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Updated over 4 years ago on . Most recent reply
HELOC Hiccup... what’s next?
Hi all!
I am new to the world of real estate investing and so far I have been very fortunate with my first investment. I bought a duplex, that I completely renovated and now I live in one side and air bnb the other. I recently refinanced and it appraised for about $70k more than what I bought it for. I am wanting to pay off some of the renovation costs and begin the process of getting another property.
I applied for the HELOC but it didn't come back nearly as much as I was hoping for. Im really needing to pay off some of these renovation costs before the interest increases. Should I look at personal loans? Credit unions? So, here I am seeking advice from all you lovely people. Any advice will be greatly appreciated!
Thank you!