Refinance or Heloc or what?

Question

Hello all, I am Sharita Scott from Orlando Florida area.  I stumbled upon this site last night and have not been able to stop reading.  I say that we are an old investors because we have had two rentals for about 11 years.  On the other hand, we are new because I don't feel like we have a clue about what we are doing.  I am sure that we have made plenty of mistakes along the way.  I would love to grow our portfolio ( saying portfolio sounds cool, not sure it really appiles if you only have two investments). I am looking forward to being able to share my experiences and gain some much needed knowledge.

John Verduzco · Answer

based on the title of the post, I assume you are trying to assess best path forward in drawing equity from your 2 rentals? Refi vs HELOC is always a nice question to ask, and you'll get lots of help here.  Heck, throw in one more option and maybe you consider Refi vs HELOC vs Sell.  No right answer, just depends on your situation, the RE market and lending market.

John Kent · Answer

@Sharita Scott welcome to the Bigger Pockets community. I will PM you a nice little resource for Florida landlords.

Alex Shaughnessy · Answer

Youre definitely in the right place. And you already have more in your "portfolio" than probably half the members on the site. Welcome

Kaynea Bingham · Answer

Welcome to Bigger Pockets @Sharita Scott!  Bigger Pockets have so many resources that you will find useful.  I recommend you check out the free podcast.  They are great tools, with examples of other people like you investing in real estate and making great income.  Let me us know what goals you want to reach in building your real estate portfolio.

Kay