Not really a new member but still a rookie having good luck with cheep old houses

[Richard J. Kalnitz]

My name is Rich. 

I am currently invested into real estate in the Dubuque IA area. Currently I and my business partner own 2 town houses, one is a 4 bed 2 bath. The other is a triplex, all units are 2 bed 1 bath. 

I was an electrician for over 20 years with my last electrical job being shop foreman for a custom electrical control panel shop and UL 508 specialist. I left that job to join Roche Tissue Diagnostics where I repair medical instrumentation across the Midwest. 

Now call me crazy, but currently I have been having a great time investing in most peoples nightmare, old, cheep, houses. The buildings we invested into so far have been built in the 1800's. They needed a lot of work and we have been able to get them at a price that allowed us to afford the repairs. Evan took an online class and learned how to replaster walls and yes I do mean old school plaster. Turned out not to be too hard, it is a lot of work but looks so good when done. 

Anyway thinking for a bit we will continue on this path and look for more old houses but, of course, the price has to be right vs the amount of work that has to be done. 

This has become challenging due to an increased interest in the historic district in Dubuque due to revitalization plans that include 18 million dollar investment into the historic downtown area.