All Forum Posts by: Guy Gemmer

Welcome to BP! I have found the forum to be a great networking tool, especially here in Abq. I'm wondering if we can get pictures of this Frisco broom closet?! Lol I might be up for doing a 1031 Exchange.

Hey Michael! Long time, no talk. There are definitely things that can be done to increase rents, however, it's always ends up being a balancing act of whether the expense is worth the return and fits the size and location.

We'll be glad to have you in the Abq! I just might know of a Guy that could help with multifamily investments. Feel free to give me a shout and we'll talk apartments and the outdoors. Guy

Hello Clayton! Welcome to Bigger Pockets and to real estate investing. Good on you for doing your homework and checking out the podcasts. Keep it up! I'm a local small multifamily and single family professional so I might have answers to some of your questions should you have any. Be sure to check out the club meetings. Visit www.abqreia.com to get a glimpse at the upcoming speakers, dates and times. It's an awesome resource and a great way to meet people who are already in the game! - Guy

Tell Matt Gee about the annuity and tell me about the multi! :) What kind of experience do you have with rentals?

I would definitely be interested in being a part of something like this. I own and operate a property management company here in Albuquerque as well as a 25 unit and 12 unit building. Give me a shout once you get some additional details laid out. Guy - 505-280-4042

Good morning Lydia S. ! My understanding from conversations with civil engineers is that soil composition is definitely a part of it, but maybe not in the way you think. We have a lot of clay in the soil here which makes for poor moisture absorption and causes water to run and pool instead of caking up and creating 'mud.' In addition to causing erosion, running water takes the path of least resistance and finds its way in between things. As if that weren't bad enough, our climate here makes for temperature swings between 30 and 40 degrees on a daily basis. A high in the 60's with a low below freezing, creates expansion and contraction that causes serious damage when water isn't wear it's supposed to be. All of that being said, if maintained and planned correctly a basement can be a great use of space to add square footage where the lot may not permit. Hope that gives an extra little insight! :)

I have some solid and reliable vendors. Feel free to shoot me a text and I'll get you their contact info. Guy 280-4042

Welcome to the wonderful world of Real Estate investing! I would be more than happy to support your business and help you fund deals. Feel free to reach out with any questions. Make sure you're making it to local groups and seeking out wisdom from the pros! There are tons of people here that will be willing to help. Good luck!

Jens Nielsen I own and manage quite a few multifamily properties here in Albuquerque. Based on the numbers you provided I'm guessing the units are nice 1 bedroom units in a good area or 2 bedroom units in a rough area. - Either way, the expenses and vacancy provided are likely much leaner than the market norms and the cap rate is probably closer to 1% I have a 4 Plex of 2 Bedroom units listed right now at $145k with $525.00/month rents - If that gives you something to compare with. That being said, a 4 Plex of 1 Bedroom Units that's been recently remodeled, in Nob Hill, with a 5% vacancy rate could be a great long term investment. Factor in the ease of management, low maintenance, depreciation, and tenants reliably paying down the principal for you - Very well could be a great addition to your portfolio whether it cash flows or not. It's really about your goals and what you're hoping to accomplish. Good luck!