Newsflash: Duplexing, and The Long Game. Check My Strategy? (Ontario, Canada)

I require access to approx. $20k to pay for permits and to complete the work.The near goal is to cash in on some of the equity (It’ll give me around $250K equity) to purchase another income property. The two obvious options I see for that 20k is a) access my line of credit (not heloc) at prime +1.  OR b) cash out refinance the home. However I pay for it, it seems like a win. But does it make more sense to use the line of credit, even if it’s more expensive? My thinking is that when I cash-out-refi, the home will be a duplex and worth even more?Is there something obvious I’m missing?

Read more at https://www.reddit.com/r/RealEstate/comments/6mo19d/duplexing_and_the_long_game_check_my_strategy/?utm_source=ifttt

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