Dear all, I´d like some advice from like-minded investors. I´ll give u an example and honest scenario of a young buy-to-let investor.. To begin, I may very soon be in a position where I´ll have 55,000€ from a re-mortgage in Spain. The bank scre*ed me on valuation due to credit crunch and gloomy Spanish market but something is better than nothing. Now I´m realizing the reality that it is virtually impossible for me to get a mortgage in Poland or probably anywhere else on the planet cos I´m a low-earning self-employed man and have 3 mortgages of average LTV of about 65-70% on each of 3 properties in Spain. To be honest, I don´t think I´d want another mortgage either in Poland or Romania anyway cos I have reached the stage where i may not be able to cashflow much more. So, with this money (55,000€), should I either pay off my Warsaw flat over next 2 years (40,000 € outstanding in stage payments plus kitchen/finish and other costs) or else just flip Warsaw flat and buy something outright in Romania NOW for about 50,000€ if that´s still possible. I´ve realized that I will have to keep some money aside in an emergency account just in case one of my two tenants in each Valencia flat don´t pay me. I also don´t understand how it is possible to further increase my portfolio cos as far as i can see its really hard to get mortgages. I´m happy with my situation but am learning that gearing isn´t as easy as some people may think. I think living in Spain doesn´t help the matter either cos i imagine British market is more advanced for buy-to-let than Spain. In any case, the real estate bubble in Spain is beginning to worry me too, or maybe i´m paranoid, but i can´t honestly say that i will be able to off-load any of my Spanish flats quickly if i did want to sell them. Another thing i´m learning is that cash is king and all the insurance policies, life insurance and mortgage insurance, community expenses etc. on each flat are draining my resources. I may very well settle with what I have after this operation. Hope this has been useful example to some young investors. Regards, Liam