All Forum Posts by: Lee Ripma

@Diogenes M. I started out of state. I think there are pros to learning about RE on a place you live in but you can learn about it without living in RE. Whatever it takes to get started! 

@Shrikar A. - I have startup around this. I’ll send you a PM. Demographic data matters! 

@Moaaz Malik @Joshua McMillion has some great advice for you, I learned several of the same lessons investing in Kansas City from CA. I’m a fan of going out of state, even to start. I talk about in on Bp 373 in depth. Think about if you want to find a way to buy a house in the Bay Area or if you want to be a real estate investor. If you want to be an investor then pick a market and get going buying properties. 

Awesome! Great point about getting in the ballpark of the returns but not worrying about $20 a month. 

Some great stuff on here. I like to try them on a small job first, see how it goes, then give them progressively larger jobs. Their skill and approach is generally very clear on the small job. 

No, I’ve looked into it to try but it’s always been really expensive to RE-sheet rocks. I think your best bet is always carpet above. It’s weird, it’s like it’s the vibrations that travel through. Let me know if you try the quiet rock! 

Sounds like your approach to vetting similar locations and similar airbnbs is solid. I personally vet locations using the DISCERN method, I would suggest this, and you can DM me for detail. Briefly I look at demographic group, income, schools, crime, population growth, expansion of the population, and neighborhood indicator stores. 

I would suggest you go to the markets before making this purchase, no one looks after your money like you do! 

BRRR will take more capital than that. You can use hard money or private money to get the capital you need. This is the dirty secret of BRRR, takes a lot of cash. What about a 200k value add duplex in a midwest market?

@Joe S. I talk about it on my podcast, I use local partners on my projects. Then find a few good ones and a good local PM. There is always some trial and error. 

As others have said carpet is certainly your best bet, if with the under lament and quiet rock on the ceiling about the sound will travel.