Hello, I bought a vacant investment property with cash in October 2020 and want to get money out of it to purchase another place. It’s still vacant as I’m working on renovations (it’ll take a minute since it’s in historic district). What’s the best way to do this (cheapest, most money) Heloc, delayed financing? Is this easy to get? what kind of banks should I look for? Property in GA.  Eventually when project is done (prob a year to be conservative) I’ll cash out refi with a conventional loan but don’t want to leave my money in there that long. Thanks in advance! 

You should be able to get a HELOC on the property? Not positive of the banks requirements for that in terms of the property condition, but if the appraised value is there, i'm sure you can get yourself a line of credit. This would keep the option open to refinance a year from now.

Originally posted by @Morgan Clemente :

Hello, I bought a vacant investment property with cash in October 2020 and want to get money out of it to purchase another place. It’s still vacant as I’m working on renovations (it’ll take a minute since it’s in historic district). What’s the best way to do this (cheapest, most money) Heloc, delayed financing? Is this easy to get? what kind of banks should I look for? Property in GA.  Eventually when project is done (prob a year to be conservative) I’ll cash out refi with a conventional loan but don’t want to leave my money in there that long. Thanks in advance! 

You need a hard money loan to finish your renovations. No bank is going to give you money in the middle of a renovation. If you have another property, get a HELOC on that property and finish the renovations. Then get it rented and you'll get a decent loan.