All Forum Posts by: David Torres

we are glad to have you here!  Be sure to check out local REIAs.  ACRE meets tonight (meetup.com/ACRENM).  Let us know how we can serve you.

@Jay Seward BRRR is the best! I have done it several times successfully. Good luck and let us know how we can help. The community is great here.

I sent his info to you in a private message.  Good Luck and let us know how it turns out.

I have an engineer that I can recommend.  He does plans as well, but you will have to sketch out the design for him and he can draw it out. 

@Ben Curry I did Kaplan.  There is a portion that you can do online, but they also require some in class time.  I believe the in class portion takes about 2 weeks and I did it at night.

Another thing to keep in mind, you will have some mandatory training after you get your license that is a week long.  If you have a job, this is an important consideration.

Let me know if you have any other questions.

@Joseph Graeve look up Guy Gemmer from PS Properties.  He has a property management company and is a member on the site.  He has always treated me right in every deal I have done with him.  Good luck and I would be happy to meet up with you when you com to town.

@Ann Villasenor welcome to the site! lots of great info here.  I would recommend reading the ultimate beginners guide and finding out which area interests you the most.  Additionally, the podcasts are amazing!

For local investing, there are 2 REIAs in town.  Albuquerque Congress on Real Estate AKA ACRE meets on the first Thursday of every month (http://www.meetup.com/ACRENM/).  ABQREIA Meets on the third Wednesday of every month (thats next Wednesday).  You can find out more information at meetup.com/abqreia or www.abqreia.com.

Look up Guy Gemmer on the forum, he is a local property manager and all around good guy.  His company is PSL Properties.

I know of a couple of horror stories where some unsuspecting citizen purchases a property at the sale, fixes it up, and then someone comes in and redeems the property.  There is nothing they can do about it.

The opposite happened on one of the deals I am working on, we redeemed a house, and while we were waiting for the deed, the bank came in and cleaned all the trash out of the house and secured it.  It was probably two 40 Yard dumpsters worth.

The junior liens can be tricky.  If they were named in the foreclosure, they get wiped out.  Some liens can't get dismissed.  Talk to your favorite local attorney and title company before you redeem a property.

A competent title company will be able to protect your interests (mostly). There is always the risk of DOS. Also, in NM you generally end up paying double insurance on Wraps. What is your ultimate goal with the property?