best way to payoff mortgage

[Kelli Aberle]

What is the best way to payoff a mortgage. I am reading that you can either add extra each month or make one additional payment each year. I think I read that making one extra payment in a year is somehow better than extra money each month and causes the loan to be paid down faster. I currently own 4 properties. 2 are free and clear. 2 have mortgages that I would like to have paid off in 5 years. I am closing on 2 additional properties as we speak (which will also have loans). We are long term investors looking for passive income. Thanks.

[Heath M.]

I just started adding more and more additional principal each month until I got to double payments.  And to make it even more of a game, I put a picture of a house on the fridge with boxes with a number (counting down) that represented each 1,000 left I owed.  Kept us on track and we colored the boxes in as we got closer to zero.  I'm almost there and the closer I get the more extra money I'm piling up to just write a check to pay it off.