Out of state investing. New Mexico anyone?

[Ryan Anderson]

I live and began investing last year in Utah. Getting competitive to find decent cash flow properties. I was told by someone that New Mexico has a good market for multi family. Anyone with experience for or against this? Thanks

[Robert Swingle]

I am not an expert in any sense of the word, but I moved to albuquerque about 3 months ago and I've been all over the city looking for deals. Single family houses are too expensive for the amount of rent the could pull. Small multifamily could be profitable if bought for the right price. Most of them are listed to just above the 1% rule. If they exceed 1.5% you either found a good deal or it's in a very bad part of town. Now I've been seeing the numbers looking way more promising on commercial properties. All the local investors I talk to tell me I have to get the deals off market to make the numbers good. again I am no expert and this is all my personal opinion. Check out loopnet.com in albuquerque to see current commercial properties here.