All Forum Posts by: Eloy Gonzales

Investment Info:

Single-family residence buy & hold investment.

Property is currently used as a STR and MTR

What made you interested in investing in this type of deal?

We like older properties and rebounding neighborhoods. They have a unique feel. This house was ideally located and priced.

How did you add value to the deal?

we just gave the place an overall facelift.

What was the outcome?

So far, the verdict is still out. The challenge has been a 20% increase in available STRs in Albuquerque and troubled economy. We are leveraging the reputation we have established to jump start this one ...but its been a challenge.

Lessons learned? Challenges?

Try to select properties that cash flow in the short, mid AND long term!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $15,000

Short term/mid term rental unit

How did you find this deal and how did you negotiate it?

We approached the owner of this property several times over a 3 year period and just made our interest known. Then we leased with an option to purchase to learn if the property would do well as a short term rental. Then we purchased.

How did you add value to the deal?

I offered the owner the option of using the property when she was in town in exchange for a reduced rent during the lease with the option to buy period. We also made some improvements such as tile work in part of the house. After the purchase we improved the outdoor space to improve occupancy rates.

What was the outcome?

The strategy was helpful to get the seller onboard with the quality of our service. It also gave her time to think through the idea before jumping on it. I don't believe she thought we would actually purchase.

Lessons learned? Challenges?

Gentle persistence and adding value to the deal even before it fully materializes is helpful.

Investment Info:

Single-family residence buy & hold investment in Bridgeport.

Purchase price: $180,000
Cash invested: $20,000

Short term rental, 2bed/2bath

What made you interested in investing in this type of deal?

A mix of personal use (translated, we wanted it to be nice enough for us to want to spend time there) and an interest in creating positive cash flow as a side Hussle

How did you find this deal and how did you negotiate it?

Realtor assisted.

How did you add value to the deal?

Improved the outdoor space to add "experience" value to the property

What was the outcome?

Well received. Books at a good price and is fairly busy for an Albuquerque property.

Lessons learned? Challenges?

You really have to be "all in" to do well with an STR