Trying to figure out if I should accelerate my current primary residence mortgage payments to pay home off in about 7 years or if I should start investing in rental properties. I think I would get pretty antsy if I had to wait 7 years to get started, but I also want to make the right financial moves. I know, technically, it shouldn't make a difference since you should have positive cash flow on your investments.
Congrats, if you're 7 years from paying off a mortgage. I've changed my mind on this in the last few years. I'd be in the camp that is comfortable with using "leverage" to invest in real estate. You might find similar discussions here, helpful:
Trying to figure out if I should accelerate my current primary residence mortgage payments to pay home off in about 7 years or if I should start investing in rental properties. I think I would get pretty antsy if I had to wait 7 years to get started, but I also want to make the right financial moves. I know, technically, it shouldn't make a difference since you should have positive cash flow on your investments.
Usually not. Unless you have an ARM or an older mortgage at 6%+ or a balloon, your returns are limited to your rate + minimal tax benefits.
Tough to say without ANY info as to your rate, balance, term, pmt, LTV or goals you have.