HELOC For Down Payment + Using Cash Out Refinance to Pay it Off?

[Stephanie Wells]

Looking to either HELOC or COR on a duplex I have to get some cash to use as a down payment for another investment property. Although we'd get more cash from the COR (about 160K) the fees are insane, and I'm not sure if we will be able to beat out cash buyers in our market so who knows how long we will be sitting on our cash if we go the COR route. Does it make sense to get a HELOC first (100K max, 5 years at 5%), use that 100K (or less) as a down payment for a multi-family...Then do a COR on the duplex to pay off the HELOC + have some extra cash leftover to buy another property or pay down debt? Do you have to wait a certain amount of time to take out a COR when you have taken out a HELOC on the same property? Fees for paying down the HELOC early? My head is spinning over here.