Which is better time to borrow

[Kenneth Mims]

I was hoping that someone could help me with this question.  I have a rental property that is paid for and I want to borrow the equity out of it for any future investments.  The property is at a near high right now and I want to take advantage of that, I have tenants that are great and pay me a very reasonable rent.  I estimate that whatever I borrow from the property would surely be covered by the rent I am getting now with left over cash.  My question is I don't have another property yet too invest in but I want to be ready with the cash just in case I do find something.  Its the end of the year and tax wise, should I wait until next year (Jan.)to borrow the equity or does it really matter if I borrow the money out of my property now?