What’s the oldest Distressed Home that you have/would purchase ?

[Robert Collins]

So when I’m listening to the bp podcast I hear a lot of investors when speaking about their criteria, will have a certain start year of home that they will only invest in like i May here this person only buy homes 20 years or newer or this person only buys 1980s and up for various strategic reasons.... so for discussion, what’s yours ?

[Tom Shallcross]

That's probably a smart move as you can have a much more controlled renovation.

We invest in an area of Chicago of brick rowhomes were all built in 1880-1890 range.  Really cool homes but require extensive rehab as we look to buy from owners who gave up on the upkeep and let the property go.  We feel confident in our rehab numbers as we have a few under our belt, but yes it's a lot of work/risk.  However, that's what creates the bigger upside.   

I've attached a before/after pic of a recent one to give you an idea (the before is of a new purchase down the block we are currently doing so it's not an exact 1-to-1, but very similar layout as to the finished one we did earlier this year.  I couldn't find the actual before, but they're pretty much the same layout and same condition) .