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All Forum Posts by: David Torres

David Torres has started 39 posts and replied 298 times.

Post: Albuquerque Market - Why are prices increasing?

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

@Kristen Marino I did a presentation on the state of the market in ABQ at last months ABQREIA.  Here is a copy:

https://drive.google.com/open?...

Highlights - 

NM Populations is not growing as fast as a lot of other places

NM Unemployment is at 4.9% (full employment is considered 6%)

July 2018 Inventory 3500 Detached Homes -  July 2019 Inventory 2300 Detached homes!

July 2018 Absortion 3.7 Months  - July 2019 Absortion 2.3 Months

July 2018 Median Sales Price $210k - July 2019 Median Sales Price $232K

Lots of good employment coming in to town - Intel and Sandia are hiring for sure.  My Rio Rancho rentals are getting picked up in a heartbeat due to intels numerous new employees and contractors.

In short - its a simple supply/demand imbalance.  Great topic!

Post: September 2019 - Fix&Flip-Buy&Hold Investor Programs

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

This month's speaker is Charlie Sparks!

Charlie began his mortgage career as a Loan Officer in St. Paul, Minnesota in 1986. Having lived in the Midwest all his life, the winter weather finally got the best of him and he arrived in Albuquerque in 1997. Here he served the New Mexico mortgage community for the next decade as an Account Executive and Branch Manager for a few national wholesale lenders, as well as a Board Member and Executive Director of the New Mexico Association of Mortgage Professionals. In 2008, as the mortgage industry was adjusting to economic conditions, Charlie returned to his roots a trusted mortgage adviser and eventually joined Finance Of America Mortgage in May of 2013.

Charlie will be primarily speaking on the positive changes to their no-income-qualifying Fix & Flip and Buy & Hold Investor programs.

Cover Charge is $10 per person, however your first meeting is FREE!

When: Wednesday, September 18th, 2019
Dress: The dress is always casual

Do you like ABQREIA Meet UP's ? Don't miss out on this new opportunity to get annual membership for just $ 100. 

Cover Charge is $10 per person.

To sign up contact Dave via e-mail at [email protected] or just come to our Meet up in person.

We now also take Credit Cards!

You can RSVP here: 

https://www.meetup.com/ABQREIA/events/257170354/

______________________________________________________________
Our agenda will include:
6:00 Doors and networking
6:30 - 6:45 Haves and Wants
6:45-7:30 Charlie's Presentation
8:00 Doors close

Keywords: Albuquerque, ABQ, Rio Rancho , Santa Fe , New Mexico , NM

Post: Buyers in Roswell, NM 👽👽👽

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

@Aaron Hollingshead does some things in that are

Post: 💸 2381 SF Duplex - Fresh Wholesale - ABQ NM 💸

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

Wholesale Price
$112,000

**Realtors- Add your fee (whatever you like), over and above the asking price**
Click for more Photos
Property Details
  • Unit mix
    • 2 Bedroom/1 Bath Current Rent $700 ( potential rents $999)
    • 1 Bedroom/1 Bath current rent $650 (potential rents $695)
    • Full rentometer report attached
  • 2381 Sq Feet (huge)
  • Plenty of parking
  • Rent Ready Units
  • Work done in 2005 (per MLS)
    • Gas Lines Brought Up To Code
    • New Electrical Meter And Wire To Box Inside With New Electrial Panel
  • Mature Landscaping
  • Home can be used as duplex or in-law quarters

Post: July 2019 - Mobile Home Park Investing with Tosh Hoshino

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

This months speaker will be Tosh Hoshino. Tosh is a commercial real estate broker that specializes in the mobile home park asset class.


We will discuss:

How to Find, evaluate, and make offers on mobile homes
The difference between commercial and residential investing
How to deal with private utilities (well, septic, etc)

When: Wednesday, July 17, 2019

Dress: The dress is always casual

Do you like ABQREIA Meet UP's ? Don't miss out on this new opportunity to get annual membership for just 100 $.
Cover Charge is $10 per person.

To sign up contact Dave via email at [email protected] or just come to our Meet up in person.
We now also take Credit Cards!

You can RSVP here:

https://www.meetup.com/ABQREIA/events/257170318/

______________________________________________________________
Our agenda will include:

6:00 Doors and networking
6:30 - 6:45 Haves and Wants
6:45-7:30 Tosh's Presentation
8:00 Doors close
_______________________________________________________________

About the presenter:

Tosh is a native of Japan but moved to El Paso, TX with his family and later
attended the University of New Mexico on a golf scholarship. He graduated with his business degree from Anderson School of Management with a concentration in Management Information Systems. He enjoys riding his road bike trainer from the comfort of his home and fly-fishing in the San Juan River.

He has been in the customer service industry for 19 years, with over 10 years of sales experience in the high-end automotive industry. Tosh prides himself on the relationships he's built over the years and is always ready to use his outstanding customer service skills to fulfill the needs of his clients.

Contact Info:

Tosh Hoshino
Associate Broker
Absolute Investment Realty
505-803-0387
[email protected]

Keywords: Albuquerque, ABQ, Rio Rancho, Santa Fe, New Mexico, NM

Post: New Mexico Land Investing

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

what @Jay Hinrichs said is VERY true.  

We do pretty much exactly what he says, buy cheap (really cheap), sell on terms and make it back after a few years.

Post: New Mexico Land Investing

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

@Kwambe Smith I have bought a bunch of land in Sandoval County.  .25 Acre is no good if it requires a septic.  You need a minimum of .5 acre for the septic and if it is less than an acre it requires an advanced treatment system.

For $1500 - $1900 I highly doubt the availability of power, water, and sewer.

There is little to no appreciation on these, there are tens of thousands of lots still available.

Sent me what you have and I can give you a read on them.

Post: New Mexico Land Investing

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

@kwambe smit

@Kwambe Smithundefined they could be great lots or they could be total duds and worthless desert.  You need some local knowledge.

Post: New Mexico Landlord or Tenant friendly?

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

What is your definition of LL friendly?

Post: SELLING SOMEONE'S REDEMPTION RTS - HOW DOES THIS WORK pros/cons?

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154

@Annie Irizari I have a presentation that I give.  I would be happy to send you a copy of it if you are interested.  Lots of gotchas in the redemption rights game, but lots of good deals as well