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Updated over 4 years ago,
does anybody else every worry???
Do you ever worry? I'll be the first to admit that I tend to overthink things...I'm all in on real estate - in 5 years I've acquired 7 rentals and flipped 8 houses, but as I continue on the pathway, I find myself worrying more and more. One day I think about building an empire, the next I think maybe I should pay off a couple of units and put things into auto pilot.
For context, the first flip I did I was a young person with no kids...I had no idea what I was doing. My even house got red-tagged because I was installing a roof without a permit (permit?? no idea!). That didn't phase me one bit (and actually that was a killer flip coincidentally)!
Fast forward 5 years and now I pull full reno permits, don't cut corners, understand more fully what I'm doing, etc. I have refined criteria, I always put 20-25% down on rentals, I am pretty conservative by most accounts. But I also have 2 kids now and significantly more net worth and I just find myself thinking about statements you hear from investors such as "it's only a matter of time before you get sued in this business".
Does anybody else think about this sort of thing? I legitimately try to do everything right - I treat renters with dignity and respect, over-remodel my units, I tend to be lenient most of the time but at the end of the day, maybe I'm just wondering at what point it's time to intentionally plateau instead of continuing this arch?
Anybody else wrestle with this sort of question?