tracking investment progress
I know this has been discussed in the form of how much debt should I carry and other similar topics. So I am applying for a cash out refi with a local bank (commercial dept) and they had me fill out a financial statement. This is a little bit of an eye opener and gives mixed feelings. So my total assets are $768,157. / liabilities $411,054. / Net worth $357,103. Real Estate portion is: $643,000. assets and $374,000 liability.
This raises questions. How am I doing? Is this a good ratio or should I flip my 4th property, intended buy and hold to obtain more cash to pay down debt? I have been doing the BRRRstrategy, but by the fourth my cash is starting to dwindle and my debt, well I am not sure. I have nothing to compare to. On one hand I say keep the property as a buy and hold (cash flow will be comparable to all my other 3 about $250 month each after all is paid and reserves with held). On the other, I want to sell and have an additional $35,000. So $90,000. +/- for the next one if I flip it. Or $55,000. to work with if I refi the 4th property at 65%. Can I get some comparisons and opinions? I always appreciate any input.