Snow balling VS 15 year notes on rentals
Snow balling vs 15 year notes on rental properties....? Have any of you ran the numbers to see which is a better strategy on paying down the loans on your properties? We currently have 2 rental properties, one a 4 plex with a 240k balance at 4.5% interest and a duplex with a 155k balance at 5% interest. They are both on a 30 year am. With an extra 1100 a month I can pay these BOTH of in 15 years OR... would it be better to pay off the duplex first with the extra 1,100 a month and then snow ball it into the 4 plex? Other concern is we are continuing working on adding more properties to the portfolio so within 5 years we could have 5-10 more properties. How do you keep track of them all while paying them off as fast as possible? Or is it best to just save the cash flow and wait for things to calm down and buy more when the opportunity is greater? Thanks in advance for any advice and input.