All Forum Posts by: Lee Ripma

@Stephanie Ro I always use the DISCERN method to look at neighborhoods. Feel free to DM me for my process. 

@Jody Greenberg

This is not tax or legal advice, just what I have personally done. I have used KBKG and DIY. I only use DIY now. Why? Because if you make an error you can email the owner and he'll fix it for you. Feel free to DM me for a discount code with DIY. I am personally a huge fan of algorithm-based cost seg studies on props under 1M. 

@Nicholas Heinrich - I'll send you what I use, paid but inexpensive. 

@Gopichand N. - I’ll DM you my process for finding and then vetting locations, quickly! 

@Justin Badillo

I think most of us would do what we are doing, maybe just on a smaller scale to start out. So for me that’s value add MF for my rentals. I think that new investors think the market is too hot to invest in. However you can still find deals with upside. 

How about 2 with a modification - you can invest out of state without going the TK route. By and large you overpay for SFH in crappy areas going TK (although not always). I personally like value add MF out of state. Stabilized at purchase with upside from cosmetic renovations.

When I started I didn't understand construction ages and how that impacts rehab and functional spaces. I had no idea the differences in rehabbing a really old building (1900s) vs newish construction (1980s). I also didn't understand commercial lending worked. It is amazing to think back on my first project about 4 years ago and remember just how little I knew vs what I know today. 

Don't confuse living in RE with investing in RE. I don't think the MF house hacking thing in LA is not suitable for most aspiring investors due to rent control. You can do it with a SFH and rent out the rooms. Or you can just get going on building your rental portfolio out of state. That's what I did and many others living in high-priced markets have done.

I would go in this case. I have bought sight unseen but I would not do that on my second property. 

I find apartments come in on the low end of your range, 20% is my back of the envelope calculation.