All Forum Posts by: Jens Nielsen

@Jose Bustamante

For Albuquerque, cCan you tell me what areas of town and property quality (A, B or C)?

In the more challenging areas of town, I'm getting $700-800 for a 1 bedroom + utilities and $900-1000 for a 2 bedroom + utilities. That comes out to about $1.3-$1.4/sqft

In a better area of town, I'm getting $800-950 for a 1 bedroom. ~$1.4/sqft

I have used T&C Management since I started investing in Albuquerque 7 years ago.
I've been satisfied with the company.

What kind of properties do you need management for?

@Jeff Stevenson welcome to BP.
I have invested in Albuquerque for 7 years, and have seen a lot of changes. It's not the hidden gem it used to be, but you can still find good deals.
Send me a PM and I'll send you my calendar link and we can jump on a call.

Jens

@Marcus Cordova

Welcome to BP.

There are several great meetups in Albuquerque where you can network and learn more about the business. 
Here's a great one:


Investing in Albuquerque Real Estate Meetup (Albuquerque, NM) | Meetup

Jens

Hi @Allen Tracy

Happy New Year

I'm an investor in Albuquerque. We own about 65 units there.

I'm happy to connect if you have any questions or need help.

Jens

Hi @David Wood 

I live in Santa Fe, but own 65 units in Albuquerque.

My advice would be to attend meetups to connect with fellow investors. 
I run one in Santa Fe: 
Multi-Family Investing for Cash-Flow, Santa Fe Chapter (Santa Fe, NM) | Meetup

You can also consider the ones in Albuquerque:
Investing in Albuquerque Real Estate Meetup (Albuquerque, NM) | Meetup
Apartment Investor Breakfast (Albuquerque, NM) | Meetup

I hope this helps. 
Jens

We own over 600 apartment units in Cleveland Heights, Lakewood, and Mentor OH, of which quite a few require rehab to bring to market rent.

We struggle to find enough contractors for this work.

I know that this is a common problem, but if anyone has any recommendations for contractors in that area, that would be awesome!

@Kendall McFadden welcome to BP.

I have been investing in Abq for 6 years, and have owned 6 different properties, from 4 plexes to a 38 unit apartment complex. 
Abq has seen a lot of rent growth this past year, so it’s a great market to invest in. At the same time, apartments are expensive and the competition among buyers is high. You need to be careful about the area you invest in. The city has some challenging neighborhoods. Especially east of the Fairgrounds. 
Feel free to DM me and we can connect further to talk about the market. 

Hi @Jens Tutzauer Well, this is fun! Another Jens on BP.

I have been active in Abq for 6+ years, and it's hard to find good cashflowing MF properties. People from CA keeps pushing up the prices ;-)
I'm curious though if the raising interest rates will cause a slowdown or price pullback. Too early to know.

I also syndicate apartment buildings, and we have often partnered with 1031 money in a TIC structure. That may be an option for you?

Jens

I would potentially be interested. Can you DM me some info?