Understanding BRRRR Better with a HELOC and Cash

[John McLaughlin]

I have a question about BRRRR and how I can apply it to what I have. I bought an investment property 4 years ago which is cash flowing, but a conventional loan (which I am now learning could have been done better). I have saved up 50k to invest again and planning to get a HELOC on the investment property hopefully around 50-70k.

My main question has become is it smarter to use the cash to buy a BRRR and us the HELOC if needed for the rehab or find another way? I feel like that is too simple of an answer.

My other question I have is the cash out part of the refinancing process. Are you taking the cash to place back into the bank or using it to pay something off? Like in my example above use it for the HELOC and the rest into the bank?

Thank you in advance. If something I should all ready know because of a book please forward that information to me.