Anyone from El Paso, Tx willing to help me out?

Question

This new endeavor is new to me. I look forward to the challenge ahead. I just need a little push here and there to get me started. In the mean time, I have been nose deep in reading, researching  and YouTubing trying to get smart on it. If there are any experienced investors in the area willing to show me the market and share their knowledge and experience with me it would be greatly appreciated. I thank you in advance.

Yasir Einaudi · Answer

Hello @Jason Chambers!

That is awesome, I am too using BRRR strategy with multifamily, ironically with the scope to jump into commercial eventually.

I don't do flips, but have a couple of clients that do, hence my constant research on new properties and contacts with wholesalers.  I send them deals already analyzed depending on their budgets, etc.

Do you have properties in a specific area or focus in the returns?

Yas

Jason Chambers · Answer

@Phil Begay my wife and I are both active duty at Ft. Bliss. We've been investing in El Paso for about 5 years now. We've focused primarily on multi-family properties using the BRRR strategy. Since I was deployed so much we focused our efforts toward building passive income. I'm on terminal leave about to retire so I have quite a bit more time to focus on RE. I'm looking to transition to commercial property and also trying to build a deal funnel through wholesaling.

@Yasir Einaudi what kind of properties are you looking for to flip? Let's link up.

Yasir Einaudi · Answer

The best tip I give to new investors is to go out there and analyze deals, every day for weeks.

Once you feel an idea of what a really good deal is (since you have analyze hundreds of deals you will know), pull the trigger, don't hesitate, it won't last on the market.

You will learn so much from the first deal that it will break or make you (hopefully the latter.

Good luck!

Yasir Einaudi · Answer

Hi @Phil Begay!

Good job on the researching on your own, there is a ton of info in bigger pockets and out - that can guide you to some extend on the intricacy of Real Estate Investing.

You will first have to choose a strategy and stick with it, This is vital if you want to learn and improve within that niche. Otherwise you will be jumping from strategy to strategy, My two cents.

For instance I don't do flips, or wholesaling, I focus in rehabs, rents and holds - via BRRRR and focus mainly in Multi-units.

Saw that you were deployed, once you are back hit me up and we can sit down and talk a bit.

Keep safe!

Yas

9155020261

Kelvin Kroeker · Answer

Jason, keep up the great work!! Would be great to talk again, Kelvin

Yasir Einaudi · Answer

@Jason Chambers

You know your market quite well!  I will DM my info, I would be grateful to provide more opportunities to my investors that are looking to BRRR deals.

Thanks

Yasir

Jason Chambers · Answer

@Yasir Einaudi I'm trying to build my buyers list. As I get properties under contract would you mind if I sent them to you? It's a win/win for your buyers and you more than likely get the sale after the rehab. I'm getting calls daily for distressed properties and going on more appointments than I can handle.

I'm a big fan of central El Paso. I'm following the changes in the city and I expect all the expansion east and west is going to leave a void for young professionals that would prefer to live closer to where they work and hang out. Who really wants to drive 45 minutes to get to work in EP of all places? All our multi-family is in central, Sunset Heights, and Kern. We stay at 100% occupancy and have very little turnover. Rental markets are crazy strong and central EP neighborhoods are changing quickly. I specifically like single family with ARV's in the 125k range. That seems to be the sweet spot for both rentals and first time home buyers or young families.

Phil Begay · Answer

@Mike Miller

That’s some pretty good insight. What better time to retire and invest.

Yasir Einaudi · Answer

There are always going to be foreclosures in every city, mainly because people buy without knowing what their personal capex is, they then go out there and buy the most expensive home they can, and not surprisingly the minor hiccup in their lives becomes a disaster. Divorce, Probates, Family Issues is another reason for these.There are currently 83 of them in El Paso (see map), As you can see these are spread-out throughout the city.

During the first 6 months of 2019, 240 of these properties have been sold compared to a total of 3,400 non foreclosures - about a 7%.

Phil Begay · Answer

@Yasir Einaudi

Thanks man. I've been noticing a lot of foreclosed and ready to auctioned properties on the market. Judging from an agent in El Paso, is that an average trend in the market or does it fluctuate?

Anyone from El Paso, Tx willing to help me out?

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