Buy and hold strategy question

[Paul B.]

Hi - I have an investing strategy question. I'm taking a long term view to my investing. I currently have two buy and hold multifamily properties that were acquired with traditional financing at 3.75 and 4.25 rates, 30 year, 25% down. Monthly interest expense is pretty minimal, about $300/mth each. So the cash flow on each property is greater than the interest expense. Strategy-wise, is it better to pay off the mortgages as early as possible and leverage the equity for additional RE purchases, or to save & invest the cash flow as portfolio income and then make additional RE purchases? With interest rates likely to continue going up, do additional loans make sense versus saving & investing with the cash? And I think part of the answer lies in how fast you want to acquire properties. Would also be interested in Chris Clothier's opinion on this as his blog on leverage sparked the question. Thanks!