Question about how to use home equity for buying rental property

[Nick Naik]

Hello All,

I have a question on how to use existing equity in a house to either BRRR or buy and hold. The current rental I have has decent amount of equity and I want to leverage that vs. going to hard money lender or private money. Could you please share your thoughts and guidance on the pros and cons of this approach. Is this a common practice? How does it impact the current rental property's rates or payments if I take a HELOC on that property.

Regards,

Nick