Cash out refi or HELOC?

[Kari Morales]

I have been trying to buy an investment property for several months now, unfortunately each time I place an offer, I am beat by an all cash offer.

I currently own a rental property that has appreciated about $500K since I purchased it back about 10 years ago. I don’t really want to sell it, as I am a buy and hold investor.

My question is, can I tap the equity in my rental property to pay all cash for another investment property? Should I do a HELOC, or a Cash out refinance?

I haven’t done either of these before and would like your opinions on what the best way would be so I can start competing all cash and finally get my offer accepted? Thanks.