BRRR Question

[Laura Costello]

Hello BP,

I have just finished the rehab and have my tenants moving in next week for my second BRRR property. Moving on to the refinance step and am wondering if it is better to completely refinance and cash out (did this the last time) or to create a heloc?

Please let me know your thoughts and experience, thank you.

Laura

[Larry Turowski]

@Laura Costello You leave lots of details out--like interest rate, term, closing costs, what you are going to do with the money, etc.

I'm guessing since this is your second BRRR, you plan to do a third and fourth and so on. That means you need all the money from the refi for the entire duration, not just intermittently. Do a full refi.