All Forum Posts by: Lee Ripma

I do this using VestMap's ZipFinder feature. 

All real estate is local. However, it's important to be able to narrow down general areas where you would buy or not buy. I don't find neighborhood scout data to be very useful and instead I will use VestMap's zipfinder to narrow things now, but keep in mind you need vet EACH location you're buying in. To me crime is not that large of a factor in determining what is B class. The largest factor I look at is median household income followed by median home value. For Huntsville see VestMap's zip finder map below. You'll see on the side where the criteria are. I would guess these are B class zip codes based on income and home values. However, always vet each property location

. I do this using VestMap's DISCERN reports. 

@Derek Elliott

I was in your shoes 5 years ago, now I’ve got a nice portfolio and left the W2 behind. Take a listen to 373. On market selection I would argue that you don’t have that many to choose from if you want cash flow and population growth. I think the goal is really to find stable to growing affordable submarkets. I use VestMap.com’s zipfinder feature now that I know what I’m looking for. Before that I just googled and bought! (I talk about this in the episode). 

@George Red

Great idea! I was an out of state investor for years in KC from CA (San Diego and then LA). When the pandemic hit I couldn’t take CA anymore, so I moved to KC! If you do this via zoom would love to join. 

@DeAngelo Tatum - I personally do one on every property I buy, even if small! But as @Linda Weygant pointed out it is often a question for you personally. 

Quote from @Edwin De leon:

You as an investor ...What interview questions would u ask a real estate agent to determine if you want to work with them  and make part of your team, you want someone that will not be telling you here is nice countertop which is of no value  to u as investor ...... you only want to hear  things of value investors want to hear about on any rental property u are considering and not trivial things like here is a nice SEPEARATE door entry for your pet 😀 

How many rentals do you own? I give my clients first crack and the deals and sell at least a deal a week I would personally buy. So I don’t buy that a good agent is in competition with their clients. I don’t have the bandwidth/capital to purchase more than 2% of what I sell. If they own rentals, have done rehabs, and are well-networked they are likely to interview you and not the other way around! 

I love algorithm based cost seg studies. I have used KBKG in the past but I currently use DIY cost segs, https://diycostseg.com/who-we-...

I like them better than KBKG because if you make a mistake you can correct it. Feel free to reach out to me for a friends and family discount code. I do this on all my properties-even small ones. 

This is not tax or legal advice, just what I personally do, consult your professionals! 

I have a hard time beating the Kansas City MSA in terms of price to rent ratios, cash flow and appreciation, and being landlord friendly. Started investing here from CA and never looked back. 

@Kia Zeinali

Yes, you can get this data from the sources already mentioned, but not for free. 

@Frank Occhiogrosso

https://www.biggerpockets.com/...

When you say developing do you mean in terms of renter demand or in terms of new construction? New construction is mostly going to be in A areas. Renter demand outside of new construction is going to be in good school districts for larger units (attract families) and walkable areas with a lot going on (attract young people). Then there are folks simply seeking safe affordable areas. Checkout the link above for my thoughts on areas of KC.