Financing troubles on a rental property

[Nick Proffer]

I would like to learn from someone with experience preferably in the lending department. I am having troubles on figuring out how to effectively execute a HELOC strategy for house repairs and for future investing. heres My thoughts Current situation: have an excellent rate on a mortgage at 3.625%. However I believe I’m paying mortgage insurance so my payment is around $1050, can possibly rent it out for 1200-1300 plus utilities. Brandon from BP mentions hardmoney loans for rehabs, also mentions credit cards, (I currently have put some repairs on a credit card that has 0% interest until Sept 2019). Estimate ARV: 235,000 with the possibility 300,000+ (with forcing value by adding kitchen and bath to mother-in-law suite in detached garage.) Currently owe $148,500 @ 3.625% 25year IIan Not sure how to move forward with repairs. Get HELOC, use for repairs, but then will have interest only adding on to the already high payment of $1050 Or Put repairs on the credit cards, min payment could be similar to a HELOC, and then refinance after repairs into possibly a 30year loan, pay off the credit cards before the high utilization’s destroys my credit score, rent it out for possible cash flow of $3-500, wait the 6-12 month seasoning period and then get the HELOC? Just so confused on how to implement a good strategy to turn my current house into a rental and utilize the equity via HELOC to possibly purchase another investment property. Any help is greatly appreciated thank you!