Real Estate Deal Analysis & Advice
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
General Landlording & Rental Properties
presented by
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Pay it down fast vs pay it down slow
I and 2 family members own some rental properties. Our current strategy is to pay them down as quickly as possible and to not take any money or distributions for ourselves until they are completely paid off. For one property, it should take 7 years. Meaning, in 7 years, the entire loan (100% leveraged) will be paid back. Another property is looking at 10 years to do this, and another 15 years to do this.
Wondering if anyone has strong opinions on the pros and cons of paying your property down fast vs paying it down over 20 - 30 years. Thanks.