OfflineI have a house I want to flip and even though it's all brick, looks great and in excellent condition structurally speaking, it's very large with a large lot and finished attic; it only needs updating.
It's from the late 1800's and the only thing that concerns me is the age. Would I be able to find buyers for such a house? I heard that there are regulations when it comes to fixing old homes.
Can anyone give me more information on that?
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If the structure and foundation are in good condition, there's no reason not to buy old houses if you find a good deal. There are entire neighborhoods in the city I live in that are made up almost entirely of historic houses (late 1800s to early 1900s.) Just be sure to have it inspected by a professional, and don't forget the termite inspection.
REALTOR
Real Estate One
Grand Rapids, MI
No problems with older home, as long as it's inspected and structurally sound as stated above. In fact, I generally prefer homes from the late 1800's to early 1900's over a 1950's home, as they were generally built better.
It also depends on what part of the country you're in. I'm based in the New England area so homes 100+ years old are more the norm. My brother owns a home built in 1804 and I own one from 1853!
- Tom
We love them. Don't forget to check wiring, plumbing and heating systems.
Michael Mangham
Mentoring/Team Building Nationwide
MD Home Acquisitions LLC
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http://www.mdhomeacquisitions.com Seller site
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Thank you M5Mason,Tom and Michael for your comments, I feel so much better now, even though from the first time I saw it I wished I could keep it for myself.
Thank you M5Mason,Tom and Michael for your comments, I feel so much better now, I was afraid I had made a mistake.
Julie
Hi there!
As others state, as long as you do your due diligence to gather needed information to make a decision, you should be fine.
Old or new, good deals are always good!
Matt Inomata
Seattle Moo
Go for it, much success, Jim
jbischoff
Have all the inspections done. Wish you good luck nothing wrong with buying the older ones some a good deals
older homes are great! and very desirable if they are updated!
I would get a couple of good contractors who have worked on older homes to give you estimates on the rehab, and as Michael says, make sure the electrical and plumbing are included in the estimates.
On a side note, it's easier if you already know what your buyers are looking for so that you can find deals that you know you can flip immediately and not have to worry about whether you will find buyers or not...
Wishing you success,
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
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its in a historical zoned area, you'll HAVE to check into what the city/county requirements are:
some restrict what colors of paint, repairs, shrubs and trees are permited.
Mike
see links below
Mike
https://tvallc.isrefer.com/go/RehabLite/renvestr/ Free tools