I just recently moved to Alamogordo New Mexico and bought a house and I have a few questions, when I move in a couple years would it be better to rent out my house or just sell it and move on to a bigger and better area? if its a good place to invest then should I buy and flip here or buy and rent the property?
I lived in Albuquerque for 6 years and my in laws have lived there for over 20 years. I have never been to Alamogordo but I don't think that it would be the best city to invest in. I know that there are a lot of oil and gas towns in NM and if Alamogordo is one of them then you may have a steady rental but I don't think that you would see much appreciation. I would advise you to seek out Abq, Rio Rancho or Santa Fe because this is where the jobs are and this is where NM's population growth is.
Alamogordo has Holloman AFB which brings in lots of military and contractors. That's about all there is besides the space museums. Las Cruces and El Paso are better areas to invest in, but you may find good deals in Alamogordo too.
Thank you for all of your input on the matter I was kind of thinking the same things but I just wanted to hear it from someone in the business. I guess I will just look at the rental/sellers market there when the military sends me to another base and determine if it's better to sell or rent it out, and definitely not buy another there to rent now as an investment rental
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!