HELOC or CO Re-Fi or Loan Shark?

[Andrew Liu]

Hi guys!

I've paid off my home that is now worth $530K - I want to use the equity I've accumulated to purchase an investment property (multi-family or small apartment in the LA area).

1. What is the best way I can maximize this opportunity?

2. Should I take a HELOC or Cash Out Re-fi? or are there any other options that are best suited for my goal?

3. How are the payments like for a HELOC or Cash Out Re-Fi? are they lower since the property I own is paid off? Would it be wise to roll these payments into my investment property so it makes sense to do?

I really appreciate the help here!