All Forum Posts by: Eduardo Sanabria

Before I mention all the juicy details, is ANYONE interested in purchasing this great house? It's 1800 Square feet, very nice 10 yr. old 4 beds 2.5 baths, 1942.00 sqft property for only  177K... it's a gorgeous home with luxury finishes!!! 

We just closed on our first investment in El Paso, Tx. we plan to flip this one. I will post updates as we go. 

Thanks to the BP community for ALL your help. 

Great story. You might want to add a few numbers. Most of us think the figures make the articles "juicy". You know, purchase price, sale price, etc. also, the # of hours of toil and sweat you spent on oh, so many things. Put some pictures in, and not only do you have a great story, you are EDUCATING all of us. Thank you for sharing. I am sure the next one will be EVEN better.  

Agreed. Live on the West side, invest on the NE, avoid using I-10 (when it gets jammed it's a pain) it's better to go TransMountain.  Welcome to Sun City!!!

Welcome to BP. I live just 20 minutes away from Cruces. (in  ELP). Like you, we are looking for those pesky deals! El Paso is as contested as anywhere else, but there is money to be made if yow are willing to do your due diligence...  Good idea abit the networking... there are a couple of groups down here...

Great that you got going. Congrats. As other members suggested, would you mind sharing what type of cashflow are you getting? Therefore, disclosing CoC, which is ALWAYS interesting...

Dennis, if you take an opinion, (which, you didn't ask for) El Paso is an area famous for its  low-wages. The median  income a few  years ago was 35K, today might be 40, perhaps 45K yearly. If you take that into account , a $385K property is very High-End here. You did all the right things, but maybe you want to try the exercise with a lower cost/price ratio. I know in California $300K will get you a 1bd apt. Here you can buy a mansion for that price. (I might be exaggerating a little, but most people in El Paso will not purchase a 300K, almost 400K house). Are there people who do? Yes, Doctors, Lawyers, and Biz owners. But median income is something you MUST take into account (along with another gazillion variables) when you purchase your properties,as it affects the sale-ability, how quickly and how $ profitable you can sell.  You ARE in the right area, but this is an exercise in getting experience and, good or bad, you got more now! Please Keep us posted. Thanks for sharing and keep up the good work! 

Giovanny, I have a couple of questions, if you don't mind. For a Buy and Hold, 177K is a little high price for El Paso area. Following the 10% rule (mtg is around 10% of the price), your mtg payment should be around $1500K/Mo. First of all, in an area where the median income is $35-40K yearly, houses of more than $1200/mo. rent are harder to rent. So I am curious, can you share some more details, for example, how much is your mtg. payment, how much did you rent it for and how long did the property stay in the market before you rented it? I am from here, and fairly knowledgeable, but my assumptions about the area my be wrong. Thank you. Eduardo.  

Welcome to SUN CITY!!!

A great one is Erick Garcia from Garcia and Associates, here in El Paso, tell him that Eduardo and Patricia Sanabria sent you.