All Forum Posts by: David Torres

@Nicholas Seaver great to see another investor in the 505!  The best place to find meetups is generally meetup.com .  There are 4 or 5 groups that meetup Regularly

ABQREIA - third Wednesday of every month www.meetup.com/abqreia

ACRE NM - second tuesday - www.meetup.com/acrenm

Lets Talk Real Estate - fourth tuesday - https://www.meetup.com/Investing-in-Albuquerque-Re...

NM Real Estate Mastermind - first Saturday - https://www.meetup.com/New-Mexico-Real-Estate-Mast...

Apartment Investor Breakfast - Not sure if this one is still going 

I am happy to help and connect.

Welcome @Jon Paszkiewicz! ABQ is a great place to BRRR. It is one of my favorite strategies.

A great way to meet other local investors is to come out to the local investor meetings.  The one I host is this week on Wed (meetup.com/abqreia) the other 2 local meetups are listed on the meetup.com website as well (NMACRE and Lets talk real estate).  Look forward to meeting you in person soon.

Doing your first flip, are you having a hard time and getting anxious ?

No worries because this months speaker will be Luis Miramontes

Luis Miramontes is ‘The Bank's Party Crasher', and a struggling homeowner's Plan D. He raises money from investors, so he can provide the funding and construction services to homeowners who are facing foreclosure, at no cost to the owner. He started teaching himself real estate policy about 2 years ago, after being inspired by the book, Rich Dad Poor Dad.After a year of reading books, learning about the banking system and debt, listening to podcasts, and analyzing the MLS every Friday night, he met his mentor who would soon teach him for the next year. In that year, he learned a little about everything, including: assisted living facilities, foreclosures, redemption rights, wholesaling, and all the skills he would soon need for flipping houses.
He made about 1,000 cold calls, went on 10 site inspections, attended countless meetings and meet-ups, analyzed about 400 deals, and learned enough about the legal side of real estate to consider applying for law school. In May of 2017, he decided to fly solo, and has since done two flips with just $40 out of his own pocket.
He aims to close his 3rd and 4th flip before the end of December. His goals are to continue helping homeowners who don’t have the time, money, or resources to update their house and sell at a full price- retail value.

Luis will be talking about the common mistakes that Real Estate Investors do especially the new ones. How to do your first flip finding the deal and JV'ing with homeowners to drive expense and money raising needs down

Where: North Domingo Baca Multigenerational Center

When: Wednesday, August 15, 2018

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 $.

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/246422262/

______________________________________________________________

Our agenda will include:

6:00 Doors and networking
6:30 - 6:45 Haves and Wants
6:45-7:30 Luis’s Presentation
8:00 Doors close
________________________________________________________________

You can find out more about Luis and his business at MyNoRiskOffer.com, and on Facebook page at Facebook.com/noriskoffer

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

@Chris Lucero I would reach out to @Aaron Hollingshead, I know he is doing business in your market.

@Chris Lucero I am a buy and hold investor - but I also flip and wholesale.

Give Kim Kissane a call.  She is really good refinances for BRRRRs.

The numbers on that flip sound tight, but it might make a good rental.

How long have you owned the rental and personal home?

@Jay Hinrichs is right about the closing costs for land.  I bought a piece of land for $2k.  Here is what I got back from the title company on closing costs "Binder is $100, title insurance is $195, recording fee is $27.25 for the deed. Closing fee is $424.63".  Overall, $750 to close on a $2K piece of land.

I went down to the recorder instead and researched the land.  Same owner since the 1960s and nothing else recorded.  The other important thing was making sure the taxes were paid.

At the end of the day - Sold the place for $5500 on payments - $500 down and 10 each $500 payments.  I would do a thousand of these if I could!

@Chris Lucero good to hear from another New Mexican. I would suggest going to some of the local REIA's. It is really helpful to see what is working for other people in your market. Go to meetup.com and search for real estate meetups. There are at least 3. I host the ABQREIA meetup on the third Wednesday of the month, look forward to seeing you out there.

What kind of an idea do you have?  Maybe some people here can provide guidance as well.

Check out Sunwest Trust.  They are based in NM and we have had really good luck with them.

This months speaker will be Elias Salas, a housing compliance inspector for the ABQHA. ABQHA has been empowering people in our community through affordable housing and self-sufficiency opportunities.

The company's core mission is to help Americans living in poverty. They provide free information about current housing options under HUD's Section 8 Housing Voucher (Section 8).

Have you ever wondered what it would be like to rent to Section 8 housing?
I heard the inspections are tough, what are they looking for?
Will the tenant trash my place since they aren't paying for it?
How do housing subsidies work?

These are just a few of the questions that will be answered at this months meeting.

Where: North Domingo Baca Multigenerational Center

When: Wednesday, July 18, 2018

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 $.

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/246422135/

______________________________________________________________

Our agenda will include:

6:00 Doors and networking
6:30 - 6:45 Haves and Wants
6:45-7:30 Elias ’s team Presentation
8:00 Doors close

________________________________________________________________

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