Buy and hold with cash or lenders

[Erik Baker]

I'm involved with a group of investors which purchased our first investment property in Florida. The property is performing as expected, even slightly better. We're planing for the future and our opinions are a little lopsided. We have a discussion coming up on whether to pay this house off before we purchas our next property (roughly 5 years) And own all future properties cash. Or to leverage this house to buy our next investment property sooner. One member is fighting for the benefits of not losing money to the banks on interest and or PMI while others believe in using OPM. Any articles or opinions that can clear this up for me are greatly appreciated as I want to go into the meeting as informed as possible.