Bought our condo in 2008 during the frenzy & sold it in early 2008. Didn’t make any money. It was a bad location, and 1st time buyer mistakes – terrible noise pollution. Did manage to get out right before the crash. Watched the new owner walk away from it after more than $100k loss. Just lucky timing on our part, and poor timing on theirs.
Rented for 2 years and bought a short sale 4-bedroom on a cul-de-sac in Carmel Mountain Ranch in 2010. Love the neighborhood, and great appreciation over the last decade. Not quite a double, but close. Will never sell, so value is really irrelevant. Without the crash, we probably couldn’t have afforded to buy into the neighborhood.
In 2012, we bought a 4-bedroom house as a rental in mira mesa. Wish we would have bought a few more. It’s more than doubled & is a cash cow for rental income.
Also bought a 1-bedroom condo in mira mesa around the same time for my mother-in-law. Some appreciation. Not a great purchase, but it was bought out of need, rather than an investment.
Mira Mesa (and surrounding area) no longer pencil out from a price/rent standpoint. Latest properties are up in Oceanside. Have picked up a duplex, a 3-plex in the last 5-6 years. Hunting for a 4-plex, but its getting much harder to find deals that make sense. Not even looking at single family anymore. More tenants create their own challenges, but they do cash flow the purchase.
