HELOC on a investment property

[David Marsh]

Hello,

I have been trying to open up a HELOC on a investment property I have. The lender that has the mortgage doesn't do HELOCS on investment properties and I have reached out to a number of other lenders seeing if this is possible. So far I've only been told that I would need to do a second loan on the property and it would technically be a HELOC. Is it possible to open a HELOC for a rental?

Property is in Wisconsin and the only reason I haven't done a Cash out Refi is because the loan rate is at 3%