Heloc or something else🤔?

[Michael L.]

What's up BP Fam, I hope all are well🌞. Quick question; if you have a property that is paid off, can you still get a Heloc on that property to obtain an investment property or is there a better alternative? Proper thank you's for all assistance.

[Michael L.]

Quote from @Irina Belkofer:

I've got HELOC on my home which is free and clear but I'm not sure about HELOC on rental - not every state does it.

I'm using my HELOC for short term financing needs - the rate is 7.49% and 2 years ago it was 2.29%

@Irina Belkofer, thanks for the clarification. An I was also speaking on a Heloc for a personal home to use for an investment.