Best refinancing loan

[Felicia Otoo]

I am new to real estate investing and currently own 2 condos and a three family home. I’m looking to scale my business and trying to figure out the best way to do this.

Both condos were purchased in the last couple years and I’m considering cash out refi to fund my next purchase.

My most recent condo carries a rate of 7.99 fixed with about  90k equity

the other carries a rate of 4.75 ARM with 80k equity
The 3-plex has a rate of 3.45 fixed, over 250k in equity. 

1. Should I refi all 3 properties 

2. Should I refii just the condos 

3. Should I put heloc on the 3-plex due to the current low rate and use the cash to BRRR?

4. What questions should I ask my lenders  to know who is giving me better term and cost besides looking at interest rate.

[Samuel Eddinger]

@Felicia Otoo - I'm a CT based investor.  I'd be happy to have a conversation.  DM me if you are interested.

I love the use of HELOC (when you can). The money is available for you when you need it but you don't have to pay interest on it when you don't. If you can pull the equity out of the 3 plex with the HELOC, that's where I would start. I think you could cash out refinance your condo with $90k equity since you would also get the benefit of a lower interest rate loan.

Until I explored those two options, I wouldn't do anything with the last option.

Good luck on your adventure!