Hi gang, I’m 46 and started building my RE portfolio about a year ago. My goal is to have 10 properties fully paid for by the time I retire around 65 (or hopefully sooner). We currently have 3 townhomes (One on 240m 6.5% and Two on 360m 7% & 7.5% mortgages). My wife and I both have good jobs that we plan to keep as we’re able to have savings that we re-invest in future downpayments.

Seeing how little of principal is paid off in the beginning of the loan cycle, my urge so far has been to throw what I have as extra payments chipping away at that mountain, but I’ve been also thinking lately if that’s a wise practice.

First, I am planning to refinance the portfolio when the rates go down (whenever and if that occurs), so I'll probably not be realizing much of the principal reduction value as opposed to if I kept the loan for the full term.

Second, seeing how RE appreciates, rents go up, and in general $$$ loses value, I am starting to question if I should just pay my mortgages as agreed and instead direct most of my savings towards more acquisitions today. My thinking is if a house that I buy today for $260k will be worth $500k in 20 years and I only have ~ $108k left on the original $190k mortgage, it will be a fairly easy payoff in those future dollars. On the flip side, if I throw in just $100/month more, the whole mortgage will be paid off in 25 years or will have $62k outstanding after 240 months. 

Naturally, everybody has their own plan, risk tolerance and strategy, but what is your general attitude towards paying down debt faster and why?