Would you do this?
Good Morning all,
My name is Michael, 51 and working toward retiring and not being worry about weather I have enough money to live on when that day arrives.I have been a Real Estate agent and Investor for the past 12 years. Currently I owned 15 rental properties. Half are paid for and other half, I have mortgage on.
Recently, I sold one of my rentals and trying to figure out what is the best use for this money. In my market, that prices has gone up a lot and have not been able to find anything that would make sense buying at this point.
I am thinking about paying off one of my loans, which is interest only at 6.62%. Have owned this 4-plx for 7 years.
Would you do this or does anyone have a better idea?
Thank you in advance