pay off existing house first, or buy a 2nd house first?

[Jason Schmidt]

I am VERY green when it comes to real estate investing. I am a homeowner (have been for 3 years now) of a house that I paid 122k for. I have the mortgage down to $107k, and plan on paying as much as possible on it to get it down to $0 in a year and a half or so.

I have about $30,000 cash right now in savings, and am wondering if I should go right now and begin buying another property to rent out, or if I should wait until I pay off my existing house in a year and a half. What are your thoughts?

Can't wait to hear!!!