Flipping Rustic Northern NM Style Home

[Mel Salinas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $62,000
Cash invested: $45,000
Sale price: $120,000

Full remodel plus fixing floors and removing extra dilapidated home in back. Sales desc: Rustic 1940s northern NM style home with lots of natural wood, thick walls and originality! Remodeled kitchen with stainless steel apron sink and solid butcher block counter tops complimenting beautiful soft green backsplash; a vintage modern vibe as well as a very natural, organic feel. Updated bathroom with Spanish flair, refrigerated air and furnace combo, new corrugated steel roof, and handbuilt wall and door trim throughout to match original circa 1940s wideboard hardwood floor. Oversized laundry room and separate dining/office area. Enclosed porch, completely fenced large yard, and backyard solid hardwood deck. Conveniently located near freeway, downtown dining, breweries, boutiques, UNM, CNM, and Isotopes park. Inspections are done!

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

Adding experience to portfolio

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

MLS negotiated with seller's agent

How did you finance this deal?

Cash and HELOC