Updated over 6 years ago on . Most recent reply
HELOC and Cashout Refi SIMUTANIOUSLY
Hi guys...I'm not sure if this a credit question or a real estate question but I was wondering if it's a good move to pursue a HELOC and a cash out refinance at the same time?
I'm in the process of doing a cash out refinance on one of my rental properties. The purpose of the cash out is to use the cash to buy more properties (BRRRR) but I can only take out $15k....in your experience is that enough to BRRRR?
If $15k is not enough to BRRRR then I would need to do a HELOC on another rental property also.....So that's where my question comes in.
Should I wait to close on the refinance before I start the HELOC?
Is it ok to get both processes going at the same time?