Cash out refi or line of credit?

[Aaron Sardinha]

Looking to use the equity in our 7 unit to build our portfolio. We own it free and clear. It’s located near Bangor Maine. I believe it’s worth between 250-300K. Looking to get between 150-200K.

Would it be better to get a line of credit or cash out refi?

[Ryan Murdock]

@Aaron Sardinha Probably depends on what your goal is. I'd go line of credit if I just needed quick, temporary access to funds in order to buy value add properties with the intent of fixing them up and refinancing them with longer term debt (BRRRR).

If you're looking for pull the cash out and keep it out, either to invest in more turnkey properties or finally grab that Lamborghini you always wanted, I'd do a full cash out refi.