All Forum Posts by: Chris Stone

Please don't bother the tenant. He leaves on the 3rd of November. We are active Air BnB landlords. Mostly in Albuquerque. We bought this place so we could see our son more when he relocated there. We've now moved to Mexico and this place just isn't working for us! The house is cute but needs more work. Ryan Place is a hotbed for renovators. Pretty much every street boasts a remodel or a tear down with new construction. Comps go pretty high when fixed up.

We are not interested in working with a wholesaler. Texas has an option period and we don't want someone tying up our home. If we high a realtor we will lose more money than we already will. We want to work directly with a re-habber or investor (popular rental area) that can buy fast with cash.

Hi, I'm looking for a reasonable foundation repair company. Any advice?

We have 5 air BnB rentals and the cleaning fee isn't included on the per night price at the top of the page and the search engine. They do include the fee in the quote showing the true per night price. Do you get a lot of one night rentals? my minimum is two or three nights, depending on the season and my mood. One night ties up my calendar for those looking for longer stays.

We invest in condos. Most are need a lot of work. We make them pretty, furnish them, and rent out to people looking to rent for a month or three. Travel nurses, people building a home, relocating to the area, ect. 

We want to expand to Dallas or Ft Worth. Condos work best for us... but we need places that will allow one month rentals and pets. That means pouring over condo rules when we can find them.

Any insights?

OK. Just tested Zillow. This was my home, so I won't be breaking privacy laws. I sold for $329,00. Zillow has the home at $301,000. It is in the North Valley. We have trailer parks next to million dollar homes so zestimates are often skewed.  Still, they were off. My guess is non-disclosure laws are alive and well (except for the tax man) A realtor can share the comps. Zillow and Trulia are out of the loop.  

They might. I'm not an expert on these things but whenever I see data from Zillow in New Mexico, it's asking prices. I don't think anyone but a realtor can disclose sale prices in New Mexico. At least that's what my board tells me. We have pretty strict rules on how we can present sold prices. I have sat with clients that have relied on the Zillow prices and have shown what those homes have really sold for. Just sayin" Of course, things may have changed. I have no dog in this fight. 

New mexico is a "non-disclosure" State. Sites like Zillow and Realtor.com can only estimate off the "for sale' price. I would want first or at least second position on any deal. I think Matthew Cole is right. I would pass. 

I always look at the multi family section in the MLS. It always seems like ABQ holds it's income property dear. I find better returns and quality tenants with my condos.

I have had only one bad experience with Air BnB. The renter was supposed to be him, wife and baby. He was running a cable canvassing business out of our upscale home. They overloaded the septic, cigarette buds by the thousands, boxes (with puke covered left by the 50,s. They even disconnected our dining room light. We guess they were packing them in and kept hitting the light that was over the table.

Air BnB came through big time. They reimbursed all my expenses.

We do also have monthly renters and rent quite a bit to travel nurses. These are condos, so the numbers work. A more expensive single family home will probably not give you a good return. Travel nurses get a per diem and like to keep a little for themselves. So they are budget minded, but excellent tenants.

I buy HUD homes and also a Real Estate Broker. Almost all HUD homes in Albuquerque and Rio Rancho sell for close to the asking price. The only way to find a deal is to watch the listing and jump in as soon as the price drops.