When he first started in investment real estate, Ritter roamed through Denver every weekend to familiarize himself with neighborhoods and the city’s apartment stock. He used what he learned to create what he believes to be the most in-depth database on the Denver apartment market—something that has given him credibility with investors. Last year his closed sales volume was $22 million from 25 transactions.
Keeping it simple: Marc Lippitt, the company’s founder, and a partner, Jeff Johnson, taught Ritter that no problem is unsolvable. In one deal, he says, the prospective buyer was deemed not creditworthy by the lender, so Ritter convinced the seller to guarantee a portion of the loan. The lender then approved the buyer for the rest of the note. “The seller thought it was a great idea and the buyer commended us on finding a solution to a possible deal killer,” says Ritter.
Why he loves real estate: Ritter is gratified that he’s helped clients retire early, send their kids to college, and create nest eggs through investment real estate. “I’d do this business for fun.”