Updated about 12 years ago on . Most recent reply
The big question
I currently have 2 rental properties with 14% return each of 30k value each with loans 7% 7 year with balloon. I have cash reserves saved up enough to pay 1 off. I am currently looking for a primary residence for myself of around 50k and more investment real estate. Would I be better served to use cash as down payment for new properties or pay off 1 property and get a line of credit or cash refinance that would be more than enough for down payment of new properties. I would like to aquire at least 2 more units within the next year.