New to brrrr increasing interest blowing up my #s for refi

[Ryan Havens]

Ok so I did my first brrr - 2 r left.... Ok so I used a HELOC from my CA home interest rate 5.9 ten year for down and rehab. So I purchased and rehabbed with all bank's money. 30 fixed 5.5 / HELOC 5.9 -10year. I have learned a lot, experience is not cheap..

. So this is where I'm at, with both loans I actually loosing about $100 a month. Because it the 10 years HELOC. The home is rented out and my intentions was to refinance to a 30 after seasoning. At the time with interest rates I was going to be @ 0.9 one the 1% rule. Yes not good but I'm have learned a lot what to look for on the next.

well interest rates as you all know are increasing rapidly so it's blowing my #s up. 

so my question is do I just keep paying the 10 HELOC loosing $100@ my current balance or do I refi in 2 months pay closing costs and maybe brake even.

im voting for paying down the HELOC.

thanks so much

oh yeah

i I'm into the property 145k

arv Zillow probably not accurate 179-199k 

thanks all