I am looking for some help with an exit strategy for two rentals!

[Scott Sweeney]

I live in Western Washington and own a rental home in Olympia and Wenatchee.  Both are renting for slightly below market value but they cash flow each month.  I have over $100,000 equity in both homes.  I have great renters in each home and I self manage the homes which so far has been fine.  I retire in 5 years from my W2 job and will be able to pay off one of the homes with my deferred comp account.  My question is this.  Do I continue down this 5 year road of having 1 paid off in 5 years and start working on paying off the 2nd home or should I sell and use the equity to purchase a couple other homes in a cheaper market like Columbus or Tampa?  Thank you in advance for your advice or suggestions.

[Remington Lyman]

Originally posted by @Scott Sweeney:

I live in Western Washington and own a rental home in Olympia and Wenatchee.  Both are renting for slightly below market value but they cash flow each month.  I have over $100,000 equity in both homes.  I have great renters in each home and I self manage the homes which so far has been fine.  I retire in 5 years from my W2 job and will be able to pay off one of the homes with my deferred comp account.  My question is this.  Do I continue down this 5 year road of having 1 paid off in 5 years and start working on paying off the 2nd home or should I sell and use the equity to purchase a couple other homes in a cheaper market like Columbus or Tampa?  Thank you in advance for your advice or suggestions.

If I were you I would keep those properties, save up some more money or refinance then, then start investing in areas like Columbus, Ohio