New Investor in Southeast New Mexico
Hello BP Community,
My name is Gary Waddle, and I live in Carlsbad New Mexico. My goal is to grow wealth and passive income through real estate. My plan is to fix and flip homes in Carlsbad, where there is a very high demand for housing due to the current oilfield boom, and then take those profits and invest in rentals in other markets that do not rely on just one industry for growth. I was thinking possibly El Paso, TX, Lubbock TX or Las Cruces, NM.
I think BP is a wonderful resource and community, and look forward to meeting new people and learning new things.
I have read quite a bit, listened to tons of podcasts and even attended some training. I know my market very well and have a realtor on my team. Where should I go from here?
Thanks in advance,
Most Popular Reply
Welcome to BP Gary. I'm glad you are here and taking steps towards achieving your goals. There are a few things you can do still in addition to the great steps you've already taken. If you haven't already (sounds like you've done a lot of reading), get the book on estimating rehab costs and the book on flipping houses both by J.Scott (you can find them here in the BP store or on Amazon). Play around with the BP calculators so you are comfortable analysing a deal. Try to find yourself a good contractor and also secure your funding then you might be ready to get going. Real estate can be tough and challenging but it is certainly rewarding. Best of luck to you!