I am an intermediate investor. I feel stuck. What do I do next?

[Ryan Parnow]

I have been investing for just over 10 years.  I started with a duplex where I lived in one side and rented out the other.  I now have 13 properties.  I feel like I know what I am doing, but whenever I look at my numbers I don't feel like I am making the progress that I would have expected.  So I am going to lay it all out there.  These are the numbers for all the properties I own.  

Some notes: The duplex is a 15 year note, the 2nd mortgage goes to 3/1 House D.  

I feel like I am not getting the money out that I should.  Did I buy some of these wrong?  What should my next steps be?  Sell something? Refinance something? Buy more? Pay down aggressively?  

[Jeff B.]

Originally posted by @Ryan Parnow:

@Anthony Gayden ...

@Jeff B. The major reason that the duplex is running so negative is that it is on a 15 year mortgage with about 9 years left.  Should I refinance that one back to a 30 year mortgage?

 As an investor, we typically try to hoard cash and use OPM.  Paying down a mortgage is not a normal strategy for an investor - - you're creating dead equity which kills the opportunity for more acquisitions.  There are those who are debt adverse but that's a difference kind of choice.

You want to 'feel better' about your investments?  Manage the expenses; drive them to zero wherever possible (metaphorically). I put a lot of time and effort into my units and I didn't do that to earn $1.95. I read of numbers here on BP at earning as low as $100/door - - I wouldn't work for that myself. My units were returning over $500/door and I felt that was well worth my time. Pick any number you will feel good with and manage to that number - - you will feel better and more satisfied with your REI.

Look at all your negative cashflows and solve them or liquidate!