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All Forum Posts by: Ernie V.

Ernie V. has started 10 posts and replied 63 times.

Post: Tenant gets away with not paying rent for 14 years! $34k+ debt!

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

its probably something similar to section 8 here, landlord gets paid by government directly without tenant even knowing. i lived in Italy and there is plenty of those programs there

Post: Tenant Lying About CHICKENS on the Property - Evict or Not?

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

In some counties there is ordinances about chickens and how many you can keep, and what you have to have to do that, here is example from Madison Wi.

Obtaining a City of Madison Chicken License

How to Obtain a City of Madison Chicken License

  1. Notify others as required that you will be keeping chickens on the property.
  • If the property is an owner occupied single family home, no notification is required.
  • If the property is a single family home that is not owner occupied, notify the property owner and all residents of your dwelling unit.
  • If the property is a two, three, or four family home, notify the property owner and all residents of the property in all dwelling units.
  • If the property is a museum, school or day care center, the applicant for the license must notify the owner or operator of the property if the applicant is not the owner or operator.
  1. Register with the Wisconsin Department of Agriculture, Trade and Consumer Protection. This registration is free. Fill out the "Livestock Premises Registration Application." Either complete the form online, or print it and fill it out. Once registered, you will be given a registration number.

Check with your county if she needs to register them, that maybe that will help to get rid of them.

Hope that helps

Post: I collected every penny of an almost $4700 judgement

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

How much did that cost? Small claims court wage garnishment, etc.

Post: The Intention Journal is Back... Get it while you can!

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

@Mindy Jensen My girlfriend purchased me Journal, using her email, how can i join Mastermind if it was purchased from different email? thank you

Post: Wauwatosa Real Estate Investor Meetup

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

There is Cheesy Investors meetup in Waukesha, first Monday of every month in Thunderbay Grille.

Post: Have submitted 6 offers so far....

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16
Originally posted by @Vivian O.:

So, let me just say, this market is nuts! My boyfriend and I have been actively searching for properties and submitting offers and we don't get picked. Our realtor who also invests in real estate has helped us submit strong offers. A couple weeks ago we submitted and offer on a home with 30 offers! We were too two but still didn't get picked. It has been discouraging. I dont want us to stop looking, hoping the market will change. Cause I dont want us to miss out on potential properties. I'm curious, are any of you buying or bought in this current market? Are you going through the same things? Is there anything different you guys did? 

I also want to add, that we run the numbers and we go based off what makes sense and would give cash flow. 

What I do with every offer is also add a letter about who we are. Here is an example:

Hello seller

Me and my girlfriend are writing to you in regards to your property at "insert address here" . We are a young couple that lives in Milwaukee and just starting out. This would be our first home that we would buy it together and begin our life. We do love the property that you are selling and we would love to own it. We realize it is a hot market and you receive a lot of offers, however we hope this letter will help you to make a decision.

Insert a picture with both of you here

Hope that helps

Post: Its beginning to feel a lot like 2005 everywhere I look

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16
Originally posted by @Account Closed:
Originally posted by @Alpesh Parmar:

@Account Closed Of course, COCR would be way higher than CAP but again it depends on % down payment and interest rate etc.

Good for you, if you are able to do that in Bay Area. Keep doing it, if this is working for you.

Definitely. Yup, we are still buying. Just landed a duplex listed for $525K, got it under contract for $515K. Down payment+ rehab is about $165K but this should net $2,500/month in positive cash flow once rehabbed. 18% COC and I have to think there is room for it to grow in value still.

 Just curious what is rent on something like that?

Post: Do you lease or buy your vehicle ?

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

I been in auto industry for last 7-8 years, here is my 0.2 cents. Pay cash for 8-14k car. 

I personally don't like leasing, but there is two times when it makes sense.

1.If you have a tons of money and want a fancy import aka BMW or Audi, it makes more sense to lease them then buy.

2. If you buy that car after end of the lease, some times there is incentive. but not often.

Post: TENANTS FROM HELL #11 - CAR FIRE FROM HELL (Pics Included)

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16

That is a "hot" car.

Post: No Job with 90K? Office Then Helicopter or Straight to Helicopter

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16
Originally posted by @Skylar Vincent:

@Ernie V. You kick serious butt for spending time to reply to me. Thank you! There may be cheaper schools but this school has all four seasons and also mountain flying. That means I will be flying in all types of conditions which is good for getting hired:) Also I really like Idaho for the fact that they offer good fly fishing, white water rafting, and bird hunting. 

Which direction would you point me in to get a grant or scholarship?

Thanks Ernie!

 Check that with your school, they should have some offerings, call or email financial adviser over there.