Douglas, WY · Member since 2018 · 28 posts · 14 votes
Hello All,
I am looking at some properties tomorrow that I hope will be a good investment. There are 2 duplexes and a triplex. They all seem to be in decent repair (and i would obviously get inspections) but what is initially giving me pause is that they are all 80 to 100 years old. 100 year old houses are common in my area, but it begs the question, how old is to old?
I am looking at some properties tomorrow that I hope will be a good investment. There are 2 duplexes and a triplex. They all seem to be in decent repair (and i would obviously get inspections) but what is initially giving me pause is that they are all 80 to 100 years old. 100 year old houses are common in my area, but it begs the question, how old is to old?
I have done several houses that are 100 years old or more. Most were last updated in the 80's so I bring them into the current year. They tend to sell well. (They also tend to be better built.) It's like anything, you have to know what you are buying and know your exit strategy before you buy it.
Douglas, WY · Member since 2018 · 28 posts · 14 votes
7y
great! Thanks Mike. I am glad to know that they are still worth looking at. I will still so my de diligence, but I was curious what the life expectancy of a house was.
Real Estate Broker · Minneapolis, MN · Member since 2016 · 530 posts · 398 votes
7y
Not uncommon to see homes in my market with a built date starting from 1880's. Just require more analysis of the skeleton of the property and an in-depth inspection. These can pose to potentially have of problems but a lot of investors in my area are still purchasing such properties, probably by expertise in knowing what to expect in older homes.
Either way, i would pay attention more attention to products built in the 1920's than those built in the 1990's etc. I personally don't have a specific time frame but i'm excited to see other replies.
Douglas, WY · Member since 2018 · 28 posts · 14 votes
7y
Thank you Bjorik. The oldest house I am looking at was built in 1918. But do you think that as long as the inspection shows no issues it is still worth pursuing?