To Pay Down Mortgage Or Buy New Investment Property

[Conner Woods]

Hello,

I'm relatively new to REI. I've been going back and forth on whether or not to pay down the mortgage on the duplex and lower my risk or buy a another property and expand my REI portfolio. I know people have different opinions on this and I'd like to hear from some more experienced investors their take on this. I'll explain a bit of my personal situation below.

I bought a my first Duplex end of October 2017 for $105,000 at 10% down as I was househacking the property, one side was already being rented. I am currently living with my GF at her place because she has a fenced in yard and together we have four dogs. I have some repairs to finish up on the side of the duplex I was staying at before I'll be happy and looking to rent it out (hopefully be done no later than beginning of may). 

I'm currently employed full time with a good job as well as I'm taking 14 college credits and will be continuing this for probably another 2 years atleast while I look to at least get my Bachelors degree (my work is paying for it so I'm not incurring any debt, as well as they give me three hours paid time off a week towards my studies). My free time is extremely limited right now.

I'd like to buy an actual home together with my GF in the near future with more space and a better school district as we plan on trying to have a kid within a year or so, which will also add debt to myself. I'm 23, will be 24 in June, not sure if that will make a difference but would like to provide as much info as possible to get the best responses.

Any input will be greatly appreciated as I continue to weigh out the pros and cons of each option (buying another duplex or paying down the mortgage on the one I own currently).

Respectfully,

Conner Woods

Edit: My duplex is located in Lansing MI