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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I has a two bedroom condo in Logan Circle for 15 years before we bought out house. I bought it for 300K. It was basically paid off when we decided to sell and move to the suburbs when our oldest started K. I was a single guy when I bought the unit, right out of law school. My wife moved in seven years ago when we got engaged. We had two kids in that unit. It was cramped, for sure, but we made it work. We sold it for 750K last spring.

That's how we were able to afford to live in North Arlington while being dual feds. [/quote]

$300k for a 2 bedroom in Logan Circle 15 years ago was probably on the higher side at the time. It's great for you that it appreciated so well over that time. We bought our first house on Capitol Hill in late 1999 for under $400k, and the recent sales on our street for comparable houses, (actually fewer bathrooms and without parking like we have) for $1.2M, so slightly more appreciation than Logan.[/quote]

I forgot to say that neither one of us sold our condos when we bought this house, we paid 10% down and initially had a 80-10-10. We kept them for years as rentals and sold them for other investment properties later.[/quote]

So you are saying having rental income in no way made it easier to buy an expensive home?[/quote]

I don't think I said that at all. Of course having rentals helped but we didn't make much in profit when we first bought our Hill house and rented out the condos. Rents certainly covered the expenses and a few hundred more per month. We had to get the 10% down payment from savings not from the proceeds of moving up the property ladder and it could be done in 1999. Not so much now for many people. I also think the guy in Logan bought high but lucked out that he did so just as that neighborhood went gangbusters.[/quote]

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