[MHT]

Having owned five old houses in a small town, I can assure you that the "price of admission" to the "Old House Club" is low, but the dirty secret is that it costs AT LEAST twice the purchase price to get to the point of pride that most homeowners like. And, most of the work that needs to be done doesn't even show! By the time you can decorate, it is usually piecemeal and settling for less than you would like.

The Millennials will be inheriting The Great Transfer of funds from their parents and grandparents and will be able then, probably in 10-15 years, to get the houses finished, or move on to something easier.

[cyclotic]

A buddy of mine is a remodeling contractor. He just bought the oldest house in the city as a flip or rent project house.

I looked at it before he bought and suggested he drop the offer by $20,000. That helped, he got it for $10000 less than he was planning to offer.

It needs a ton and a half of work. I haven’t been there since he started.

I was thinking of investing in the house with him but decided not to. It was at the point the market was way down and the upside of leaving the money in my funds outweighed the potential upside of the house flip. Plus I have no interest in being a landlord. Fix it sell it cash out (or cash into another one)