When to stop Acquiring and When to Pay Off

[Account Closed]

Hello all,

Hoping for feedback from investors who have made the decision, or are contemplating the decision, to move from the acquisition phase to paying off all debt.  

At which point in your career did you make this decision and what was the catalyst?  

I have met investors who keep acquiring and want to get to 100 units, others want 10 free and clear.  

I am sure everyone has there own reason for buying properties and the number of units is a personal decision.  Even if you purchased a single property with a mortgage at some point you decided, or the outside factors decided for you, to stop purchasing.  

Thanks in advance for any responses.

Russ

[Dawn Anastasi]

As far as acquisition, people will stop acquiring when they don't need any more properties.

For me, I set up my goal to be 16 properties.  For others, they want those 100 properties.  Sometimes it comes down to the "freedom number".  How many properties will it take in order for one to consider themselves "financially free" -- meaning, they don't have to work a regular full time job?

Everyone's freedom number is different because people live in areas with a higher or lower cost of living.  Also some people are single, others are married, and some have children or grandchildren their freedom number must provide for.  So there are a lot of factors to consider.