Updated almost 8 years ago on . Most recent reply
Should I pay off the mortgage sooner?
Pardon me if this sounds like a beginner's question. I have an investment property with 2 tenants paying off the monthly mortgage (30 year fix @ 4.25%) leaving me with a little less than a 1k a month. I’m debating whether I should really dedicate all my funds in paying off the mortgage in 10 years or should I instead use that money for the down payment to another property which is one of my goals. I really enjoy living debt free. Any advice?
Most Popular Reply
debt is perfectly fine if you can A) service it B) outperform it. By all means build up a reserve so you don't have to stress over it, but if your goal is to get another property then save up for that. Debts are cheap now.... save away.