Thoughts on 100 year old properties
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.
Most Popular Reply
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.