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Updated over 1 year ago,
More rentals OR less debt
Hello!
Does it make sense to use the appreciation gained from our current rental properties to pay down our primary residence mortgage? We currently cash flow about $600/month on 2 rental properties. However, if we were to sell the 2 rentals and refinance our primary, we would either be saving $800/month or could pay our primary residence off in less than 10 years. This would put me behind on our goal of 8 rental units, but would decrease our expenses and possibly allow us to grow faster with less liabilities. Or does it make more sense to keep looking for additional rental properties every few years? I'd really appreciate any thoughts on this!
Thanks!