Commercial Mortgage or Business line of credit

[Todd Givens]

Hi, I own a commercial property outright. It's current value is somewhere around $250k. I intend to hold onto this property for 3-5 years. In the meantime, I want to free up some of this equity so I can invest elsewhere.

I am looking for advice as to the best lending vehicle to use. Should I pursue a commercial mortgage or business line of credit? I like the overall flexibility of a business line of credit, but fear a higher interest rate. I don't have a specific "next" property in mind, but need to be prepared when I start making offers.

Your thoughts?