HELOC or Cash Out Refi? Free up cash for next deal

[Jennifer Walsh]

I own a rental property free and clear. Do I get a HELOC or Cash Out Refi?

I plan on doing another deal, not sure what just yet, interested in BRRRR or STR. I like the idea of a HELOC so Im not paying unnecessary interest on a bank note while Im looking for my next property. However, having a loan locked in also has its benefits.

Help! I'm a newer investor and unsure what makes the most sense right now. Thank you!