All Forum Posts by: Mel Salinas

Pueblo Style Victory Hills home with hardwood floors and large bright kitchen. Garage has been converted to a studio/ 3rd bedroom and could be used as a master suite or extra living space or rental apartment-has it's own private entry, bath, and kitchenette. Additional insulation added to keep utilities low. NEW TPO roof with transferable warranty. Backyard has covered patio with lots of vegetation all around. Conveniently located near UNM and CNM. Walk to nearby parks and golf course. 1334 sq ft -$275,000 Off Princeton Dr SE on Monterey Ave SE.

Thank you! @Marlen Weber =)

Thank you @Jens Nielsen

Thank you @Zachary Romero

Investment Info:

Single-family residence fix & flip investment in Albuquerque.

Purchase price: $110,000

Starting a new flip in Albuquerque Sunset Acres area

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

resale value

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

MLS

How did you finance this deal?

Cash

Lessons learned? Challenges?

Past owner is still coming around believing that they own the property! New challenge...

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $89,000
Cash invested: $43,000

Full remodel; challenge working with an odd layout.

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

Popular area

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

MLS

How did you finance this deal?

Cash and Heloc

Lessons learned? Challenges?

Hiding a tankless water heater in a kitchen cabinet

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $90,000
Cash invested: $36,000
Sale price: $195,000

Full remodel plus removing old porch

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

Area

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

MLS

How did you finance this deal?

Cash and Heloc

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 bath

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

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

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $89,300
Cash invested: $36,000
Sale price: $153,000

Mostly cosmetic but had a fire damage accident that ended up making it more costly; sales desc: Clean remodeled home with NEW ROOF, NEW SYNTHETIC STUCCO, newly installed Satin White Hampton Bay cabinets with extra pantry cabinet, Teak Butcher Block counters and Island top, Glacier Bay vanities with cultured marble sinks, 12 mm Evening Sun Cherry laminate flooring in all bedrooms, new cooler, light & plumbing fixtures, hand cut sanded and stained wood baseboards and trim, new garage door, new syn

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

Quick cosmetic remodel

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

MLS

How did you finance this deal?

Investment partner

Lessons learned? Challenges?

Accidents are costly and not converting 1/2 baths are a mistake.