I need some assistance , Not sure what to do, need money from my equity

[Tom Server]

I’m looking for advice on the best way to access about $100k to pay off my 401k loan, credit card debt, and cover some rehab costs.
Here the information-  I purchased 2 properties last year, 1 is a rental property that i had for about 8 months, the balance of the mortage is 170k, worth around 300k . The second is a rehab property that I purchased for myself, I purchased it out right for 100k. Money came from 50k of savings and 50k borrowed from a 401k account that I am paying myself back in 5 years with a payment of 1000 a month.  With this property I racked up some credit card debt, around 20k and I need another 20k to pay contractors/supplies. The property will be worth 220 when complete. I’m considering doing a cash-out refinance, not sure what the best options is , to use the rental property or the rehab property. Dont know where to start any suggestions will be great thank you

[Nathan Gesner]

Pulling equity out of a property is another form of loan. You have to borrow your equity and then make payments on it. With today's high interest rates, it usually doesn't make sense. You would borrow against the equity at 7% or more, then use the money to pay off a credit card? It would be better to open a new card with 0% interest on balance transfers, move your debt to that card, then pay it off like a mad man before interest is charged.

Your scenario indicates you aren't financially disciplined. I would consider selling one of the properties, paying off the debt, creating a reserve for your remaining investment, and ensuring you are 100% financially stable before you invest again.