If possible, a single family, detached property would be ideal. Condos and town homes tend to appeal to a smaller pool of buyers. Whereas, with a single family home, when it comes time to unload the property, a detached home will appeal to more buyers. You will have all different types of people in different stages of life looking more seriously at a single family home.
There are too many property manager companies out there to count. Find one that you feel comfortable having a long conversation with and walk away feeling good about what he/she had to say.
River's edge III is within walking distance to Rio Grande and The Bosque (res for wildlife)
I am an RN and have lived in the home, and am the owner.
The house is 4br/2b with garaage, landscaped green, new cooler, remodeled kitchen
Asking 189K, rent is 1200/mo
Let me know if interested, I was just thinking of liquidizing, and saw your share
Zach | http://eastvalleypropertymanagement.com/company/about
I currently own 2 rental properties near the university and you can't go wrong there, but here is a little more detail on what I think is optimal, based on my own experience as an investor. You want to consider rentability, property value potential, and bang for your buck. I think the best option is to buy a 3BR/2Ba near UNM, but toward Uptown, because you can always rent to students if you'd like (which I do) or you can rent to many others since it is a super convenient central location with very nice areas - I currently have one unit rented to an Air Force serviceman. Home values in this area are great and will hold as well as anywhere, due to the location and the fact that Uptown will only increase as development eventually does finish (delayed by this economy). The UNM area has held value very well and I have outlined some general boundaries I use: http://budurl.com/ABQRentals
I think anywhere in this area can work well, but I tend to focus more on areas between UNM and Uptown, where you can get a little more for your dollar and still rent to students or military or families, and values are likely to be as strong as possible. I also tend to look for main houses with guest or in-law qtrs, which instantly improves your ROI, although there is some risk if the house is zoned R-1. I can email you more detail regarding a strong strategy that reduces risk and maximizes return along with some good example properties anytime, just let me know. Best of luck Kathleen, this is the time to buy!
The areas surrounding UNM and the university hospital attract students, faculty, doctors, etc. Involved in several rental properties in that area - the phenomenon of professionals moving into town for work who can't sell their homes where they are coming from and need to rent does exist. A pool of qualified renters is always a starting point for any property you decide on.
As for property management companies, there are many to choose from depending on your property location. You can expect to pay average of 10-12% for their services.
Talk to you soon and have a great day! Chris