Home Equity Line of Credit

[Josh Levy]

Hi Bigger Pockets community!

My first post here since signing up. :-)

I am in the middle of purchasing equity in a business that I am active in. We recently closed on our primary residence in April. This is our 4th fixer where we live in it and rehab it ourselves (for the most part). Currently, this fixer is in the location we desire long term and may stay here for a while. Currently, our monthly cash flow is tight, but we would like to continue the renovations. There is about $50-$60k left in renovations to complete. We were looking into a HELOC at logix bank which offers 12 months at 2.99% and then 5.24% (variable) for 15 years. It would add strain to our monthly cashflow, but could be doable. Any thoughts on this or other recommendations??

Thank you!