General Real Estate Investing

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Rik Patel
  • Real Estate Agent
  • Miami, FL
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Pay off Mortgage Early or Take advantage of low interest rate and

Rik Patel
  • Real Estate Agent
  • Miami, FL
Posted Aug 6 2019, 11:36

Hi All! 

I'm curious to know people's opinion on this situation. I just closed on a duplex ($166,500) in ohio that rents for $1960 (section 8). I have a 30 year fixed mortgage at 4.87% , loan balance $125,000. I'm reading that if I make bi-weekly payments, I can pay off the mortgage faster and avoid paying more interest. However, this is also my first investment property in which I continue to grow with. Would you be more concerned with paying off the house early or continuing to leverage?

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