All Forum Posts by: Candace Majedi

No worries! Thank you @Mike Lambert this was very helpful! At least now I have a few other markets to consider instead :)

@Steve K. Thank you SO MUCH for your invaluable insights. I am truly grateful. I definitely want to go visit first. I was thinking of going this Christmas with my family (husband and two daughters aged 9 and 1 year old) but because of the Zika and other possible diseases I think I'll wait until my little one is older. 

@Fan Wang where did you purchase? Can you share any details?

Thanks everyone for sharing your experiences! I'm currently in negotiations on a (previous) senior housing facility because it's laid out as a triplex - 5/3 upstairs, 2/2 basement with separate entrance, and studio casita with seperate entrance. Each one is handicap/wheelchair accessible. Right now we're at $460K, furnishings included. The only way it really works is as an AirBNB, or I was thinking about making it student housing by renting out each room (it's literally a block from campus). It's older though, and the first inspection wasn't good. We're getting second inspections done this week. Will let you know the outcome!

Hi all,

I listened to a podcast recently where the guest mentioned investing in real estate in Belize. Pair that with my desire to start over in a tropical destination (I work in IT and can work anywhere) and I started thinking about Belize. Does anyone invest there? Do you know of a good place to buy? I'm looking buy a multi unit on some land that I can use as an Air BNB when I'm not there. Somewhere near the caribbean sea, with running water, electricity, etc. Do you know how much it is to build a couple casitas from scratch? Any insight would be helpful (cities that are cool, builders, etc.).

Thanks!

Candace

Yes that sounds about right @Matt GarThat’s in line with what I saw in the properties last month. I grew up there, and the incomes are very low, you’d think the housing prices would also be lower. @Jesus Moreno what areas are you thinking? I used to work for Sandia Labs.. are you thinking near the base? I also heard rio rancho is doing well. Any thoughts there?

Hi everyone,

So I flew to Albuquerque and attempted to find good deals. I found a couple that could've worked with some creative updating to get to the 1%, but it just seemed like a lot of work and money for not that big of a payoff. The 1% rule worked out closer to I-40 and Carlisle area, where the tenants rent were already close to meeting the 1% without too much updating. But we want something closer to UNM. It's a different type of tenant, and appreciation would be better and there would be more options (Air BNB). All in all, I just wasn't wowed by any listings I saw. I think it's best to get off market deals in ABQ. I also have to add that I own a condo in Los Angeles, and renting this place out would net us a couple hundred a month and in the long run we'd end up with a 600K asset paid off vs a 250K asset paid off. So for now we're slowing down our ABQ search.

I'm looking at properties in the "student ghetto" area, south of UNM but only about 2 blocks from campus. I see some updated homes, and some that really need TLC. I'm trying to buy low so I can make a few tweaks, raise the rent a little and get to the 1%.  I don't understand why the housing is so expensive. Can anybody shed some light?

If my memory serves me right, if it’s a 6 bed facility or less the owner of the property has to be the owner of the business. I just remember there being more involvement, I think at least needing to come by and be available for questions from family/patients every week. Also, I’m sure the person legally responsible for the facility signs and fills out LIC 200. 

@Karen Margrave and @Napoleon De Guzman The first step to licensing is passing the online orientation class (which is Component 1) through the Department of Social Services Community Care Licensing Division (CDSS). It took a lot of research and a phone call (gasp!) to figure that out. It costs $50. Its EXTREMELY helpful, and explains everything needed to start a RCFE facility. I'll send the URL when I get to my home computer.