Buy another Rental or Pay off Rentals

[Jorge Guadian]

Write your post

Like to hear what some of you BP members would do if you were in my shoes. Im almost 53 with basiclly mortgage debt, no car, credit card or school debt. Im retired with my pension and rental income I gross just over 107k yearly. I own 4 duplex's. Two are paid off. The other two I still owe 74k on each.  $4405 month cash flow after mortgages are paid. Like to know if I should buy another investment property or pay off the 2 remaining and my home. Im leaning towards paying off the mortgage loans.

I can pay these off  the 2 duplex's in approximately 18 months and increase cash flow to $5,575. The pro would be to save thousands on the interest. The con increase cash flow with another investment. What would be your move. Any input would be appreciated