All Forum Posts by: Leah McNell

Eloy- we invest in ABQ as well. One thing we found extremely helpful was listing our Airbnbs on furnished finder. There are a lot of traveling nurses that come to ABQ and need mid-term housing. From what we have gathered, quality housing is not easy to find for traveling nurses so the demand for good places is high. We have had a ton of success. 

Angel Fire works! We have several properties in Angel Fire and continue to pick up more. It is an untapped market that relies heavily on tourism so their STR rules are minimal. We cant wait to see where it will go in the next 10 years. If anyone is interested in learning more about Angel Fire or investing in Angel Fire, let me know!

Hey! We live in ABQ now and have a couple investment properties near the CNM/UNM area. I would love to chat further with you about what right looks like in ABQ. The best part about our properties is that we use multiple rental strategies based on time of year or demand (traveling nurse, STR, long term rental) as this location is right off of I-25, near two colleges and several hospitals.

Hey Andrew! 

My husband and I also work full time jobs and wanted to diversify our portfolio by getting into real estate about 3 years ago. We now own 6 doors and 3 of them are in locations that we can vacation to! Its a win win for us! One of our vacation rentals is located in Angel Fire NM. Markets like Taos, and Santa Fe have a higher barrier to entry and when running numbers, you will be hard pressed to find a STR that makes sense. In addition, Taos has very strict STR rules.

My husband and I searched for a long time in these areas, and discovered Angel Fire! The barrier to entry is low, and the numbers work! Our two units up there have a ROI of around 15-18%. In addition, we can go up there and escape the Albuquerque husse and bussle whenever we want. Perks to Angel Fire is that it offers year round rentability. There is a ski resort there as well as a top rated bike park. Let me know if you want to chat more about Angel Fire and the numbers we run on our units.

I would love to attend/help set up a meet-up! Was there much interest last time? I have some clients who are looking for a couple off market deals (multi-families and single families). Would love to connect with other investors/realtors in the Albuquerque area. 

Diana, 

My husband and I live in a triplex in Abq and rent the two other units out. Its a great way to get into the investing game all while providing a cheaper living option for yourself. I am a realtor in the ABQ area and would love to meet up to chat more about investing if you are interested. I can help walk you through numbers and see if a certain multi/house makes sense. Let me know! 

Investment Info:

Condo buy & hold investment.

Purchase price: $77,000
Cash invested: $13,000

Found this condo in a great location in Albuquerque. This condo is located in a gated community, and improvements are being made to increase the value of the property.

What made you interested in investing in this type of deal?

Great deal, with the potential for a good amount of cash flow.

How did you find this deal and how did you negotiate it?

MLS

Lessons learned? Challenges?

This condo has an HOA associated with it. If you are looking for a more hands property, HOA is a great way to go. However, you need to make sure your numbers work with the HOA included into your calculations. Additionally, you need to make sure the HOA Is organized. Some HOAs do not add value to the property and cause more headache than benefits.

Investment Info:

Condo buy & hold investment.

Purchase price: $289,000
Cash invested: $25,000

Angel Fire is a ski and bike resort in New Mexico, perfect for first time investors to explore the STR world. Because it has year round activity, there are only a few slow months during the year.

What made you interested in investing in this type of deal?

Year round activity!

Hi Kendall! 

Welcome to the Real Estate world. It is a little like golf, fun, and frustrating at times but always rewarding in the end.   

My husband and I moved to Albuquerque about a year ago, and it is a good market (compared to other crazy markets) to get into. We own multifamily units here and STRs in Angel Fire, NM . In the past 4 months, we have been actively looking to purchase another multi-family but right now, the multi-family market is tough. You have to come in with overasking price offers, and often waive the appraisal gap. I know a wholesaler who finds off market deals that I can connect you with. 

I am local in Albuquerque, so if your are interested, I can help you navigate this market. Send me a private message and we can work together to get you your first investment property. 

Hi Jens- We live in ABQ and have been trying to buy a multifamily property for the past 7 months. the ABQ market right now is hot, especially with multi-family properties. Buyers are coming in with cash offers and waiving appraisal fee.  My husband and I have put in 15 offers on multifamily's (either at asking or above) and 0 of our offers have been accepted. Run your numbers, and offer and what you think is smart, but just know, multifamliy properties in ABQ are a hot commodity right now and if you out in an offer, make sure it is aggressive!