What are the main concerns when rehabbing 120 year old houses?

[Daniel Vernon]

Looking into a deal on a house built in 1899. 3 bed 1.5 bath for $155,000, tons of value add potential, and right in the middle of a rapidly growing western Colorado neighborhood.

Wondering if anyone has any insight on a deal like this?..

Thanks!

- Daniel

[Lynnette E.]

I invest in these old houses.  Look at the foundation and wood.  The old wood turns hard as iron---if it is not termite damaged, then it can turn to sawdust!  

Look at the foundation, flooring joists to see if they are ok or can be sistered if they are not.  Know that sometimes the roofs are not typical, 2 of mine did not have a plywood type of layer on the surface.  The roof was made up of 1 x 3's.  If multiple story, look at the walls and see if any fell.  It is not unusual for a wall to slip. They are hard to put back up on jacks.

Look at what the electrical system is made of, all of it.  Its not unusual for someone to update apart but leave a section of old aluminum wire, etc.  

Do not expect to be able to put HVAC duct work in the house if it has a series of add ons--the attics and crawl spaces will have areas that are blocked.

Asbestos and lead based paint will be throughout the house.  Be able to recognize what things have asbestos so you do not expose yourself to it or cause it to fray.