John Calvitti, a realtor with Curated Living at Compass, has helped plenty of clients buy homes to renovate and resell, but he had never taken on a flip of his own. He’d always been curious about the process and wanted to understand every step firsthand, from finding the right property and lining up financing to managing the renovation and listing the house back on the market. To complete a project with confidence, John signed up for Jumpstart Germantown. This is an intensive, 8-week program that trains new developers to buy, renovate, and finance investment properties in Northwest Philadelphia.

John’s first flip project was 24 Westview Street in Germantown. He bought the house, gutted it, and rebuilt it with a new roof, new mechanicals, three bathrooms, and a chef’s kitchen, all while holding on to the original woodwork that made the home unique. When John listed the newly renovated home on the market, it was under contract in about eight days with a full-price offer and waived inspections.

We sat down with John to talk about how the project came together, what he learned along the way, and why Germantown is where he wants to continue building. 

How did you get into real estate investing?

What is the Jumpstart Germantown program, and what did you get out of it?

It’s an eight-week training course, and it also gives you access to a private lending network. Learning about the different financial products out there is what gave me the confidence to actually go for it. I didn’t end up using Jumpstart’s direct loan program, but I found my lender, Go Magnum Loans, through their network.

What made you choose 24 Westview Street?

The house had been sitting on the market for a few months. It was in rough shape and the layout wasn’t ideal for potential buyers. It needed a full gut renovation. But the location was great, the structure was strong, and it still had the original woodwork. I could see the potential and through Jumpstart, I was able to learn what improvements to make in the renovation process to appeal to buyers.

How did you finance the purchase and renovation?

I ran the numbers using the financial spreadsheets from Jumpstart and my lender. Once I submitted my work estimates and supporting comps, the lender approved the project. Most of the purchase and construction was financed through loans, plus some cash at closing.

What did the renovation include?

My goal was to keep the original character of the house and bring in modern amenities. That meant a new roof, new electrical, new plumbing, and HVAC with all new ductwork. We added three bathrooms and a chef’s kitchen with high-end Italian appliances.

We also changed the layout. The primary bathroom got bigger and now connects to the primary suite. We added a full bathroom on the third floor and a powder room on the first floor.

How long did the flip take from start to finish?

Ten months from purchase to resale. My original plan was seven to eight months so I could hit the spring market. Going longer added holding costs and pushed the budget a bit, but it stayed manageable.

The last phase was the hardest part. Finish work takes time, and small setbacks feel a lot bigger.

How did you price and market the house?

I ran comps from the spring and summer markets and kept the location, size, and quality of the finished product in mind so the price would be accurate. For marketing, we listed the home as “Compass Coming Soon”, ran digital ads, and a hosted broker’s open. 

How quickly did it sell?

Between Coming Soon and being active on the MLS, Westview was on the market for about eight days total. The feedback was strong and really positive. We ended up with a full-price offer with inspections waived, so the transaction was smooth. The buyer loves the house and appreciates the care and detail that went into the renovation.

What was it like walking into the finished house for the first time?

Bright, shiny, cool. I was proud and couldn’t wait to show people the house and what I’m capable of producing.

Why Germantown?

Germantown has a great mix of culture and history. You get an urban feel with a lot of green space. Wissahickon Valley Park is right there with its trail system and historic sites like Historic Rittenhouse Town.

Right now you’re seeing a blend of new construction and historic restoration. Weavers Way Co-op is a newer addition that’s become a community hub and created jobs in the neighborhood.

I want to contribute to the positive change in my community. For me, that means creating quality housing that keeps the historic character of the neighborhood.

What were the biggest lessons from your first flip?

Through this project, I learned the importance of timeline management and making decisions quickly. Working with a lender on a construction loan made me stay focused on the numbers, and having the work inspected with every draw kept me accountable.

Those lessons apply to buyers and sellers too. Know your numbers, and take action while keeping your eye on the end goal.

Would you recommend Jumpstart to someone who wants to start investing?

Yes. I think Jumpstart is a good starting point for anyone interested in urban development and investing. The education and resources mean you have support the whole way through a project.

What’s next for you?

I’m looking for my next project now. I’d like to develop a multi-unit rental in Mt. Airy. 

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Thinking about buying or selling in Germantown?

Whether you’re shopping for a renovated home in Northwest Philadelphia, weighing your first investment property, or getting ready to sell, the Curated Living team at Compass can help you run the numbers and build a plan. Reach out to start the conversation.