So Called Bad Albuquerque Neighborhoods still have Value

[Mel Salinas]

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,900
Cash invested: $32,000
Sale price: $157,000

Full remodel; sales desc: Clean remodeled home with many new updates to include: NEW Corrugated Galvalume Metal Roof, Premium Two-Tone Synthetic Stucco in Santa Fe White & Forest Green, NEW Air Conditioner, all new windows, doors, garage door, and sliding door! Electrical upgrades, Spacious U Shaped Brand new kitchen with many cabinets, and Acacia butcher block countertops. Easy maintenance Laminate Flooring in all bedrooms and Living room-no carpet! Brand new designer tile for kitchens and baths. NEW 50 Gal water heater, real wood square edge baseboards & trim throughout hand cut and stained, All new bathrooms, all new paint, replenished front yard gravel, stainless steel appliances and more! An almost brand new home in a great central location + possible backyard access!

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

Familiar with investing in area

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

MLS

How did you finance this deal?

Cash and Heloc