All Forum Posts by: John Wicker

Anyone else have some input? 

Thank you!

I have been looking to get started in my real estate investing journey. Recently ran into a long time friend.  He proceeded to  tell me he was just considering a potential deal on a private commercial sale and asked if I wanted to go in with him.  The deal looks pretty good to me, but was hoping for some input from the community.  These numbers came directly from the seller as he personally knows my friend. 

Selling price $350K (we are hoping to get him down to at least  325K)

Down payment 20-25%

total rent (3 units) $4,500

Taxes ~$1,000/month

Insurance $200/month

CAM $500/month

Emergency fund $300/month

The building could use a good refresh from what I hear (going this week to look)

Seller has offered to have a new boiler installed 

New roof might be needed in 5-10 years. 

What do you guys think? I am excited to get started on this journey. 

Hello all,

I have been listening to BP podcasts and doing a lot of research over the last 12-months and figured it was time to join the forums and say hello!

I am hoping I can find resources in the area to help me get started. I reside in sycamore, Il and am hoping to get started within 30 miles or so of that area. I would like to get started in BRRR with multi-family/door establishments. I was lucky and sold my first home at the peak of the market and now want to put that capital to work. The end goal would be to eventually generate enough income off my real-estate to allow my wife to retire and then I would follow behind her 2-5 years later.

John Wicker