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All Forum Posts by: Lee Ripma

Lee Ripma has started 13 posts and replied 2032 times.

Post: Cost Segregation study options

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

https://www.vestmap.com/the-hu...
try DIY, link to article above with a discount code. 

Post: Best insurance brokers kansas city

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Alex Shaughnessy - DM me for my KC guy, he’s great. 

Post: Where is good crime data for neighborhoods?

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Bronson Simmons

I pull my crime data as part of a DISCERN report on vestmap.com. 

Post: Real Estate Investing Software: A Directory

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

I would add Vestmap.com to the market research and analytics. Know your location before you calculate your cash flow! 

Post: Out-of-State BRRR method to start?

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Danica Moeller

I was in the exact same boat as your starting out in 2017. I recommend doing value add without massive rehab. Checkout my podcast 373 on BP where I talk about it! 

Post: Average Cost Segregation Percentage Depreciation?

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Michael P.

It depends on how high your land value is. In CA vs Kansas City (MO/KS) I will get similar results after land value is taken out. With CA properties 40-50% of the value is land where in KC it is only about 5-10%. On a real 4plex in KC I got 32% bonus deprecation using DIY cost seg. My rule of thumb in low land value areas is 25% of the purchase price but it’s usually closer to 30%. Land value and finishes make a big difference so you really need to know those for your specific property. I do cost segs on all my rental props in year 1 using DIY. 

This is not tax or legal advice, it is just my personal experience. 

Post: Out of State Investing

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

Checkout the resources at vestmap.com. Exactly what you need to pick a market and vet locations quickly. 

Post: Neighborhood Analysis Tools Needed

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Daniel Imahiyerobo

This is exactly what vestmap.com does! Checkout zipfinder (paid) where you can filter by what you’re talking about! 

Post: Determining neighborhood class (A, B, C, D or F)

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

Checkout the median household income by block group on vestmap.com. It’ll give you the data you need in 30 seconds. 

Post: Researching New Markets

Lee Ripma
Posted
  • Rental Property Investor
  • Prairie Village, KS
  • Posts 2,098
  • Votes 2,365

@Charles Carillo

I use vestmap.com as my first pass on any property location.