Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated about 7 years ago,
When are you too over levaged?
Ground work:
Purchases:
2015 SFH1 purchased 3/2 118k rents for 1100
2016 SFH2 purchased 3/2 122 rents for 1100
2017 (10/28/2017) closed on first multifamily (4plex) for 268k 12k in repairs expected rent per unit is 800 but looks closer to 900. 2/1
Used 40k from refinance from SFH1 to use towards part of the Down payment for the multi family.
SFH1 debt is 129k worth 172k
Mortgage is 700 now
Rents for 1100
SFH2 debt is 96k and worth 160-170
Mortgage is 638
Rents for 1100
MF1 debt is 201k with 300k
Mortgage 1500
Rents for 3200-3600
My question:
I currently own my own training company it is just me.
At what point do you start paying off debt or stop buying properties.. like how many mortgages do you feel is easy to handle feel you won't over leverage.