187: Building Wealth Through Older Small Multifamily Properties with Dana Bull | Bigger Pockets Podcast

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

Josh’s Twitter Account

BP Podcast 099: 3 Personal Finance Bloggers & Their First Real Estate Investment with Scott, Lauren, and Philip

BiggerPockets Webinar

BiggerPockets Forums

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

Dana’s BiggerPockets Profile

Dana’s Company Website

Dana’s LinkedIn Profile

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