New member from Albuquerque New Mexico

[Derek Hemerick]

I am a new member in the Albuquerque New Mexico REI game. My wife and I currently live in South Georgia and will be moving back to Albuquerque by the end of the year. I am interested in Land but I also want to utilize my VA benefits to get into a Multi-family house when I get to Albuquerque. I have done some cursory searches for Investment real estate brokers in town but have not come across anything yet. If anyone has any suggestions I would love to hear them. I think we will be looking in the Nob Hill area or the North Valley. Also, I have heard time and time again that you have to provide some type of worth to someone that might mentor you. Well, if anyone is interested in the outdoors, extreme sports, or survival I am a wealth of knowledge and will trade for more knowledge on REI! Hope to hear from others in the surrounding area!

[Marc C.]

Hi, Derek, 

First off, buying a 4-plex that you will live in for at least 2 years is the absolute BEST way to get started in multifamily. Glad you are leaning that way. ABQ is full of fourplexes in the $150,000-$200,000 range, but they aren't in the neighborhoods you mentioned. For Nob Hill, you would have to expect to pay at least twice as much since it is one of the most desirable neighborhoods in town. And there just aren't that many in the north Valley which look interesting. 

We have several active real estate investment clubs in town. I hope you will join them. When you get to town, I'd be happy to meet with you and steer you in the right direction. I'm certainly willing to mentor (for free), and joint-venture/fund, those who show a propensity to work at finding deals. So by all means, let's hook up. 

Marc Coan