Triplex in Shebyville, IN

[Bibiana Kurta]

Is anyone familiar with Shelbyville? I am in San Diego and have a chance to purchase a triplex there (would be my first RE investment) right next to the town center. I would appreciate any feedback. On another note, the property was built in 1900 - any advice on what to watch out for in an older building? Thank you so much! 

[Ed Matson]

Hi @Bibiana Kurta - Don't know anything about Shelbyville IN, but I know I won't buy another 100 year old triplex. Despite having a newer roof, siding, windows, water heaters, and good heating systems, we were always fixing something. Time and expense  substantially higher than planned.Plumbing, electrical, bathroom floor replacement, safety code updates, repair/replace rotten wood, etc.  Seemed like we were doing something there nearly every month.  We sold the property and bought early 1980's vintage townhouses with the proceeds.  Much smoother sailing and better actual returns.