REAL ESTATE INVESTING
My Crappy Investment Condo Doubled in Value in 8 Years and 2 Months
Location! Location! Location!
I bought a crappy condo
About eight years ago I bought a crappy little investment condo in a dog-eared community in central San Diego that screamed “The 70s called and it wants its stucco back!” The MLS (multiple listing service) photos were a hot mess: dirty carpets, laminate countertops, popcorn ceilings, fluorescent lighting, and a weird mural in every room. The bathrooms were carpeted — ick. The whole thing was years past its prime and somewhat weird.
FYI — I love hot-mess MLS photos. Most buyers want a turnkey purchase that they can immediately move into and can’t be bothered to pick up a paintbrush. A fresh coat of paint is by far the easiest and cheapest way to add appeal to a tired property. As a small investor looking for a deal, I look past the ugly MLS photos and paint some walls when an opportunity is in front of me.
Why I bought it
- The price was right: at $295,000 for a 2/2 condo in central San Diego, this was a…
