Originally posted by @Joshua D. :
So started my business about 3 years ago now have 15 houses and 17 units all together. Keep finding really good deals everyone is telling me and I should keep going. Easy to say when its not your money or business. So I have 300k line of credit available right now gonna use most of it to finish up rest of my properties and once done will have 500k available to use with around 424k debt and 1.1 million worth. So i keep finding deals with my direct mail and every marketing avenue i use. But I wonder are these properties really worth what the appraisals are coming back for and what my real estate agent is saying they are worth? Seems to good to be true really. Do i keep going and buying and renting or do i hold off and slow down? Please help feel crazy here. Alot on the line i dont know i need help. Any input would be great?
Good stuff man - so what's your primary goal as an investor? Buy and hold for passive income? Are you looking to sell all these properties soon?
Hmm I never understood why Oregon property prices were so high? Lived in Eugene 5 years. Keeping LTV at 50% or lower is what I do so you're well securitized..
@Joshua D. , you seem to be in a really good spot. Sounds like you're executing the BRRRR model at a high level.
If you're not sure if your valuations are right, you could probably get an independent appraiser to assess 2 or 3 of your properties randomly to keep your agent honest.
That said, if you're cashflowing really well, what are you concerned about? If you're not cashflowing, this is a great time to sit and think about it.
Thanks everyone for the input. I really want passive income and equity behind my properties and be able to sell if need to quick and easy. Just feel very nervous the more i grow and expand alot on my shoulders i feel like.