What to pay off early?

[alphanumericone]

Other than 2 mortgages I'm debt free.

I have 2 properties, each with a single mortgage on it.

Property 1 (rental property):
30 year fixed, balance of $191k @ 5.25% valued at $295k. (25 years remaining)

Property 2 (primary residence):
30 year fixed, balance of $319k @ 4.875% valued at $350k. (29 years remaining)

My question is now that I am debt free, fully contributing to 401k and Roth IRA, and have a 6 month emergency fund, which of the mortgages should I be paying off 1st?

[frugalwarrior2]

Your rates are good but could you afford to make high enough payments that you could payoff one in 15 years. I would at least find out what that paynet would be so I could pay that amt in extra principle. crownministriesfinancial.com is free. Go under debt accelerator under calculators.

[Greebo]

The Dave answer:
Your house first. Between the two, if you have to lose one, lose the rental first.

The Greebo answer:
We run our rental properties like a business. We use our household income to fund BS6 for our house. We use the profits from our rental income (which are kept in a completely separate account) to pay down our rental. We keep a 5 month reserve in our business account just for the rental business, and everything over that goes to that mortgage.

Once the rental is paid off, we'll save up all we can and pay cash for the next one.

I also divide my BS4 allocations 50/50 between IRAs and our real estate, so half of my retirement fund is going to pay off our rental property, because once it is paid off, our rental property will go from netting $400/month to netting $1,100 a month. That's one heck of a good retirement return IMO.