All Forum Posts by: Mel Salinas

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 synthetic stucco with full brown undercoat, new Galvalum 26'' gauge steel panel roof with trim and drip edge flashing. Spacious super large front yard. Over 1/3 acre lot with backyard access on a quiet cul de sac! Established neighborhood close to shops, school, and transport.

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.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $79,500
Cash invested: $32,000
Sale price: $158,000

Full remodel; sales desc: Move-in ready Pueblo style home recently remodeled; new windows, new roof, & new stucco in a soft denim shade with full brown undercoat. Kitchen includes new cabinets & solid butcher block counters. Master bedroom features oversized walk-n closet. Natural wood trim & baseboards hand stained and sanded throughout. All new lighting and plumbing fixtures. New natural gas water heater with all new vent piping. Refrigerated air conditioner. New garage with an extra driveway,

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

Experience with style of home and rehab needs

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?

Trying out new roofer was a mistake!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $79,500
Cash invested: $32,000
Sale price: $158,000

Full remodel; sales desc: Move-in ready Pueblo style home recently remodeled; new windows, new roof, & new stucco in a soft denim shade with full brown undercoat. Kitchen includes new cabinets & solid butcher block counters. Master bedroom features oversized walk-n closet. Natural wood trim & baseboards hand stained and sanded throughout. All new lighting and plumbing fixtures. New natural gas water heater with all new vent piping. Refrigerated air conditioner. New garage with an extra driveway, and parking directly into backyard access. Great cul de sac location.

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

Experience with style of home and rehab needs

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?

Trying out new roofer was a mistake!

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,000
Cash invested: $42,000
Sale price: $168,000

Full remodel plus converting garage back into a garage; sales desc: Valley Beauty! More than the average remodel; extensively renovated home. 2019 NEW: Desert Rib Heavy Gauge Galvalum Roof, Furnace w/Ducting, Cooler, Water Heater, Plumbing, Electrical, 200Amp Service, Stucco w/full brown coat, NEW bath designs w/Kohler toilets, Opened Kitchen w/Frigidaire Steel Appli.-Stackable Wshr/ Dryr BONUS, Hampton Bay Cabinets, Apache Blk/Wht Porcelain bcksplsh pops Butcher Block Golden Teak Counters, LED

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

Experience with older pueblo style homes

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

MLS

How did you finance this deal?

Investment partner and HELOC

Lessons learned? Challenges?

In this one the investment partner put up the cash to purchase, but not rehab nor managed any of the remodel so wasn't such a great deal with a 50% split

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $80,000
Cash invested: $42,000
Sale price: $168,000

Full remodel plus converting garage back into a garage; sales desc: Valley Beauty! More than the average remodel; extensively renovated home. 2019 NEW: Desert Rib Heavy Gauge Galvalum Roof, Furnace w/Ducting, Cooler, Water Heater, Plumbing, Electrical, 200Amp Service, Stucco w/full brown coat, NEW bath designs w/Kohler toilets, Opened Kitchen w/Frigidaire Steel Appli.-Stackable Wshr/ Dryr BONUS, Hampton Bay Cabinets, Apache Blk/Wht Porcelain bcksplsh pops Butcher Block Golden Teak Counters, LED Lighting w/added electrical service 4 Ceiling Fans, Dry Wall & Insulation, Double Pane Windows, Large Ravena Almond Porcelain Stone Tiles laid in trendy linear pattern, Exterior/ Interior Doors , Hand Crafted Wood Trim & Baseboards Hand Stained to match Solid Wood Entry Ceiling Beam, Finished Garage all on a 1/3 acre with mature Mulberry trees on private quiet road.

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

Experience with older pueblo style homes

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

MLS

How did you finance this deal?

Investment partner and HELOC

Lessons learned? Challenges?

In this one the investment partner put up the cash to purchase, but not rehab nor managed any of the remodel so wasn't such a great deal with a 50% split

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $81,000
Cash invested: $21,000
Sale price: $134,000

Cosmetic plus fixing exterior wall that was crashed into. Sales desc: Clean remodeled Longford home located in quiet modest neighborhood with a bright oversized eat-in kitchen - all new Stainless Steel appliances! Features fresh paint inside, and new coat of exterior Stucco and Brick paint. New Sandy Beach Oak Laminate flooring complimenting the trendy Bermudan blue toned cabinets. All new bath and kitchen plumbing fixtures. New water heater! New air conditioner and new roof being installed end

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

Small newer home

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

MLS

How did you finance this deal?

Investment partner and HELOC

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $81,000
Cash invested: $21,000
Sale price: $134,000

Cosmetic plus fixing exterior wall that was crashed into. Sales desc: Clean remodeled Longford home located in quiet modest neighborhood with a bright oversized eat-in kitchen - all new Stainless Steel appliances! Features fresh paint inside, and new coat of exterior Stucco and Brick paint. New Sandy Beach Oak Laminate flooring complimenting the trendy Bermudan blue toned cabinets. All new bath and kitchen plumbing fixtures. New water heater! New air conditioner and new roof being installed end of month! Upgraded light and ceiling fan fixtures with all new electrical outlets and switches- BONUS wall lighting added to bedrooms. Five new windows will be installed. New garage opener with two remotes. New Birch butcher block counters and laminate in Typhoon Ice. Fresh landscape gravel added in front - Close to schools, shopping, restaurants!

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

Small newer home

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

MLS

How did you finance this deal?

Investment partner and HELOC

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $88,000
Cash invested: $18,000
Sale price: $130,000

Quick cosmetic; sales desc: Comfy updated Sunrise Ranch home in gated HOA community with NEW roof! New oversized cooler! and New water heater! So much NEW: Features fresh paint inside, and new coat of BEHR Masonry, Stucco and Brick Paint on exterior. New Pewter Oak hue flooring with stained to match all wood square edge baseboards & trim throughout - NO CARPET! All new bath and kitchen plumbing fixtures and steel braided water lines. New custom front entry door, several new interior doors and al

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

Easy remodel

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?

Easy remodel, but the resale price was still not where we needed it to be; the appraiser would not budge although there were other nearby comps that supported a higher sales price.

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $88,000
Cash invested: $18,000
Sale price: $130,000

Quick cosmetic; sales desc: Comfy updated Sunrise Ranch home in gated HOA community with NEW roof! New oversized cooler! and New water heater! So much NEW: Features fresh paint inside, and new coat of BEHR Masonry, Stucco and Brick Paint on exterior. New Pewter Oak hue flooring with stained to match all wood square edge baseboards & trim throughout - NO CARPET! All new bath and kitchen plumbing fixtures and steel braided water lines. New custom front entry door, several new interior doors and all new door hardware throughout. Upgraded light and ceiling fan fixtures throughout - included wall lighting added to bedrooms. New Maple butcher block counters and new stainless steel single tub kitchen sink. New stainless steel appliances. Fresh landscape gravel in front yard.

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

Easy remodel

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: $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

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