Heloc on a property that is totally paid off

[Michael Sontheimer]

Hi. I have been investigating the best way to get the down payment for my second investment property. I paid cash for the first so it is totally paid off. I am interested in a HELOC but have only seen this done when there is still an existing loan/mortgage on the property. Is it possible/wise to get a HELOC for the property that I have free and clear?

I only have one deal under my belt but I am excited to move forward and appreciate any help you could give. Thanks in advance!