New Mexico investors

[Larrian Davis]

Hello Everyone,  Im running my numbers on properties and falling into the negative in cash flow. I believe it is due to rent being so low and mortgage high. I m looking in northeast heights area in New Mexico. For an estimate in your area how much are the rent prices? I wonder if maybe my calculation is wrong rentometer estimate average is the wrong number I should be using.  

Also, is there a quicker way to run numbers before doing the 4 square method ?

Thanks so much in advance!

[Lindsay Schwebke]

Hi Larrain, I run into the same issues.  I seem to get closer to getting the numbers to work when I look at properties on the west side/Rio Rancho but you are right, rents are low for the overall price here. 

[John J Lace]

Larrian - I am looking in the same areas you mentioned, as well as those that @Lindsay Schwebke had mentioned. I know your post is dated, but I have started looking at other comparable comps in the areas, using Zillow, Redfin, and the "Rent Estimator" on Bigger Pockets, etc. I haven't pulled the trigger on any offers yet, but have been able to make the numbers work by playing with down payment, loan terms, and things like seller credits, were they to be accepted. I believe there is still an open market share in the area, so I look forward to seeing where I can take it. I hope since last fall you were able to make some headway, if so, congrats! If not, keep plugging and know that I am right there as well. Cheers - John