Shop it around as collateral for real estate investments?

@Kevin Phu Lenders are using the property as collateral for the HELOC, just as they do with a first.

Or use the equity as collateral for a commercial loan to purchase another rental?

After a year of renting you can then refinance to pay off any loans/LOC used and or cash and have all of your funds and credit available for use once again.In the meantime you may be able to use the equity as collateral for a line of credit.  

I am also under the impression that banks want some sort of collateral to secure the investment loan, which I have none of since I don't own.I'm 23 and don't own a house, currently renting. 

Sure you have their ride and possible 'collateral' but really who has more on the line here?

He uses OPM to buy houses (Non-recourse, property as collateral, 8% interest only payments, amortized over 30 years, 5 year balloon.

Looking for advice on how to obtain a secured (using property) non-income verification type loan for the purposes of renovating a non owner-occupied second home that is owned outright in order to to turn it into a sho...

Trust deed states are much safer to loan in than mortgage states. when POL started they were in NJ and FLA two of the toughest states in the country to foreclosure and corral your collateral in.. most investors not knowing what they did not know .. just did not know the dangers of investing in mortgages in those states were... sorry.

Its customary for the bbb to evaluate their collateral in a HELOC application without an actual inspection or appraisal .