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Updated over 5 years ago,
Paying off rental property Mortgage or not??
Hi, I have a Single family home that is a rental property. The mortgage monthly right now is $1600 and I'm renting it for $2550 a month. I owe $260,000 left on the mortgage.
I have another one where montlhy mortage is $1500 a month and I'm getting $2200 in monthly rent. I owe $240,000 left.
Trying to see if I should pay off and save for other rentals all over again while I wait for prices to come back down... or hang on to cash to buy more now. The market is just really high at the moment so was thinking of waiting. any advice would be great! Thank you