Hi!
The choice of what to do when if you have any positive cash flow (cash flow being the profit you make monthly/annually after accounting mortgage, taxes, repair expenses), and whether to keep that money in your pocket or pay off your mortgage early is a personal decision.
For some, the choice can be to keep the money, and to get more leverage to acquire more money versus having their money tied up in their rental properties. For others, like me, I purchase the house at a low enough price that having a fast pay off period is a lot shorter time frame than most investors, so I choose to pay off my properties as soon as possible. Remember, other investors with higher priced investments take 10-20 years to pay them off, and it can take me 2-4, which is significant if your time is of value. If I were ever to become laid off or unemployed, that’s when I would take the income as something to supplement my lifestyle until I either get another job, or until this blog takes off 🙂
This is part of the savvy business strategy you can take advantage of for buying affordable real estate investment properties and how you can pay your mortgage off so much faster because of the affordable price tag.
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