All Forum Posts by: Michael Christensen

I'd appreciate some feedback from those investing in Albuquerque around refinancing a mutli-family property where I'm finishing up the rehab.  

Do you have to wait the full 6 months of seasoning before moving on a refinance?

How long has the refinance process taken for you?

Do you have recommendations for individuals or companies you've worked with in the area to move this forward?  

There's a lot of uncertainty right now, though the RE market is still strong.  I'm hoping to finish the refinance before any further economic issues, as I'd like to leverage what's leftover from the refinance for opportunities if there's a market downturn.  

Thanks for the responses guys! I'm glad to know others are having success investing locally. In my very brief experience in REI, seems like the team you have is the most important aspect of investing successfully, and I'm excited to meet and work with others in the state who've seen that success.

@Jacob Fedechko I'm curious what drew you to the Utah - Provo market from NJ?  I'm also local to Utah, and have been considering investments here but the cash flow numbers haven't been working out with the initial properties I've evaluated.  Granted, I'm still pretty new to RE investing so looking for cash flow over appreciation, but I'd love to hear your thoughts as well as anybody else here who has insight into our market.   

Hello BP community!  Glad to be part of this great group, and looking forward to meeting more of you.  I'll provide some details about myself:

Background:

I live in Utah, currently working full time at a tech company as a manager of a technical team.  Married with four children.  Love my job, and I love finance, real estate, and investment topics and I'm looking to take the next steps in all those areas.  

Real Estate:

We paid off our own home over this past summer 2019 (I know, probably could've invested that extra money, but we wanted to be out of debt), and I recently purchased a three plex in New Mexico as an investment/rental property that provides a good cash flow. We're currently rehabbing that property, and already have two of the units rented out while finishing the third. I'm hoping to go the BRRRR route and refinance the property after our rehab.

Future Plans:

I'd really like to get more involved in investment in my home state, as I'd be interested in being the owner/manager of properties close to where I live.  Problem is the Utah RE market is crazy, prices have gone through the roof over the last 4-5 years, and cash flow was pretty bleak as I was looking initially.  I'll probably continue investing out of state for now, unless good opportunities arise in my local market.  I'm hoping to connect with other investors locally to better understand my market and investigate local opportunity, but I'm open to opportunities anywhere in the country.

I look forward to learning from and contributing to the discussions here.  Feel free to reach out if you want to connect!