I hate having mortgages

[Mark Dutton]

Hey everyone, I’m a novice investor and I’d appreciate some advice or insight on my situation, even though I know everyone’s circumstances are different.

I’m currently 27 and will soon have three rental properties along with my primary residence. Once I close on my next house, I’ll have about $900K in debt. To be honest, this feels overwhelming, especially knowing I couldn’t pay it all off quickly if I had to.

Out of that $900K, about $500K is tied to 30-year mortgages on my rentals, with interest rates ranging from 2.99% to 4.375% and 400k on primary at 6% 30 year.My total monthly mortgage payments are $5,500 on my rentals, and my long-term rental income is $6,850, giving me a monthly surplus of about $1,300. I’ve been saving that extra income for future property expenses or emergencies, so I don’t have to dip into my personal funds.

I also earn around $130-150K annually from my sales job, though sometimes I feel anxious about whether I deserve this income or worry about losing my job. Despite the income, I still feel like I’m over-leveraged.

Has anyone else felt this way as a beginner investor? How did you manage these feelings or concerns about being over-leveraged?