I've looked at a few dozen properties in person in the last week and change, and a hundred or more online, and here's what I've seen; A lot of stuff that is almost a good enough deal to jump on.
That said, what do you do? I know this is basic, I know this has probably been harped on (heard some mention of it on podcasts, folks having a lot of offers out), but do I make some offers, and see what sticks, or do I keep looking, hunting for something to pounce on?
Matt I used to live in Abq. I moved to fl 2 years ago. Are you Looking in the ne or in rio ranching?
I would suggest you to analyze a lot of properties before you make any offers. I would further recommend analyzing each neighborhood for arv. Each major street in Abq means different values. If you are north or south of Indian school will mean 10k-20k. Anything easy or west of tramway can mean even more. Practice, practice, practice. The key to making money is analysis of the property.
Oh, and sniper.
Thanks Adam. I know you're 100% right on neighborhoods, one block here can mean 50k or more!
I'm looking East of the river, I don't know the west side, and I'm looking for primarily buy and hold stuff, but if I can buy it right, I'm not against a flip. I really like the idea of the BRRRR method, it seems to make the most sense with my current situation where I can buy cash on one or two properties, and use that to my advantage.
I have a few I'm looking at, one one particular one they would have to move about 15-20k on an asking price of 160 because there is a major issue with a retaining wall. This property has been on the market for half the year, so I'm thinking maybe I'll just low ball them, and see if it works.
I'm pretty fond of my money, and I don't intend on losing it, and I like analysis... but that also might be my problem....
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