If you are able to get a property that is a "deal" (deal is relative) and are able to add value (fix deferred maintenance, renovate bathrooms or kitchen), you may set yourself up for forced appreciation which you can then use (via sale, refinancing, HELOC) to purchase another property.

Have they considered refinancing rather than a HELOC?

The house is now worth approximately $350,000 after slight renovations and market appreciation.Rates have dropped substantially in the past year, and I’m curious if I should refinance to a 3.5% (lowest rate without buying points) and add the closing costs to the loan balance, ($13,000 or so) making my new total $335,000 and dropping my monthly payment $140.The numbers make sense for cash flow, but not if I were to sell the property within the next few years due to paying the VA loan fee, and the Closing costs due to refinancing. 

I'm a newbie and the other day I was on the phone with a mortgage broker and when I asked him about rehabbing and refinancing he told me it wasn't a smart move.

The owner refinanced and still has about $59k left on it (I have no clue why).

There is a mad dash right now on the refinancing process

In the process to refinancing as in “VA IRRRL” to take advantage of lower rate in addition to removing the owners primary residence stipulation.

Hi BP Community,Has anybody cashout refinanced a home that was bought using traditional financing?

Interest rates have lowered again and I personally refinanced my home and cashed out 20k in equity after 1 year of buying one of my properties.

Refinancing puts your own house at risk, as you might know.That said, over the past 15 years of investing, we have regularly occupied houses with the intent of pulling money out of later.