Flip This House in Albuquerque NM Part 2
Flip This House in Albuquerque NM Part 2
A business partner and I purchased a foreclosure home in Albuquerque NM a few months ago. I wrote a post on Bigger Pockets about the best strategy on flipping this home. We had two options on this home. One option was a quick and dirty remodel that would cost about $10,000 to $15,000. The other option was a full blown remodel with a cost between $35,000 to $40,000.
We made the decision to move forward with the full blown remodel on this Albuquerque foreclosure. The remodel included all new stainless steel appliances, stained all cabinets, new paint inside and out, granite in kitchen and bathrooms, all new plumbing fixtures, new toilets, new sinks, wood floors restored, new subway tile, landscape, door hardware, and stacked stone around the fireplace. Total cost of repairs were in align with our estimate and came it at $37,000.
This Albuquerque flipper was put on the market today. This beautiful Albuquerque home for sale looks fantastic. Now the important phase, we need to sell the home and at the right price to make our desired profit on this home. I will write a new post after we sell the home and update everyone on our final analysis.
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