Refi or heloc

[Chad Chapman]

We have a rental that we finished the remodel on. I was going to refi it but I like the idea of the heloc for a fast cash if needed. I'm torn in what to do and want to hear what some others have done when faced with this situation. No matter what I have to get 50k to pay off the hard money we used for the purchase and rehab. 

[Derek Brickley]

Hey Chad,

Depends if you want/are able to do full documentation lending or need property based options (like DSCR). If you are able to work with full documentation programs, that refi would likely be the absolute quickest way (a couple of weeks) where HELOCs might take 3-4 weeks. Also depends how long ago you purchased the property so a few details there to work through but feel free to reach out if it's helpful to look at those.