All Forum Posts by: Sandra Chavarria

To follow up, we recently worked with Leslie Villareal  and she was absolutely amazing.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $169,000

First real estate investment and landlord experience. In early 2020, identified Albuquerque as an interesting city with multiple industries (Entertainment, Military, Medical) and affordability. Took the plunge and came up gold. currently on our third tenant, and have been fortunate with all of them. House came with a casita that we updated and are now exploring midterm rental strategy. Crescit Eundo!

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

Finally decided to invest in real estate after so much hesitation.

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

Began researching cities to invest, as CA was our home state and pretty unaffordable. Quite familiar with entertainment industry, so it seemed reasonable that our network could be utilized for finding tenants. Also the prices and homes that were available were hard to resist. We offered $5K below asking, and eventually settled on a $5K credit due to a number of fixes that needed to be addressed.

Bought in 87108 in fall of 2020, SFH and have been renting it out. Now on 3rd tenant and cash flow and appreciation has been solid. definitely feel like we struck gold at the right time. However, 87108 area overall hasn't improved much, but the city in general feels like it's ready to boom - finding a decent home as either a rental or a fix n flip has been challenging the last few months - especially since interest rates rose. still looking for the next deal in this fun town... appreciate your insight.

Bought in ABQ toward end of 2020 - based in CA - but was able to navigate visits and day job to manage the SFH ourselves. Definitely a hassle, but keeping track of all expenses helped with minimizing the taxes. Also encouraged open communication with both sets of tenants and was responsive. 2 hour flight or 12 hour drive still seems manageable since the market has evolved to our favor since 2020. Good luck.

Considering to make an offer in next 24-48 hours on a SFH in ABQ that has a huge "loft" or workshop on the property that seller says has no permits. Speaking with my lender, this could affect appraisal and loan approval. However, given the purch price and potential of the location for rental income, trying to determine if any strategies to see if the structure could be permitted or come in with a lower purch price offer are viable strategies. Thank you.