Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 5 years ago,

User Stats

19
Posts
13
Votes
Josh Bast
  • Minneapolis, MN
13
Votes |
19
Posts

Acquire more or aggressive payoff?

Josh Bast
  • Minneapolis, MN
Posted

What's up BP!

I have submitted my first offer on a SFH that I intend to rent out. The purchase price of the property, and what I intend to be a similar price of properties I expect to purchase in the future, is around $70K (I will buy SFH from 70-100K). The properties are in a 20K town in a more rural area.

My question is: with my current income, I could rapidly pay down a property using my own personal funds in a 2-3 year time frame. My ultimate goal is to replace my wife's income with rental properties. 

Would you:

A. rapidly pay down the properties in the 2-3 year time frame

B. use the cash to instead acquire more rental properties

Just want everyone's general thoughts. I was leaning toward A. 

Thanks!

Josh

Loading replies...