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Updated over 6 years ago,
SFR: Length of Mortgage . . . 15 years or 30?
Hello all! I buy SFRs to rent out. All mine are currently on 15 year notes, and while I understand the fiscal benefits of paying off loans more quickly via a ten or fifteen year mortgage, I struggle with my desire for monthly cash flow. Has anyone else dealt with this conflict? On one hand, pay the notes off faster, less interest and woohoo on the day a house note is paid off. On the other hand, renters are paying the notes so who cares, and a 30 year note would mean lower montly payments, thus a higher monthly cash flow, more houses bought more quickly. What have y'all done with your notes?