All Forum Posts by: Justin Nwakacha

Thanks Mark. 
Someone advised me to quit residential rental properties and focus on strip malls. The down payment and cost is much higher for a strip mall, so it means it would could take me an additional 2 years to save up to purchase a strip mall. From your experience, do you recommend I buy more residential houses first and then sell later to buy strip malls, or just focus on saving to buy a strip mall?

Hi Henry. I am married with 3 kids. My job is pretty secure but there is a chance of moving within the next 3-5 years. My primary residence was purchased in 2021.

Thanks for the advice.

Hi All,

I own a primary residence in Katy, Texas, still have about $325,000 to pay off. Interest is 2.85% (bought during COVID). I do own a rental property in Texas, interest rate is 4.8%, and it has a lower mortgage left to pay off. 

My question is, should I pay-off my primary residence mortgage to 1)Get peace of mind and some sort of security 2)Opportunity to borrow from my equity if needed 3) Extra cashflow to save and invest in another rental property in the future 

OR 

should I keep my primary residence mortgage (due to the low interest rate) and purchase another rental property instead? I have been debating this for a couple of months and have found conflicting recommendations online. I do plan to purchase more rental properties within the next 10 years (including commercial strip malls), and also hoping to pay off my primary residence within 10 years. I am just not sure which I should give higher priority in 2025.

Your advice would be very well appreciated.