Advice on first deal

3 Replies

I have an opportinity to purchase an all brick 4 bed room 3 bath 1300sq ft home in a decent neighborhood for rentals. It does need minor rehab (flooring/kitchen/bath). The concern with this property is it was built in 1956 and has heating but not an airconditioner. Would a lack of air condition be a deal breaker for you? If i can buy it cheap  enough would it make sense to tackle the project of adding an air conditioner to it? Anything else i should be considering with a property this old?

Hi Jef,

Funny enough I'm closing on a house next week in the same situation.  There is heat and all the rooms have floor vents.  I'm considering adding central air or a couple of the wall units depending on what the AC company tells me is possible.  Currently the house has 4 window units and I just don't want to deal with tenants using window units.  If you buy it at the right price and all your competition has central AC then you should invest in getting the AC.   Also 1956 is not that old.  As long as the roof/windows/mechanicals are in good condition, someone will want to live there. 

Thanks for the reponse.....

My property is a foreclosure and i feel i can get it for a really good price. I am seeing estimates of ~5k to add central air to the house. The roof is good and its an all brick house with minor issues inside so i feel like its a good deal. I feel like this would be a good opportunity but wanted to get some feedback...

add the A/c unit , this will save you in the long haul and it is for sure a selling point to tenants and later landlords. If someone is renting a 4 bedroom , its going to be a decent size family,  get rid of the window units  boost rent 20 bucks ... you'll be thanking yourself when its time to sell and everything is updated 

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