Buying Multi in Albuquerque
I live in a mountain resort town in southwest Co that saw a ton of appreciation in the last 10 years. We have a lot of equity in a single family home and are looking to flip that into 2x 3/4 plex in ABQ. I've been getting listing on the MLS for the past few months, seen some good deals, and things also sitting on the market, making me think I can make multiple aggressive offers in the 1031 window to try and find a deal.
Does anyone have any comments on the ABQ market? I like it because we are fairly close, and the numbers work. Wed be getting a property manager to handle the day to day of the property.
The goal really is to 2x+ our cash flow, I am also hoping to get a value add property to rince and repeat.
Most Popular Reply
@Victor Longinotti I think me might have run into each other when I lived in Durango. I ran a meetup up there, which Eric Nelson took over.
Anyway, I've been investing in Albuquerque for 10 years and I have a lot of insight into the market, especially which areas to invest in, and what to avoid.
A lot of the affordable deals are in bad areas, so they look great on paper, but reality is very different.
Do you have some specific deals you are interested in, I'd be happy to give you feedback.