All Forum Posts by: Fionna Chau

@Jonathan Wooten Amazing! Something to aspire for! You invest in other states?

@Jonathan Wooten that’s encouraging! I know we will find a deal! We have a local agent and has been very helpful with identifying areas to stay away from.

@Joshua Young Hello! Thank you for your input, I am seeing that first hand with our offers, it’s competitive and it has caught me by surprised for sure.

How have you seen newbie investors succeed in finding their first property in the market? Having more creative financing? Being more aggressive with their offers?

Thank you for your time your insight is very much appreciated!

@Russell Brazil thank you for the insight. I am rethinking our strategy to be more aggressive with the idea of more risk!

@Dan Portka thank you so much for the insight! My fiancé's dad lives out there and he has quite a bit of family there. His dad keeps saying it's becoming a hot market over the years and REI has always been an interest but never pursued it. I'm addition, Netflix is building a large studio over the next few years which we believe will significantly increase the rental market and eventually appreciation. Which we have seen first hand what filming industries do to states where they have major filming rights like Atlanta and I think Albuquerque may be next.

I am rethinking my investing strategy to perhaps focusing on appreciation since areas like Albuquerque are appreciating and a better cash flow will happen later. However, if I'm going to invest in an appreciating market my thought is to invest in LA where we can house hack it by either purchasing a property with an ADU or build one because rents are on the higher end, then move out. My justification for that is if we are living in it for half the mortgage and pay the rest out of pocket why not be in a home that we live in instead of putting into a property that barely cash flows and we may have to pay out of pocket as well. LA home prices are absolutely ridiculous though, but I'm sure there are pockets of up and coming areas that are reasonable. I guess I'm just feeling discouraged with the market right now and been going back and forth on where to get our first property!

Where have you been investing Dan??

Hello BP community! My fiancé and I are interested in the multi-family market in ABQ, we are OOS investors from Los Angeles. We currently have no inventory in our portfolio, but in comparison to home prices here in LA, we thought ABQ would be "easier" to start our real estate investing journey.

We were wrong... although prices are lower in comparison to LA, we are having difficulties finding deals worthwhile. Properties don't even come close to passing the 1 % test (which I know isn't the end all parameter) because market rents are fairly low in comparison to listing prices. IT'S DEFINITELY A SELLER'S MARKET! I find that sellers are listing their properties way above market value especially in desirable areas like Nob Hill. When I'm running the numbers the COCROI is mediocre at current rents and even with raised market rents it's still eh. 

I know there is a lot of potential for growth and appreciation in ABQ with Netflix and Amazon, my fiancé is in the film industry and we have seen first hand how much jobs it creates in areas where big studios resides. Just wanted an open discussion about the current ABQ markets, hear other investors' success stories, mastermind together about the market, etc!

Thank you for reading my 1st post! Hope everyone is doing well and healthy!