72: Rookie Reply: Cash Out Refinances vs HELOCs | Which Should You Use?
This week’s question comes from Ricky on the Real Estate Rookie Facebook Group. Ricky is asking about the pros and cons of using a cash out refinance vs. using a HELOC (home equity line of credit), especially since you can pay down a HELOC and use it over and over again.
Many real estate investors take advantage of HELOCs since you can get them for your primary residence or a rental property. That being said, HELOCs can come with variable interest rates and can be closed once up for renewal.
Here are some points to consider:
If you want Ashley and Tony to answer a real estate question, you can post in the Real Estate Rookie Facebook Group! Or, call us at the Rookie Request Line (1-888-5-ROOKIE).
Check the full show notes here: http://biggerpockets.com/rookie72
Learn more about your ad choices. Visit megaphone.fm/adchoices
Create your
podcast in
minutes
It is Free