Cash Out Refi Question

[Stephanie Gledhill]

I have $300k of equity in a SFR rental in Franklin,TN

I am at the end of a refi on it at 3.125% no fees. (Great rate)

I would like to buy another property in the future, however, it's so hard to find one right now. Broker says it's too late to do a cash out refi.

1) Would you get the cash out now even though I have nowhere to park it and will be paying interest on the larger loan amount. My future plans are to need it for another investment. If I am going to refi later to pull out cash, it doesn't make sense bc I have a 2 yr payback on this refi or

2) Get a Heloc on my home residence to use for another property/investment once I find it? I don't like the concept of using my personal residence for investments, I'd like to keep it separate. I know it doesn't really make sense bc it's all the same pot. Or

3) any other options?

Any advice is appreciated!! Thank you in advance.