All Forum Posts by: 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

Investment Info:

Single-family residence fix & flip investment.

Purchase price: $83,000
Cash invested: $28,000
Sale price: $141,000

Mostly cosmetic; sales desc: Custom Pueblo home with many new updates to include: thermoplastic polyolefin (TPO) roof, premium stucco finish in Cottonwood by El Rey, hand-welded custom security gate, lighting fixtures and ceiling fans, KOHLER Staccato sink, plumbing fixtures, Williamsburg Maple & Acacia butcher block countertops, Fireside African Rosewood Laminate Flooring in all bedrooms (no carpet!), 50 Gal water heater, real wood square edge baseboard & trim throughout, exterior doors, bath

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

Easy mostly cosmetic fix - popular neighborhood- good purchase price.

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: $83,000
Cash invested: $28,000
Sale price: $141,000

Mostly cosmetic; sales desc: Custom Pueblo home with many new updates to include: thermoplastic polyolefin (TPO) roof, premium stucco finish in Cottonwood by El Rey, hand-welded custom security gate, lighting fixtures and ceiling fans, KOHLER Staccato sink, plumbing fixtures, Williamsburg Maple & Acacia butcher block countertops, Fireside African Rosewood Laminate Flooring in all bedrooms (no carpet!), 50 Gal water heater, real wood square edge baseboard & trim throughout, exterior doors, bath vanities w/ mirrors, fresh paint, replenished landscape rock & gravel, stainless steel appliances and more! Home also features custom tile work, flagstone fireplace, craftsmanship cabinetry, and rustic pine wood ceilings. Great corner lot - backyard acces

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

Easy mostly cosmetic fix - popular neighborhood- good purchase price.

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: $71,500
Cash invested: $21,000
Sale price: $126,000

Mostly cosmetic; sales desc: Fantastic updated Sunrise Ranch home with custom touches and modish charm. Features fresh designer slate paint, new Pewter Oak hue flooring with premium square edge baseboard & trim throughout. New cooler and fixtures; American Cherry butcher block counters, rustic finished wood barn door entry for a second living space/ office/ creativity hub laid in brick flooring. Backyard is ready for landscaping. Comfy cul-de-sac location!

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

Newer style home

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: $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 a

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

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

Investment Info:

Single-family residence fix & flip investment in Albuquerque.

Purchase price: $62,500
Cash invested: $42,000
Sale price: $144,000

This remodel was not a cosmetic; it needed everything plus leveling out floors. Sales description: Own a piece of old New Mexico in the heart of the North Valley; a 1930’s Pueblo designed partial adobe casita. Updated kitchen featuring restored antique vigas, new butcher block countertops with a new undermount stainless steel Schon sink, white antiqued cabinets, 1900’s style subway tile backsplash and stainless steel appliances. Classic cafe doors lead into a brick laid pantry room and ample lau

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

Purchase price was right as was resale value.

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

MLS with agent

How did you finance this deal?

Conventional loan and HELOC

Lessons learned? Challenges?

Older properties require extensive plumbing work.

Investment Info:

Single-family residence fix & flip investment in Albuquerque.

Purchase price: $62,500
Cash invested: $42,000
Sale price: $144,000

This remodel was not a cosmetic; it needed everything plus leveling out floors. Sales description: Own a piece of old New Mexico in the heart of the North Valley; a 1930’s Pueblo designed partial adobe casita. Updated kitchen featuring restored antique vigas, new butcher block countertops with a new undermount stainless steel Schon sink, white antiqued cabinets, 1900’s style subway tile backsplash and stainless steel appliances. Classic cafe doors lead into a brick laid pantry room and ample laundry/utility room with new hot water heater. Handcrafted wood accents and details highlighted throughout. Second living space perfect for study or yoga room. Remodeled bathroom showcases premium 3/8 in. thick ANSI certified tempered glass shower entrance, porcelain tile with niches, and mid-century modern inspired shower fixtures. All new paint, fixtures and flooring throughout.

Exterior features include new double coated Solar-Flex White Roof Coating, new upgraded electrical panel, natural and durable surface crusher fine walkways, low maintenance landscape and mature trees, and freshly painted large shed for tools or hobbies. Located on a no thru street close to popular 4th street dinning. This rare find is priced right to sell fast in the North Valley!

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

Purchase price was right as was resale value.

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

MLS with agent

How did you finance this deal?

Conventional loan and HELOC

Lessons learned? Challenges?

Older properties require extensive plumbing work.