Home Equity Line Of Credit

[Enwan Casson]

Good evening to all,

My name is Jason, and I am new to this platform. However, I am excited to meet people and learn about real estate.

Can someone advise me on HELOC on rental properties. I want to take out a HELOC on one of my rental properties. Currently, I have a tenant that lives in my rental. I heard that to be eligible for an HELOC, you have to live in the property for 12 months. I also heard that banks don't like to give HELOC on rental properties. How do I get around not living in my rental property, but still get a HELOC on that property? Your help will be greatly appreciated. Thanks!