Real Estate Investing - paying off vs not

[Tu Cao]

I am a high salary earner. I make roughly $1.5 million a year. Over the past year and a half, I invested in fuor rental investment properties with the mortgage rates of 6.3-6.8 for each of the property over 30 years. For each property, I have roughly $500,000-700,000 Mortgage so technically about 2.3 million in loan. My down payment is roughly 50% of the properties value. Hence, I have a positive Cash flow. All my houses currently have good tenants that pay on time. I was wondering if I should use my salary to pay off the mortgage loan so I don't have to pay too much of the interest Or let the tenants pay my mortgages over the 30 years and use my salary to invest in other ventures such as ETFs, stocks or buy more houses.

At this time, I have 5 properties. I do not really have the desire to buy more unless there is a really good deal that comes along.

Some people tell me that if I pay off my mortgage early then I will be able to leverage the tax benefit of owning and paying mortgages properties. I wonder if it is worth it.

Please comment

[Joe Villeneuve]

None of the numbers you stated tells me enough to give you an answer.  Here are the questions I would have before I can give you an answer:

1 - What is the rent/mortgage payment/monthly taxes/monthly insurance on each property?
2 - How many more months to do you on the mortgage for each property
3 - How much cash have you put into each property to date?
4 - What is the Value of each property at this time?