If you had 150k what would you do?

[Nick Causa]

I'll try to make this short: my wife and I own a duplex that we did a live in BRRR (got the refi at 3.5%) and had owned an airbnb that we operated for 6 years but sold because the town decided to do away with them (very nice of them). So we've been doing this RE thing for some time but I still consider myself a newb.

My question is: we have an unused HELOC for 150k but the rate is 10% (harsh). I'd love to get back into a project but i have to say the market is rough right now as i'm sure you all agree. My thoughts were to find something to buy for cash and flip it so we dont have to deal with banks and REFI'ing into a horrendous rate. The problem is finding something under $150k to then use the extra funds for a reno is quite rare.

Also, we’re certainly outgrowing our duplex unit as we’re a growing family so finding something larger to move into wouldnt be too bad. Was thinking rent out our unit, do another another live in flip, live there for 2 years to avoid the tax hit, then sell it….

Anyone have any creative suggestions? Or should we just sit and save and not use the HELOC for a project? Not the worst alternative.

Thanks in advance