A real estate investor explains when to stop buying more properties and focus on stabilizing what you already own. The video covers managing multiple properties and keeping your portfolio healthy.
When do you need to do that for everybody? It's different, right? You get asked this question. Jazz gets asked this question. A bunch of people have been asking me this question. Should I stabilize? What? Depends. What are you doing right now in real estate? Like I mentioned earlier, you could be not mortgageable. You could have a life circumstance that's altered you from accumulation or may have put you on the backseat due to things that are out of your control. You may be at a point where if you've amassed 20, 30, 40, 50 doors, and all of a sudden you're like, it's overwhelming. I don't even know what I'm doing or how many properties I have. Right. One of our key indicators was when we created a large portfolio. I want to say maybe around 30 to 40 doors. We didn't know which one was rented. And that's a problem. Right. How am I supposed to know that my portfolio is performing? It doesn't matter how many doors I have. If I can't sell that my overall portfolio health is healthy, I could be shooting myself in the foot by attaining accumulating more. Right. So it really comes down to your situation, your circumstance, your vision. We do a lot of harping on vision when we first start off in the mentorship. It's all about vision. Where do you want to be in the next year? Where do you want to be in three, five, 10 years? And how far along have you come? In whatever amount of time you've been working at it, every single person is going to have a different point of stabilization. I know for us, it was when we felt overwhelmed and Jazz, frankly, lost track of what our properties were doing. Like I said, we could even tell you if it was rented or cash flow. That was a good indicator for us to then stabilize.
