the opposite end of "starting out"

[Heather U.]

I see lots of discussion and help around getting started but I'm curious to know about everyone's end game plans.  I keep reading about getting started by using the BRRRRRRRR (how many R's?? hee hee)  Method  but for us I'm not so sure this is the best strategy.  Are there different methods that shouldn't be used based on a particular person's financial goals?  

In a nutshell....husband and I are about 48 years old. We'd like to retire in 7 years at 55.  We just started investing the past two years. Ultimately we'd like enough properties with enough cash flow that we can use that cash flow to supplement our income at 55.  Thinking an extra $4000 per month would be great but of course, the more the better. 

It seems using the Brrr strategy here just continues to add mortgages instead of paying down the loans so our cash flow increases. I think the BRRR method seems great for someone younger (or looking to flip). They have time on their side to then spend 20 or 30 years using the cash flow to pay down the mortgages.

We are looking at trying to pay the properties off as quickly as possible but the Brrr method doesn't do that necessarily right?  That method, or I suppose many other creative financing options, helps you to BUY properties but then you need to figure out your time frame for paying them off, if that's your goal. 

So we have currently (all single family)

1) a house we went halfsies on with my parents in Fl. Purpose of this one was not cash flow actually, but more so appreciation. It breaks about even each month and is appreciating nicely.

2) a house that holds an $84000 mortgage and rents at $1170.  Paid $126000

3) a house that we paid for in cash ($128000) and rents at $1190

4) just closing on another house that was $135000 and will rent (assuming) about $1150. This we will likely put 20% down with a conventional 30 year loan.  

5) We have our own home with a $200000 mortgage on that we are currently paying double payments so it will be paid off in 7 years. 

Just  curious to know everyone's plans for paying off their investments (or not.) Still trying to sort out our plans and if it will work.  If we do 30 years loans on these properties and just pay the minimum we would be 78 years old by the time they are paid off! Well that doesn't help us!!!  Did we just get in way too old???  I know our properties aren't showing a huge cash flow but we are at about the 1% mark for them.  We felt that was good considering we are buying from overseas and really needed to  have an awesome P. manager because of that.  So we had to stick to one area.  This area is producing barely one percent returns but we were ok with that.  We just wanted to get started so we could get going on things. 

Thanks all for your comments, critiques, thoughts on this.  Sorry I tend to babble and go in circles trying to explain myself.  I've just always wanted to ask this question as so many podcasts are about getting started, how to find the money to buy the houses etc..but I've only found 1 podcast that addressed actually paying the properties off.