All Forum Posts by: Lee Ripma

@DeAngelo Tatum - I personally do one on every property I buy, even if small! But as @Linda Weygant pointed out it is often a question for you personally. 

Quote from @Edwin De leon:

You as an investor ...What interview questions would u ask a real estate agent to determine if you want to work with them  and make part of your team, you want someone that will not be telling you here is nice countertop which is of no value  to u as investor ...... you only want to hear  things of value investors want to hear about on any rental property u are considering and not trivial things like here is a nice SEPEARATE door entry for your pet 😀 

How many rentals do you own? I give my clients first crack and the deals and sell at least a deal a week I would personally buy. So I don’t buy that a good agent is in competition with their clients. I don’t have the bandwidth/capital to purchase more than 2% of what I sell. If they own rentals, have done rehabs, and are well-networked they are likely to interview you and not the other way around! 

I love algorithm based cost seg studies. I have used KBKG in the past but I currently use DIY cost segs, https://diycostseg.com/who-we-...

I like them better than KBKG because if you make a mistake you can correct it. Feel free to reach out to me for a friends and family discount code. I do this on all my properties-even small ones. 

This is not tax or legal advice, just what I personally do, consult your professionals! 

I have a hard time beating the Kansas City MSA in terms of price to rent ratios, cash flow and appreciation, and being landlord friendly. Started investing here from CA and never looked back. 

@Kia Zeinali

Yes, you can get this data from the sources already mentioned, but not for free. 

@Frank Occhiogrosso

https://www.biggerpockets.com/...

When you say developing do you mean in terms of renter demand or in terms of new construction? New construction is mostly going to be in A areas. Renter demand outside of new construction is going to be in good school districts for larger units (attract families) and walkable areas with a lot going on (attract young people). Then there are folks simply seeking safe affordable areas. Checkout the link above for my thoughts on areas of KC. 

@Steve Meyers

I don't BRRRR anymore, I do value add MF. Same result, less risk. BRRR just takes very distressed properties that need a lot of work. I go into more detail on this in my BP podcast 373. So the last BRRR I did was purchased in 2018, put debt on it in 2019 after getting all my except around 5% out of it and then sold earlier this year.

Quote from @Prashant Bagri:

ok thanks - Has anyone used diycostseg.com ??

 Yes, I use it for all of my properties, big or small. I have a friends and family discount code, feel free to DM me for it! 

I would say the largest factor in neighborhood class is median household income but all the DISCERN factors play into it. I get all of these, including crime, from vestmap.com. It’s paid but well worth it.

@Dustin Awtrey

Very cool, will follow on instagram. I'd like to do this in Kansas City. I have done a lot of infill in LA and love the build to rent model on 2-4 unit buildings. Excited to watch your progress!