Low end condos were definitely the best performers appreciation wise but its not that simple. I’ll explain.
Bought one in NP in late 2010 for $85K. Back then the low end condo complexes were mostly under distress and things had to be bought all cash. Put a tenant in at slightly below market and never raised rent. She stayed until late 2015. When she left, I did a $30K remodel and sold it for $250K in early 2016. Right now its worth around 330K.
Early 2013, helped client buy a short sale in MM for $380K that they were renting. They put zero down with local credit union. Their place is now worth mid 700’s.
My return on investment was well over 100%. Their return was infinite as they could finance the whole thing, had no moving costs and payment was similar to rent.
