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Updated about 1 year ago,
Rate my rentals
I have 2 rentals and i would like some feedback on how you would rate my metrics etc and any suggestions of what i could / should be doing next.
Rental 1
- Built 1998, 2600 sq feet, half of a duplex, very nice finish out, 2 story, all bedrooms upstairs, 2 full bath upstairs, 1/2 bath downstairs
- Acquired in 2016 for $330,000.
- Current value $570,000
- Current rent $3300
- Mortgage $230,000 at 3.75% (23 years left)
Rental 2
- built in 1978, 1800 sq feet, B to C+ type property but best property in the neighborhood, 3 bedrooms, 2 bath, no garage (converted to man cave / family room)
- Acquired in 2016 for $130,000
- Current value $270,000+
- Current rent $1800
- Mortgage $60.000 at 3.75% (23 years left)
Both have long term tenants locked into longish term leases (netx 2 years or so)
Any thoughts? Feedback? Suggestions?
Should i pay off as soon as possible? never pay off?