STR investor balancing growth and debt freedom.

[Andrew A.]

Hi everyone,

I've been a BiggerPockets member for a while, but apparently more of a reader than a poster until now and never properly introduced myself.

My wife and I have been investing in real estate for a few years now in short-term rentals (in a foreign market - Tbilisi, Georgia). We currently have several properties that are performing well and covering their financing and costs with some surplus cash flow. Over time we’ve built up a decent foundation, but we’re now at that interesting “what’s next?” stage. 

The buying market has changed significantly due to the war in Ukraine and an influx of foreigners and money into the country - that also led to a short term surge in the STR space.

Our personal situation has also changed more recently — we now have a young child, and our priorities have shifted slightly from pure growth toward a bit more stability, risk management and financial freedom. We’re currently focused on paying down what we consider relatively high-interest loans (around 9% with insurance etc.) on our existing properties rather than aggressively leveraging into new acquisitions.

That brings me to the question we've been thinking about a lot lately:

Has anyone here successfully scaled a real estate portfolio while taking more of a Dave Ramsey–style approach (lower leverage, prioritizing debt payoff)?

Most of what I see discussed in the STR and investment communities revolves around scaling with OPM and maximizing leverage. I completely understand the math behind that approach, but I'm curious whether anyone has built a sizeable portfolio while being more conservative with debt — or perhaps transitioning from leverage-heavy growth into a debt-reduction phase.

Would love to hear how others have approached this balance between growth, leverage, and peace of mind, especially once family enters the picture.

Looking forward to learning from the community.

Andrew