Thoughts on 100 year old properties

[Vincent DeLucia]

Hi BP family,

Wondering what some your thoughts are on properties older than 100 years? I am looking at a few opportunities in the Midwest and the numbers seems to work, my biggest concern is some of them were built in the early 1900s. I have done most of my investing down in south FL, so I am used to looking at properties closer to 50-60 years or younger. 

Any feedback, advice, or thoughts would be appreciated. 

[Caleb Brown]

Older properties can be OK but your maintenance, repairs will be higher if you are comparing them to 50/60s or newer builds. You want to make sure you do inspections and check the sewer line. See if there is still plaster, old wiring(knob & tube or aluminum), old galvanized pipes, termites, etc. I will say structurally they are solid. You do want to tuckpoint and keep the foundation sealed. Don't ever finish the basement if it is stone/rock foundation.