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Easy Street Capital: Leading DSCR Lender for New Mexico!
#3 Private Lending & Conventional Mortgage Advice Contributor
- Lender
- Austin, TX
Real Estate investors looking for cash flow and appreciation are flocking to New Mexico to build rental portfolios. The Land of Enchantment State is a current favorite of real estate investors due to many factors including a strong and stable economy, a growing population and beautiful scenic markets perfect for vacation rentals. Easy Street Capital is proud to be a leading provider of rental property loans for real estate investors looking to build rental portfolios in New Mexico!
Types of Loans for Rental Properties
When it comes to real estate investing in New Mexico there are many markets and types of rental property loans to choose from. For investors adept at rehabbing properties, hard money renovation loans are a perfect choice! These rental loans allow you to buy a property quickly and finance your rehab costs as well! Once you are done, you can either “flip” the property for a quick profit or pursue the BRRRR Method by renting it out and then refinancing into a long-term, low-rate DSCR loan!
Long-term DSCR Loans are also great for investing in turnkey rental properties. Turnkey refers to properties that are rent-ready and require no rehab work. Move-in ready single-family homes and fully furnished vacation rentals are great for cash flow and price appreciation. Most DSCR Loans are fixed rates for thirty years, locking you into a fixed interest rate for a long time. If historical patterns continue, rents and appreciation increase steadily each year. But debt costs stay the same for fixed-rate 30-year loans. This means cash flow should increase every year of ownership for properties financed by a DSCR rental loan.
Investors in New Mexico’s rapidly evolving real estate market are delighted to discover the absence of prepayment penalties, allowing them the freedom to refinance as needed without any financial constraints. While it’s important to acknowledge that some lenders may adjust the interest rates slightly higher to account for this flexibility, the overall advantage of unrestricted refinancing options remains highly advantageous for investors.
Where To Invest In Real Estate In New Mexico
New Mexico is also a favorite market for real estate investors because of its diverse market options. There are lots of varying markets that offer great potential for each type of real estate investor. Albuquerque is the largest city in the state and home to the flagship university, University of New Mexico. Santa Fe is the state’s capital and fourth most populous. La Cruses is in the southern part of the state and experiences steady population growth. Rio Rancho offers a mix of residential and commercial properties and is the third most populous city in the state. Lastly, Taos is a popular destination for skiers in the winter and hikers in the summer!