Spokane & Albuquerque Real Estate Investment Team

Spokane & Albuquerque Real Estate Investment Team

Real Estate Agent · Los Angeles, CA · Member since 2020 · 15 posts · 4 votes

Hi Bigger Pockets Community,

I am relatively new here but reaching out to connect with fellow business professionals in the Spokane & Albuquerque Markets. I am apart of a team of 3 that is in the preliminary stages of property/market research. We are California, Bay Area-based real estate agents venturing into the out of state investment business. A few months ago a friend of mine shared the "ABC's of Real Estate Investment" book & Bigger Pockets website with me and I have been obsessed with the subject since.

After going through a list of +50 markets, we have nailed our choices down to 6. I am responsible for diving into the above markets. Our goal to purchase our first property preferably a single-family home or duplex near a Campus/University or community dominated by young professionals looking to rent within the next year. 

The next phase in our plan consists of connecting with potential attorneys, accountants, brokers, and property managers, so when we fly out to these markets after the COVID-19 Quarantine ends we will be able to have meetings lined up and properties to visit. 

P.S Feel free to share any books you have read at the beginning of your Real Estate Investment Journey that have greatly influenced the way you do business.

Cheers,

Peter 






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  • Lender · Playa del Carmen, México · Member since 2014 · 2k+ posts · 1k+ votes
    6y

    Hi @Peter Ramirez and welcome to BiggerPockets!

    I'm currently living in Clovis, NM, which is about 4 hours east of ABQ. I started exploring the real estate market there about 9 months ago and actually worked a deal in Rio Rancho last year. I'd love to compare notes!

    Also, can you share the other 4 U.S. markets your group has decided to pursue? We're very much focused on the South (GA, AL, NC, SC) and West (TX, CO, NV), but are always open to contrasting perspectives.

    Right now I'm enjoying Frank Gallinelli's excellent book, "What Every Real Estate Investor Needs to Know About Cash Flow."

  • Real Estate Agent · Los Angeles, CA · Member since 2020 · 15 posts · 4 votes
    6y

    Thanks for being my first interaction on Bigger Pockets! It's so cool that we have a resource like this, I believe the value of platforms like Bigger Pockets grow exponentially during a time like this.

    Rio Rancho was one of our top-rated areas in ABQ along with Mesa Del Sol, Hunning Highlands, and the Eastside. It would be awesome to get something in Nob Hill Area/University area but it's hard finding something in a good price range. We first became interested in ABQ after hearing all the news about Netflix & Universal setting up shop and investing over a billion dollars over the next 10 years in production and job creation. Amazing opportunity!

    The other 4 US Markets my colleagues @Account Closed are in charge of are Tucson, Houston, Las Vegas, and Chicago. Looking forward to connecting further and sharing notes!

  • Real Estate Agent · Tucson, AZ · Member since 2020 · 1 post · 0 votes
    6y

    @Peter Ramirez hey Peter. Are you actively purchasing in Tucson?

  • Real Estate Agent · Los Angeles, CA · Member since 2020 · 15 posts · 4 votes
    6y

    Hey @Scott Autenreith,

    Thanks for reaching out man, we are currently in the processing of determining if Tucson is a great market for us to pursue and purchase in, we plan on taking a trip out there when this Corona Virus clears up and dig a bit deeper into the market. What's your take on the market? 

    On our side, we like liked a lot of things about the city; stable job growth, major university for student rentals, lots of potential for Airbnb properties, proximity to Phoneix, the only red flag we did not like was it did not follow our 1% rule. 

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