Skip to content
×
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
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Buying & Selling Real Estate
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 about 2 years ago on . Most recent reply

User Stats

1
Posts
0
Votes
Kurt Larson
  • Norwalk, CT
0
Votes |
1
Posts

Should I pay off the mortgage of my Live-In Duplex early

Kurt Larson
  • Norwalk, CT
Posted

I own a duplex. Purchased in 2017 for $330k.  Lots of sweat equity was put into this property.  Appreciation since purchase has also been stellar.  Current value $575k.  30 Year mortgage at 2.75%.  Mortgage (All In taxes, insurance included) is $2,500 / month.  First floor tenant pays $2,100 / month.  Owner occupied 2nd unit so my housing costs are very low.   

Should I pay off my mortgage early (one extra payment per year) or should I be happy that I have an asset that appreciated that much and am borrowing that $$ at a historic low lending rate and better use that extra $$ to acquire my next property.  My long term goal is to acquire enough cash flowing properties to retire comfortably.   I feel like the extra payment is not going to change the complexion of my acquiring the next property but still could be a big savings on mortgage interest on the current property.   Is there an easy tool available to compare scenarios?

Loading replies...