Best Place to Flip If You Can Do the Work

[Emilie Adamovic]

Northern New Mexico, especially Taos or Santa Fe is an amazing place to flip houses if you can do the work yourself or if you have a GC friend who wants to go in on a deal. Freshly remodeled houses sell for $3-400 a square foot or more depending on the neighborhood. They are vacation areas so they are also immune to big market downturns. Since I have moved here I am constantly seeing wealthy people from California, Colorado, New York and Texas looking for nice properties but there are not enough workers in the area. GCs here will charge $300 a square foot for a remodel so flippers who aren't connected here cannot get started because your margin is crushed even on a good deal. It has created a unique environment where skilled laborers can charge whatever they want and work whenever they want and the work ethic here is not great. I am personally doing flips with friends who are skilled laborers or I would not make money. If you are someone who can do the actual labor yourself, this area is a gold mine! If you are living somewhere else in the county and have these skills and aren't making much off flips, come to New Mexico. As an agent in the area I would love to see more high quality properties popping up because we have the buyers and not the inventory.