At what point am I concerned about too many mortgages?

[Mitch Smith]

Greetings BP members,

I am looking for a little feedback.

I do flips in San Diego and have had some success in wholesaling outside of California. I have found that even though the cash flow is nice, what I am really doing is just buying myself another job with each flip. I am now moving my business into a direction of Buy and Hold with the goal of passive income. I have a question regarding leverage. At what point are you over leveraged? As long as a property is cash flowing positive, Is it possible to have have too much money owed? Might be a dumb question but it seems that if you have done your homework and have a contingency plan for unexpected costs, it shouldn't really matter as long as the property cash flows each month. I would be interested to hear what you think.

Thank you.

Mitch