When to Stop Buying Property
I'd love to hear from people who either knew it was time to stop buying more properties or set up a clear goal for when it will be time to stop.
In a nutshell, I own three properties free & clear (two bought with cash, one mort. paid off) and I am about to buy a 4 plex with cash. I sense my limit coming, unless I scale up and hire a manager. Soon I will be doing a cash out refinancing on a 3 family I bought with cash, but right now I expect to put the money in stock mutual funds and a money market account and sit on it. I expect to buy a new primary residence when I have the time to search for the right place. In the meantime, I intend to travel in the summer and winter and stay where I am (one of the flats in the 3 family).
I noticed when I thought about "being creative" and buying another investment property and a new primary that I did not feel it would add to my life in any way that mattered. I didn't want to take it on. This caused me to decide to get away, wait on the primary, and just enjoy things.
I'd love to hear from people who made decisions to stop buying.