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All Forum Posts by: Ernie V.

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

Post: Newbie needs help in Milwaukee Wi

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

@Ernie V. let's find out what you are doing wrong. I can already tell you a few things just from your post, but I suspect there is more to the story. We typically fill vacancies in 1-2 weeks and it sounds like you are in a good neighborhood, so let's find out what the issue is. Give me a call, phone number is on my profile.

 Thank you for taking time of your busy day today and talk to me on the phone, I appreciate it.

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.

If it doesn't cut into your profits why not move out and let a property manager run the duplex for you?

You may be doing nothing wrong. Please don't take offense but maybe its you and you need to get out of the way. 

This is the reason why I won't run my own- I feel like I will just be in the way. I'll let the professionals handle the management of the property.

All the best,

Jorge

 I thought about it, but it is just 1 door, and since I'm going to live next that I want to learn managing. When I get more doors, I might consider property management.

Post: Newbie needs help in Milwaukee Wi

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

Hello BP nation,

I have a situation and looking for some guidance and help.

I've purchased my first duplex last April/May, with intentions to house hack.  Property needed some work, mainly bathrooms. So far I made every mistake in a book. It took me some time to find contractor, it cost me more then I anticipated, it took twice as longer, we found things that inspection didn't find, and had to fix that too. So far so good. We were supposed to rent the property in August/November of 2017, we fixed everything just before December. Since then I moved to one of the units and I have tough time to rent the other one. I understand it is winter time however, I tried to advertise on Zillow, Craigslist, Facebook, yard sign, and I do get a lot of interest but I can't find the one. Lots of prospects will call, ask about property, I pre-screen over the phone, and they either hang up on me or not show up for showing, or if they show up and after I give them application and they never come back with it.... 

I'm lost with what to do, rent is comparable with other duplexes in an area, and it is B-/B+ area.

I would love to see what am I doing wrong here, please advice.

Ps. If there is landlord willing to meet with me for coffee or lunch I would appreciate that.

Thank you so much,

Ernie

Post: Kops Park Neighborhood, Milwaukee

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

It is a decent neighborhood. I was looking at some properties there as well.

Post: convincing the old school to invest out of state

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

@Anita Ahuja - You need to show him.  Take a trip, see some properties, run the numbers, and present it.

If he still isn't convinced then that is his choice.  But you can show him the information and let him make his decision.

I like to explain it like a car dealership, I am a Nissan dealership.  If you are interested in a Nissan, I can tell you all about it.  But that doesn't mean a Nissan is the best fit for you.  I can provide you with the info and answer your questions, but ultimately you need to decide what is right for you.

Investing is that same

 As a dealership employee, I love it! 

@Mindy Jensen if I have one unit to rent. Is it better AIRBNB or Rent tax wise? Good income from W2.

Post: Need help narrowing down markets for my first house hack

Ernie V.Posted
  • Rental Property Investor
  • Milwaukee, WI
  • Posts 63
  • Votes 16
Originally posted by @Haley B.:
@Ernie V. more like we just want to live there haha

 Have you been there before? If not I would recommend to check it out before you move there.  

Post: Need help narrowing down markets for my first house hack

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

Hey Haley,

Just wondering why those states? Is it because family, jobs in your field  or more like, "I just want to live there"??

Post: Mortgage Loan officer Milwaukee

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

Hello Everyone, 

I'm looking for some help. I have day job as a finance manager at the dealership, and been trying to get in to the mortgage business, but unsuccessfully. I know there is a lot MLO's here at BP and I'm looking for advise what to do. I would love to meet for coffee or lunch and pick your brain. 

Thank you so much

Post: Vending machine business

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

Hello everyone!

I was looking for a side gig next to the real estate investing and been looking in to the vending machine business. Does anyone here is doing something like that or know someone who is in that gig. Any cons and pros? It seems that new trend is with all this healthy food vending machines. Would be interesting to see costs and ROI on this kind of business. Please share your experiences.