All Forum Posts by: Account Closed

PMI of New Mexico is the only one I've had personal experience with. They are great people. Just be sure to communicate clearly with them what your expectations are for working with them, you role, their role etc.

Hey David, not sure if you remember me but I'm coordinating the REI meet ups for Las Cruces. Just saw this post and your mention of your cover charge for your groups. How has that worked out for you? Is $100 for an annual membership a good rate? Do you have to pay to rent your meeting venue? I'm considering moving to a membership fee for next year just to help it feel more official for some people and to help grow commitment to the group. We are having decent attendance now. I'm happy with it. But it's an idea I'm bouncing around because of thoughts I've heard from others. I'd love your perspective too. Thanks

If you ever find deals farther south, my husband is a GC in Las Cruces and is the type of GC you described. Haven't heard of anyone in ABQ though. Hope you find what you're looking for!

I love your idea and hope you find a good candidate. I'm sure when you do find someone with 25% to put down that person will be the right one. Because I just don't know many people here in Las Cruces at least that would have that much. Even those with significantly higher incomes than average I know don't have that much saved up for a new home (I'm in an area where I meet lots of people buying new or building new homes). Anyway, not trying to be discouraging, just don't know anyone I could refer you to. But I really would love to know more about the type of people you find that ARE good candidates. I'd love to understand more about the type of person that does have that much saved for that purpose. Best of luck! And if I do think of anyone or ideas of where to find someone I'll be sure to pass them along!

Other thought...do you often find millennials that have 25% to put down? I just don't imagine many first time homebuyers coming in with that much cash. We certainly didn't with our first. We did make it to 10% but it was a very small home/mortgage.

Trina S. Have you thought of purchasing properties for cash and seller financing them? I have a friend here in Las Cruces that has made that his whole strategy...his niche is seller financing to people like you're talking about. He only asks like 5000 down (all properties) and I think does 6% and he's loved it because they often end up moving and deciding owning isn't what they want so he sells it again to someone else and gets another down payment and so forth...typing on my phone so not sure if I'm explaining well :) Anyway, just a thought. I know it isn't exactly what you're looking for.

Following. I'm curious about this answer too. I live in Las Cruces and my husband has considered wholesaling for a bit as our new business gets off the ground but I'd love to understand more about working with Title companies too. Great question.

Eric Schalk thanks for sharing about your experience here!! I'll PM you later today when I have more time. Just wanted to make sure to thank you for commenting here. My husband and I would really love to hear more about your successes with small MF because we've had an opposite experience and want to learn how to be profitable in that and what we may not be seeing here. Looking forward to talking!

Thanks @David Torres! I've heard about that a few times now so it's probably time to look into it :) Thanks for the info. 

@Brie Schmidt That is fantastic info! I can't tell you how excited I am for this help. Yes, I agree about talking with the group first.  I'm looking forward to tonight to talk with everyone.