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Updated almost 6 years ago on . Most recent reply
super old homes for BRRRR
I'm considering buying some 100-year-old SFRs in the Kansas City area for potential BRRRR. I already own two properties in the KC area, but none as old as this. My question is whether I'm going to be inundated with maintenance issues on these properties, even if I do a full rehab in the beginning. While I intend to own them long term (approx. 10 years), will they have any resale value at that point or will they essentially be tear-downs? They are wood frame construction. Thanks in advance -
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This is a really hard question to answer, it depends on the area and the condition of the home, plus the rehab you do. I just renovated a building from 1905 and I fully expect it to last me a very long time. I'll get cash flow now and be able to sell at a gain when I'm ready. You just need to check the condition of the structure and the condition of the major systems. A lot might need to be replaced. Anything can be fixed, it's just a question as to if it's economically viable to do so. So I would suggest figuring out the conditon of a specific property, the rehab for that property, and the ARV of that property. I don't think there is a hard and fast rule on this. Wood frames home can last a long time if they are kept up and the wood frame is not eaten by termites.