All Forum Posts by: Samuel Reznikoff

I'm no financial analyst but remember the draw for a HELOC can be negotiated, mine being 10 years in this instance. I bumped it from 5 by just a few short sentences, 15 would add 1%. BUT, that also means anything I start spending on now during my draw period, I'm betting on rates being realistic 10 years down the line, not foreseeable future.

Each have risk appetite that is different, but don't let banks talk you into the shortest draw, you always always ALWAYS have options :) 

I'm actually in the same position as you! I'm in the process of Refinancing down my first House Hack from 4.6% to 3.2, and the appreciation means I can grab an additional 15-20k out of the deal. However, reaching out to my credit union I was told I'd also qualify for a 40,000 dollar line of credit! Decisions decisions. The decision came down to your current capital. I'm small with only 2 properties and 20k cash to my name at this time . I opted for the line. That way, I can have almost 60,000 at my disposal to hop on a deal vs 35k.

How impact will the cash in hand be vs the access to potentially more capital in your scenario?