Starting rental property portfolio with 100% equity in one rental property

[Brian T. Grooms]

Hi all,

I am new to biggerpockets and eager to start building a portfolio of rental properties. I currently already own one rental property free and clear. So far with my one property, I have had a great property manager with no more than 2 weeks of vacancies in the last 4 years. Maintenence throughout the last 4 years has been reasonable. My plan is to start buying properties through auctions/foreclosures or anyway that allows me to buy below current market prices and have positive cash flow properties. I know these properties may not be easy to find but I want to be ready to pounce when I come across the right buy.

My questions is this: How do I leverage my current 100% equity in my only rental property? I plan on aggressively building my portfolio from the ground up purely from the equity in the property I currently already own. I inherited the home I am renting now and do not have much experience with mortgages and/or bank lines of credit. I know I am in a very advantageous starting position and want to maximize it... I have been looking at Home Equity Lines of Credit (HELOCs) mostly. What advice do experienced biggerpockets members have for me?

Your advice is much appreciated.