Buy another or pay one down

[Jason Smith]

I own 10 properties (7 with loans, 3 owned). I recently sold one I owned at 100% to buy another with better numbers. I got the loan and it left me with $40K. I could pay down a different property and own it faster or I could invest in another. It's a tough market right now in my area as property values have increased. I've been looking in two different markets for 2 months. What would you do? Pros/Cons

[John Morgan]

@Jason Smith

I’m in a similar position as you. 10 SFRs with two paid off. I wouldn’t pay anything off unless 10 is all you’re going to get. If you’re ok expanding then I’d get another one. My wife says she won’t let me buy any more. However, I wouldn’t mind having cash on the side to be ready to snag a great deal if one comes up. They always fall in your lap when you’re not ready or looking. Lol. But for me 10 meets my goals so I’m content with that.