Looking for some Advice. Property payoff vs reinvest.

[Corey G.]

Hello Everyone, Let me give you the setup real quick. Over the past 5 years I have purchased 4 multifamily properties. I bought them all a little distressed and fixed them up and have mortgages on all 4. They are all cash flowing. I was looking to purchase another 4 plex property and keep going with reinvesting but I feel the market is a little higher than what I want to pay right now and the deals don't seem to be coming as often. I thought I might switch to paying off the properties I have (at least until the market improves some.) So these are my options:

1. I could save the extra cash from my rentals and invest it in something else until the market improves and then buy another property. Another property would be more cash flow but also more debt and I eventually will need to pay these mortgages off anyways. 

2. I own a house and I was considering paying down my personal property mortgage before paying off the rentals. I owe more on my personal property than the rentals but this property is not cash flowing and is just a liability.

3. Instead of my home, I could start paying down the lowest mortgage balance on one of my rentals and then when paid off, use that extra cash to pay off the second, then third, etc.

Whether I pay off one of my rentals or my house, the extra cash would go towards paying off the other properties. Any thoughts on these choices? I know there are more options but I didn't want to list them all. What do you think? Smart to pay off a rental first or my house? Investing in something else might be the smartest move but I need to start cutting into some of this debt I feel. Any advice is appreciated.