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Updated about 6 years ago,
Need some advice on reinvesting cash flow profits
Hi all - I purchased my first cash flowing rental property this year, and it is cash flowing very nicely. I am wondering the pros/cons and any advice on investing some of the annual profit in paying off the principal (it is a small loan and would be nice to own it free and clear more quickly) or strictly applying profits towards purchasing more. I know a lot of this has to do with short and long-term strategy. My goal is to acquire 1-2 cash flowing homes a year. Would love your thoughts, advice, comments!