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General Landlording & Rental Properties

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Eli Ettinger
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Made a novice mistake and wondering what my best options are

Eli Ettinger
Posted Nov 17 2019, 08:08

Clear lake (houston) TX. 2b/2b condo 1000sqft

4% cap. 100% equity.

Purchase price plus all fees plus repairs $90k

Appreciation 5%

Market value $85k-$95k

Currently rented to a good tenant who pays on time with zero issues.

Now that I understand my mistakes and know that I can get much better returns for that amount and could have bought a better deal, What would be a good way out of this situation?

1. sell and move on?

2. get a heloc and invest in another property?

3. buy and hold? 

4. ??

Thank you very much in advance.

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