Newbie in Albuquerque, NM looking to connect/network and learn...

[Charles Hinson]

Hi - my name is Charles and I'm exploring becoming a real estate investor (rental properties). This is something I've wanted to do for over 2 decades (beginning with my purchase of Carlton Sheets' course many years ago). I'm ready now and excited to take this next step.

I've owned several homes (including a Co-Op in Manhattan) and am well-versed with real estate as a primary residence - I've done quite well with the sale of each home after cosmetic/landscaping investments. I want to build that same level of competency in rental properties and would consider "flipping" a property if the deal makes sense but that's not my focus. I'm looking to create additional income streams for retirement from long-term rental properties.

I recently moved to Albuquerque, NM from Manhattan and would like to connect with other investors/service providers in the area.

Thanks for reading and I hope to hear from you!

[Paul Timmins]

@Charles Hinson 

Welcome. Fill in the foundation below.

Check out the Start Here page http://www.biggerpockets.com/starthere

Check out BiggerPockets Ultimate Beginner's Guide - A fantastic free book that walks through many of the key topics of real estate investing.

Check out the free BiggerPockets Podcast - A weekly podcast with interviews and a ton of great advice. And you get the benefit of having over 90 past ones to catch up on.

Locate and attend 3 different local REIA club meetings great place to meet people gather resources and info. Here you will meet wholesalers who provide deals and rehabbers.

Two Great reads, I bought both J. Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbook

To find out about an area go to IREM.org search for ARM certified property managers. Call 5 ask them what parts of the city they like/dislike and why. Ask them what they see expenses running per category per unit. What do they see them selling for per unit, what is the market occupancy rate. What are the market rents? Ask them if they know anything coming up for sale. Great way to pick up some good info and possibly a deal.

You might consider Niche or Specialized Housing like student housing. Rents can be 2-4 times more. Remember you don't have to own a property to control it.

Download BP’s newest book here some good due diligence in Chapter 10. Real Estate Rewind Starting over

http://www.biggerpockets.com/files/user/brandonatbp/file/real-estate-rewind-a-biggerpockets-community-book

Good Luck

Paul