Cashout-refi vs HELOC vs Home Equity Loan
Hey board,
Currently own 2 properties, primary and rental. Both were bought with all-cash because I wanted to close quick and avoid banks as much as possible.
Now I'd like to start leveraging my future investments and I know I've got a lot of dead funds just sitting, earning $0, in these properties as equity.
My question is which of the 3 (more?) options above, would be most advantageous for me.
Ideally I'd like to pay for new investments with 20-30% down from funds from the equity in current properties and finance balance. Then pull out new equity and repeat. This way I won't need to touch any new funds and keep churning old funds into new investments.
Does this sound feasible? I look forward to opinions/criticisms and comments.