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Updated about 2 years ago on . Most recent reply
Paying off mortgage early with excess cashflow
New to the market, quick question and love inputs with explanations. I found a deal that cash flows very well, would it be beneficial for me to take that cashflow and pay extra on my mortgage to pay the property off quicker? My thoughts are to add more equity quicker as well as pay off quicker so my cashflow isn’t obstructed by a mortgage payment. Appreciate all feedback! Thank you all in advance.
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@Joseph James Keuer This is an unpopular opinion on BP in general but I personally pay an extra $50-$100/month from my personal cash flows to pay my properties off faster
Leverage is great and I believe your equity should work as hard as possible for you but it shouldn't come at a lack of sleep. Owning investment properties will make you wealthy but you sleep better with less debt to your name
Choose whatever gives you peace of mind, that thing is worth more than extra leveraged returns in my opinion