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All Forum Posts by: Andrew Wera

Andrew Wera has started 2 posts and replied 7 times.

Post: Should I buy this 4-unit?

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2
Quote from @Kalen Kosik:
Quote from @Andrew Wera:

Hey BP community! I have an opportunity to buy a 4-unit that is owned by a fellow firefighter's father. He is a veteran REI and has owned this building for 20 years and wants to cash out to buy more real estate out of state.
How should I go about this to figure out if this is going to be a good deal? 
There are some long term tenants but the property could use some updates to commandeer higher rent. I have still yet to go look at the property and I’m going to have lunch with the owner to talk and find out more about the property.

I’m good friends and a coworker with the owner’s son and have a good relationship with the owner as an acquaintance. 
Any insight on how to navigate this is greatly appreciated!

Thanks, everyone!


 It sounds like you got the inside scoop on a potential good deal! I just did something similar and my biggest piece of advice is maintain full and upfront honesty. Make sure he knows what your expectations are on price, your opinion on repairs, etc, and he has to know that you'll only purchase if it makes good financial sense. Don't ever feel obligated to buy from him because you know him, and don't waver on your fundamentals. Because it's way easier to recover from problems associated with a good purchase than make a terrible purchase right at the start. So just be honest, get all the info, do some research, and make the deal. Being trustworthy and efficient can also lead to other deals from this guy in the future! Every conversation and transaction matter.


 Thanks for the solid advice, Kalen!

Post: Should I buy this 4-unit?

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2
Quote from @Alecia Loveless:

@Andrew Wera I’d recommend having a good conversation with him about it and see what he tells you. Then you will need the numbers, not just the price, but a good list of the expenses too so you can truly evaluate it because you will need to know if it makes financial sense with a loan at todays interest rates.

Thank you for the insight, Alecia!

Post: Should I buy this 4-unit?

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2

Hey BP community! I have an opportunity to buy a 4-unit that is owned by a fellow firefighter's father. He is a veteran REI and has owned this building for 20 years and wants to cash out to buy more real estate out of state.
How should I go about this to figure out if this is going to be a good deal? 
There are some long term tenants but the property could use some updates to commandeer higher rent. I have still yet to go look at the property and I’m going to have lunch with the owner to talk and find out more about the property.

I’m good friends and a coworker with the owner’s son and have a good relationship with the owner as an acquaintance. 
Any insight on how to navigate this is greatly appreciated!

Thanks, everyone!

Post: Looking to make first investment, help wanted!

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2
Quote from @Robin Batty:

Within a 15 mile radius of Crystal Lake, IL preferably.

Post: Looking to make first investment, help wanted!

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2
Quote from @Taz Zettergren:

@Andrew Wera welcome to the forums and congrats on the first post! You've already solved one of the toughest problems, having a contractor to rely on! In the southern/middle part of the country there are several turnkey providers that can help you invest passively. I'm not sure how your price points are where you live but if they're reasonable I'd advise doing fix and flips or BRRR's locally.

Best of luck investing! Let us know how it goes 


The more I look into BRRR and flips the more appealing it is, Taz! Thank you

Post: Looking to make first investment, help wanted!

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2
Quote from @Jack Matthias:

Greetings Andy!

I think your making a great first step. The sweat equity will definitely pay off for you guys. My dad was a firefighter as well and wish he dabbled with investment properties. When you start seeing properties your interested in, let me know as I'd be happy to run numbers for you to see if your comfortable and if it makes sense.


Thank you, Jack! I’ll definitely reach out!

Post: Looking to make first investment, help wanted!

Andrew WeraPosted
  • New to Real Estate
  • Chicago suburbs
  • Posts 7
  • Votes 2

Hey everyone! 
I’m completely new to this and I’m trying to soak in as much advice and knowledge as possible. I’m a firefighter by trade and I’ve got a decent amount of experience doing house renovations on my own homes but never had any investment properties. 

I renovated our last home and it brought us a great return when we sold it. We bought a new build and have a some good equity in the home already. We have some cash leftover and I usually would take extra money to buy and flip cars but we are looking to gain real assets and not just quick flips.

My wife and I are looking to buy our first investment property as soon as we possibly can. We have two small children and want to build a great future for our family. 

I don’t want to take away too much time from my family but I don’t mind putting in some sweat equity as we first start out. 

I just want to dive in feet first as well as go about our first investment with the best chance of successs, too. 

I’d love to hear how you would invest if you were just starting out like my wife and I! Thank you all and we look forward to interacting with the Biggerpockets community!

-Andy