Property Age Guidance

2 Replies


Hi all,

I'm looking for some guidance in terms of properties to go after, or a "filter" per say on what the easier rehabs have in common. Are there any year ranges of properties that you would avoid for difficulty of updating and rehabbing, i.e. years where lead paint were issues, years where certain building materials where outlawed etc? Thanks. 

Ikenna

@Ikenna Okoye , I would look at what is common in your area.

In my area, old houses are common. A large portion of the housing stock is 75-125 years old. So, lead paint, outdated electrical, etc are all common. Because of that they are not burdensome to deal with locally. All of the houses I have bought are older. The average age of the homes I own is probably 90-100 years old and it hasn't been an issue at all.

However, from what I have read in other areas with newer housing, local codes make it more burdensome to deal with these issues on older houses. 

Also, keep in mind that "problems" can equal $$$. If you are willing to take on issues that deters others, you can get a better deal. Everyone wants the easy deal. So, much so that easy deals often don't make money money. 

@kevin 

@Kevin Sobilo Very true, it looks like ill have to do some property code research in my area. I have a general idea of average age, but I'll be sure to consider those opportunities in the future for sure. Thanks!

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