HELOC on Primary Residence

[Nicholas Dillon]

Hello All,

I have around $200k in equity in my primary home. I own 2 other rental properties. I have a pretty large emergency fund in place for those properties, but I wonder if that capital could be better employed elsewhere (potentially acquire another property). At one point I talked to my financially advisor and he said that it would be smart for me to open a HELOC on the property, but not draw from it, except in the case of emergencies. What do you guys think about this strategy of opening up a HELOC in hopes of freeing up some of my other capital. Does this make sense? Thanks all of you guys for the assistance. Great community to bounce ideas off of as I build my knowledge base.