All Forum Posts by: David Torres

Is there a REIA in El Paso?

@Isaac Ramos this is a tough nut to crack.  As you are well aware, traditional financing is taking between 45 and up to 60 days currently.  Will the seller be willing to wait?

Another problem you may run in to is the "Flipping" rule if they are going to be FHA. They may not be able to qualify for the financing for up to three months after the first transaction.

I have a few local sources that might fund this depending on the specifics.  When you get things locked up tighter, let me know.

We had over 30 people in attendance.  It was a full house.  Thanks for your support and we have some exciting things coming up over the next few months.

Earl, I haven't had a chance to look at the spreadsheet you sent over. Zillow, redfin, and other websites are decent, but remember NM is a non-disclosure state. That means that owners are not required to disclose sales price. So the MLS is your best bet for finding accurate real time comps in NM.

What part of town is it in?  What about a mobile home park?

Awesome Job!  The first one is the hardest to do.  If you need any help, feel free to reach out.  Post up pictures after it sells :)

The City of Rio Rancho is a PITA to deal with.  However, if you play by the rules and are respectful it is not too bad.

Awesome guys!  Excited to see the interest.  I have an investor friendly Mortgage Broker coming in February and the Senior VP of a title company that works with a lot of investors for March.  

And we have a website that is live.  I would love feedback from the community on the site.  Is there additional info you would like to see?  Any information missing?

http://www.abqreia.com/

Thanks for posting up guys.  I have updated the meetup to include some additional information on the speaker.  

Next month, I am working on getting an investor friendly loan officer to come in.  The person I have in mind has helped me close all of my investment transactions.  She really knows her stuff and can think outside the box!  At today's mastermind, there was a lot of interest and confusion this topic, and I know we can help get it straightened out.

I know of 2 phenomenal accountants that I can get to speak.  March would be a really good time to get them to come in for us, but it is crunch time for them.  If there is enough interest, I can reach out and get something set up for early this year.

It is nice to have so much interest.  Location has been a huge issue in the past.  We met over by the Eubank Costco.  For us west siders that meant a 45 minute trek.

Our preliminary location is going to be at the Unser Racing Museum.  They have a nice large auditorium that I am working on booking.  It is easy to get to from the west side (Just cross the river at Montano) and relatively easy to get to for the east side folks.

What topic would you guys like for February?