Pro's and Con's of a Home Equity Loan, HELOC, etc.

[Daniel Haley]

Hello All,

I am new to this site although I've been listening to the podcast for a little now. I currently own a property which is completely paid off, no mortgage. My parents currently live there so I am making no $$$. I actually still help them out every month with things they need. 

I am considering a Home Equity Loan, HELOC, or some other product that I may not know about to purchase another rental property. You could say that I've been fairly adverse to just about ANY risk in the past, however, I'm stepping outside of that bubble and believe I'm ready to invest.

Any and all thoughts will be greatly appreciated! 

- Daniel