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Updated over 7 years ago on . Most recent reply

Darrell Smith's profile image
Darrell Smith's profile image
Darrell Smith
  • Rental Property Investor
  • from Pembroke Pines, FL
  • Member since May 25, 2018

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Darrell Smith's profile image
Darrell Smith's profile image
Darrell Smith
  • Rental Property Investor
  • from Pembroke Pines, FL
  • Member since May 25, 2018
Darrell Smith
  • Rental Property Investor
  • Pembroke Pines, FL
2
Votes |
7
Posts
Personal Finance

Refinancing vs heloc for HML payoff

Darrell Smith
  • Rental Property Investor
  • Pembroke Pines, FL
Posted
Hi I have a question about a HML that I obtained for a sIngle famIly investment, should I use a refinance to payoff loan or is it possible to get a heloc to payoff ,the loan from HML is for 75k ,property appraised at 196k .
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Thomas S.'s profile image
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Thomas S.

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Thomas S.
Thomas S.#2 General Landlording & Rental Properties Contributor
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Thomas S.#2 General Landlording & Rental Properties Contributor
Replied

Refinance and pull out your dead equity asap. The opportunity value of your dead equity is eating all your cash flow and turning your investment into a liability.

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