Paying off Rental Properties

[Account Closed]

What are some of the pros and cons of paying off the mortgages of a few of your rental properties? 

Thanks!

[Trevor Ewen]

@Account Closed

Debt is a very personal topic, definitely something to be evaluated on a case by case basis.

I would do some scenario planning with the mortgages you already have. At what number would you become nervous about having so much outstanding debt?

Whatever number that is, is a good place to start paying them off. Some people never reach this number, for others, it's #1. Some people buy homes with cash only, check out this great show with Sharad Mehta:

https://www.biggerpockets.com/renewsblog/2015/12/31/bp-podcast-155200deals-years-sharad-mehta/