New with questions

I need to learn more about financing options. I have 3 properties right now. Two are rentals and one was a rehab and is back on the market. To finance these properites I have used low interest rate (4%) credit cards and my HELOC on my current home (7%). My bank required 20% down on each property plus I paid $20K out of the above for the rehab. I have pretty much used up all my available capital and am paying a ton in montly payments to pay for this debt. My loans are 2 year arms at good rates (4.75% and 5.25% currently). I have tenants in my two rental properties - their rents cover the mortgage but does not fully cover the rest of the payments required to pay on all the loans I have taken out to cover the other 20% on each. Basically my hands are tied until I sell the rehab property - any ideas on how to reorganize my debt or refinance so that I don’t have to have 20% tied up in each home. One rental was an REO and I got it below market value and was wondering if I should just get it appraised and try to refinance. I would appreciate any suggestions or ideas.

Hey how are you?

I sent you a PM.

You can definitely refinance to take some cash out of these properties, but I can promise you that 4.75 and 5.25 no longer exists for 2nd home or investments. You should definitely apply with a lender who can discuss your options with you. I don’t know how much lower you can get your monthly obligations, but you should definitely look into your options. If monthly cash flow is the concern you will probably want to look into option ARM loans since you have equity in the homes already. Let me know if you have more questions.