New investor in Santa Fe, NM
Just signed up and am curious about BiggerPockets. I'm trying to move beyond just reading about investing in real estate.
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You could buy 5 rental units in one day with multifamily. I have not been able to implement BRRR on SFRs in Santa Fe and NE Albuquerque and get 1%/mo. For houses caked $130-$175K it's been real tough, so i'm selling and turning back to multifamily over 5 units, where the bank will INSIST on cash flow. For SFRs, Rio Rancho may offer something better, or SE or South Valley ABQ properties valued at $100K might work.
Bank loans on >4 are easier to get than on smaller buildings because the bank looks at the PROPERTY's performance more than the borrower. There is a meeting of the Apartment Investor Mastery group in ABQ next Thursday and the topic is, "Why Multifamily?" ... search Meetup. I am also holding the Apartment Investor Breakfast Club on Friday the 9th from 8:00-8:30... see Meetup or the events section of BP.
Hope to meet you guys at an upcoming event!