Looking for some guidance

[Amir Eghbali]

Just picked up a property for $170,000. Put about 45,000 into the rehab. I put 25% down about (50k) @ 8.1 interest rate. New ARV is about 265k, property is going to be rented shortly and should cash flow about 900 a month cash flow.

My question is, should I cash out refinance or do a HELOC or line of credit for my next project?

[Amir Eghbali]

Quote from @Amir Eghbali:

Just picked up a property for $170,000. Put about 45,000 into the rehab. I put 25% down about (50k) @ 8.1 interest rate. New ARV is about 265k, property is going to be rented shortly and should cash flow about 900 a month cash flow.

My question is, should I cash out refinance or do a HELOC or line of credit for my next project?

Thanks for quick reply, to be honest I haven't looked into details of rate etc. My general question is when people look to pull cash out do they prefer HELOC or cash out refinance? What are pros and cons. My current monthly mortgage/taxes/insurance at 8.1% is $1,430. Will be getting $2400 a month for rent.