(I did this and then used the money to buy another rental property.)Alternatively, if you don’t have an immediate need for the funds but want the funds available to you when an opportunity does present itself, you could take a HELOC out on the paid off property.

@David Goodman Get you a heloc from PenFed and use it to do some BRRRRs.

For HELOCs, "rules" are all over the place, differing from lender to lender. 

I have not got quotes on what a heloc rate would be.

Now, as far as the HELOC question goes.  

I'd advise seeing if you can open a HELOC on that property, tap into that equity to use on the next property.

Can you get a heloc on a performing second mortgage??

Hello everyone, Has anyone used their homes appraised value to receive a HELOC here in FL?

I would like to get a HELOC for $156,000  (80% of ARV).

Should I do:*HELOC*Personal Line of Credit*Business CreditI am stuck because each of these would hit my credit very hard and I am nervous that it will drop it too much to be in position to refinance.