All Forum Posts by: David Torres

@Guy Gemmer  I bet you wished you would have held on to your place on Utah St :)

What are you seeing for rents for these units?

Quick example in Rio Rancho - 2 bed 2 bath was renting for $900 in 2019 now renting for $1350.  Loco

That is a crazy trend @Guy Gemmer.  Looks like values of fourplexes are on their way up.

There are several companies in town that will offer the contesting service for 1/3 of the savings.  It is a no brainer, especially when you own more property.

Don't let the tax tail wag the dog when it comes to rent increases.  It is a business decision.  The question I would be asking is are these good tenants?  Do they pay on time?  Do they take care of the property? What is the rate they would pay if they had to move?

Not an easy decision!  Good luck!

Thanks Lee!   Josh, send me a message and let's connect!

Bob - you can look up the RANM form for the real estate purchase.  It is long but it is complete.

Title insurance is always a good idea.

Make sure you have all your ducks in a row

It is driven by the state insurance board.

Most have a great online calculator tool.  Here is the one for Old Republic Title

https://www.ortconline.com/Web...

@Chase Kimbrell it would definitely not be difficult or illegal to line up a property manager once you have a tenant.  

Just make sure to do your research before you jump in with them and they will have a process to get you integrated in to their system.

The only challenge will be migrating your tenant from your system to the PM's system, there is always a switching cost (delayed rents, etc during the first few months)

For the flips I do up there, I generally bring contractors from abq.  Ends up being cheaper as the contractors in Santa Fe generally charge significantly more.

I work in NM - send me some info and I will see if I can fund it.

Nmlists.com has the best info

Look up redemption rights before you buy anything at the court house.  It is a unique circumstance we have in our state.