Fix and Flip Property on the Costa Blanca

Fix and Flip Property on the Costa Blanca

Fix and Flip Property on the Costa Blanca

Towards the end of July 2021, the guys from Mr Move, a removal company based in Torrevieja took a large amount of furniture out of my parent’s place in Ciudad Quesada and I suppose, that marked the beginning of my story about Fix and Flip Property on the Costa Blanca.

Now I don’t intend flipping the house in the true sense of the word, because once I’ve fixed it up I won’t be selling it, I’ll be renting it out. After all, in my professional opinion I would value the place at somewhere between 75,000€-80,000€ and considering it’s in quite good condition, if I was to spend a fortune refurbishing it I probably wouldn’t get it back.

It’s the beginning of January 2022 and it occurred to me, that it might be an interesting exercise to write a case study about fixing and flipping, as a record for myself and as a source of information for anyone thinking of doing something similar. So without further ado here is the story so far:

As I say the removal guys came in July and I would say that that really marked the beginning of the process in the practical sense and when I say practical, I mean that it started costing me money and time. Before doing anything, I did consider bringing in a builder to help me refurbish the place, but when I worked out what it would probably cost to get it back up to scratch I decided it wasn’t viable. If I’m lucky the house will earn 450€-550€ rent a month and the work I need done would probably come to around 5,000€ including labour and materials.

There may also be things like air-conditioning and furniture that I might have to buy. So I decided to do the work myself, but because I have a job, I am only able to work on the property in my spare time and not only that, I live 90km away from the house. Nonetheless I am now starting to make progress and to bring this first instalment to an end here is a breakdown of what I’ve achieved so far and what it’s cost:

Fix and Flip Property on the Costa Blanca: Costs to date

Removal Company    150€

Paint:                              35€

Wall Paper                   157€

Sanding Discs               30€.     For the angle grinder to remove Gotéle

Sand Paper                   30€

110mm Angle Grinder 65€.    Because my old one broke

Water Boiler 80€

Small Sander                  35€.    For my first attempts to remove Gotéle from the Walls and Ceiling

Cleaning Products etc. 20€

Tile Cement                     5€

Diesel                            400€    Roughly 20 trips at about 20€, 23 year old Land Rovers are thirsty.

Total                              1027€

Fix and Flip Property Progress to date.

Large Bedroom

Up to now I have demolished a brick and plaster dividing wall. Removed the Gotéle speckled plaster covering from the walls and ceiling. Filled holes and cracks in the walls and ceiling and refitted the loose and missing ceramic tile skirting, 10 pieces in total. Also prepared and painted the built in wardrobe doors, the bedroom door and the roller blind box.

The next step will be wallpapering the walls and maybe the ceiling, with woodchip paper before painting.

I’d say that’s it for this instalment, but I’ll write again once things move a little further along, or more than likely when I spend more money on the place.

Before you go, if you’d like to know more about Ciudad Quesada click here.

If you’re interested in making other improvements to your home click here.

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