Cash out refinance or HELOC?
Hello BP members. I've got a property valued at $90,000. I borrowed $70,000 cash to buy and rehab the property. Short term loan from friend. Now I need to pay the 70k back. My goal is to continue doing this a few times until I don't have to borrow cash anymore and can use my own funds or line of credit.
I will be renting this property out. Thoughts on doing a cash out refinance, HELOC or home equity loan or other creative strategies? Pros/cons of each?
