Strategy with increasing interest rates

[Patrick Gault]

I currently own two triplexes. The first I bought with a VA loan and no money down. The second I bought with an FHA loan and very little down. If I had put 20% down, both properties would cash flow beautifully. But with 30 year notes and one property at 3.25% and the other at 3.87%, it’ll be a while before I reach a point with my equity where a refi will bring my P&I to below where it is now with those super low rates. Unfortunately you can’t recast VA or FHA loans. So my options to lower my monthly payments are limited at best. There’s always the waiting game which is certainly an option. But I wanted to ask all of you what your inventive ideas are in times with increasing rates. Thanks!