1930's Pueblo Home Remodel in Albuquerque, NM

[Mel Salinas]

Investment Info:

Single-family residence fix & flip investment in Albuquerque.

Purchase price: $62,500
Cash invested: $42,000
Sale price: $144,000

This remodel was not a cosmetic; it needed everything plus leveling out floors. Sales description: Own a piece of old New Mexico in the heart of the North Valley; a 1930’s Pueblo designed partial adobe casita. Updated kitchen featuring restored antique vigas, new butcher block countertops with a new undermount stainless steel Schon sink, white antiqued cabinets, 1900’s style subway tile backsplash and stainless steel appliances. Classic cafe doors lead into a brick laid pantry room and ample lau

What made you interested in investing in this type of deal?

Purchase price was right as was resale value.

How did you find this deal and how did you negotiate it?

MLS with agent

How did you finance this deal?

Conventional loan and HELOC

Lessons learned? Challenges?

Older properties require extensive plumbing work.