Updated over 7 years ago on . Most recent reply
Pay off home, duplex or save?
Trying to figure out what the best path is to FI/RE. My wife and I make around $190K/yr and currently live in a home that we don’t plan on leaving anytime soon. If we did leave, we would rent it out anyway.
Our SFH is worth $360K with $275K left on the principal. Our duplex is worth $350K with $252K left on the principal with current cash flow of $700/mo ($350 per side). My question is do we focus on paying off our home, the duplex or save for another investment property? I️ like the idea of attacking the duplex principal and paying it off as quick as possible to generate $2500/mo in cash flow, but saving for another rehab rental is attractive too. SFH is 30yr/3.625%, duplex is 30yr/4.25%. Any suggestions are greatly appreciated!