What % LTV do you consider safe?
Hi, my wife and I have moved in with family member and rented out or paid off primary residence that apprised for $171,000 for $1,200/month I understand that is low for the value. However my main concern is if we were to leverage this equity to buy more rentals what ltv in total should we go for? As my job is our only income which only nets $3,100 a month. Do we need to consider the mortgages vs my income and assume worst case none of them rent ever which would really limit our growth to $3,100 per month in mortgages. How do yall approach this issue and solve it. I'm happy to brainstorm with newbies like me on this anytime!