What is everyone preference regarding having the option to own a handful of properties out right verses having a much larger portfolio with the debt that comes with it? Or do some people opt for a mix of both?
I assume the debt should always be covered by tenants however more is needed to to gain the cashflow from a handful outright.
@Robin Brown Depends on your personal goals. When I started out I borrowed as much as I could for as long as I could. The first 11 properties I bought were 100% financed. Now, after buying and selling over 1,000 properties for my own inventory, of the last 118 properties I bought only 2 were bought with mortgages. I bought the other 116 properties with zero financing and 100% cash. It all depends on you, your goals and where you are in your investing career.