1. continuing to grow slowly by acquiring 1-2 properties each year.
2. start paying off properties.
3. go all in buying 1 property per month?
We've been practicing 1 and 2 for the last 10 years and it's pretty amazing when you look back at the wealth that was created with a little luck, a little sweat and a little patience.
@Jared Smith - you need to work with lenders that will lend based on the property and not your W2 income. That's how I was able to grow my portfolio to 127 rentals in 5 years.
Salvatore, good point. Where do you invest and SFH or MFH? And that is very impressive!
@Jared Smith - has to be option 1 or 3 and would go with option 3 as long as you are not breaking your financial analysis criteria (e.g. ROI, CoC return, monthly cash flow, etc). I'm not sure what option 2 gets you, other than maybe peace of mind, but what fun is that?
It sounds like you're off to a great start, keep it up!
Jon, thanks for your input. At this point option 3 would be a viable option as I build lending partnerships. I really focus on finding the right deals so I have been methodical in my approach but would also have to shift FT and move away from my W-2 to make that a reality. I was thinking of paying one off as security/safety net or like you said peace of mind and then continuing to build! I max out all retirement accounts and then invest everything else into real estate the last +8 years! Thank you and good luck!