All Forum Posts by: Luis Miramontes

ladies thank you very much for your input. @Claire Trammell can I use yellow letters in Albuquerque, NM, or is it only local?

Hello, Does anyone who is reading this use direct mail letters as a source to reach out to owners whose properties are financially distressed or close to foreclosure? If so, what criteria do you make sure to use in writing those letters? Thanks in advance to everyone who replies. Luis

Thank you Jonathan! I will keep that in mind, since I'm really interested in 4-plex's and they are not much more expensive than some duplexes in my area. Some single family homes are actually more expensive than multi-family's; However, anything can change right? I definitely look forward to telling you what the outcome was when it happens

@Lenny B. I'm sorry, I wonder how that data could be wrong since it licenses their data to the government and it updates every couple of months. Maybe it's an underlying formula and the way they use it to determine the vacancy rate; Nevertheless, I still recommend you use it for other data.

Way to go Carlos Duran . I am a investor in Albuquerque looking to buy my first property- a 4 plex- by July-ish. Never the less it excites me knowing people in New Mexico who have had success that I dream of as well. Keep at it!

Hi Mana Silva how long have you owned the property for?

@Aaron Hollingshead What a great story! I've never been much into rehabs, but the way you found this place and the way is shaping up is truly an exciting thing to see. I'm a new investor in the Albuquerque area looking to pull the trigger on a 4-plex in July and I look forward to the things ahead.

Hi Adam, I'm in Albuquerque, but I would like to share a tool that I use and has helped me tremendously in identifying and knowing markets in different areas. Try going onto neighborhoodscout.com and look up any market close to home or about and then you can decide what you want to do. Best wishes, Luis

also, @Wes Brand CAP rates really only apply to commercial properties right?

hi guys,

Thank you for replying! @Christy Harris,@Wes Brand, @Brent Coombs

The reason I'm asking is because from what I know, a cap rate is an indication of rate of return assuming you bought the property cash. So, ideally you'd want to buy at a high CAP rate and sell at a low one. But I also know that if an area is appreciating in home prices you would be able to accept a lower cap rate since you're substituting the appreciation of the house and if an area isn't appreciating at a fast pace then it would make sense to accept a higher cap in substitution of a slower appreciating market.