All Forum Posts by: Marc C.

I'm also looking for one that handles massive initial rehab and then rent increases well. For example, with kicking everyone out in he first 90 days and doing a complete rehab.

Joe Fairless says he used Landlords Cashflow Analyzer, www.rentalsoftware.com, but it can't seem to handle that. ($129; Excel-based.) The IPad apps aren't detailed enough either.

I will check out http://www.syndicateddealanalyzer.com/ from The Michael a Blank, to. ($120)

Any others?

You could buy 5 rental units in one day with multifamily. I have not been able to implement BRRR on SFRs in Santa Fe and NE Albuquerque and get 1%/mo. For houses caked $130-$175K it's been real tough, so i'm selling and turning back to multifamily over 5 units, where the bank will INSIST on cash flow. For SFRs, Rio Rancho may offer something better, or SE or South Valley ABQ properties valued at $100K might work.

Bank loans on >4 are easier to get than on smaller buildings because the bank looks at the PROPERTY's performance more than the borrower. There is a meeting of the Apartment Investor Mastery group in ABQ next Thursday and the topic is, "Why Multifamily?" ... search Meetup. I am also holding the Apartment Investor Breakfast Club on Friday the 9th from 8:00-8:30... see Meetup or the events section of BP. 

Hope to meet you guys at an upcoming event! 

The other REIA groups in Albuquerque/Santa Fe (BP deleted my post with the links) are listed on Meetup.com. Just search "real estate" within 100 mi. of ABQ and you'll get:

• ABQREIA, $10/meeting. Different speaker each month. 
• ACRE, (ABQ Congress on Real Estate), which is the granddaddy of clubs in ABQ and meets twice monthly. $10/meeting. Different speaker each month. 
• New Mexico Real Estate Mastermind group (for experienced investors; meets next Saturday, 9/3). It is free. You will also find info on this one in the Events section here on BP:
  https://www.biggerpockets.com/forums/521-events-an...
• My new Apartment Investor Breakfast Club, which meets Friday, 9/9 and October 14. It's free on 9/9, but $10 in the future (donated to charity). You will also find info on this one in the Events section here on BP:
  https://www.biggerpockets.com/forums/521-events-an...
• Apartment Investor Mastery, which meets on 9/7. It has a commercial sponsor, Brad Sumrok's Apartment Investor Mastery, and it is ultimately promoting his particular multifamily syndication coaching/training system out of Dallas. I've heard Brad on several podcasts and he's always informative (he does not attend local Meetup). I plan to be there. It's free. 
• New Mexico Tiny House Association, which is currently online-only on Meetup and Facebook, but very active online. Free. 
• New Mexico New Investors/Wholesalers (their site on Meetup says all monthly meetings cancelled until further notice after their August meeting). 
• Santa Fe Real Estate Investment Assoc. $99/year. Meets 9/22. 

And I apologize if I missed any. Hope to meet you at one of these! 

Marc C. 

Are you an active (or experienced) real estate investor? Do you own now, or have you owned within the preceding 3 years, at least one investment property? Then we urge you to attend New Mexico's only real estate "mastermind" group to network with other active and experienced investors and discuss your buy-and-hold and fix-and-flip strategies.

See https://www.meetup.com/New-Mexico-Real-Estate-Mast... for location and to RSVP.

• Never a fee to attend.
• Must RSVP on the Meetup.com group.
• Never any "pitching" or promotion during the public portions of the event. (Reserve your pitch for the one-on-one networking session). 
• Held on the 1st Saturday of each month at 10:00 am, lasting to 11;30.
• We meet at a different member's rehab or rental project each month (see the Meetup page for location about a week before each meeting).
• Format: 1.) Introductions. 2.) Sponsoring member discusses the details (numbers) of his or her project that we are meeting in. 3.) Member "Haves and Wants" discussion. 4.) Networking.
• Sorry, these meetings are reserved for EXPERIENCED investors..."newbies" are only allowed to attend if they are invited by and accompanied by an active member. 

