All Forum Posts by: Lee Ripma

@Darryl George

VestMap.com does exactly this. I would argue you don't need to see the metrics daily, seeing the current income, demographic group, crime is enough but you can also look at background rates of appreciation, which I love. 

DSCR non-QM residential loans are not the same as commercial loans. I suggest commercial loans with local banks. Link to article below that explains the FAQ I get on them. I'm a broker in KC and yes, you can get a commercial loan on a deal under 5 units!

https://www.vestmap.com/post/the-real-estate-investors-guide...

Take a look at that article and feel free to ask any follow up questions. We have a network on local commercial lenders who we use in the KC market. 95% of the deals we do close with a local commercial lender. 

@Sam Howell

You could do a RES or a commercial loan. Right now commercial loan rates are 7.25% with a 25 year amortization and 5 years fixed. RES rates are lower with a 30 year amort and you can buy down the rate but that is increased closing costs on top of already high closing costs. This is a good article to check out regarding the pros and cons of commercial loans! 

https://www.vestmap.com/post/the-real-estate-investors-guide..

@Aj York - cash flow is 100% possible in KC. In the last two years more of what was cash flow has gone to debt service but rates are starting to come down and it's more a balanced buyer's and seller's market. There is a lot of 2 and 4 unit inventory in KC and I think a fourplex is a fantastic first investment property! 

@Amby Bhagtani

I personally look for population growth in affordable markets where there is stock of multifamily properties I could potentially purchase. Checkout the ZipFinder feature in vestmap where you can choose your criteria - growth, income, median home price and use it to narrow down potential areas. One thing that is important to consider is what asset type you want and making sure it's in the market you are looking at. For example, Kansas City has a lot of small Mulitfamily while Indianapolis and Oklahoma City do not. 

@Pete Tarin

Checkout the data on vestmap.com, it allows you to search any location and get the DISCERN factors at a glance including income, crime, schools and neighborhood indicator stores. A, B, C, or D is often called subjective but it's a blend of real estate values, incomes, and deseriablility. It is fairly easy to develop a proxy for the class by looking at the DISCREN reports in VestMap. There is also a way to filter and find zip codes that might meet the class you are looking for. 

@Ali Burke

Accounting, such an incredible skill! KC is a great market for RE investing and there is a ton of growth between Lawrence and KC - the Tesla battery plant is a huge growth driver. Never did the SFH thing but love small multi!

@Jeff G.

If you only look at one meteric, look at Median household income. Checkout DISCERN reports on VestMap.com, this is exactly what you are looking for! 

@Jeannie G

UGH! All of the inventory I have seen that these TK companies have is in C- or worse areas! Vet the location first and the property second! 

@Andrea Lauritzen

I start off investing out of state in KC and I'm a huge fan. I talk about it on my podcast. I do think that the B or better zip codes area a great place to start. Feel free to checkout the listings and resources we have on our website.