Are condos good investments?

Question: “What do you think of a condo as an investment?” Answer: Excellent question! I own several condos as investments and they’ve been great. Here are some situations where I recommend condos to my clients looking for investment property: You’re a beginning investor and want to start easy. You want to keep things simple so
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How do I buy a fixer-upper in San Diego?

Question: “We currently live with family, which isn’t great, but oh well. My wife and I are handy and while we’re living here, we’d like to buy a little fixer-upper to resell and make some money towards buying a bigger house down the line. Where do we start?” Answer: Keep in mind that buying fix
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Are condos bad investments?

Question: “I’ve heard that condos are bad investments. Is that true?” Answer: Not at all. I personally own three rental condos and they’ve been great investments. They’re especially good for beginning investors because they’re lower in price (on average) and require less management and maintenance since the HOA takes care of the exterior and grounds.
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Accepting Offers from People Who Haven’t Seen Your Home

Question: “My condo is listed for sale and I got an offer from someone who hasn’t even seen it yet. Should I accept it?” Answer: It depends… If you just put your condo on the market, I’d say NO. You don’t want to take it off the market during this prime early time and risk
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Are There San Diego Condos Without HOA Fees?

Question: “Hi Gary. Could you please email me a list of condos without HOA fees in P.B., Clairemont, U.C., and nearby areas…” Answer: That would be a very short list. As in VERY short. I’d estimate that 99.9% of condos have HOA fees. The rare exception would be a 2-4 unit property converted to condos w/o
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Should Your Agent Be There For All Showings?

Question: “I’m interested in selling my condo in La Jolla. I’ve already spoken with an agent who promised she’d accompany other agents for all the showings. Are you willing to do that?” Answer: I’d never do you such a disservice! Why is that a disservice? Because it usually dramatically reduces interest and showings. Let me
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House vs. Condo: What’s a Better Investment?

Question: “Hi Gary, I don’t really want a condo. They’re not a good investment, with the homeowner fee and that they don’t go up in value. A house is a much better investment, don’t you think?” Answer: I hear that all the time, and I would respectfully disagree. Of course, you have your personal preferences,
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House vs. Condo: Which Appreciates Faster?

Question: “My husband and I are planning to buy our first home and we want to make the right decision. Can you tell us which appreciates faster, a house or a condominium?” Answer: The assumed conventional wisdom is that houses appreciate faster than condos. I don’t have any stats, but based on observation I have
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When Low Owner-Occupancy Hurts Your Condo Value

Question: “I live in a four-unit condo complex. Three occupants are owners and the fourth is a vacation home for the owners. Now one of the owners plans to move and rent his unit. Does this hurt the value of my condo?” Answer: If a condo complex falls below 60% owner-occupied, financing gets more difficult
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How Much Should You Pay for a San Diego Home You Love?

Question: “We could use your advice. We’ve been really studying the market and looked at over 50 condos. We finally found the perfect condo for us. We offered and the seller’s bottom price is $435,000, but that model has been going in the 420s. Any words of wisdom?” Answer: I have three comments – I
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