Maintenance is an issue on any age house, except a brand new one. Are the buildings sound? Are they of good construction? I have one building which is 120 years old, and its maintenance costs are’nt much different from my newer buildings…
Appliances are a major pain in the rear, but in the overall scheme of things, not a major expence. I’ve still never paid over $25 for a used stove. Just don’t ever try to fix a stove with an oven which doesn’t work. Major dollars.
What is the consensus on purchasing 4 plexes over 15 years old? Is there a way to mitigate the “challenges” that come with purchasing and managing older properties. I know maintenance would be an issue, also out dated appliances breaking would add to costs, etc.
If the older buildings passes the inspection, then you’re O.K. (if you trust the inspector?), the up side of purchasing the older building is that you can negociate a better deal and there is probably more equity…