As a novice investor, I am contemplating my next strategic moves in the realm of investment. Let me outline my current situation for you: I am the owner of a sole rental property I purchased in 2014 at the age of 24. The property currently hovers around breaking even or slightly negative cash flows, which never bothered me because the tenants cover my mortgage. I’m partial to the property for a few reasons: it previously served as my first and primary residence, it consists of a mobile home resting on a 10-acre parcel of land, and my family has recently acquired the adjoining 40 acres that bounds my land in New Cumberland, PA. I never plan to sell this property for these reasons and could potentially build a house there in the future. I just don’t want to build now because of the revenue stream.

In light of this backdrop, given my available funds, would it be wise to pay off the remaining $30k mortgage? Which would be a potential savings of approximately $5k in interest but also will shift the property's financial trajectory toward a positive cash flow scenario.

As an alternative, would you use these funds to procure an additional property that cash flows to start growing my personal portfolio which is my goal. I could also look at raising my tenant’s rent which is currently $650 / month (for a decent single wide, one-bedroom mobile home).

Let me know your thoughts or DM me if you have anymore questions.

Thanks!

Branden

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