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Updated over 5 years ago,
Should i have anxiety with all my debt and business model?
So we started a buy and hold rental business a little over 3 years ago and have 23 properties. Bank keeps lending us money and basically the debt is scaring me a bit and im like i have no business doing this and its going good but i have my days where i worry alot. So my debt is $895,000 but according to the banks and real estate agents and my knowledge there all worth $2,025,000. I just dont know if this is all correct and what if these numbers arent real? The gross rent is about $23,000 and after all expenses make around $7,000 but keep spending everything and putting right back into business and are area is really appreciating. My plan is to hold as long as i can and once we slow down a bit and stop the mortgages are payed off we will really cashflow alot more like right now would be $15,000 once lines and mortgages are payed down. Any thoughts on all this would be very helpful. Me and my wife are both 30 years old also and this has turned into my full time job and i enjoy it most of the time. Beats my old job big time. Any advice or thoughts would be great. Thanks BP