Tips for Purchasing an Old Property

[Joseph Gringeri]

Hi Everyone,

I'm looking to purchase my first investment property, which will be used as a long term SFR. My goal is to start with a solid foundation, and I would prefer to hold this property for the long term, making enhancements as needed.

This property is in an area with many homes built around 1900. This one in particular (a townhouse) was built a bit before - 1870. Cosmetic wise, the property looks good, and I’m prepared to make the needed repairs. We’re taking the stand cap ex items into account, including the main sewer line.

What are your thoughts on purchasing a property this old, and is there anything I should watch out for while I hold it?

Any thoughts you have would be greatly appreciated.