Eager to invest in Albuquerque, New Mexico!

[Ryan Russell]

Hello everyone, my name is Ryan. About two years ago I was bit by the real estate bug and ever since I have been buying books, listening to podcasts, and watching videos just trying to learn as much as I possibly could. I am really interested in investing in single family and small multi-family homes in Albuquerque and I want to get started as soon as possible. I have mapped out a fairly detailed step by step plan that should lead me to my goal of financial freedom. Now it's time to get started! Glad to be here!

[Marc C.]

Hi, Ryan, 

There are plenty of good folks to network with, in spite of our small market. As Dave Torres (who is a wholesaler) said, we have two active REIAs, plus we have a Mastermind group for experienced investors and TWO new groups dedicated to multifamily. If you are interested in investing with others, there are plenty of active projects going on. 

But remember, Albuquerque is different than about anywhere. Our economy is not strong, so our rents are "capped" by low job growth and low wages. We have houses for under $100,000. This is competition for rentals if the buyer has credit....but so many don't, and with a $12/hr call center job, one could be an apartment renter for a LONG time. Which means all of those Class C buildings and trailer parks south of Central have a key purpose: To house working poor people. The problem is that so many of them are neglected by their slumlords, which is also an opportunity for us investors. Learning how to serve that market (by far, our largest) better than your competition can make one rich...and you can feel good because you are providing QUALITY housing to those who need it.  

Let me know if I can be of assistance. I am in Albuquerque about 3X a week (live in Santa Fe). I'm sure we'll meet at one of the Meetups mentioned above.