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Updated over 5 years ago on . Most recent reply

Katherine Pirkle's profile image
Katherine Pirkle's profile image
Katherine Pirkle
  • Rental Property Investor
  • from San Antonio, TX
  • Member since Aug 23, 2019
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Katherine Pirkle's profile image
Katherine Pirkle's profile image
Katherine Pirkle
  • Rental Property Investor
  • from San Antonio, TX
  • Member since Aug 23, 2019
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Katherine Pirkle
  • Rental Property Investor
  • San Antonio, TX
1
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Personal Finance

I have a rental w/33k equity. Refinance to pay 20k credit debt?

Katherine Pirkle
  • Rental Property Investor
  • San Antonio, TX
Posted

I am just getting started in reale estate. I have a primary residence and a rental property (33k equity two years after purchase). Unfortunately, I have 20k in credit card debt. Should I refinance to take out cash to pay down the credit debt? HELOC?

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Craig Jeppesen's profile image
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Craig Jeppesen
  • Rental Property Investor
  • from Chubbuck, ID
  • Member since Oct 12, 2018
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Craig Jeppesen's profile image
Craig Jeppesen's profile image
Craig Jeppesen
  • Rental Property Investor
  • from Chubbuck, ID
  • Member since Oct 12, 2018
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
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Craig Jeppesen
  • Rental Property Investor
  • Chubbuck, ID
Replied

Doesn’t look like you have enough equity to refinance. Just pay off the cc.

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