values to our honors project, we plan on incorporating aspects of critical thinking.

What is your proposed outcome? How will you be able to demonstrate successful completion of this Project? How do you plan to share your learnings with the larger LREI community (e.g., exhibit of work, poster of learnings, performance, etc.)?

The outcome of this project would be to work with outside sources to understand the process of how to buy and flip a house and to sell and make a profit. Although this is a lot of outside work with working with people who are in the business directly, this project covers how to financially hold a budget while also working together to what we want the house to look like. We can share this through the blueprints and writing reflections of what we learned with meeting with agents/brokers/Architect.

Please provide a general outline that indicates your work plan for the trimester? What are some of the key project benchmarks (i.e., goals that will help to ensure that you finish the project)?

The first step would be finding a place that we could flip and figuring out the budget from the location. We want to be able to have the freedom of having enough space to do what we want, so that might be going out of the NYC area, however, we are going to try out best to stay in the area. From there we would set a budget and learn the process what goes into real estate and what we have to watch out for with money issues. After that, we would work with Shafeiq and find the right way in how to go about starting the process figuring out mortgages, work salaries, number of workers, insurance etc. Then we would continue to work with my brother and family friend to build and flip a house to our design.

When do you plan on meeting?
X-Block: Wednesday and/or Thursday and/or Friday.