Fear of older homes

[Marco Morkous]

I’m wanting to buy properties but have decided to go with 1960 or newer properties. I had a bad experience with my first property due to maintenance issues. The property was 1910 built. What is you guys take on buyer older investment rental properties? Will the maintenance associated eat up all the cash flow?

[Tom Fidrych]

More important than the age is the condition it's in. Some older properties have been extensively updated. Perhaps updated plumbing, foundation, roofing, insulation, electrical service panel, windows, etc. whereas you may find a 1960 or newer property that has single pane aluminum windows, overloaded electrical service panel, deteriorated roof, galvanized and corroded water lines, etc.