BiggerPockets Podcast 187: Building Wealth Through Older Small Multifamily Properties with Dana Bull
In this episode of the BiggerPockets Podcast, we talk about a subject many investors debate about: investing in OLD properties. Today’s guest, Dana Bull, has filled her portfolio with properties over 100 years — and she dishes out the good, the bad, and the ugly details. You’ll also learn why Dana focuses on small multifamily properties and she offers some incredible insight into being an effective landlord — no matter your age or experience level.
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In This Episode We Cover:
- Why Dana and her boyfriend rented in Salem, the infamous place of witch trials
- How she bought a house from 1784
- Things to note about buying old houses
- The numbers on their second property
- Why she wants to avoid inheriting tenants
- Why Dana seeks one bedrooms with smaller footprints
- The “stepping stone” property for young professionals
- Why lead-based paint is an issue
- Things she’s learned from being a landlord in her mid-twenties
- A discussion on open houses vs. individual showings
- How to deal with tenant issues
- How to know when it’s time to sell
- The importance of knowing the end goal and taking steps to get there
- How she managed to juggle full-time jobs and investing
- How many properties she has now and why she’s just hitting a “target”
- What she means by the “building years”
- How she manages her properties
- What it’s like being a woman investor
- And SO much more!
Links from the Show
- Josh’s Twitter Account
- BP Podcast 099: 3 Personal Finance Bloggers & Their First Real Estate Investment with Scott, Lauren, and Philip
- BiggerPockets Webinar
- BiggerPockets Forums
Books Mentioned in this Show
- Property Management Kit For Dummies by Robert S. Griswold
- The Book on Managing Rental Properties by Brandon and Heather Turner
- The EveryGirl’s Guide to Life by Maria Menounos
- “All of our properties have some sort of story in them.” (Tweet This!)
- “If people want your time or if people want to live in your space, they need to respect you and your time.” (Tweet This!)
- “There are so many approaches you can take, and I think the key is to just start.” (Tweet This!)
Connect with Dana