I recently acquired a property that is over 100 years old and was a former stately mansion turned into a triplex. My intention was to use this as one of my rental properties in my real estate investment portfolio. Like many houses of this age, it required a lot of repair although there were still signs of former elegance including original wooden floors, stained glass, bay windows and an Italian marble fireplace (that no longer works). In fact, the property was elegant enough for film producers to do a movie shoot inside one of the rooms where Christian Slater was the leading star.
One of the apartment units was already tenanted and two were vacant by the time I took ownership. Repair issues included many cracks in the walls and ceilings, plumbing that needed fixing, lighting fixtures that needed replacing, broken windows and screens as well as a full repainting of the walls. I personally don’t have the expertise to do most of these renovations so I hired contractors to do what I cannot do.
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