All Forum Posts by: Lee Ripma

 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!

I have done a lot of deals with them in LA. Not sure what market you are in but I have found them to be solid. They certainly vet the deal and the buyer and you still need a 30 day close to get through their process. 

@Jeff G.

I started out BRRRing small MF remotely and then switched to stabilized value-add remotely. I talk about this on my podcast 373. Location matters and so does limiting your downside, hence my pivot away from BRRR and to stabilized value add. I vet locations first, then properties using VestMap.com. I look for stable or growing areas (not declining) that have incomes in the market consistent with C+ to B class areas. Schools matter depending on the unit size. VestMap.com pulls what I need to vet a location in 20 seconds. Then I dig in on the property.

I use DIY cost seg for all my cost seg studies, even the larger props. 1275 will get you a discount. Worth checking out of an engineered study. 

 @Nick Phillips

There are not a ton of MF in the northland (area you are talking about) just because it tends to be suburban and not the higher density you will find in the core of Kansas City MO. You will find duplexes and quad neighborhoods that are newer construction in the areas you are talking about. You will also find a few larger buildings, 6-10 units but they just are not that common. There are plenty of B and C areas in the KC metro outside of the northland. 

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

Feel free to reach out if you want a few ideas on deals that are available now that may fit your criteria. 

A pain point that might be related to your skill set is a rehab project manager. Even if you use a GC oversight is still needed. Someone who can order materials and find labor/subs to complete value add in a cost effective manner is always a need and saves money over using a GC. Just something to consider! 

VestMap.com gives you MSA level stats, specific location info down to the block and you can find submarkets nationwide with zipfinder (part of vestmap.com). Locations first! 

@Account Closed

Lots of folks do this and there are many ways to do it as well as many local regulations. There is company called HomeRoom that offers a turnkey product where you can buy homes where they do this. Of course it can done on your own as long term or short term rooms.