Buying older properties in good locations

[Amby Bhagtani]

A few of the properties I am looking at are 1940 or earlier built. They are 15 plus units, the location of these properties are in  good areas and that's whats drawing me to them, however I could use some advice on what kind of challenges people have encountered with older properties and how old is old? Appreciate any thoughts. Thank you ! 

[Nadeem Alamgir]

Hey Amby some common issues are outdated electrical (like knob and tube wiring), old plumbing, foundation settling, and inefficient windows or insulation. These things don’t have to be deal breakers, but they can add unexpected costs if you're not budgeting for them upfront.

How old is too old really depends on condition and how well the property has been maintained or updated over time. I've seen 100 year old buildings run better than 1990 builds just because they were cared for properly.