How do you access equity on rental property?

[Stewart McIlvena]

This is my first post on the Bigger Pockets forum, and I'm excited to be part of the much larger group moving forward.  I would love some guidance/thoughts on the below scenario:

I purchased a townhouse in the SF Bay Area (California) a few years back and have since moved to Ohio with my wife. We kept the townhouse and are renting it out. However, given appreciation in the area, we are now sitting on $200 - $250K in equity that I would like to be able to apply to additional properties. Unfortunately, after calling many banks/credit unions/etc..., the HELOC strategy is not one that they are willing to do on investment properties.

How do you recommend accessing the equity on the house?  I've also considered a Cash Out Refi, but my rate is locked in at 3.75% so i'd see a significant rise in market rate if i were to do this.

Thank you for your help!

[Kyle J.]

@Stewart McIlvena Keep calling around until you find a lender that will do a HELOC on an investment property. There are lenders out there that do them, you just haven't found one yet. (I have two so I know they can be done.)

Here's a list of questions to help guide you when calling around: What You Need to Know When Shopping for a HELOC.