old multi-family building or new?

[Edita D.]

We bought a 4-plex built in 1950, and there are SO MANY things we have to fix. It was a good price but we are new to this and it's really time consuming (electrical upgrade, new water-heaters, etc). According to Bryan Chavez (he wrote Buy it, rent it, profit! book), it's recommended to buy homes no older than 15 years old. Which advise do you guys go by?
thanks!!!

[Jon Holdman]

As long as you buy at a good price, including any rehab needed to get it in good shape, it doesn't really matter. No matter the age, if you're in this for the long haul, you'll have to buy all those expensive items.

All too often people who sell books, course, boot camps and mentorships grossly underestimate the true expenses of rental properties. Buying a newer property gives you a bit of runway before you start hitting these big expenses.