HELOC , Home equity, or refinance advice
Hello,
I am looking for input on the best way to finance my next rental property.
I currently own 2 rentals; one with 20% down ($45k) and the other with 25% down ($50k)...both properties have a conventional mortgage for the remaining value ($105k and $150k). My primary residence had a downpayment of $58k with a mortgage of 230k which is now down to around $215k.
I do not have any additional funds available in order to make a downpayment on another investment property, but I am looking to move forward and purchase more units as soon as possible. I researched HELOC, home equity loans, and cash out refinance, but I am fairly new to this and I'm not sure which option is best in my situation.
What do you recommend? Any input would be appreciated!
Spencer