Survived 09? What'd you learn?

[Jason Kern]

Hi All, 

I'm currently building a portfolio of buy/hold properties in Idaho. I've got my first SFR and it's going well. As I'm shaping up for my second purchase I'm thinking back to 09 when I was working as a broker and saw so many people get upside down in their mortgages. Anyone survive 09 with buy/hold properties? Anyone blow it and learn what NOT to do? Just want to keep my eye on the market cycles as I build my portfolio so I can weather a storm if needed. My thought is to make sure I'm always at 75/25 or better LTV with properties so I can back out in softer market with minimal damage to the bottom line. Also, making sure there's room in my NOI to reduce rent if needed but still cover the liabilities/debt service. Looking to be aggressive but smart to build some income.