No. of Recommendations: 1
All of your details considered... pulling HELOC money, or even a small cashout refi 1st plus HELOC, on your existing place, will be cheaper, easier, less red tape & hurdles, and give you more control along the way.

Construction financing is easier and cheaper (if you need it at all) the more established & certain the building plans.

In a perfect world, if you could draw equity funds from the old property to acquire & develop the new property, then sell the old place to satisfy the leverage & be in a low overhead, fully developed, owner-occupied position to decide how you want to position your equity thereafter.

Dave Donhoff
Leverage Planner
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