All Forum Posts by: Jens Nielsen

@Bill Olivent I look forward to meeting you on Wednesday!
I was actually on a call with our Santa Fe HOA yesterday and a couple of city council members joined in. They are definitely clamping down on short-term rentals. It may be easier to find something just outside the city limits where the restrictions are less onerous.

@Laura Geiger There are still deals to be found. I'm working with a client who has gotten three apartment building leads from his direct mail campaign. That being said, you may need to find a different market. It has been a while since I have purchased anything in Albuquerque. Currently, we're focusing on the upper midwest. 

@Anthony E Graves I may also be in a position to help with your loan needs. Let me know if you want to connect.
For the rehab, I ended up using a contractor from Rio Rancho. The experience has been OK, but not great.

@ThomasRoy Penland Nice progress so far on your rentals.

When you say start a business, what do you mean? Are you considering going into RE investing full time, or are you looking to move your assets out your own name?
As @Levi T. mentioned, you are already running a business with your rentals. It may be a sole proprietorship, but you should still treat it as a business. 
I own 75 units in Abq and have syndicated many large deals around the country, and I started my first LLC before I even had my first rental property. Taxes do get complicated, but that's why we hire professionals to do that work for us.

I'm also not sure it's a great idea to have two paid-off rentals. If there is ever a lawsuit from a tenant you have a lot of equity at risk in those properties. You should consider talking to an asset protection attorney about that.

Let's connect if you want to talk more.

@Mark Hughes Bernalillo county just got some funds for rental assistance. I have not looked in detail, but it may be something that can help your situation.
https://www.bernco.gov/economi...

@Tim Robinson for Albuquerque you should connect with @Joshua Christensen for your PM needs.

@Keegan Uderitz My properties was a combination of broker connections and direct mail. The smallest I have is 11 units, and the largest is 38 in Abq. I live in Santa Fe, NM.
I would avoid the area around the fairgrounds, the so-called international district has a lot of challenges and not recommend for new investors. 

@Keighton Leftwich welcome to Albuquerque (soon).
I own 75 apartment units in Abq, and I know a lot about the different areas. 
Let's connect if you want to learn more.

@Emily Martorano Yep, we still meet monthly. Please sign up, we'd love to meet up.

I had my PM (T&C Mgmt) contest the tax increase. They charged me 1/3 of the amount I saved in year 1.
Worth it for me.
But @Kirsten M. I would see what the market can support in terms of the rental increase. If the market can support a $100 increase, then go for it.