Advice on my current situation

[Chaits J.]

Dear All,

I need advice on my current situation from financial experts in this forum. I am buying a condo for all cash deal and need 80K cash investment for the same. I have couple of options to pull required cash.

i) Cash out refinance out of my townhome rental: I am currently on a 2.5% - 15 years rate(11 years left on loan) and a very minimal cash flow. If i do a cash out refinance, i will get required cash out for condo purchase and will have a decent cash flow out of town home as well. Downside being starting a new 30 year loan on townhome.

ii) Or just do a HELOC/find other financing means for interest and keep paying monthly installments with new cash flow from the condo.

Thansk!