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All Forum Posts by: David Torres

David Torres has started 39 posts and replied 298 times.

Post: New Mexico Right of Redemption

David TorresPosted
  • Full Time Investor
  • Albuquerque, NM
  • Posts 320
  • Votes 154
Originally posted by @David Lynn:

I have a question about the individual who deeds the house to someone who purchases the redemption rights. The case in point is in regards to someone who was Willed a property, but was unable to pay a reverse mortgage off. As a result the property has gone into foreclosure. An investor has approached the individual about purchasing redemption rights to the property. My question, is the money that is paid for redemption rights to the property considered an asset to the estate of an individual who has passed away? 

 David - why do you ask the question?  This is one for an attorney.

Post: Escrow Office in New Mexico - Wholesaling

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

@keith 

@Keith Meyerundefined I sent you a message

Post: April 2019 - Covering your assets with the Proper Insurance

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

This months speaker will be Kendall Magruder. Kendall has owned his Farmers Insurance Agency for 10 years and has taken those 10 years to help educate and advise his client base on how to get the most out of every aspect of an insurance policy for the least amount of money.


The topics that we will start with are:

• Various types of property insurance (I.E. What type of insurance do I need for a Flip, Rental, Apartment building, Etc)
• Appropriate coverage's
• Umbrellas - how to cover your assets - esp with regards to flipping
• Filing Claims

When: Wednesday, April 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/257170194/

______________________________________________________________


Our agenda will include:

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

About the presenter:

Kendall has assisted a high volume of clients improve their understanding of their personal and business insurance policies and takes an approach of education and referrals to grow his insurance practice. Kendall is consistently a top performer with Farmers Insurance and a member of their Topper’s Club which he accredits his success to his unique approach with his customers. Kendall loves spending time with his two boys Kane and Kamden and his lovely Wife Ali and when time permits he loves to go fishing.

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

Post: Is it easy to do the paperwork to sell land through owner finance

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

Ralph - you will need to do a Real estate contract.  Not something you can just go to the county and grab - you could work with a competent RE Atty and do the first one then copy the form going forward.

Post: Need an agent specializing in REO

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

@Michael Kay will send you a few referrals.

Post: Building 20 units next to a university

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

@Sam Askar they were able to get a slight premium, providing hook up.  If you have space for it, I would recommend avoiding a stackable, they are smaller and more expensive.

Post: Building 20 units next to a university

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

Not much to add here, but I think you should strongly consider putting laundry in unit.  Coin operated units are a maintenance headache, and not nearly as desirable. This is will also get them rented much quicker.

I own some units that I renovated and are much nicer than the neighbors units (refrigerated air vs evaporative, new flooring, landscaping, etc), but they are harder to rent because the competition has in unit laundry. 

Post: Need help from an Albuquerque agent!

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

@Charles Flaxel sent you a DM

Post: Need help selling 2500 sf Home for $142,000

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

@Wes 

@Wes Barnes DM sent

Post: March 2019 - The Impact of the TCJA on Investment Real Estate

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

On December 22, 2017 President Trump signed into law the Tax Cuts and Jobs Act, commonly known as TCJA. The Act is wide-reaching and impacts individuals, business and trust in both the US and international arenas.
Certain provisions, including lower business and individual tax rates and the complex tax breaks for pass-through entities are receiving most of the attention. One area that is not receiving much focus, but you should consider, is the Impact of the Tax Act on Cost Recovery and Real Estate.

This months meet up is designed to inform real estate investors, tax advisors and others serving the real estate industry of the recent changes to the tax laws, focusing on three major provisions of the final legislation:

• In depth discussion on 100% Bonus Depreciation. Bonus depreciation can create huge deductions, and improve cash flow for future investment properties.
• Non Traditional Financing
• Update on the changes to 1031 Exchanges.
• Qualified Opportunity Zones - New Tax deferral program with similarities to 1031 Exchanges.

Where: We will be meeting at the newly completed Red Fox Realty Training Center - in the Cottonwood Mall on the lower level near Dillard's.

When: Wednesday, March 20, 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/257170171/

______________________________________________________________
Our agenda will include:

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

About the presenter:

Cost Segregation Authority, LLC has been performing cost segregation studies since 1999. Their Cost Segregation experts include CPA's and construction professionals, who are leading experts in their fields. Their cost segregation studies meet and exceed the Internal Revenue Service's (IRS) Audit Techniques Guide. Their experts have been published and presented numerous seminars on cost segregation studies.

Erik himself holds a Bachelor of Applied Science in Accounting from Westminster College. Prior to joining Cost Segregation Authority (CSA), Erik was an operations manager for a multi-million dollar landscaping and design firm in Long Island, NY. Since heading west and joining CSA, Erik has been speaking at local, regional and national events. He brings with him a passion for identifying cost savings and educating commercial real estate owners on the benefits of cost segregation.

Erik Oliver
Regional Manager
[email protected]

Phone: 602-568-0032

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