Lee Ripma – How To Find The Best Submarkets, Mitigate Risk, and Add Value
Lee Ripma is a Los Angeles-based scientist-turned-real estate investor and entrepreneur. She invests in out-of-state multifamily, manages ground-up construction in LA, and is launching a prop-tech tool called Vest Map.
Mark and Lee sit down to discuss the oldest rule in real estate, how to find the best submarkets, and mitigating your risks in new construction.
What You’ll Learn In Today’s Episode:
Know your submarkets! Once you identify the market you want to live in, you’ll need to find the best submarkets to invest in, that’s where prop-tech tools like Vestmap add massive value.
It’s location, location, location, not cash flow, cash flow, cashflow. Don’t chase cash flow into risky markets. The key is to find great locations, with population, income, and job growth.
Mitigate your risk in development by finding an entitled property and using pre-fab construction to cut the time, and risk, down considerably.
Key Phrase:
“It’s like Legos. You design your project, and all the pieces are being built in a factory while you’re doing your site prep and pouring your foundations.” – Lee Ripma