Interested in apartment investing? So are a lot of us in Albuquerque and Santa Fe! That's why we've formed the Apartment Investor Breakfast Club, https://www.meetup.com/Apartment-Investor-Breakfas.... Join us on October 14 at 08:00 at a restaurant in central Albuquerque. (See Meetup.com link for location.)

• Speaker topic: To be announced on the Meetup.com group. (We'll be inviting appraisers, brokers, property managers, title companies, and, of course, successful multifamily investors to speak at each monthly meeting)
• The talk begins at 08:30; show up at 08:00 if you'd like to network with fellow investors, brokers, property managers, etc.
• The talk will be followed by a "Haves and Wants" discussion from the floor.
• Future meetings will be held on the 2nd Friday of each month at 8:00am and the locations will be announced on Meetup.com.
• We will be charging $10.00 to attend (must pay in advance through the Meetup page). However, all funds collected will be donated to the charity of the speaker's choice.
• Sponsored by investors: We will NOT be selling anything or pushing any vendors or products at these meetings, and we ask attendees to not promote any commercial activities during the public portions of the meetings. (What you do in the one-on-one networking portion is up to you.)
• For the latest multifamily news and discussion, see our Facebook page: https://www.facebook.com/multifamilypartners/. UPDATED DAILY!

Interested in apartment investing? So are a lot of us in Albuquerque and Santa Fe! That's why we've formed the Apartment Investor Breakfast Club, https://www.meetup.com/Apartment-Investor-Breakfas.... Join us on September 9 at 08:00 at a restaurant in central Albuquerque. (See Meetup group for location.) 

• This month's topic: "APODs, Cash Flow, & IRR: How To Correctly Value Multifamily Properties." 
• The talk begins at 08:30; show up at 08:00 if you'd like to network with fellow investors, brokers, property managers, etc. 
• The talk will be followed by a "Haves and Wants" discussion from the floor. 
• Future meetings will be held on the 2nd Friday of each month at 8:00am and the locations will be announced on Meetup.com. 
• The September meeting is free, but we'll be charging $10.00 for future meetings...which will be donated to the charity of the speaker's choice. 
• Sponsored by investors: We will NOT be selling anything or pushing any vendors or products at these meetings, and we ask attendees to not promote any commercial activities during the public portions of the meetings. (What you do in the one-on-one networking portion is up to you.) 
• For the latest multifamily news and discussion, see our Facebook page: https://www.facebook.com/multifamilypartners/. UPDATED DAILY!

Hi, Everyone! Seems like we have a lot of interest in apartments and other multifamily options in Albuquerque these days. It's a small community: There are only 4 brokers who specialize in apartments, and just a few appraisers and major property managers. We're working on a way to connect all of us with monthly meetings and online. If you have an interest, please message me for details. 

Well, actually, Zillow and Realtor get their data from the MLS in non-disclosure states. So the numbers ARE based on real cost-per-sq.-ft. data. And I find that it tends to be pretty accurate for Albuquerque. I mean, if you know that all of the houses in the area have sold for $100 and yours is brand new inside and you're asking $110K, you'll probably get some nibbles. (Obviously, gross generalizations here.) But, you have to know the comps...as in, how do they compare with yours?

Petr: No, I haven't talked with any, but there are lots. 

Why does she need you instead of just a commercial hard money lender? Looks like a very "thin" (skinny) deal to me, Petr. If you want to loan hard money, contact some of the hard-money lenders and let them make all the arrangements for your money. They offer proper vetting of the sponsors and deals and pay you roughly 12% annually on your money. 

I agree with the other two New Mexicans. There ARE 4-plexes that make sense here, but most are management-intensive and do not appreciate. All depends on the neighborhood. If it's the worst building in the neighborhood, then upgrading it would help. But don't overupgrade a building into an A- when the neighborhood is all C-. The types of tenants who would pay more rent to live in an A building won't put up with the crime and safety issues of a C- 'hood. And most of them in Albq. are that. Unless you have some specific reason to invest in Albq., I wouldn't do it for 16 units from so far away. You need a local partner.