Updated almost 6 years ago on . Most recent reply
Pay Off Loan or Buy More Properties
As an early 60s aged new investor, I am wondering if I should focus on paying off of my current rental properties 30-year mortgages and enjoy the increased cash flow in a decade or should I continue purchasing more rental properties realizing that at my age (60+) I may not be around in 30 years to enjoy the benefits of the larger portfolio. By focusing on paying off the mortgages now, I will save paying all that interest and I could have a nice cash flow in 10-15 years. Buying more properties will create a larger protfolio but most of my payments for the next 10-15 will go towards the interest and will not build much equity in the properties. Any thoughts or recommendations?