Options for funding a rehab

[Andy Kornacki]

Hello,

Me and my family will be acquiring a condo from my grandparents who are getting too old to use it anymore that will be used personally and as a vacation rental on AirBnB/Vrbo.

We are looking to rehab the place to get it up to date and are trying to figure out how to fund the renovations.

I know traditionally using the BRRRR method you can cash out refi after a new appraisal to turn around and pay off the rehab loans but we do not have a mortgage on the condo so I don't think that is an option?

Would a HELOC or HE Loan be something to look into?

Still in college, this is my first experience into RE investing, very excited and would like any advice or feedback. Thanks!