BiggerPockets

Hi Chris, there is no reason to look at the age of a property to deem it beyond repair or functionable. Age can be an asset, look to historic preservationists, they pay a premium for older homes. Anything can be fixed, repaired or modified, the question is can it be done economically. If you stay with your thinking here, you'll miss the boat. My grandmother had a home that was originally built in the 1870s. It was added on to and improved over the years and today it is still a very functional and very attractive bungalow home. When I looked at the abstract, I think it originally sold for just over two hundred dollars, now it's out of the family and MV is a little over a hundred grand now. Doubt you want to hold any property that long for that return!

thanks financexaminer and rich23s. i agree with you both. old homes should just do fine for flipping and rentals. I was worried if there is any market for old homes. i'm learning a lot from this forum. thank to you guys.

Old homes can be a gold mine and a nightmare. I've found them to be significantly under priced at times relative to other homes in the neighborhood. You just need to have them checked out better at inspection. Make sure the foundation and framing members are in good shape. Look for things like roof sag to see if the framing is undersized. Check to see if the electrical has been updated. Same goes with plumbing. You just don't want surprises, like any other house you plan to flip.

Some towns have historical districts that went from good to bad and are going back to good again. These are usually yuppie enclaves when they turn around again and you can make a fortune selling to that type of buyer.

Rehabbing old homes is all I do.

I think it depends on what area of the counrty you are in. I am in New England so we have a very old housing stock. I consider a house built in the 1940's and 1950's to not be that old. An old house to me is built in the 1800's. A house built in the 70's is like brand new!!! :D