Should I spend 20,000 to pay down a loan or buy another property?

[Travis Elliott]

Hi all!

I have two loans associated with my business and I am wondering if I should take $20,000 to $30,000 and pay one of the loans down?

Here are the loan details

Both loans have a balance of about $190,000 and they are both at 6.5% interest. The remaining term is about nine years.

So i could plop a lump sum onto this loan and shorten my term by a couple of years and save interest as well.

The second idea is to take the money and put it towards  another rental property purchase. I have to say that I have a comfortable of properties now and I am not 100% sure that I want any more.

So i am open to suggestions.

Thanks

Travis