187: Building Wealth Through Older Small Multifamily Properties with Dana Bull

Aug 11, 2016

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In this episode of the BiggerPockets Podcast, we talk about a subject many investors debate about: investing in OLD properties. Today’s guest, Dana Bull, has filled her portfolio with properties over 100 years — and she dishes out the good, the bad, and the ugly details. You’ll also learn why Dana focuses on small multifamily properties and she offers some incredible insight into being an effective landlord — no matter your age or experience level.

In This Episode We Cover:

Why Dana and her boyfriend rented in Salem, the infamous place of witch trials
How she bought a house from 1784
Things to note about buying old houses
The numbers on their second property
Why she wants to avoid inheriting tenants
Why Dana seeks one bedrooms with smaller footprints
The “stepping stone” property for young professionals
Why lead-based paint is an issue
Things she’s learned from being a landlord in her mid-twenties
A discussion on open houses vs. individual showings
How to deal with tenant issues
How to know when it’s time to sell
The importance of knowing the end goal and taking steps to get there
How she managed to juggle full-time jobs and investing
How many properties she has now and why she’s just hitting a “target”
What she means by the “building years”
How she manages her properties
What it’s like being a woman investor
And SO much more!

Links from the Show

Books Mentioned in this Show

Property Management Kit For Dummies by Robert S. Griswold
The Book on Managing Rental Properties by Brandon and Heather Turner
The EveryGirl’s Guide to Life by Maria Menounos

Tweetable Topics:

“All of our properties have some sort of story in them.” (Tweet This!)
“If people want your time or if people want to live in your space, they need to respect you and your time.” (Tweet This!)
“There are so many approaches you can take, and I think the key is to just start.” (Tweet This!)

Connect with Dana

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