Do 100+ year-old properties scare you away?

[Joseph Parker]

Do single & multi-family homes built over 100 years ago scare any of you investors away?

In my area, there are many, many duplexes/triplexes built between 1900 & 1930. While a few are located in B areas and fairly well-maintained in our "historic" part of town, most are located in C-D areas.

When I run numbers on these properties and see that some look pretty good on paper (ran across one today that checks out well on paper), I can't help but to always think that with an older property, one age-related structural or foundation issue, one sewer/plumbing issue or electrical issue can quickly and easily wipe out more than a years worth of cash flow, and the building won't be getting any newer for as long as I own it. I understand these issues can occur in newer buildings but are much more likely in 100 year-old buildings, yet people still seem to buy them and hold.