Updated almost 10 years ago on . Most recent reply
Overcoming Mistakes Advice
As a beginner, when purchasing several out of state rentals I was only viewing ROI during acquisition calculations. What's the saying...you can't eat equity. COC returns are decent on the 30-year mortgaged properties (10-12% range), but 15 and 20 year properties are close to 0% COC. Looking for some input from more experienced folks who have made similar mistake.
Options as I see them are: sell at an appreciated price and re-deploy cash with a more balanced return view (transaction costs will eat into returns); re-finance with 30 year money (also could be costly); or learn from mistakes and let these COC dogs continue to amortize more quickly?