Why real estate is still the best investment, ever!

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Real Estate Agent with John Aaroe Group CalBRE 01274989

Cute as a button, don't you think?  This 2+2 picture postcard Craftsman fixer measures 1065 square feet, with a small patio in the back, and street parking only.  Situated just a few blocks from Venice beach and close to trendy Abbot Kinney Boulevard, this listing generated much excitement resulting in five cash offers all from investors/flippers and the property recently selling for $925,000.  

Not so unusual for a fixer in a prime location, but when you consider that the seller purchased this property in 1993 for $199,000 as a principle residence then as a rental, and held on to it through good times and bad, it turned out to be a terrific investment for her.  Just goes to show that buying real estate and hanging on to it long term can give you a better return for your money than almost anything else out there!

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Rainmaker
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Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

There is a reason I often tell women that diamonds aren't a girl's best friend. . . Real estate is!

Jan 28, 2015 09:25 AM #1
Rainmaker
1,561,863
Carla Muss-Jacobs, RETIRED
RETIRED / State License is Inactive - Portland, OR

I remember seeing this listing when Ralph listed it.  It's darling and I agree . . . hold on to it and sell when it's right.  I'm sure $199,000 was BIG money to her in 1993!!

Jan 28, 2015 01:55 PM #2
Rainmaker
53,618
Rose Osman
John Aaroe Group - Sherman Oaks, CA

Hi Carla, to clarify .. Ralph posted about this property because he was on the selling side, but it was my listing.  Yes, $199k seemed like a lot back in the day!

Jan 28, 2015 10:40 PM #3
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Rainmaker
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Rose Osman

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