Utilizing Equity in Property

[Joshua Rice]

We will have our current property paid off before we would feel comfortable making a move into buying a rental property. ( 6 - 12 months from now ) With everything going on right now it is making us wait to jump into the game.

I know of HELOC but that is while you still have a mortgage. What would the terminology be if I wish to use equity to do the accomplish the same strategy? Is it still considered a HELOC or something else? Suggestions on what you would do with $100k equity and no mortgage would also be appreciated.