All Forum Posts by: Kevin Hernandez

@Patrick Torres thanks for the heads up! When I had called their agent, they already received a 400,000 cash offer. I now understand what @Guy Gemmer was talking about when he stated the difficulty of finding multi-family properties in this area. 

Thank you @Lydia S. and @Tyler Mace for your suggestions! It seems like most of these areas do not have many multifamily homes. I might have to settle for a duplex but I am keeping my eye out for a triplex. Currently looking at NE heights but will also look into the Sandia Mountains region!

@Guy Gemmer hello! Thank you for your quick response! I will be going to New Mexico in March just to visit and look at some houses. 
After doing the math, it seems like there are only 2 houses that will bring in immediate cash flow the first year (since one of the units would be occupied by me). I believe at this point I would be okay covering part of the mortgage. However when I move out the following year to purchase the next property, the four units would need to bring in some kind of cash flow. I also don’t mind “sweat equity”

I would like to thank you both so far for providing some information! I truly appreciate it

@Patrick Torres thank you for your advice! It seems like choosing locations based on schools will help with the property value and will bring in long term tenants. 
I will continue looking at areas in the Northwestern part and closer to the university if possible. I think that you are right, if I see a property that I like I need to put an offer in immediately. I have actually lost 3 properties like that already! Thank you again, I really appreciate the help! 

Hello everyone! I am originally from Florida but my fiancee and I will be moving to Albuquerque because she got into medical school. Are there any areas that are recommended to purchase a home with an FHA loan? I will be staying in the first property for at least a year but will then continue buying and renting other properties.

Thank you all in advance!

Hello everyone! I am originally from Florida but my fiancee and I will be moving to Albuquerque because she got into medical school. Are there any areas that are recommended to purchase a home with an FHA loan? I will be staying in the first property for at least a year but will then continue buying and renting other properties.

Thank you all in advance!