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All Forum Posts by: Ernie V.

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

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

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

Is this only school that teaches to be helicopter pilot, or there is a cheaper version of that? Also can you get any scholarships or grants? I would check that as much. Know a lot of people who got tons scholarships and/or grants to help with schools.  

Post: May General REIA Meeting - Clever Investor Panel

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

It was an awesome meeting, really enjoyed the speakers. Good job

Post: How Real Estate investing changed my family's life in 1 Year.

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

Very inspiring story.

Post: Tax deduction question

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

Thank you so much for your answers.  

Post: Tax deduction question

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

I just talked to my accountant,  and she is filing my taxes for 2017. I did purchased a my first rental property  in 2017 and we did repairs in it. It is a house hack property where I live in one unit and rent the other one. My accountant just told me i cannot deduct any of my repairs for rental unit since it wasn't rented, well my rehab on that unit was done in late November and it wasn't rented last year. What should I do? Please help. It is in Wisconsin. Any advice.  

Post: Sold a house, but can't cash the check from title company

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

Not sure if this is possible, but he can open "Money market account" (works like savings account) on Vanguard or similar company, deposit check and then wire transfer or keep there until buys new property. I believe you can open them anywhere in a world. I would have him research that more in dept.

Post: Newbie needs help in Milwaukee Wi

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

@Ernie V. I am sorry to say but Milwaukee is a tough market. I am so relieved for selling both my turnkey properties there this month. My PM couldn't even put a tenant for 3 months (Aug, Sept, Oct) after getting it turned over. Finally, when we found a tenant; we had to reduce the rent.

I think you should use a listing service or PM company to get your property lease. You don't have to use them to manage your property but they will have a professional team which can market your property in lots of different website and through different means.

 How long have you been investing in Milwaukee market? What was the hardest part?

Post: Newbie needs help in Milwaukee Wi

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

I have a 8 unit there and a duplex in milwaukee.. MKE is tough you have to be in the right block to attract the tenants other wise you just have to settle and cross fingers.. Good luck 

 My duplex located in a great area. I purchased in this area because I knew I'm going to live here, so location was important for me.

Post: Newbie needs help in Milwaukee Wi

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

@Ernie V.

Do you plan on starting a property management business one day?

Jorge

 Most likely not.

Post: Leasing a new car (Conventional DTI Concerns)

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

If you marred, and your spouse not involved in real estate, she can lease car for you.