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Updated about 7 years ago,
FIFO or LIFO - thoughts?
Hello - I am new to this forum as well as new to being a landlord. We currently have 2 properties (bought in 2016 and 2017). The big plan is to have 5 properties before we retire, 1 every year. My question is what should I do: Payoff the earliest property first (FIFO) or pay off the highest mortgage interest first (LIFO)?
Per my calculation, FIFO is 20 months sooner in paying off all properties, while LIFO is $50K less in interest payment.
Thanks!