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Updated 3 months ago, 10/20/2024
Paying off a rental aggressively. Pros & Cons?
I've got 5 units (Duplex & Triplex) that I've owned for 4-5 years now. currently cash flowing $1500 total.
Since I'm really busy with my job, I've been strongly considering paying off each one aggressively, which would increase cash flow by 2k which would be similar to owning another 5 units, but without the headache of 5 more tenants and the issues that inevitably arise with owning more properties.
Obviously I could use the money to buy more more more, but there's something attractive about owning the rentals outright, then saving the additional cash flow to get the next one and so on.
Anybody here regret paying off a rental or have any advice?
thanks,
Edward