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Updated over 9 years ago on . Most recent reply

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18
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Brandon Z.
  • Chattanooga, TN
0
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18
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Risks of Having Many Mortgages

Brandon Z.
  • Chattanooga, TN
Posted

Been reading and watching a bunch of stuff from the Syrios family, who manages hundreds of rentals. Really compelling stuff.

I currently don't own any properties, but I'm wondering if anyone with experience can explain the risks of having multiple mortgages totalling significant amounts of debt.

In the event of an economic downturn or crash, can having this much debt/risk put you in a situation to lose everything you have, even other personal assets like savings, primary residences, etc?

How does getting a good deal on a property (20-30% below mkt value) and/or having more equity built (or acquired through down payment) help against this risk? Are there other precautions you can take, like owning the properties under a business versus your personal name?

Thanks,

Brandon

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