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Updated almost 5 years ago,
Cash out refinance and/or HELOC to fund first BRRRR method prop
We're looking to purchase our 1st investment property using the BRRR method.
We have our Primary home that has about 250K in equity at 4.25% 30yr fixed FHA.
In your opinion, do you suggest refinancing the primary and pulling out enough funds to finance a down payment plus rehab cost for a single family where purchase is around $100k - $200k for A single family without a HELOC? Pull out max amount without HELOC?
Or
Would you recommend doing a cash out refi along with HELOC? If so, how do you determine how much of each to take out?
Of course if you have any other ideas with this scenario, please share. Thanks for your feedback in advance. Good luck to everyone!