What’s the Best Order?

[Christine Smith]

Hello, so we're looking to do our second investment property out of state in AZ after house hacking with FHA loan in Southern California for the past several years. Our current LTV is sitting right around 75%.

If we can find one, we're looking to do a HELOC and possibly a FHA 203k for an AZ property.

My question is: what is the right order of getting things ready? Apply for HELOC first? Apply for financing first? If 203k, do we need to refinance our current home before we apply? What steps am I forgetting?

I know HELOCs can be hard to come by right now. We are not in a rush. If we have to wait a few months that’s fine. 

Thank you!