Bigger is Not Always Better

[Mel Salinas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $240,000
Cash invested: $85,000
Sale price: $388,000

Full remodel plus repair in-ground ducting; sales desc: Remarkable transformation of this Harrison Eugene Smith build; a timeless classic located in popular far NE Heights. This beauty sits on an over-sized lot with front and back covered patios. New open plan design with modern, bold, and dramatic custom details throughout. All rooms easy to access on one main level. Renovated with new TPO roof, refrigerated air/ furnace, carriage house garage door, large windows, engineered wood flooring, new ceiling beams, doors & trim throughout. Minimalist kitchen and spa-inspired baths with granite counter tops, wall mounted faucets, statement lighting, updated electrical and plumbing and a complete air duct restoration.

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

Popular area and home appeared to be mostly cosmetic

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

MLS

How did you finance this deal?

Commercial loan and Heloc

Lessons learned? Challenges?

repair cost ended up being much more than anticipated; area also required better understanding of the type of Buyer