Cash poor, real estate rich

[Lisa Sluss]

I own two properties free and clear, with a total value of $750,000. I live in one and rent out the other. I've been turned down for a HELOC by three different lenders (Penfed, US Bank, and Wells Fargo) all because I have a very low debt-to-income ratio. I don't know what to do. I hate thinking about that equity just sitting there, plus I could use a little cash. I'm hesitant to sell the rental, as I use that as rental income. Any advice would be much appreciated.

[Quentin Mitchell]

You ever consider doing a cash-out refi on one of them, preferably the one you receive income on since the rent can help pay for the debt service, depending on who you go through you can get anywhere from 70-80% of the value of the property. Also even though you can take out 70-80% you could also take out less if don't want to take out the max.