All Forum Posts by: Lee Ripma

@Brian G. I don't confuse real estate investing with living in real estate. So I don't house hack. I do invest in rentals out of state. In SoCal I develop and do some novel types of flipping. 

@Tre Irvin

To me it’s all about the location! I look at markets I will invest in and then look at exact locations of real deals. If I will invest in a location, then I’ll do due diligence on the property. I see a lot of people doing this backwards. You can’t change the location. You can change the property dramatically in a short amount of time. Location first, property second! 

@Ryan Harvel Clearly not a single person buying in CA. It’s certainly not the populous state with a massive economy. Zero demand. 
I’m being facetious to get you to see that of course people are investing in CA. Perfectly fine to also invest out of state, I do. I don’t love the wholesaling route to get started. I’m an investor and I’ve tried to wholesale several deals. I’ve literally failed at doing it so I don’t anymore. Good thing I’m a successful investor and a failed wholesaler instead of just being a failed wholesaler! 

@Charles Hefele once you find investments to look at make sure you vet first the location and then the property. I created a tool to quickly vet locations, if the location meets my criteria then I drill down on the property itself. 

@Paul Falbo - you might be overthinking it. Find a growing affordable market with MF stock. I personally really like Kansas City, San Antonio, and Lincoln, Nebraska. What are the criteria you are truly looking for? If you have too many you might be spinning you wheels researching instead of picking one, finding a few great submarkets, and getting going. 

@Ciji Masser I got started in my 30s, plenty of folks get started far later. I developed a prop tech tool that I wish I would had when I started. You can invest outside of areas where you live if you understand the locations you’re investing in. 
At first I scrimped and saved to get the cash to invest at first but now I’m able to just focus on increasing my income. 
It’s hard at first, but if you can get over that investing in RE is life-changing. I am so happy I went through the initial pain! 

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@Yoselin Pearce

Be careful who you listen to. I have a rule, if I don’t want your life, I don’t take your advice. So this question should probably only be addressed to those who currently have what you seek. I personally don’t think living in real estate and investing in real estate have much to do with one another. Where I live is a terrible investment. I’m a real estate investor, so I don’t care that my primary isn’t a good investment. I own a portfolio out of state. 

I will second that. Working with an agent who does not invest when you don’t invest is blind leading the blind. 

@Vlad B.- if you don’t have people who can fix the issues you are describing then I don’t think you’ll have much success in state or out of state. If these properties were next door to you would you your own gutter repairs? Your own mold remediation? I invest out of state and in my home market with success. I don’t do any work myself, regardless of where the property is located. I have better things to do with my time then fix properties, that is what my team is for.