How Old is Too Old for Out-of-Town Investors?

[Sunny S.]

Hi Everyone, We are out-of-town (based in NJ) investors considering properties in the Cleveland area. Question: We are looking to purchase a duplex or a quadplex in the metro area. We are ok with performing minor updates but want to avoid full-scale renovations. To that end, in your opinion, what is the age-range of the buildings we should be consider? Thanks!

[Andrew Rosenberg]

@Sunny S. It's a cop-out, but every market has their own unique characteristics. Your realtor and prospective property managers would be the most knowledgeable sources. Ideally an experienced (and generous) cleveland flipper/BRRRer will chime in... Personally, I'm not inclined to purchase older than thr 90s but tons of people successfully buy much older homes.