Hi. New member here. Been reading MMM for a couple of months and just got the wife on board. Here's our dilemma.
We currently save about $2500 per month after all bills paid (this includes wife and I working as well as rental profit from 4 rental houses). Currently sitting on $50,000 ready for investment SOMEWHERE.
Home mortgage balance $230k at 4.25%
Rental 1 mortgage balance $50,048 at 6.250% and provides $3,013 annual profit
Rental 2 mortgage balance $44,907 at 4.625% and provides $5,982 annual profit
Rental 3 mortgage balance $67,641 at 5.250% and provides $6,602 annual profit
Rental 4 mortgage balance $74,905 at 4.000% and provides $5,917 annual profit
Option 1: We could throw extra money at home mortgage and pay it off in 5 years or so
Option 2: We could throw extra money at each rental until paid off to increase cash flow.
Option 3: We could purchase another rental to increase cash flow. It would likely provide $5k - $6k per year.
Option 4: We could begin putting money into Vanguard index fund.
I can't decide what's the best return for my mone/best way to get us retired ASAP.
Any help or advice from the experts around here are welcome!