Seeking advice on HELOC or cash out refinance
My wife and I are buy/hold and would like to add to our single family rentals. Here is our current situation:
Rental 1 has a loan balance of about $50k and would probably appraise around $120k
Rental 2 has close to the same numbers
Rental 3 has a balance of $90k and about $150k value
Our primary has a balance of $180k and is being refinanced this month and should appraise around $250k
We have never done a HELOC or cash out refinance, but we'd like to start being more aggressive and put some equity to work. We appreciate any input. Thank you.