Paying off a mortgage

[Brian Milton]

How much would I have to pay a month to kill a mortgage of 279K in 10 years and in 15 years? I don’t know how to calculate this. Thanks in advance for your help!

Sincerely, Brian

[Joe Villeneuve]

Originally posted by @Brian Milton:

@Joe Villeneuve

Excellent question Joe! I’m thinking the faster I pay off the rental property, the less interest I’ll pay to the bank and the sooner the passive income will go to my pocket vs paying the mortgage. Thanks for your response. Brian

Except, you're missing one very important part of your analysis...you're not the one paying the interest...your tenant is.  The only thing you pay when buying RE is the down payment...and whatever else comes out of pocket along the way.  Increasing the down payment, or shortening the mortgage term, means you ARE spending more of your own money.  The higher DP takes cash out of your pocket in the beginning, and the faster payoff Takes cash flow (the real profit) out of your pocket along the way.  Remember, your monthly payment will go up, and cash flow will go down, ith each mortgage payment.  That's the tenant's job...not yours.