What should I do with my equity?

[Jose Marquez]

So my wife and I are ready for our second multi-family property but are not sure how to approach it. We own a 2 unit building that has about 75k worth of equity. Should we refinance and pull out the equity for our down payment? Or use our savings?

[Chris T.]

@Jose Marquez

It depends on your goals. If you're looking to leverage more by drawing from your equity, @Michael Barbari might be able to assist you.

Refinance is an option but keep in mind the extra costs you will have to pay. And the rate on your new loan vs present one - if it's worthwhile. 

For some investors, it's all about deleveraging and paying off loans. 

[Michael Barbari]

@Jose Marquez PM/ Request sent. Thanks @Chris T.

[Raul Urdiales]

I'm looking for a HELOC or HEL, not 100% sure at this time but my idea is to purchase a foreclosure (49k), fix up (approx 20-25k) then sell (100-110k). Soon as house is sold, repay HELOC or HEL in full. Sounds too easy though. Thoughts/advice.