All Forum Posts by: Karen DiNapoli

@Account Closed Welcome to BP! I've been on this website for about 2 weeks and love it!! They offer free podcasts and webinars. I highly recommend starting there. Everyone here is so willing to share their knowledge, I wish I found this out years ago!! Especially when I wanted to invest about 6 years ago...but was too nervous and backed out! At that time I could have afforded a place in CA. But I missed that boat!! Now I totally regret it!

I also want to mention that I am willing to spend a little extra cash to do cosmetic work on a place to gain a bit of equity. I just don't want to buy a place that needs a complete gut job. :)

@Account Closed - You made a lot of assumptions, although probably well intentioned, but completely wrong. I already own a home (made a 30% down payment so no PMI). That 45k is extra savings that I have. I also have 3 retirement accounts, one is a roth IRA I've been saving since I was 24 years old (12 years ago). I also have a traditional IRA, 403b through work, and a stock account. Even my 8 year old daughter has a Roth IRA (she did a commercial when she was 18months old), a stock account AND a 529 account...all amounting to probably more than most young adults have in their savings account. None of this is family money (except my mother in law does help with my daughters 529 account)... but the rest is all that I have done through the years through hard work, saving, and investing smart. I think I know my priorities. Real estate investing is just a dream I've had since my young 20's. I've always been to afraid to jump into it. Especially when I was young and not making much. But I am now well established in my career, making well over 6 figures (only working 3 days a week). I'm here trying to learn how to invest in RE like everyone else. :)

@Julie L.- Yes I would love to hear your experience! Please post here or feel free to PM me! Thanks!

@Matt R. - AV and South LA are very rough areas! I do not want to invest in a buy and hold in an area where I would be chasing down rents. And when the market drops in LA, so will those areas. And those areas will drop further and recover slower. 

@Zach Quick- You are right about the benefits of staying local. But out of state investing I see the benefits of out of state investing vs than staying local here with minimal starting capital. 

@Jay Hinrichs - Where is PDX? And no, I didn't go to Cuertino High...DiNapoli is my married name! I grew up in the South Bay and went to Torrance High! :) 

Matt R. Where in LA county is there a property to invest in for only 45k? I recently sold my condo for $580,000! LA county prices are so inflated. I don't think it is even good timing to invest in this market. It's in its own little bubble.

Do you form an LLC where the property is located or where you live? I live in CA but looking to invest in WI.

Clint Farlinger any other advice you can provide being an out of state investor? Do you have any real estate agents or property managers you can recommend in Madison or Milwaukee area?

Thank you everyone for your response! This is such a great community! I am still open to any market. Milwaukee is particularly good for me because I have a relative there. But the high taxes puts me off! But I know it all comes down to numbers! To answer questions - Clint Farlinger I hear Madison is a great area. Is it easy to rent out that way. My impression is that it's a good family community with good schools. Benjamin Spandau - I'm still interested in the Indianapolis area. I'll PM you! Erick Jordan - Rockwall was my first location I was interested in but the high property tax in TX put me off as well. But my price range is 150k-200k. David Thompson - what is value add apartment syndication? Joshua Martin - I am looking for cash flow SFH or duplex. I would like 10% ROI. Definitely want to leverage. My price range is $150-$200 depending on the market. My risk tolerance is medium. I am willing to do cosmetic work but I don't want any major fixer upper since I am out of state. I'm looking forward to everyone's response. Thank you!!

I have a cousin that lives in Milwaukee and a friend that lives in Phoenix. Wisconsin has one of the highest property taxes in the US. I tried doing an analysis on a duplex there and the taxes killed my ROI. Phoenix seems to be already oversaturated. I don't know anyone else out of state. How do you know you can trust the people you meet on BP? I was approached by someone that says she can help me find a property. She said she has referenced but who knows who these "references" are! I'm just a very cautious person and I don't want to just hand over my money to anyone!

I live in Los Angeles and completely priced of this market. I'm having a hard time finding a good out of state location. So far I've considered Rockwall, TX; Indianapolis, IN; Grand Rapids, MI; Milwaukee, WI. My strategy is to buy and hold. Thoughts? Advice?