Use properties to pay down mortguage or refinace 30 year?

[Account Closed]

Hello

I just joined and was wondering how everyone does this. Im 24 and currently I have 3 properties and hoping to buy 2 more this year.

Is it better to take all your profit to pay down the mortgage on 1 property and pay it off fast as possible and roll the profits into the other ones or just do a 30 year refinance and borrow it long as possible since its all about cash flow.

To my thinking its best to borrow it long as possible b/c of the tax write off and also its a lower monthly payment which means more money in your pocket. Just want to see everyone option

[Pam R.]

Just my opinion - you are young, interest rates are low, you want to buy more properties, so don't pay down early - use the cash to purchase your additional properties.

Bear in mind that you should regularly re-evaluate your strategy (whichever one you choose) as your life and business circumstances change. But at your age, if it was me, I would be in acquisition mode. Just don't over leverage yourself.

Best of luck! Sounds like you are doing great so far.