advice to refinance or not to refinance

[Orlando Samayoa]

So I own a property only owe 54k to finish paying it off property is worth 350 was trying to see if I refinance or take a HELOC not sure what would be the best to take out some money so I may be able to purchase another property anyone have any tips or advice.

[Brad Gibson]

The other property you are looking to purchase a buy and hold or flip? My experience with HELOC's is they have a higher interest rate but convenient being able to take what you need with little to no notice and pay it back whenever. So in my opinion they are more suitable to Flips. For a buy and hold I would go with the Cash Out Refi because you will likely get a much lower interest rate. If you are focusing on the Buy and Hold also check out Brandon Turners "BRRR Strategy"