HELOC or other options

[Adam Kirk]

Hello all, I have been reading BP for a while and there is so much good information in these forums. Here is the obstacle I currently face. My partner and I own a duplex in Chattanooga TN free and clear, I do not occupy the residence, and have done a good amount of work to the property. We bought this place for $26k. Does anyone know of any lending institutions that would do a HELOC or other loans so I can pull out some equity and buy another rental? Thank you for any help you can offer.

[Jeff Trevarthen]

It's really hard to get HELOC's right now for a non-owner occupied duplex. Cash-out refi may be a better option. Then again, depending on the loan amount, that may be hard as well.