Would you pay off PR or Rental first?

[Joe M.]

OK for those of you that only have a handful (or 1) rental and a personal residence, which would you pay off first and why?

A couple assumptions-

-You have a lower pay off amount and a higher interest rate on your a rental.  You would have a lower rate on your PR, but would save a lot more with a paid off PR.

-You are going to be at your PR for a while.

-You have your comfort level of liquidity after paid off, as well as being comfortable with your amount of rentals and money in the market. 

So which would you pay off first and why?  What is your thinking?

(Also, this is a hypothetical.  I know I can leverage up to buy more assets. I get it)

[Kevin Sobilo]

@Joe M., this sounds like more of a personal finance question than a real estate investment question.

I would pay off the primary residence. That gives you the most relief on your personal finances month to month. Also, your mortgage interest on your rental will still listed on your Schedule E and be deductible whereas if you paid off your rental mortgage the interest on your personal residence might not be if you aren't over the standard deduction.

BTW. I grew up about 45 minutes or so from Erie!