2019 MARKET OVERVIEW

Albuquerque, New Mexico

Metro population:

911,000

Median Home Income:

$ 51,000

Unemployment rate:

3.6%

Median house price:

$ 156,000

Median monthly rent:

$ 1,223

Albuquerque, located in the middle of the Rio Grande Valley, is the most populous city in the state of New Mexico and the 32nd most populous city in the United States.

Known primarily for its annual balloon fiesta and as part of AMC's performance show "Breaking Bad," Albuquerque, New Mexico, is a metropolitan area rich in culture and naturally beautiful. Albuquerque is also one of the major cities in the southwest of the city, with a diverse population and some of the leading high-tech research enterprises in the country, including National Sandia Laboratories, Intel and the University of New Mexico. At the same time, its cultural traditions continue to be an integral part of daily life in the city. With one foot in the past, one foot in the present and two eyes for the future, Albuquerque is a fascinating place to visit and an even better place to call home. (Source: https://www.visitalbuquerque.org/about-abq/history/)

Why invest here?

Albuquerque is the center of the “New Mexico Corridor of Technology,” a concentration of high-tech private companies and government institutions located along the Rio Grande River. It is also home to Intel, Sandia's National Laboratories, Kirkland Air Force Base and four universities. And we can expect more jobs and movies to come out of the region as Netflix plans to move their new U.S. production center to the region. More exciting news for Albuquerque:
  • In October, Netflix announced that they will be moving their new US production hub to Albuquerque. According to the company, this should bring upwards of $ 1 billion in production money to New Mexico over the next decade and up to 1,000 production jobs per year.
  • In April 2018, Carenet Healthcare announced they will invest $ 3 million in a downtown Albuquerque location and create up to 244 new jobs. Carenet Healthcare will be supported by New Mexico's closing fund, LEDA, and Job Training Incentive Program, JTIP. New jobs in downtown Albuquerque will bring economic activity to small businesses and new development.
  • John Erwin, CEO of Carenet Healthcare, said the company is excited to expand their operations in New Mexico and is grateful for the support. The company will sign a 10-year lease on their building.
  • In April 2018, 2NDGear (a leading provider of certified refurbished IT equipment for educational systems) announced they will create 100 new jobs in Albuquerque and will be investing up to $ 1 million in its New Mexico operations. 2NDGEAR will be pursuing JTIP funding. Richard Heard, president of 2NDGEAR's parent company, Insight Investments, said New Mexico's hospitality and tax reforms helped his company decide to expand in Albuquerque. In the last two years, many cities were considered for their new expansion.

Financing a New Construction Project with a Loan from an American Lender & a Real Deal Example

Financing a New Construction Project with a Loan from an American Lender & a Real Deal Example - Noam Segal - Entrepreneur of the Week - Post 5

#EntrepreneuroftheWeek #RealEstate #Flips #BuyAndHold #BRRRR #Mortgage #Investors #RiskManagement #NewConstruction

Hi everybody,
Today I want to talk about getting a construction loan from an American lender.
Okay, so I'll start by saying that this is a really not a simple process for an entrepreneur who does not have an SSN or an American partner.
If you are able to find a body that is willing to give a foreign investor a construction loan, the lender will want to check on you both financially and in terms of real estate experience for you. This will directly affect the terms of the loan he will be willing to give you.
In addition the lender will also require to check with the operating contractor,
He will ask for:
• His company name
• Contractor's license
• Experience
• Examples of projects he has carried out in the last two.
He will ask you for tax returns from previous years, your and your company's capital statement, a printout of your bank account and more.
After you go through this step you will need to view the project details:
• House data you want to build such as size, number of rooms, baths, parking and more
• Architectural plan of the house you will build.
• An orderly budget for all construction
• General insurance of the contractor
• BUILDER RISK specific insurance for the current project
• The lender will send an appraiser who will assess the value of the home after it is built.
After going through all this bureaucracy usually anyone who has over 20 percent in the company will need to sign the loan, if you are not in the US you will need to use a POA and apostille power of attorney or find an American notary in the country (there are a few).
The lender will never give you the full cost of the project usually between 70-80 percent and will require you to put your money first before he puts his money.
There is no doubt that the process can be exhausting and sometimes everything seems to fall apart (it happened to us several times especially during the Corona period due to bureaucratic matters) but when it succeeds it fundamentally changes the returns of the project.
Two other aspects that I really like to get loans for are:
• The lender is actually another layer of protection in my tests and usually the appraiser is pessimistic, we almost always sold well beyond his forecast. If the lender is willing to give money then the deal makes sense.
• The loan is never given in advance, the money you will receive is against the things actually done and the correlation to the budget you submitted to them. This is another way to monitor the contractor's progress.
In the photos - one of the projects I did with a loan from an American lender.
In my next post I will give a numerical example of a project taken with an American loan without investors.

Continue reading on our site:
https://www.forumrealestateusa.com/2021/07/financing-construction-with-a-loan-from-an-american-lender-noam-segal/

my previous post I talked about conditions for getting a loan for entrepreneurs who do not have an SSN.
So as most of you know house prices have risen significantly and so have wood and various building materials.
Finding real improvement deals is not at all simple and within that also construction deals.
Today I will show you a real deal I made right at the beginning of Corona April 2020 and used a loan from an American private lender to carry out the construction.
The house is on a basement two stories above. House size 2634 SQ (without basement). There are 5 bedrooms and 3 bathrooms.
The price of the plot includes closing expenses - $ 61000
Construction price - $ 281500
Selling price - $ 420000
Brokerage expenses - $ 21000
Closing expenses (Tachles goes to the buyer's mortgage) - 3500
Total profit - $ 53000

Continue reading on our site:
https://www.forumrealestateusa.com/2021/07/an-example-of-a-real-deal-with-numbers-noam-segal/

-------------
If you are interested in Real Estate financing at the best rates for Foreign Nationals or Americans, we have an auction platform where hundreds of lenders compete on your loan!
www.NadlanCapitalGroup.com

Our YouTube Channel:
http://bit.ly/2GMQPB5

If you are interested in Real Estate Courses, Mentoring, Deal Analysis Report for a purchase you are about to do or an educational membership go to:
www.ForumRealEstateUSA.com
You can contact us on the site - we have more than 10,000 articles in 12 languages:
www.ForumRealEstateUSA.com

Or join the Facebook group -

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Read More »

Known primarily for its annual balloon fiesta and as part of AMC's performance show "Breaking Bad," Albuquerque, New Mexico, is a metropolitan area rich in culture and naturally beautiful. Albuquerque is also one of the major cities in the southwest of the city, with a diverse population and some of the leading high-tech research enterprises in the country, including National Sandia Laboratories, Intel and the University of New Mexico. At the same time, its cultural traditions continue to be an integral part of daily life in the city. With one foot in the past, one foot in the present and two eyes for the future, Albuquerque is a fascinating place to visit and an even better place to call home. (Source: (https://www.visitalbuquerque.org/about-abq/history/)

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Lior Lustig

Chief Executive - The Realestate Investor Forum

Lior Lustig has been an experienced real estate investor active in the field in Israel and the United States since 2007. Lior has extensive experience in the acquisition and management of single and multifamily properties.
Lior currently runs The Real Estate Investor Forum, which owns a real estate brand and interest, the Facebook group and the US Real Estate Forum website. Lior is versatile in a wide variety of investment markets in the United States and provides solutions to investors through the company.

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