What's better Refinancing or a HELOC?

[Ceasar Ancheta]

Newbie here. I live in California and have a house in San Antonio that I bought in 1998 when I was in the military. It's been a rental since 1999 and paid it off a few months ago. I want to use the equity on to purchase additional properties. Should I refinance or try to get a HELOC?

[Jon Crosby]

Great question @Ceasar Ancheta!  

Assuming you can get a low enough HELOC rate on it, I would personally explore using the HELOC as a revolving line of credit as it has more flexibility than a refinance would. You wouldn't pay any interest until you actually use it and if you decide to do a BRRRR strategy you could possible keep 'going to the well' with it to acquire more and more properties.

Best of luck!