All Forum Posts by: Lee Ripma

I stick to location fundamentals, demographics, income, school ratings, crime, population and median income growth, and national credit chain indicators (Starbucks, target, etc).
VestMap.com is not free but you can lookup this info for any location in the US quickly!

1 Vote

@Ryan Edwards

Guide to Kansas City Zip codes

B+ zips

Blue Springs

64015

64014

Grain Valley

64029

Lee’s Summit

64068

64063

64081

Raymore

64083

Kansas City, MO

64145

64112

64101

Liberty

64158

Northland

64152

64151

64154

64155

Shawnee Mission

66217

66216

66219

66215

66210

Olathe

66026

66061

Prairie Village

66205

Gardner

66030

B zips

Kansas City, MO

64105

64114

64111

Kansas City, MO

64137

64138

64108

64111

64131

64110

Independence:

64055

64056

64057

North Kansas City

64119

Overland Park/Merriam

66202

66203

66204

66214

66212

66214

B - /C+ zips

Gladstone

64118

North Kansas City

64116

64117

Independence:

64052

Raytown

64133

Grandview

64030

Belton

64012

Kansas City, KS

66112

66106

C zips

Historic Northeast:

64124

64123

Kansas City, MO

64129

64130

64109

64132

64134

Independence:

64053

64054

64050

Kansas City, KS

66102

66103

66104

66105

Riverside

64150

D zips

Kansas City, MO

64125

64126

64127

64128

Kansas City, KS

66101

4 Votes

@Bobby Paquette

Trick question right? The market matters way less than the skill of the investor /operator! There are dozens of markets and hundreds of submarkets that will meet an investors goals and they can be successful in.

2 Votes

@Remington Lyman

100% agree but I think the one you need first is a rockstar realtor and then you can get the other members once you have a deal UC that you’re pass contingencies on. No point building the rest of the team until you have a deal!

0 Votes

Columbus, Ohio

This is not tax of legal advice!
A high income earner and a REPS are a match made in heaven! As others have said you need to do at least 750 hours or more time in RE than anything else. Checkout Brandon Hall’s resources around REPS. You want to be an investor who buys real estate not an agent. Just my opinion on the matter!

0 Votes

Checkout Vestmap.com DISCERN reports, it’s got what you’re looking for and you can test it out with a free trial.

2 Votes

I had this issue when I started out investing in Kansas City from CA. I got a lot of nos from local commercial lenders until I found banks that were willing to work with me. I think this is a kiss a lot of frogs situation. Find local lenders who are willing to work with you, ask for referrals, cold call, emphasize your local pm and investment locally. Get them on the phone or even better meet them in person. You’ll get there!

2 Votes

Quote from @Logan M.:

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $900,000

Comprised of 38 units.

Currently, the occupancy rate stands at 44%, indicating room for growth and increased rental income potential. Although the property requires significant improvements, the projected final rents are estimated to reach approximately $20,000 per month.

The purchase was made through seller financing with nothing down.

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

Zero downpayment, seller financing with a lot of value add potential.

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

KSL, similar to Craiglist.

I met with the seller and

How did you finance this deal?

Seller Financing

How did you add value to the deal?

Renovations on vacant units and filling those vacancies.

What was the outcome?

Work in progress.

Lessons learned? Challenges?

Get work done faster.

We had 3-months without payments and I wish I would have finished all of the renovations during that time period instead of trying to figure out how to manage a new community.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Self-represented.

Awesome deal! Keep us posted!

1 Vote

Checkout the DISCERN reports at VestMap.com. Report for any address nationwide.

0 Votes

Detroit, Michigan

@Nick Bandiera - I started out of state investing from San Diego in the Midwest - huge fan. There is no reason you can’t start out of state! I talk about it on BP373. Get going, you’ll be glad you did!

3 Votes

All Forum Posts by: Lee Ripma

Lee Ripma has started 13 posts and replied 2028 times.

Post: Best websites for comparing real estate market data? (US)

Post: Kansas City Missouri Zip Codes

Post: Best Midwest Market ?

Post: OOS Investor looking for a team(Core4)

Post: Cost Segregation to Reduce High Taxable Income

Post: City map by neighborhood class type?

Post: Commercial portfolio lending help

Post: Seller Financing a 38 unit mobile home park

Post: Websites/apps to determine safety of a neighborhood

Post: Starting out - long distance investing

Lee Ripma has started 13 posts and replied 2028 times.

Biggerpockets Logo Post: Best websites for comparing real estate market data? (US)

Biggerpockets Logo Post: Kansas City Missouri Zip Codes

Biggerpockets Logo Post: Best Midwest Market ?

Biggerpockets Logo Post: OOS Investor looking for a team(Core4)

Biggerpockets Logo Post: Cost Segregation to Reduce High Taxable Income

Biggerpockets Logo Post: City map by neighborhood class type?

Biggerpockets Logo Post: Commercial portfolio lending help

Biggerpockets Logo Post: Seller Financing a 38 unit mobile home park

Biggerpockets Logo Post: Websites/apps to determine safety of a neighborhood

Biggerpockets Logo Post: Starting out - long distance investing

Post: Best websites for comparing real estate market data? (US)

Post: Kansas City Missouri Zip Codes

Post: Best Midwest Market ?

Post: OOS Investor looking for a team(Core4)

Post: Cost Segregation to Reduce High Taxable Income

Post: City map by neighborhood class type?

Post: Commercial portfolio lending help

Post: Seller Financing a 38 unit mobile home park

Post: Websites/apps to determine safety of a neighborhood

Post: Starting out - long distance investing