Pay off mortgage or save the money for next deal?

[Bruce Martin]

Hello everyone,

I know this is the all too common question that depends on one's strategy and tolerance for risk but I am still uncertain about which way to go forward.  I have a townhouse that is cash flowing and I have been paying it off very rapidly.  The specifics are as follows:

Purchase price: 78K

Mortgage: 54,600 @ 20 years, 4.5%, 5/1ARM 20year amortization = $430 monthly

Rent: $950

Minus property management and HOA = $146 cash flow

The mortgage was started on 5/2015 and I have already paid it down to 24K.  On my previous townhouse, I paid it off completely in a similar fashion.  I was planning to do the same with this until I started to educate myself on the power of leveraging and using other people's money to make more for yourself. 

So my question is, since I have committed to paying it off quickly should I follow through and keep doing it to free up another $430 a month?  Or should I let the mortgage ride out and pay the minimum while building up my cash for my next deal?

If I stop paying extra now, when the first rate adjustment occurs I will only owe $12K and it will be paid off in 6 years.