Best way to get $ from prop - mortgage vs heloc vs home equity

[Shelby Ryan]

Hi, we have a vaca property owned free and clear. Valued at low $200k. What's the best way to get money out of it? I believe interest accrues daily on mortgages, HELOCS and lines of credit so that may not be the best deciding factor. Not sure if costs vary greatly on these products in order to close. The goal would be to pull around $100k out to invest in another RE venture and continue renting the property to pay the expenses. Also, we currently hold in our individual names and are researching NH/Mass attorneys to put this and others into LLC(s) so not sure if timing is consideration. Any insight on this one? Much appreciated.