How to finance first STR deal?

[Christina P.]

Hi, we are newbies and hope to get pre-approved soon for our first STR deal. Trying to wrap our heads around the best way to approach financing. Should we pull cash from our current stock/mutual funds (based on current market prices we're estimating we'd pull out ~10-15% of our current investments) or would it be better to do a cash out refi or HELOC on our primary residence? We've been in our primary residence (current mortgage rate 4.25%) for 6 years and will likely be looking for a new primary in the next 3. Thanks so much for helping us understand.

[Christina P.]

@Alex Roter That's very helpful, thank you! I think I am understanding the HELOC much better now.

We live in NY.