well sometimes we have short memeories or your young enough to just be getting starting in RE business.2 things happened in phX that tanked those values.. 1. politics kicking the illegals out.2. building stopped tenants leftMuch of this housing was and is hispanics they were fleeing back to mexico for political reasons and because new contruction stopped loss of job was huge.so you had 4 plex's go vacant or only have one or 2 tenants.And of course the dreaded turn over which always cost money along with under capitalized owners in many cases could not afford negative cash flow along with turn over expenses led to a melt down.things have rebounded... same thing happned in Vegas with the 4 plex's there.

The finishes were simple, and the owners took many steps to keep the costs as low as possible: the owners found bath cabinets, doors, and sinks from Habitat for Humanity, bathroom floor tile in Mexico, kitchen cabinets  from IKEA, wood kitchen counter tops from Floor and Decor, and the wood floors were made of A-C Plywood sheets.  

@Carlos Flores Congrats!! 

Attention whole sealers in Rio Rancho Albuquerque or anywhere in New Mexico I'm looking to buy and would like to end up on your buyers list thanks Cameron

My wife and I, Ashley, are looking for like-minded investors in New Mexico and the west Texas area to learn and work together. 

We now have a new Mastermind Meetup Group: http://www.meetup.com/Bigger-Pockets-New-Mexico-Re...Next meeting Jan. 2 at my new vacant rental house.

If anyone here has further opinion and is familiar with New Mexico State Laws and regulations, I would appreciate any advise.

Here’s the Super Lease strategy that resulted:In New Mexico, on a residential rental, we are only allowed to collect a deposit equal to a month’s rent, and we can require the last month’s rent be paid up-front as well.

The exception is in dry climates with either hot or mixed (hot and cold) temperatures (these climates are found in the non-coastal, non-mountainous part of California; the southern tip of Nevada; the southwest corner of Utah; southern and western Arizona; southern and eastern New Mexico; the southeast corner of Colorado; and western Texas).

I have been investing in Vegas for two years and I've bought and sold property, managed vacation rentals and I am currently building SFH in Mexico.