How to use Equity on an investment property

[Andy L.]

Hi,

I had inherited an investment property that is worth quite a bit and is fully paid off. I am looking for ways to leverage the property's equity to purchase my next rental property. I had checked with most of my local banks, big banks, and credit unions and they seem to all say that they only offer HELOC to primary residents. Are there suggestions on what I should look into to pull equity out of that property?

Thanks.

[Chris Seveney]

@Andy L.

You could get an investment loan or private money loans against that other asset. The issue is it will be short term so what are you gonna do to pay it off.