Considering refinancing if rates become more attractive or I need the cash out for something.

So basically if I’m understanding you correctly, your saying a way I could potentially use my equity is as the down payment on a BRRRR as long as it’s ARV was large enough to get my HELOC money back after refinancing?

Salvaging it means putting in a bunch more money either by recasting or refinancing with an additional 50k invested or putting the extra cash every month.

I am thinking about making an offer of about 70,000 with a contingency of owner finance for the first 18 months with a balloon for refinancing later.

Looking into cash-out refinancing and DSCR loans and all of that but I'm getting ahead of myself as I don't even have the 1 yet lol.Nobody in my family has any experience with this sort of thing so I'm just hoping someone can give me their opinion on if this investment makes sense.The home is currently being rented for 2900 total (all tenants are month to month and have been there about a year each) and my monthly costs would be 1,200 included taxes, insurance, mortgage etc.I am considering putting the home on section 8 because the fair market rent would make my monthly rent 4k+ but I'm weighing the pros and cons on that avenue.From what I understand the biggest costs to me as a home owner would be a new roof or fixing the pipes for any reason..

Despite the possibility of higher interest rates, they can have more accommodating qualifying requirements.If you currently own homes with a sizable amount of equity, you may be able to get funds for your down payment through a cash-out refinancing or a home equity line of credit (HELOC).

Reduce monthly payments by refinancing loans or concentrating on paying off high-interest obligations.Look into ways to boost the rental revenue from the homes you currently own.

In my opinion, buying homes all cash with no intentions of refinancing them isn't the way to go.

It may still be worth considering investing in properties with lower returns in the current market, as building equity, taking advantage of tax benefits, and potentially refinancing later could offset the lower cash on cash return.

Then when it is complete, have property appraised and refinanced to pay back the hard loan from my Mother or other lender and because I overfunded, receive cashback at closing and either pay back into the new loan or wait for another deal once I get renter in on this place with me.My hiccups will be my income to qualify for the new loan, and the fact that I have an existing mortgage which affects my DTI right out the gate.